ETFs represent 12.7% of equity assets in the U.S., 8.5% in Europe, and 4.4% in Asia-Pacific. Market share is smaller in fixed income, where ETFs account for 2.6% of fixed income assets in the U.S., 1.8% in Europe, and 0.4% in Asia-Pacific (Figures 1, 2, and 3). Chart description: Column charts showing the size of equity and fixed incomes ETF assets under management in comparison to the total equity market capitalization and total debt outstanding in the U.S., Europe, and Asia-Pacific.