Exchange-Traded Fund Assets
September 2001Washington, DC, October 19, 2001 - The combined assets of the nation's exchange-traded funds (ETFs) were $64.35 billion at the end of September 2001, 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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September 2001 |
August 2001 |
July 2001 |
Domestic (Broad-based) |
56,218 |
63,248 |
67,028 |
Domestic (Sector/Industry) |
6,183 |
6,747 |
6,650 |
Total Domestic |
62,401 |
69,995 |
73,678 |
Global/International |
1,944 |
2,090 |
1,842 |
All |
64,345 |
72,085 |
75,520 |
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Value of Shares Issued and Redeemed by All Exchange-Traded Funds
(millions of dollars) |
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September 2001 |
August 2001 |
July 2001 |
Gross Issuance |
4,617 |
5,420 |
5,615 |
Gross Redemptions |
2,891 |
2,740 |
3,037 |
Net Issuance |
1,726 |
2,680 |
2,578 |
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Number of Exchange-Traded Funds by Type |
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September 2001 |
August 2001 |
July 2001 |
Domestic (Broad-based) |
33 |
33 |
33 |
Domestic (Sector/Industry) |
33 |
33 |
33 |
Total Domestic |
66 |
66 |
66 |
Global/International |
26 |
26 |
25 |
All |
92 |
92 |
91 | Highlights: Assets of exchange-traded funds decreased by $7.74 billion in September. Assets of domestic ETFs decreased by $7.59 billion, while assets of international ETFs decreased by $146 million. The value of shares issued exceeded that of shares redeemed by $1.73 billion in September. Gross issuance in September decreased to $4.62 billion from $5.42 billion in August, and redemptions in September increased to $2.89 billion from $2.74 billion in August. Sixty-six ETFs tracked domestic stock indexes in September and had assets of $62.40 billion. Among the domestic ETFs, 33 used broad-based indexes and 33 targeted sector or industry indexes. The Institute offers answers to frequently asked questions about ETFs.
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