Exchange-Traded Fund Assets
September 2004Washington, October 29 - The combined assets of the nation's exchange-traded funds (ETFs) were $180.84 billion in September, 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 2004 |
August 2004 |
December 2003 |
Total Domestic Equity Index |
149,571 |
144,576 |
132,332 |
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Domestic (Broad-Based) |
127,044 |
122,933 |
114,049 |
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Domestic (Sector/Industry) |
22,527 |
21,643 |
18,283 |
Global/International Equity Index |
23,902 |
22,806 |
13,984 |
Bond Index |
7,369 |
7,126 |
4,667 |
All |
180,842 |
174,508 |
150,983 |
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Value of Shares Issued and Redeemed by All Exchange-Traded Funds
(millions of dollars) |
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September 2004 |
August 2004 |
YTD 2004 |
YTD 2003 |
Gross Issuance |
10,082 |
8,279 |
106,079 |
58,167 |
Gross Redemptions |
6,590 |
6,341 |
77,154 |
58,920 |
Net Issuance |
3,492 |
1,938 |
28,925 |
-753 |
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Number of Exchange-Traded Funds by Type |
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September 2004 |
August 2004 |
December 2003 |
Total Domestic Equity Index |
96 |
96 |
72 |
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Domestic (Broad-Based) |
59 |
59 |
40 |
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Domestic (Sector/Industry) |
37 |
37 |
32 |
Global/International Equity Index |
41 |
41 |
41 |
Bond Index |
6 |
6 |
6 |
All |
143 |
143 |
119 | Highlights: Assets of all exchange-traded funds increased by $6.33 billion to $180.84 billion in September. Equity index ETF assets increased by $6.09 billion to $173.47 billion, while bond index ETF assets increased by $243 million to $7.37 billion. Assets of domestic equity ETFs increased by $5.00 billion, and international equity ETF assets increased by $1.10 billion. During September, the value of all ETF shares issued exceeded that of shares redeemed by $3.49 billion. Equity index ETFs experienced a positive net issuance of $3.26 billion, while bond ETFs also experienced a positive net issuance of $233 million. Gross issuance of all ETFs increased in September to $10.08 billion from $8.28 billion in August, and redemptions increased to $6.59 billion from $6.34 billion in August. Ninety-six ETFs tracked domestic stock indexes in September and held assets of $149.57 billion. Forty-one ETFs tracked international equity indexes and held assets of $23.90 billion. And six ETFs tracked bond indexes.
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