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John Spence
ETF Update and Complete Listing
John Spence
Thursday, August 24, 2000
Exchange-traded funds (ETFs) have continued their meteoric rise in popularity, with total assets in ETF securities exceeding $47 billion for the week ending 8/18/00, excluding Merrill Lynch's HOLDRs (Source: Wiesenberger).
Since ETFs incorporate some of the features of stocks, they offer unique advantages to fund investors. For example, unlike regular mutual funds, ETFs can be traded throughout the day, and can be sold short or bought on margin.
However, ETFs do not always trade at the net asset value of the holdings within the fund, and discounts and premiums can and do open up (compare market price to net asset value in below table). Of course, these fluctuations lead to arbitrage opportunities for managers and the opportunity to win out or get burned. Timely knowledge of the net asset value of the securities within a particular ETF is a crucial factor when it comes to managing ETFs.
The table below offers useful information about every ETF currently available. All of them are traded on AMEX.
| Fund Name |
Ticker |
Exp. Ratio (as of 7/21 2000)
|
1 mo (as of 8/18 2000) |
YTD (as of 8/18 2000) |
1 yr (as 0f 8/18 2000) |
Total net assets ($ millions, as of 7/21 2000) |
Share Mkt price (as of 8/18* 2000)
|
Share Net asset value (as of 8/18 2000) |
| Diamond Series Trust I |
DIA
|
0.12
|
3.33
|
-3.30
|
0.64
|
2050.25
|
110.44
|
110.50
|
| iShares Dow Jones US Basic Mtrls |
IYM
|
0.60
|
n/a
|
n/a
|
n/a
|
8.61
|
35.76
|
36.03
|
| iShares Dow Jones US Chemicals |
IYD
|
0.60
|
n/a
|
n/a
|
n/a
|
16.98
|
39.28
|
39.33
|
| iShares Dow Jones US Cons Cyclical |
IYC
|
0.60
|
-4.17
|
n/a
|
n/a
|
15.66
|
60.34
|
60.57
|
| iShares Dow Jones US Cons Non-Cycl |
IYK
|
0.60
|
-1.47
|
n/a
|
n/a
|
12.51
|
41.97
|
41.90
|
| iShares Dow Jones US Energy Sector |
IYE
|
0.60
|
12.40
|
n/a
|
n/a
|
27.85
|
52.41
|
52.26
|
| iShares Dow Jones US Financial Sct |
IYF
|
0.60
|
6.74
|
n/a
|
n/a
|
98.96
|
81.17
|
81.39
|
| iShares Dow Jones US Financial Srv |
IYG
|
0.60
|
5.37
|
n/a
|
n/a
|
61.64
|
92.94
|
92.49
|
| iShares Dow Jones US Healthcare |
IYH
|
0.60
|
-2.41
|
n/a
|
n/a
|
18.98
|
62.13
|
61.95
|
| iShares Dow Jones US Industrial |
IYJ
|
0.60
|
-0.30
|
n/a
|
n/a
|
27.59
|
61.72
|
61.89
|
| iShares Dow Jones US Internet |
IYV
|
0.60
|
-9.26
|
n/a
|
n/a
|
92.71
|
70.09
|
70.14
|
| iShares Dow Jones US Real Estate |
IYR
|
0.60
|
n/a
|
n/a
|
n/a
|
18.23
|
n/a
|
n/a
|
| iShares Dow Jones US Technology |
IYW
|
0.60
|
-0.29
|
n/a
|
n/a
|
135.32
|
128.94
|
128.70
|
| iShares Dow Jones US Telecom |
IYZ
|
0.60
|
-14.15
|
n/a
|
n/a
|
51.81
|
52.50
|
52.79
|
| iShares Dow Jones US Total Mkt |
IYY
|
0.20
|
n/a
|
n/a
|
n/a
|
10.39
|
n/a
|
n/a
|
| iShares Dow Jones US Utilities |
IDU
|
0.60
|
11.49
|
n/a
|
n/a
|
28.30
|
78.53
|
78.53
|
| iShares MSCI Australia Index |
EWA
|
0.84
|
1.18
|
-2.83
|
3.72
|
64.73
|
10.75
|
10.58
|
| iShares MSCI Austria Index |
EWO
|
0.84
|
3.17
|
-2.26
|
-11.78
|
10.96
|
8.13
|
7.99
|
| iShares MSCI Belgium Index |
EWK
|
0.84
|
1.80
|
-12.40
|
-9.64
|
13.67
|
14.13
|
13.99
|
| iShares MSCI Brazil Index |
EWZ
|
0.99
|
n/a
|
n/a
|
n/a
|
35.25
|
n/a
|
n/a
|
| iShares MSCI Canada Index |
EWC
|
0.84
|
1.47
|
30.68
|
60.65
|
19.05
|
21.56
|
21.62
|
| iShares MSCI France Index |
EWQ
|
0.84
|
-1.54
|
1.36
|
26.65
|
95.87
|
28.00
|
28.05
|
| iShares MSCI EMU |
EZU
|
0.84
|
n/a
|
|
|