Exchange-Traded Fund Assets
November 2001 Washington, DC, December 19, 2001 - The combined assets of the nation's exchange-traded funds (ETFs) were $78.85 billion at the end of November 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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November 2001 |
October 2001 |
September 2001 |
Domestic (Broad-based) |
68,523 |
60,464 |
56,218 |
Domestic (Sector/Industry) |
7,742 |
6,709 |
6,183 |
Total Domestic |
76,265 |
67,173 |
62,401 |
Global/International |
2,581 |
2,248 |
1,944 |
All |
78,846 |
69,421 |
64,345 |
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Value of Shares Issued and Redeemed by All Exchange-Traded Funds
(millions of dollars) |
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November 2001 |
October 2001 |
September 2001 |
Gross Issuance |
5,557 |
4,952 |
4,617 |
Gross Redemptions |
3,295 |
4,091 |
2,891 |
Net Issuance |
2,262 |
861 |
1,726 |
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Number of Exchange-Traded Funds by Type |
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November 2001 |
October 2001 |
September 2001 |
Domestic (Broad-based) |
34 |
34 |
33 |
Domestic (Sector/Industry) |
33 |
33 |
33 |
Total Domestic |
67 |
67 |
66 |
Global/International |
34 |
29 |
26 |
All |
101 |
96 |
92 | Highlights: Assets of exchange-traded funds increased by $9.43 billion in November. Assets of domestic ETFs increased by $9.09 billion, while assets of international ETFs increased by $333 million. The value of shares issued exceeded that of shares redeemed by $2.26 billion in November. Gross issuance in November increased to $5.56 billion from $4.95 billion in October, and redemptions in November decreased to $3.30 billion from $4.09 billion in October. Sixty-seven ETFs tracked domestic stock indexes in November and had assets of $76.27 billion. Among the domestic ETFs, 34 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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