RT Journal Article SR Electronic T1 The Brass Tacks of ETF Evaluation JF ETFs and Indexing FD Institutional Investor Journals SP 61 OP 66 VO 2006 IS 1 A1 Noel C. Archard YR 2006 UL http://guides.pm-research.com/content/2006/1/61.abstract AB 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.