ETFs Slip A Bit in May

June 25, 2001 ( - The combined assets of the nation's exchange-traded funds (ETFs) dropped slightly in May to $72.77 billion, down up from April's total of $73.30 billion.

More ETF shares were redeemed than issued in May, according to the Investment Company Institute (ICI), leaving a deficit of $248 million in net issuance. Gross issuance for May was $4.049 billion, down from April?s $5.595 billion.

Sector Slump

Broad-based domestic equity ETF assets fell to $63.763 billion at the end of May, from an April total of $64.717 billion while domestic sector/industry funds were up slightly to $7,091 billion, from $6,696 billion in April.

Global/international ETFs also slipped somewhat, to $1.919 billion from $1.917 billion the prior month.

The ICI report includes 30 broad-based domestic equity ETFs, 30 domestic sector/industry focused funds, and 25 global/internationally-oriented ETFs.

Statistics contained in the 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 registered investment companies do not issue them.