ETF assets were up $56 billion or 10.6% in May.  Year-to-date, ETF assets are up 10% compared to 4% for the U.S. stock market.

The monthly ETF snapshot report by State Street Global Advisors says that US assets in exchange traded funds now total $587 billion.

The biggest gainer was International, up $24 billion or 22%.  Commodity and size specific ETFs also recorded significant gains.

The industry continued to experience consolidation in May as 5 new ETFs were launched and 19 were closed.

See the ETF Directory for a complete listing.