Morgan Stanley by the end of the year will begin rating 30 index-linked exchange-traded funds out of a total of 119 such funds. The tracked batch will include 25 U.S. equity index funds and five international indexes. The domestic funds will include eight broad market funds; 10 sector funds; six style, growth and value funds; and one industry fund.

Paul Mazzilli, director of Morgan Stanley's ETF research team, said the selected ETFs are the larger, more liquid funds with more than $75 million in assets that have traded for more than one year.

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