Wednesday, May 28, 2008

ETF market boom. But still behind mutual funds.

European ETF market is still well behind US. By the end of 2007 assets in European ETF bln vs US $581 bln. Nevertheless European assets grew by 43% last year. In terms of issues 423 vs 601. Even thought ETF is the fastest growing retail investment product ETF market makes up only 5% of mutual funds assets in US. In Europe the number is even smaller, around 2%.

Equity based ETF are the most popular. In Europe it's about 80% of the market and in US 90%. Bonds are glamour ETF in Europe.

Worldwide leading issuer is Barclays Global Investors (BSC), iShares. In US followed by State Street Global Advisors, Vanguard, Power Shares, ProShares and others. In Europe first position again for Barclays, then Lyxor and Deutsche Bank (DB) with rapidly growing db x-trackers.

Ten top ETF

ETF Ticker Assets ($ mil)
SPDR Index 500 (SPY) 75,121
iShares MSCI-EAFE (EFA) 47,363
iShares MSCI-Emerging Mkts (EEM) 26,285
iShares S&P 500 (IVV) 18,994
PowerShares QQQ (QQQQ) 17,727
SPDR Equity Gold (GLD) 16,247
iShares Russell 1000 Gr (IWF) 13,447
iShares Russell 2000 (IWM) 10,485
Vanguard MSCI Total Market (VTI) 10,422
iShares Lehman 1-3 Yr Treas (SHY) 9,279


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