ETF Asset Data from the ICI for April 2003 IndexFunds.com Staff June 6, 2003

Exchange-traded fund assets continue to rise in the bear market, topping $110 billion in April, according to the latest figures released by the Investment Company Institute, the trade group for the mutual fund industry.

Assets Of Exchange-Traded Funds By Type (millions of dollars)
	April 2003	March 2003	December 2002
Total Domestic Equity Index	101,548	92,004	92,904
Domestic (Broad-Based)	88,487	80,283	82,365
Domestic (Sector/Industry)	13,062	11,721	10,539
Global/International Equity Index	5,642	5,157	5,324
Bond Index	3,285	3,669	3,915
All	110,475	100,831	102,143

Value of Shares Issued and Redeemed by All Exchange-Traded Funds (millions of dollars)
	April 2003	March 2003	YTD-03	YTD-02
Gross Issuance	6,632	10,296	23,663	22,950
Gross Redemptions	4,829	2,555	20,348	13,523
Net Issuance	1,803	7,740	3,315	9,427

Number of Exchange-Traded Funds by Type
	April 2003	March 2003	December 2002
Total Domestic Equity Index	69	66	66
Domestic (Broad-Based)	38	35	35
Domestic (Sector/Industry)	31	31	31
Global/International Equity Index	41	40	39
Bond Index	8	8	8
All	118	114	113

ETF assets increased by nearly $10 billion to over $110 billion in April. Assets in ETFs tracking stock indexes increased by $10 billion to $107 billion, while bond index ETF assets decreased by $384 million to $3.29 billion. Assets of domestic equity ETFs increased by $9.54 billion, while international equity ETF assets gained $485 million for the month of April.

In April the value of all ETF shares issued exceeded that of shares redeemed by about $1.8 billion. Stock index ETFs experienced a positive net issuance of $2.23 billion, while bond ETFs were in the red with a negative net issuance of $422 million. Gross issuance of all ETFs decreased in April to $6.63 billion from $10.30 billion in March, and redemptions increased to $4.83 billion from $2.56 billion in March.

At last count, 69 ETFs tracked domestic stock indexes in April and held a lion's share of assets with over $101 billion. Forty-one ETFs tracked international equity indexes and held assets of $5.64 billion. There were eight bond ETFs in April, but provider ETF Advisors has announced plans to close four bond ETFs - Barclays Global investors offers four fixed-income iShares ETFs.