美國(guó)證券和外匯委員2023注冊(cè)基金統(tǒng)計(jì)報(bào)告（英文）

DivisionofInvestmentManagementAnalyticsOfce

RegisteredFundStatistics

FormN-PORTData,periodendingSeptember2023

April18,2024

ThisisareportoftheStafoftheDivisionofInvestmentManagement’sAnalyticsOfceoftheU.S.SecuritiesandExchangeCommission.TheCommissionhasexpressednoviewregardingtheanalysis,fndings,orconclusionscontainedherein.

Informationpresentedinthisreportrefectsstaf’scompilationandanalysisofdatareportedtotheCommissionon

FormN-PORT,

certainotherflings(e.g.,

FormN-CEN)

,andsupplementalthird-partydata.Thepresentedinformationdoesnotrefectanyflingsoramendedflings

submittedafterApril18,2024.

April18,2024AnalyticsOfce

1

Introduction

ThisreportprovidesstatisticsandtrendsforSEC-registeredinvestmentcompaniesthatfle

reportsofportfolioholdingsonFormN-PORTeachmonth,refectingdatacollectedthroughFormN-CENandFormN-PORTflingsreceivedthroughApril18,2024forreportingperiodsfromMarch2019throughSeptember2023.ThetablebelowprovidesinformationoninvestmentcompanieswhicharerequiredtofleonFormN-PORTandarecapturedinthisreport.

FundType

RequiredtoFileFormN-PORT?

Yes

No

MutualFundsregisteredonFormN-1A(exclud-ingmoneymarketfunds)

X

Exchange-TradedFunds(ETFs)registeredonFormN-1A,orasaunitinvestmenttrustonFormN-8B-2

X

Closed-EndFundsregisteredonFormN-2asamanagementinvestmentcompany(includingin-tervalfundsandnon-tradedfundsregisteredonFormN-2)

X

Seperateaccountsoferingvariableannuitycon-tractsonFormN-3

X

BusinessDevelopmentCompanies(BDCs)

X

MoneyMarketFundsregulatedunderrule2a-7

X

SmallbusinessinvestmentcompaniesregisteredonFormN-5

X

UnitInvestmentTrustsregisteredonFormN-4orN-6

X

UnitInvestmentTrustsregisteredonFormsS-6andN-8B-2(excludingETFs)

X

PleaseseetheDivisionofInvestmentManagement’s“MoneyMarketFundStatistics”reporton

SEC.gov

forinformationandstatisticsrelatingtomoneymarketfundsreportingonFormN-MFP.

TheCommissionbeganreceivingFormN-PORTflingsfromLargeEntities—fundsthat

togetherwithotherinvestmentcompaniesinthesamegroupofrelatedinvestmentcompanieshavenetassetsof$1billionormore—fortheMarch2019reportingperiod.Afulldataset,includinginformationfromnon-LargeEntities,wasnotcollecteduntiltheMarch2020reportingperiod.

PleaseseetheAppendixtothisreportfordefnitionsofcapitalizedtermsandothertechnical

descriptionsincludingexplanationofconsensuscategories,prevalentassetclasses,andtechniquesusedtominimizetheefectsofoutliers.

FilersmayfleamendmentstocurrentorhistoricalFormN-PORTflingsatanytime.Thisreportutilizesthemostrecentlyreporteddataforeachfundforagivenreportperiod,basedonFormN-PORTflingsreceivedthroughApril18,2024.

April18,2024AnalyticsOfce

2

FundsmustflereportsonFormN-PORTwiththeCommissionforeachmonthinthefscal

quarternotlaterthan60daysaftertheendofthatfscalquarter.AcompletepictureofregisteredfundexposuresforagivencalendarquarteristhereforenotavailabletoCommissionStafuntil

approximatelyfourmonthsfollowingtheendofthatperiod.AsnotedonFormN-PORT,the

CommissiondoesnotintendtomakepublicinformationreportedonFormN-PORTforthefrstandsecondmonthofeachfund’sfscalquarterandcertainotherinformationthatisidentifabletoany

particularfundoradviser.Accordingly,statisticsinvolvingnon-publicFormN-PORTdataprovidedinthisreportareanonymized,andareaggregated,rounded,and/ormasked.Maskeddatainthis

reportisdenotedby“***”.

