ETF Assets & Trading Volume Up in 2003

September 10, 2003

Exchange-traded funds continue to grow as institutional and retail investors are increasingly incorporating them into both active and passive strategies. At last count there were 291 ETFs with 383 listings on 27 global exchanges.

San Francisco - August 30, 2003.  Exchange-traded funds continue to grow as institutional and retail investors are increasingly incorporating them into both active and passive strategies. At last count there were 291 ETFs with 383 listings on 27 global exchanges. Currently, 114 ETFs trade in the U.S.

The number of institutional investors reporting holding one or more U.S. listed ETF or HOLDR has grown by 15% during the past year (June 2002-June 2003), increasing from 1,162 to 1,336 (based on data from Thomson Financial's Carson Geo database of 13F and other fund filings).

Nearly 900 institutions have started using US ETFs during the past three years. The number of hedge funds reporting using US ETFs has increased by 84%, rising from fifty last year to ninety two this year.

Average daily trading volume in ETFs has increased 41% in terms of dollar value since the end of 2002, from $6.3 billion to $8.9 billion - 37% growth has occurred in the number of shares traded daily, from 143 million to 196 million.

Assets under management increased during first half of the year by 18.5%, from $141.62 billion to $167.99 billion globally. Assets of ETFs listed in Europe increased by 47.6% or $5.09 billion; in the United States by 18.5% or $18.92 billion.

Twenty new ETFs, one new institutional share class and four cross listing have been launched, nine ETFs have been delisted and two ETFs changed their benchmarks during the first half of 2003.

 

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