Combined ETF assets totaled $64.31 billion at the end of February according to the Investment Company Institute (ICI), a $7.82 billion drop (10.8%) from January’s total.
An exchange-traded fund is an investment company with shares that trade intraday on stock exchanges at market-determined prices. Investors may buy or sell ETF shares through a broker just as they would the shares of any publicly traded company.
Issuance Up, Redemptions Down
Net issuance of ETF shares increased to $3.21 billion from $2.34 billion in January. $6.174 billion were issued versus $2.96 billion in redemptions, according to ICI. Redemptions during the month were actually well below January’s $3.987 billion.
Broad-based domestic equity ETFs held $56.846 billion, versus $63.801 billion the month before. Sector/industry focused ETFs stood at $5.549 billion, down from $6.299 billion in January.
Global/international ETF holdings totaled $1.915 billion, down from $2.034 billion in January.
The ICI report includes 28 broad-based domestic equity ETFs, 29 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 they are not issued by registered investment companies.