CommissionStafworkswiththereportedinformationandwithflerstoidentifyandcorrectflingerrorsandemployscertainmethodologiesandassumptionsinaggregating

thedata.CommissionStafupdatesreportedstatisticsfromtimetotimetorefectcorrectedandamendedflingsandanyadjustmentstomethodologiesandassumptions,whichmayresultinchangestopreviouslyreportedstatistics.AdownloadableExcelflepublishedalongsidethisreportprovidesthemostrecentlyupdatedhistoricaldataandincludesmethodologicalnotesandassumptions,includingadescriptionofsignifcantchanges.

IfyouhaveanyquestionsorcommentsaboutRegisteredFundStatistics

(September2023),pleasecontact:

TimDulaney,PhD,

JuanCarlosForeroPenaranda,

or

TrevorTatum

withsubjectline“RegisteredFundStatistics(September2023)”.

April18,2024AnalyticsOfce

3

Contents

1NumberofFunds4

2TotalFundAssets5

3FlowsandReturns9

4FundPortfolioInvestmentsbyCategory12

5FundPortfolioInvestmentsbyCurrency24

6FundPortfolioInvestmentsbyCountry25

7FundDerivativeInvestments27

8LiquidityClassifcations31

9FairValueLevels35

10InterestRateRisk41

11SecuritiesLending43

12Borrowing47

13Appendices48

April18,2024AnalyticsOfce

4

1NumberofFund

s1

Table1.1:NumberofFunds,byFundTypeandPrevalentAssetClass

Thistableincludesfundoffunds.“Fundoffund”isdefnedintheappendix.

FundType

PrevalentAssetClass

Oct2022

Nov2022

Dec2022

Jan2023

Feb2023

Mar2023

Apr2023

May2023

Jun2023

Jul2023

Aug2023

Sep2023

MutualFund

USEquity

3,005

3,004

3,005

3,015

3,011

3,011

3,003

2,990

2,989

2,990

2,985

2,995

Multi-Asset

2,260

2,257

2,240

2,220

2,214

2,209

2,198

2,217

2,180

2,188

2,170

2,159

TaxableBond

1,819

1,826

1,835

1,843

1,838

1,834

1,827

1,831

1,827

1,811

1,807

1,802

GlobalEquity

1,407

1,406

1,406

1,405

1,403

1,401

1,402

1,402

1,405

1,404

1,405

1,406

MunicipalBond

558

556

556

551

555

555

557

555

554

553

550

546

Subtotal

9,049

9,049

9,042

9,034

9,021

9,010

8,987

8,995

8,955

8,946

8,917

8,908

ETF

USEquity

1,220

1,230

1,240

1,244

1,255

1,264

1,266

1,269

1,278

1,280

1,303

1,323

GlobalEquity

675

683

688

685

684

686

683

686

688

687

689

694

TaxableBond

551

558

565

573

569

576

582

591

602

612

618

642

Multi-Asset

337

342

342

353

352

356

353

352

346

351

347

351

MunicipalBond

67

66

66

66

68

70

70

72

72

75

76

78

Subtotal

2,850

2,879

2,901

2,921

2,928

2,952

2,954

2,970

2,986

3,005

3,033

3,088

Closed-EndFund

TaxableBond

197

197

197

199

200

201

202

204

209

206

202

201

Multi-Asset

189

191

190

191

190

189

187

184

184

182

182

192

MunicipalBond

120

119

119

119

119

118

117

117

117

116

118

118

USEquity

89

90

90

89

89

92

89

92

93

93

92

88

GlobalEquity

54

54

54

54

54

52

52

52

51

51

51

52

Subtotal

649

651

650

652

652

652

647

649

654

648

645

651

Total

Total

12,548

12,579

12,593

12,607

12,601

12,614

12,588

12,614

12,595

12,599

12,595

12,647

Table1.2:NumberofIndexandNon-IndexFunds,byPrevalentAsset

Class

Thistableincludesfundoffunds.“Fundoffund”isdefnedintheappendix.Indexfund

indicationdrawnfromFormN-CEN,ItemC.3.

