The use of ETFs has also evolved over time, as shown by regular observations of investment professionals’ practices in Europe. EDHEC surveys show an increasing propagation of ETF adoption over the years, especially for traditional asset classes. While ETFs are now used across a wide spectrum of asset classes, in 2019 the main use is currently in the area of equities and sectors, for 91% (45% in 2006 ) and 83% of the survey respondents, respectively. This is likely to be linked to the popularity of indexing in these asset classes, as well as to the fact that equity indices and sector indices are based on highly liquid instruments, which makes it straightforward to create ETFs on such underlying securities. The other asset classes for which a large share of investors declare using ETFs are commodities and corporate bonds (68% for them both, to be compared with 6% and 15% in 2006, respectively), smart beta-factor investing and government bonds (66% for them both, to be compared with 13% for government bonds in 2006).