ICI Launches Monthly
Exchange-Traded Fund Report

Washington, DC, February 8, 2001 - The combined assets of the nation's exchange-traded funds (ETFs) were $65.6 billion at the end of 2000, according to the Investment Company Institute, the national association of the investment company industry. The Institute's new monthly statistical collection also includes the value of shares issued and redeemed by exchange-traded funds.

Institute Chief Economist John Rea said the Institute is collecting and reporting data on exchange-traded funds to increase the amount of information available about the range of investment vehicles regulated under the Investment Company Act. "All ETFs registered as investment companies with the U.S. Securities and Exchange Commission are included in the statistical release," Rea said. The Institute already collects and reports similar comprehensive information about mutual funds, closed-end funds, and unit investment trusts.

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.

Assets of Exchange-Traded Funds by Type (millions of dollars)
		December 2000	November 2000	October 2000
Domestic (Broad-based)		58,190	49,662	49,511
Domestic (Sector/Industry)		5,355	4,817	5,135
Total Domestic		63,544	54,479	54,646
Global/International		2,041	1,869	1,900
All		$65,585	$56,348	$56,546

Value of Shares Issued by All Exchange-Traded Funds (millions of dollars)
	December 2000	November 2000	October 2000
Gross Issuance	12,593	11,429	10,988
Redemptions	1,826	3,461	2,966
Net Issuance	10,767	7,968	8,022

Number of Exchange-Traded Funds by Type
	December 2000	November 2000	October 2000
Domestic (Broad-based)	28	28	28
Domestic (Sector/Industry)	27	27	27
Total Domestic	55	55	55
Global/International	25	24	24
All	80	79	79

Highlights: In December 2000, there were 80 ETFs trading on U.S. stock exchanges, up from 30 at the beginning of the year. All ETFs trading on stock exchanges at the end of 2000 were equity index funds. Fifty-five ETFs tracked domestic stock indexes and had assets of $63.5 billion. Among the domestic ETFs, 28 used broad indexes and 27 targeted sector or industry indexes. The overall increase in ETF assets in 2000 was entirely accounted for by the issuance of new shares.

The Institute offers answers to frequently asked questions about ETFs.