FundType

PrevalentAssetClass

Oct2022

Nov2022

Dec2022

Jan2023

Feb2023

Mar2023

Apr2023

May2023

Jun2023

Jul2023

Aug2023

Sep2023

Non-Index

USEquity

3,209

3,218

3,227

3,239

3,243

3,255

3,249

3,244

3,250

3,251

3,263

3,278

Multi-Asset

2,534

2,537

2,524

2,509

2,503

2,497

2,488

2,505

2,465

2,476

2,459

2,470

TaxableBond

2,087

2,102

2,116

2,128

2,125

2,130

2,133

2,146

2,156

2,147

2,145

2,154

GlobalEquity

1,481

1,483

1,489

1,489

1,488

1,487

1,489

1,492

1,498

1,500

1,500

1,506

MunicipalBond

704

701

702

697

702

701

702

701

700

701

701

699

Subtotal

10,015

10,041

10,058

10,062

10,061

10,070

10,061

10,088

10,069

10,075

10,068

10,107

Index

USEquity

1,105

1,106

1,108

1,109

1,112

1,112

1,109

1,107

1,110

1,112

1,117

1,128

GlobalEquity

655

660

659

655

653

652

648

648

646

642

645

646

TaxableBond

480

479

481

487

482

481

478

480

482

482

482

491

Multi-Asset

252

253

248

255

253

257

250

248

245

245

240

232

MunicipalBond

***

40

***

***

40

42

42

43

43

43

43

43

Subtotal

2,533

2,538

2,535

2,545

2,540

2,544

2,527

2,526

2,526

2,524

2,527

2,540

TotalTotal12,54812,57912,59312,60712,60112,61412,58812,61412,59512,59912,59512,647

1“MutualFunds”excludeETFs.“Closed-EndFunds”includeintervalfundsandnon-tradedfundsregisteredonFormN-2.PleaseseeAppendix

13.5

fordefnitionsofothercapitalizedtermsusedinthisreport.

5

2TotalFund

Assets2

Table2.1:AggregateTotalAssets($Billions),byFundTypeandPrevalentAssetClass

Thistableexcludesfundoffundsandremovesanyobservationswithnon-positivetotalassets(Form

N-PORT,ItemB.1.a).Becausefundscaninvestalimitedamountinotherfundswithoutbeing

consideredafundoffund,thereissomelimitedamountofdouble-countingofassets.

