How do funds manging Exchange Traded Funds make money for themselves?

Funds managing Exchange Traded Funds (ETFs) typically make money through management fees charged to investors, which are a percentage of the assets under management (AUM). Additionally, they may earn revenue from securities lending, where they lend out the underlying securities to short-sellers for a fee. Some funds also benefit from trading spreads and may engage in market-making activities to enhance profitability. Overall, their revenue largely depends on the scale of AUM and the fee structure established.