Exchange-Traded Fund Assets
August 2002Washington, DC, September 18, 2002 - The combined assets of the nation's exchange-traded funds (ETFs) were $91.28 billion in August 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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August 2002 |
July 2002 |
December 2001 |
Total Domestic Equity Index |
80,773 |
78,595 |
79,977 |
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Domestic (Broad-Based) |
72,053 |
70,330 |
71,774 |
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Domestic (Sector/Industry) |
8,720 |
8,265 |
8,202 |
Global/International Equity Index |
6,897 |
6,661 |
3,016 |
Bond Index |
3,613 |
3,015 |
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All |
91,283 |
88,271 |
82,993 |
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Value of Shares Issued and Redeemed by All Exchange-Traded Funds
(millions of dollars) |
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August 2002 |
July 2002 |
YTD-02 |
YTD-01 |
Gross Issuance |
6,783 |
9,194 |
59,852 |
52,755 |
Gross Redemptions |
3,586 |
2,045 |
27,190 |
30,200 |
Net Issuance |
3,196 |
7,149 |
32,662 |
22,555 |
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Number of Exchange-Traded Funds by Type |
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August 2002 |
July 2002 |
December 2001 |
Total Domestic Equity Index |
68 |
68 |
68 |
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Domestic (Broad-Based) |
35 |
35 |
35 |
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Domestic (Sector/Industry) |
33 |
33 |
33 |
Global/International Equity Index |
34 |
34 |
34 |
Bond Index |
4 |
4 |
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All |
106 |
106 |
102 | Highlights: Assets of all exchange-traded funds increased by $3.01 billion to $91.28 billion in August 2002. Equity index ETF assets increased by $2.42 billion to $87.67 billion, while bond index ETF assets increased by $598 million to $3.61 billion. Assets of domestic equity ETFs increased by $2.18 billion, and international equity ETF assets increased by $236 million. During August, the value of all ETF shares issued exceeded that of shares redeemed by $3.20 billion. Net issuance of all equity index ETFs equaled $2.69 billion, while bond ETF net issuance was $503 million. Gross issuance of all ETFs decreased in August to $6.78 billion from $9.19 billion in July, and redemptions increased to $3.59 billion from $2.05 billion in July. Sixty-eight ETFs tracked domestic stock indexes in August and held assets of $80.77 billion. Thirty-four ETFs tracked international equity indexes and held assets of $6.90 billion. And four ETFs tracked bond indexes. The Institute offers answers to frequently asked questions about ETFs.
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