FundType

PrevalentAssetClass

Oct2022

Nov2022

Dec2022

Jan2023

Feb2023

Mar2023

Apr2023

May2023

Jun2023

Jul2023

Aug2023

Sep2023

MutualFund

USEquity

8,857

9,271

8,699

9,275

9,025

9,179

9,244

9,199

9,760

10,056

9,808

9,319

TaxableBond

4,007

4,112

4,004

4,112

4,035

4,165

4,113

4,090

4,072

4,087

4,082

4,027

GlobalEquity

2,676

2,958

2,819

3,030

2,923

3,010

3,040

2,954

3,088

3,181

3,067

2,947

Multi-Asset

1,516

1,602

1,514

1,584

1,527

1,567

1,567

1,536

1,568

1,602

1,556

1,497

MunicipalBond

757

777

758

787

769

778

780

771

776

779

768

743

Subtotal

17,813

18,720

17,794

18,789

18,280

18,700

18,744

18,549

19,263

19,705

19,280

18,533

ETF

USEquity

4,016

4,247

4,009

4,273

4,161

4,218

4,256

4,257

4,572

4,776

4,674

4,475

TaxableBond

1,214

1,251

1,251

1,307

1,289

1,343

1,370

1,368

1,370

1,380

1,370

1,356

GlobalEquity

980

1,118

1,092

1,204

1,160

1,191

1,208

1,173

1,220

1,278

1,222

1,182

MunicipalBond

94

103

106

109

105

107

108

108

109

111

111

109

Multi-Asset

68

71

67

72

79

71

66

70

77

83

83

71

Subtotal

6,372

6,790

6,524

6,965

6,794

6,931

7,008

6,976

7,348

7,627

7,460

7,192

Closed-EndFund

TaxableBond

141

143

142

144

143

144

144

143

145

146

147

149

Multi-Asset

89

90

87

90

87

87

87

86

88

89

91

91

USEquity

80

86

81

87

84

86

85

85

88

91

86

82

MunicipalBond

86

87

87

89

87

87

87

86

86

86

85

82

GlobalEquity

25

27

26

27

26

27

26

26

27

27

26

25

Subtotal

421

433

423

438

427

431

429

426

435

440

436

429

Total

Total

24,606

25,942

24,740

26,192

25,501

26,061

26,180

25,951

27,046

27,771

27,177

26,155

Table2.2:AggregateIndexFundandNon-IndexFundTotalAssets

($Billions),byPrevalentAssetClass

Thistableexcludesfundoffundsandremovesanyobservationswithnon-positivetotalassets(Form

N-PORT,ItemB.1.a).IndexfundindicationdrawnfromFormN-CEN,ItemC.3.Becausefundscaninvest

alimitedamountinotherfundswithoutbeingconsideredafundoffund,thereissomelimited

amountofdouble-countingofassets.

FundType

PrevalentAssetClass

Oct2022

Nov2022

Dec2022

Jan2023

Feb2023

Mar2023

Apr2023

May2023

Jun2023

Jul2023

Aug2023

Sep2023

Non-Index

USEquity

5,619

5,880

5,509

5,862

5,702

5,776

5,807

5,774

6,114

6,297

6,135

5,829

TaxableBond

3,437

3,508

3,403

3,489

3,427

3,532

3,470

3,457

3,438

3,448

3,446

3,420

GlobalEquity

2,141

2,353

2,238

2,407

2,326

2,393

2,416

2,343

2,449

2,519

2,429

2,329

Multi-Asset

1,564

1,649

1,560

1,630

1,567

1,606

1,606

1,575

1,607

1,643

1,598

1,543

MunicipalBond

850

872

853

885

864

873

875

865

871

875

864

835

Subtotal

13,611

14,261

13,563

14,271

13,886

14,179

14,173

14,014

14,479

14,783

14,471

13,956

Index

USEquity

7,334

7,724

7,281

7,774

7,567

7,708

7,779

7,767

8,307

8,625

8,433

8,046

TaxableBond

1,925

1,997

1,994

2,075

2,041

2,121

2,156

2,144

2,149

2,164

2,154

2,112

GlobalEquity

1,541

1,750

1,698

1,855

1,784

1,835

1,860

1,811

1,885

1,966

1,886

1,826

Multi-Asset

109

115

107

117

126

119

114

116

126

131

131

116

MunicipalBond

***

95

***

***

97

99

99

99

100

102

101

99

Subtotal

10,995

11,681

11,178

11,921

11,616

11,882

12,007

11,936

12,567

12,988

12,706

12,199

TotalTotal24,60625,94224,74026,19225,50126,06126,18025,95127,04627,77127,17726,155

2AsofSeptember2023,thereare13N-3fundsreportinganaggregate$221.22billioninnetassets(roughly1.03%ofaggregatemutualfundnetassets).Additionally,thereare84IntervalfundsregisteredonFormN-2reportinganaggregate$71.70billioninnetassets(roughly20.57%ofaggregateclosed-endfundnetassets).

6

Table2.3:AggregateNetAssets($Billions),byFundTypeand

PrevalentAssetClass

Thistableexcludesfundoffundsandremovesanyobservationswithnon-positivenetassets(Form

N-PORT,ItemB.1.c).Becausefundscaninvestalimitedamountinotherfundswithoutbeing

consideredafundoffund,thereissomelimitedamountofdouble-countingofassets.

