ETFs pegged to Lehman indexes total more than $41 billion, according to Citigroup study. 

 

Citigroup has released a research report detailing the exposure that the exchange-traded funds industry has to Lehman Brothers across the wide swath of portfolios on the market.

According to the report, a total of 34 ETFs currently track various Lehman bond indexes, representing $41.8 billion in assets as of Aug. 31.

The ranking of ETF providers in terms of ETFs pegged to Lehman bond indexes is as follows:

 

Barclays Global Investors: 14 ETF portfolios SPDRs: 10 ETF portfolios The Vanguard Group: 5 ETF portfolios Market Vectors: 3 ETF portfolios ProShares: 2 ETF portfolios

 

The Citigroup tally is good information, but it's important to note that the only risk to these portfolios would occur if the underlying index provider were actually changed for the ETFs, which could trigger a major rebalancing.

However, since BGI's parent now is

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