Unadjusted flow from ICI unpublished Exchange-Traded Funds Report, Table 3 Net Issuance of Shares, Equity Funds Total, plus Table 8 Net Issuance of Shares, Hybrid times the share of equity held by hybrid open-end mutual funds, summed for the three months of the quarter. Level from Table 1 Total Net Assets, Equity Funds plus Table 6 Historical Total Net Assets, Hybrid times the share of equity held by hybrid open-end mutual funds. Capital gains are the change in the level less the unadjusted flow. Data for the most recent ten years show no significant seasonality.
