IndexFunds.com Staff

ETF Asset Data from the ICI for April 2003

Exchange-traded fund assets continue to rise in the bear market, topping $110 billion in April, according to the latest figures released by the Investment Company Institute, the trade group for the mutual fund industry.

ETF assets increased by nearly $10 billion to over $110 billion in April. Assets in ETFs tracking stock indexes increased by $10 billion to $107 billion, while bond index ETF assets decreased by $384 million to $3.29 billion. Assets of domestic equity ETFs increased by $9.54 billion, while international equity ETF assets gained $485 million for the month of April.

In April the value of all ETF shares issued exceeded that of shares redeemed by about $1.8 billion. Stock index ETFs experienced a positive net issuance of $2.23 billion, while bond ETFs were in the red with a negative net issuance of $422 million. Gross issuance of all ETFs decreased in April to $6.63 billion from $10.30 billion in March, and redemptions increased to $4.83 billion from $2.56 billion in March.

At last count, 69 ETFs tracked domestic stock indexes in April and held a lion's share of assets with over $101 billion. Forty-one ETFs tracked international equity indexes and held assets of $5.64 billion. There were eight bond ETFs in April, but provider ETF Advisors has announced plans to close four bond ETFs - Barclays Global investors offers four fixed-income iShares ETFs.