TY - JOUR T1 - The Brass Tacks of ETF Evaluation JF - ETFs and Indexing SP - 61 LP - 66 VL - 2006 IS - 1 AU - Noel C. Archard Y1 - 2006/09/21 UR - http://guides.pm-research.com/content/2006/1/61.abstract N2 - Since the launch of the first ETF 13 years ago, institutional investors have widely incorporated these products into their portfolios, taking the market from $0 to more than $300 billion in assets under management. Perhaps in conjunction with the simple law of supply and demand, we are seeing a proliferation of ETFs. Providers are introducing more specialty sector and sub-sector funds and benchmarks that stray from the traditional index model in an effort to beat the market and compete for market share. This article will provide a roadmap for evaluating ETFs, from costs and spreads to benchmark construction and tracking error. ER -