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Portfolio > ETFs

ETF Assets Edged Up in April: ICI

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May 26, 2004 — The combined assets of the nation’s exchange-traded funds (ETFs) rose to $162.0 billion at the end of April, from $161.7 billion at the end of March, according to data released by the Investment Company Institute (ICI).

ETF assets totaled $151.0 billion at the end of December 2003.

At the end of April, 134 ETFs were in operation, the same as in the prior month. Of that total, 87 ETFs tracked domestic stock indexes and held assets of $134.6 billion; 41 ETFs tracked international/global equity indexes and held assets of $21.0 billion; while six bond index ETFs held assets of $6.4 billion.

The ICI also noted that assets of domestic equity ETFs decreased by $932 million, and international equity ETF assets increased by $971 million.

In addition, the value of all ETF shares issued exceeded that of shares redeemed by $4.9 billion. Equity index ETFs experienced a positive net issuance of $4.4 billion, while bond ETFs experienced a positive net issuance of $487 million. Gross issuance of all ETFs decreased in April to $12.0 billion from $14.6 billion in March, and redemptions decreased to $7.1 billion from $11.0 billion in March.

Net issuance, which is gross issuance minus redemptions, is roughly equivalent to the unit of net new cash flow that is used for conventional mutual funds.

Below is a list of the five largest ETFs:

ETF Assets

(in billions)

One-Year Returns

Through 4/30/04

S&P Dep Receipts (SPY) $38.17 +22.6%
Nasdaq -100 Trust Ser 1 (QQQ) $22.08 +26.7%
iShares S&P 500 Index Trust (IVV) $6.36 +22.7%
iShares MSCI EAFE Index Tr (EFA) $6.25 +38.6%
DIAMONDS Trust, Series1 (DIA) $6.03 +23.0%

Source: Nuveen.

Contact Robert F. Keane with questions or comments at:

[email protected].


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