An asset is an economic resource that provides value to an individual, a corporation, or a country. An asset is expected to provide future benefit, use, or income to its owner.
Usually, assets contain monetary value but they can also contain a physical value (such as cash, land, or even buildings). Assets can be used as claims against others (accounts receivable).
An asset can also come in the form of a right, such as a patent, trademark, or copyright.
Total Assets is also known as Assets Under Management (AUM). This represents the total market value of all the financial assets that are managed by the ETF on behalf of its investors.