FundType

PrevalentAssetClass

Oct2022

Nov2022

Dec2022

Jan2023

Feb2023

Mar2023

Apr2023

May2023

Jun2023

Jul2023

Aug2023

Sep2023

MutualFund

USEquity

8,742

9,171

8,610

9,173

8,925

9,078

9,141

9,097

9,653

9,954

9,716

9,226

TaxableBond

3,615

3,693

3,634

3,753

3,705

3,750

3,766

3,736

3,745

3,772

3,759

3,677

GlobalEquity

2,632

2,910

2,779

2,991

2,881

2,955

2,989

2,910

3,046

3,144

3,027

2,903

Multi-Asset

1,415

1,495

1,433

1,499

1,449

1,464

1,474

1,439

1,480

1,504

1,463

1,406

MunicipalBond

733

754

737

765

750

759

758

751

756

758

748

723

Subtotal

17,137

18,023

17,193

18,181

17,711

18,007

18,129

17,934

18,680

19,132

18,714

17,934

ETF

USEquity

3,939

4,179

3,935

4,200

4,086

4,148

4,189

4,190

4,500

4,702

4,606

4,400

TaxableBond

1,141

1,183

1,182

1,237

1,218

1,263

1,282

1,280

1,290

1,302

1,297

1,280

GlobalEquity

952

1,090

1,066

1,175

1,132

1,160

1,180

1,144

1,192

1,248

1,193

1,152

MunicipalBond

93

102

105

108

104

107

107

107

108

110

110

108

Multi-Asset

57

63

57

62

59

63

62

64

71

76

77

66

Subtotal

6,181

6,617

6,346

6,782

6,599

6,741

6,819

6,785

7,162

7,439

7,282

7,006

Closed-EndFund

TaxableBond

95

97

96

99

99

98

99

99

101

103

103

103

Multi-Asset

76

77

75

78

76

75

76

75

76

77

78

78

USEquity

69

73

69

73

71

72

73

72

75

77

73

69

MunicipalBond

52

56

55

58

56

56

56

56

56

56

55

52

GlobalEquity

21

23

22

24

22

23

23

22

23

24

23

22

Subtotal

313

326

317

332

324

325

327

323

331

337

332

324

Total

Total

23,632

24,966

23,856

25,295

24,633

25,073

25,275

25,042

26,173

26,907

26,328

25,265

Table2.4:AggregateIndexFundandNon-IndexFundNetAssets

($Billions)

Thistableexcludesfundoffundsandremovesanyobservationswithnon-positivenetassets(Form

N-PORT,ItemB.1.c).IndexfundindicationdrawnfromFormN-CEN,ItemC.3.Becausefundscaninvest

alimitedamountinotherfundswithoutbeingconsideredafundoffund,thereissomelimited

amountofdouble-countingofassets.

FundType

PrevalentAssetClass

Oct2022

Nov2022

Dec2022

Jan2023

Feb2023

Mar2023

Apr2023

May2023

Jun2023

Jul2023

Aug2023

Sep2023

Non-Index

USEquity

5,523

5,791

5,429

5,771

5,614

5,686

5,715

5,685

6,020

6,204

6,051

5,745

TaxableBond

2,999

3,050

2,997

3,093

3,058

3,077

3,085

3,059

3,067

3,090

3,081

3,021

GlobalEquity

2,100

2,310

2,202

2,372

2,288

2,347

2,370

2,303

2,412

2,486

2,394

2,290

Multi-Asset

1,450

1,528

1,467

1,532

1,478

1,491

1,503

1,467

1,508

1,533

1,493

1,439

MunicipalBond

792

818

801

831

814

824

823

815

821

824

813

785

Subtotal

12,863

13,497

12,895

13,598

13,252

13,426

13,496

13,329

13,828

14,137

13,832

13,280

Index

USEquity

7,227

7,632

7,186

7,675

7,468

7,612

7,688

7,675

8,207

8,529

8,344

7,950

TaxableBond

1,852

1,923

1,915

1,997

1,964

2,034

2,062

2,056

2,069

2,087

2,078

2,038

GlobalEquity

1,506

1,714

1,665

1,818

1,747

1,792

1,822

1,773

1,849

1,930

1,849

1,786

Multi-Asset

98

107

98

107

106

112

109

111

120

125

125

111

MunicipalBond

***

94

***

***

96

98

99

98

100

101

100

98

Subtotal

10,769

11,469

10,961

11,697

11,381

11,647

11,778

11,713

12,345

12,770

12,496

11,984

Total

Total

23,632

24,966

23,856

25,295

24,633

25,073

25,275

25,042

26,173

26,907

26,328

25,265

7

Table2.5:AggregateNetAssets($Billions),byFundTypeandBucketed

byNetAssets

Thistableexcludesfundoffundsandremovesanyobservationswithnon-positivenetassets(Form

N-PORT,ItemB.1.c).Seetheappendixforareviewofintervalnotationusedhere.

