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Portfolio > ETFs

ETF Assets Inched Up in February: ICI

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March 30, 2005 — The combined assets of the nation’s exchange-traded funds (ETFs) edged up to $223.9 billion at the end of February, from $222.9 billion at the end of January, according to data released by the Investment Company Institute (ICI).

ETF assets totaled $226.2 billion at the end of December 2004.

At the end of February, 152 ETFs were in operation, the same as in the prior month. Of that total, 103 ETFs tracked domestic stock indexes and held assets of $175.6 billion. Forty-three ETFs tracked global/international equity indexes and held assets of $38.1 billion. Another six ETFs tracked bond indexes, holding assets of $10.1 billion.

The ICI also noted that assets of domestic equity ETFs decreased by $3.8 billion in the month, while international equity ETF assets increased by $4.1 billion.

In addition, the value of all ETF shares redeemed exceeded that of shares issued by $4.5 billion. Equity index ETFs experienced a negative net issuance of $5.3 billion, while bond ETFs experienced a positive net issuance of $815 million. Gross issuance of all ETFs decreased in February to $12.5 billion from $14.4 billion in January, while redemptions increased to $17.0 billion from $11.4 billion in January.

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 as of 12/31/04 (In billions) One-Year Returns Through 2/28/05 (%)
S&P Dep Receipts (SPY)



Nasdaq-100 Trust Ser 1 (QQQQ)



iShares MSCI EAFE Index Tr (EFA)



iShares S&P 500 Index Trust (IVV)



DIAMONDS Trust, Series1 (DIA)



*Source: Standard & Poor’s.

Contact Bob Keane with questions or comments at:[email protected].


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