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.
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.
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