FundSize

FundType

Oct2022

Nov2022

Dec2022

Jan2023

Feb2023

Mar2023

Apr2023

May2023

Jun2023

Jul2023

Aug2023

Sep2023

$10billionormore

MutualFund

10,472

11,204

10,589

11,315

10,979

11,243

11,364

11,248

11,876

12,249

11,969

11,370

ETF

***

***

4,609

***

***

4,952

***

***

5,329

***

***

5,188

Closed-EndFund

***

***

23

***

***

25

***

***

26

***

***

28

Subtotal

14,974

16,069

15,222

16,349

15,814

16,220

16,423

16,286

17,231

17,837

17,410

16,586

[$500million,$10billion)

MutualFund

6,016

6,178

5,959

6,229

6,087

6,127

6,132

6,047

6,174

6,259

6,112

5,928

ETF

1,500

1,573

1,542

1,575

1,587

1,590

1,584

1,570

1,625

1,669

1,658

1,609

Closed-EndFund

219

232

213

229

218

221

222

217

225

232

225

215

Subtotal

7,735

7,984

7,714

8,033

7,891

7,938

7,938

7,834

8,025

8,159

7,995

7,751

[$50million,$500million)

MutualFund

620

613

617

610

617

608

606

611

603

598

606

610

ETF

174

173

176

179

182

181

183

184

188

190

192

190

Closed-EndFund

81

80

80

78

81

78

79

80

79

77

79

80

Subtotal

875

866

873

866

880

868

868

876

870

866

878

880

($0,$50million)

MutualFund

29

28

29

28

28

28

27

28

27

26

26

27

ETF

18

18

18

18

18

18

18

18

19

18

18

19

Closed-EndFund

1

1

1

1

1

1

1

1

1

1

1

1

Subtotal

47

47

48

47

48

48

46

48

47

45

46

47

Total

Total

23,632

24,966

23,856

25,295

24,633

25,073

25,275

25,042

26,173

26,907

26,328

25,265

Table2.6:NumberofFunds,byFundTypeandBucketedbyNetAssets

Thistableexcludesfundoffundsandremovesanyobservationswithnon-positivenetassets(Form

N-PORT,ItemB.1.c).Seetheappendixforareviewofintervalnotationusedhere.

FundSize

FundType

Oct2022

Nov2022

Dec2022

Jan2023

Feb2023

Mar2023

Apr2023

May2023

Jun2023

Jul2023

Aug2023

Sep2023

$10billionormore

MutualFund

279

294

283

294

289

291

292

289

301

307

304

294

ETF

***

***

121

***

***

128

***

***

132

***

***

132

Closed-EndFund

***

***

2

***

***

2

***

***

2

***

***

2

Subtotal

398

419

406

427

417

421

424

420

435

445

439

428

[$500million,$10billion)

MutualFund

2,765

2,826

2,768

2,844

2,796

2,806

2,806

2,769

2,817

2,846

2,796

2,740

ETF

620

644

634

649

649

657

659

653

667

684

680

676

Closed-EndFund

169

179

172

185

175

179

178

173

180

183

177

170

Subtotal

3,554

3,649

3,574

3,678

3,620

3,642

3,643

3,595

3,664

3,713

3,653

3,586

[$50million,$500million)

MutualFund

2,877

2,838

2,861

2,820

2,840

2,822

2,822

2,824

2,793

2,779

2,808

2,826

ETF

917

918

929

938

947

949

957

972

987

1,007

1,020

1,012

Closed-EndFund

359

349

353

346

356

350

351

357

353

346

352

358

Subtotal

4,153

4,105

4,143

4,104

4,143

4,121

4,130

4,153

4,133

4,132

4,180

4,196

($0,$50million)

MutualFund

1,441

1,404

1,454

1,408

1,428

1,424

1,394

1,429

1,363

1,330

1,334

1,369

ETF

1,053

1,049

1,074

1,060

1,068

1,079

1,064

1,070

1,054

1,031

1,053

1,116

Closed-EndFund

48

50

53

49

49

51

45

46

48

45

43

49

Subtotal

2,542

2,503

2,581

2,517

2,545

2,554

2,503

2,545

2,465

2,406

2,430

2,534

Total

Total

10,647

10,676

10,704

10,726

10,725

10,738

10,700

10,713

10,697

10,696

10,702

10,744

8

Table2.7:DistributionofNetAssets,byFundType($Billions)

Thisexhibitincludesfundoffundsandremovesanyobservationswithnon-positivenetassets(Form

N-PORT,ItemB.1.c).

