Total assets in U.S. exchange-traded funds fell 5.8%, or $45 billion, in January from a month earlier, according to monthly data from State Street Corp. [STT]

That brought ETF assets in the U.S. down to $730 billion. In December, global ETF assets hit the coveted $1 trillion milestone. The drop in U.S. assets was mostly in line with the market’s disappointing performance in January, as the S&P 500 fell 3.6% and the MSCI EAFE Index lost 4.4%.

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