Exchange-Traded Fund Assets
April 2002Washington, DC, May 30, 2002 - The combined assets of the nation's exchange-traded funds (ETFs) were $85.86 billion in April 2002, according to the Investment Company Institute, the national association of the investment company industry. The Institute's monthly statistical collection also includes the value of shares issued and redeemed by exchange-traded funds. An exchange-traded fund is an investment company with shares that trade intraday on stock exchanges at market-determined prices. Investors may buy or sell ETF shares through a broker just as they would the shares of any publicly traded company. Statistics contained in the Institute's monthly ETF report have been obtained from information provided to ICI by exchange-traded funds. Trust-issued receipts, such as Holding Company Depository Receipts (HOLDRS), are not included in the report because they are not issued by registered investment companies.
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Assets of Exchange-Traded Funds by Type
(millions of dollars) |
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April 2002 |
March 2002 |
February 2002 |
Domestic (Broad-based) |
72,484 |
74,791 |
68,950 |
Domestic (Sector/Industry) |
9,253 |
9,554 |
8,841 |
Total Domestic |
81,737 |
84,344 |
77,791 |
Global/International |
4,123 |
3,859 |
3,100 |
All |
85,859 |
88,203 |
80,891 |
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Value of Shares Issued and Redeemed by All Exchange-Traded Funds
(millions of dollars) |
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April 2002 |
March 2002 |
February 2002 |
Gross Issuance |
6,234 |
6,837 |
5,102 |
Gross Redemptions |
2,817 |
3,590 |
2,601 |
Net Issuance |
3,417 |
3,247 |
2,501 |
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Number of Exchange-Traded Funds by Type |
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April 2002 |
March 2002 |
February 2002 |
Domestic (Broad-based) |
35 |
35 |
35 |
Domestic (Sector/Industry) |
33 |
33 |
33 |
Total Domestic |
68 |
68 |
68 |
Global/International |
34 |
34 |
34 |
All |
102 |
102 |
102 | Highlights: Assets of exchange-traded funds decreased by $2.34 billion in April 2002. Assets of domestic ETFs decreased by $2.61 billion, while assets of international ETFs increased by $264 million. The value of shares issued exceeded that of shares redeemed by $3.42 billion in April. Gross issuance in April declined to $6.23 billion from $6.84 billion in March, and redemptions in April decreased to $2.82 billion from $3.59 billion in March. Sixty-eight ETFs tracked domestic stock indexes in April and held assets of $81.74 billion. Among the domestic ETFs, 35 used broad-based indexes and 33 ETFs targeted sector or industry indexes. The Institute offers answers to frequently asked questions about ETFs.
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