FundType

Percentile

Oct2022

Nov2022

Dec2022

Jan2023

Feb2023

Mar2023

Apr2023

May2023

Jun2023

Jul2023

Aug2023

Sep2023

MutualFund

10th

0.017

0.017

0.017

0.018

0.017

0.017

0.018

0.016

0.017

0.018

0.018

0.017

25th

0.073

0.078

0.074

0.080

0.078

0.078

0.079

0.076

0.080

0.082

0.081

0.077

50th

0.321

0.340

0.326

0.344

0.336

0.338

0.341

0.331

0.344

0.349

0.342

0.330

75th

1.161

1.222

1.156

1.232

1.203

1.207

1.221

1.192

1.242

1.273

1.244

1.195

90th

3.859

4.034

3.848

4.097

3.960

4.040

4.064

4.045

4.202

4.307

4.188

4.047

ETF

10th

0.005

0.005

0.005

0.005

0.005

0.005

0.005

0.005

0.006

0.006

0.006

0.005

25th

0.021

0.021

0.021

0.022

0.022

0.022

0.022

0.022

0.024

0.025

0.024

0.022

50th

0.103

0.106

0.102

0.109

0.110

0.111

0.114

0.111

0.114

0.119

0.112

0.107

75th

0.564

0.591

0.566

0.598

0.586

0.584

0.593

0.575

0.596

0.618

0.602

0.565

90th

3.083

3.287

3.159

3.301

3.224

3.278

3.308

3.231

3.370

3.511

3.345

3.147

Closed-EndFund

10th

0.045

0.047

0.047

0.049

0.049

0.047

0.051

0.050

0.043

0.044

0.051

0.047

25th

0.111

0.115

0.113

0.117

0.116

0.115

0.119

0.114

0.113

0.114

0.117

0.108

50th

0.254

0.263

0.256

0.267

0.257

0.259

0.256

0.254

0.256

0.263

0.259

0.246

75th

0.545

0.569

0.564

0.579

0.571

0.570

0.575

0.566

0.575

0.586

0.577

0.565

90th

1.204

1.253

1.212

1.273

1.276

1.293

1.301

1.290

1.330

1.363

1.367

1.310

Table2.8:PercentofAggregateNetAssetsReported,byFundTypeand

CumulativePercentile

Thisexhibitincludesfundoffundsandremovesanyobservationswithnon-positivenetassets(Form

N-PORT,ItemB.1.c).

