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The Markets February 6, 2007
ETFs See Asset Uptick in January
Assets of U.S.-listed exchange-traded funds (ETFs) were up slightly to $422 billion in January, according to new data from State Street Global Advisors.
Reported by Fred Schneyer
State Street said the asset level was up about $5 billion or 1.1% over the month, according to a Reuters news report.
The top three selling U.S. ETFs by dollar volume last month were the S&P 500 SPDR, the NASDAQ 100 Index Tracking Stock and the iShares Russell 2000 Index Fund, according to State Street.
ETFs investing internationally saw a $3 billion, or 2.8%, increase and those investing by value and growth style saw about a $2 billion, or 3.6%, advance, State Street said.
Assets in the specialty category, which includes dividend-based ETFs, grew $1.3 billion, or 8.4%. Meanwhile, according to the data, ETFs investing by size, such as small-cap, mid-cap and large-cap stocks, saw an asset retreat of almost $5 billion, or 3.2% in January.
State Street said that average daily volume for all U.S.-listed ETFs amounted to $31 billion, or about 7% of the total value of the U.S. ETF market.
According to the monthly review, 28 new ETFs were launched during the month, bringing the total to 387.