FundType

Percentile

Oct2022

Nov2022

Dec2022

Jan2023

Feb2023

Mar2023

Apr2023

May2023

Jun2023

Jul2023

Aug2023

Sep2023

AllFunds

Top2%

52.92

53.12

53.08

53.15

53.14

53.49

53.56

53.84

53.97

54.09

54.13

54.15

Top5%

68.01

68.18

68.21

68.25

68.24

68.55

68.68

68.92

69.07

69.18

69.25

69.30

Top10%

79.60

79.71

79.73

79.76

79.75

80.00

80.07

80.27

80.38

80.46

80.50

80.53

Top25%

92.13

92.17

92.16

92.18

92.16

92.29

92.31

92.41

92.44

92.48

92.49

92.52

MutualFund

Top2%

49.33

49.52

49.55

49.61

49.55

49.89

50.05

50.26

50.33

50.48

50.46

50.44

Top5%

64.56

64.75

64.81

64.86

64.88

65.22

65.31

65.55

65.65

65.75

65.83

65.79

Top10%

76.75

76.84

76.88

76.88

76.93

77.17

77.24

77.45

77.50

77.60

77.64

77.62

Top25%

90.62

90.63

90.63

90.64

90.64

90.76

90.80

90.91

90.90

90.94

90.95

90.94

ETF

Top2%

***

***

***

***

***

***

***

***

***

***

***

***

Top5%

75.82

75.74

75.78

75.66

75.40

75.76

75.85

76.12

76.33

76.26

76.34

76.55

Top10%

87.21

87.21

87.22

87.22

87.00

87.27

87.30

87.46

87.56

87.52

87.59

87.71

Top25%

96.38

96.44

96.41

96.42

96.33

96.39

96.37

96.42

96.43

96.41

96.42

96.47

Closed-EndFund

Top2%

20.49

20.93

***

21.03

21.14

***

20.67

20.67

***

20.63

20.65

***

Top5%

33.27

32.98

33.05

32.80

32.88

33.23

33.40

33.43

33.35

33.43

33.47

33.81

Top10%

47.43

47.49

47.39

47.27

47.35

47.71

47.57

47.66

48.09

47.80

47.88

48.42

Top25%

70.62

70.43

70.38

70.52

70.57

70.77

70.70

70.91

71.15

71.33

71.26

71.60

9

3FlowsandReturns

3.1FundFlows

Table3.1:AggregateInfows,Outfows,andNetFlowsofIndexandNon-

IndexFunds($Billions)

Thistableexcludesfowsfromfundoffunds(FormN-PORT,ItemB.6),indexfundindicationdrawn

fromFormN-CEN,ItemC.3.SincebothETFsandMutualFundscanbeindexfunds,bothcontributeto

therowsinthistable.

FundType

FlowType

Oct2022

Nov2022

Dec2022

Jan2023

Feb2023

Mar2023

Apr2023

May2023

Jun2023

Jul2023

Aug2023

Sep2023

All

Infow

660

688

716

628

559

705

502

566

699

619

571

580

Net

-19

-18

-119

17

-1

-28

-8

-24

25

26

-33

-20

Outfow

-679

-706

-834

-610

-560

-733

-510

-590

-674

-593

-605

-600

Index

Infow

375

381

384

321

271

428

268

306

426

373

307

346

Net

83

73

34

42

0

32

32

26

60

55

9

31

Outfow

-293

-307

-350

-279

-271

-396

-236

-280

-366

-319

-299

-315

Non-Index

Infow

285

307

332

307

288

276

234

260

273

246

264

234

Net

-102

-91

-152

-25

-1

-60

-40

-50

-35

-29

-42

-51

Outfow

-386

-398

-484

-332

-288

-336

-274

-309

-308

-275

-306

-285

Table3.2:AggregateInfows,Outfows,andNetFlowsofIndexandNon-

IndexFunds(PercentofNetAssets)

Thistableexcludesfowsfromfundoffunds(FormN-PORT,ItemB.6),indexfundindicationdrawn

fromFormN-CEN,ItemC.3.SincebothETFsandMutualFundscanbeindexfunds,bothcontributeto

therowsinthistable.Percentagesarecalculatedusinglaggednetassets(FormN-PORT,Item

B.1.c.).

FundType

FlowType

Oct2022

Nov2022

Dec2022

Jan2023

Feb2023

Mar2023

Apr2023

May2023

Jun2023

Jul2023

Aug2023

Sep2023

All

Infow

2.97

2.95

2.91

2.67

2.24

2.90

2.03

2.27

2.83

2.40

2.15

2.23

Net

-0.09

-0.08

-0.48

0.07

-0.00

-0.11

-0.03

-0.10

0.10

0.10

-0.13

-0.08

Outfow

-3.06

-3.03

-3.39

-2.59

-2.24

-3.01

-2.06

-2.36

-2.73

-2.30

-2.28

-2.31

Index

Infow

3.72

3.54

3.35

2.93

2.32

3.76

2.30

2.60

3.64

3.02

2.41

2.77

Net

0.82

0.68

0.29

0.38

-0.00

0.28

0.28

0.22

0.51

0.44

0.07

0.25

Outfow

-2.90

-2.86

-3.05

-2.54

-2.32

-3.48

-2.02

-2.38

-3.12

-2.58

-2.34

-2.52

Non-Index

Infow

2.35

2.45

2.52

2.44

2.17

2.14

1.79

1.97

2.10

1