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Feb. ETF Flows: VWO, EEM Steal The Show

Feb. ETF Flows: VWO, EEM Steal The Show

Related ETFs: VXX | TVIX | GLD | EFA | DEM | EEM | VWO | SPY | IVV | HYG | JNK
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Investors poured money into relatively risky emerging markets in February, making the world’s two biggest developing-markets ETFs the most popular funds. Overall, inflows totaled $13.8 billion and, including the market’s gains, total assets rose to over $1.201 trillion—4.4 percent more than a month earlier and 13.7 percent above February 2011.

While total inflows were about half of last month’s $28 billion blowout, it’s clear in the numbers that investors were taking on a lot more risk, as emerging markets are much more volatile than developed markets. Almost $5.4 billion flowed into international equities in February, compared with just $142.7 million of net inflows into U.S. equities.

Moreover, $4.15 billion flowed into U.S. fixed-income ETFs last month, with nearly half of that figure coming from the ETF market’s two biggest junk bond funds, according to data compiled by IndexUniverse. That move into junk was another sign of growing investor boldness, as high-yield debt often rallies as equity markets build up a bullish head of steam.

The Vanguard MSCI Emerging Markets ETF (NYSEArca: VWO) was the most-popular exchange-traded fund last month, gathering $2.46 billion in new assets, making it the top fund two months in a row. Riding the success of VWO, Vanguard hauled in $5.64 billion last month, more than any other ETF company. It’s still No. 3 behind iShares and State Street Global Advisors, but it’s slowly bridging the gap.

Lest last month’s flows report suggests the world economy is finally putting the economic turmoil of the past few years in the rearview mirror, the world’s biggest physical gold ETF (NYSEArca: GLD) was the No. 3 fund on our “Top Gainers” list, suggesting investors are still plenty worried about what lies ahead, even if debt-gorged Greece is on the verge of receiving a second bailout.

 

Top Gainers ($, Millions)
Ticker Name Issuer February 2012 Flows February 2012 AUM ($, M) February 2012 Turnover
VWO Vanguard MSCI Emerging Markets Vanguard 2,458.93 55,083.40 21,651.00
EEM iShares MSCI Emerging Markets BlackRock 1,447.68 41,056.79 47,402.90
GLD SPDR Gold SSgA 1,297.08 73,592.21 45,226.20
JNK SPDR Barclays Capital High Yield Bond SSgA 1,137.53 11,930.80 4,319.13
VXX iPath S&P 500 VIX Short-Term Futures ETN Barclays Capital 907.62 1,660.39 17,250.56
HYG iShares iBoxx $ High Yield Corporate Bond BlackRock 813.11 14,258.76 5,072.14
LQD iShares iBoxx $ Investment Grade Corporate Bond BlackRock 809.39 19,563.38 4,645.63
VCIT Vanguard Intermediate-Term Corporate Bond Vanguard 552.26 1,747.41 851.88
DEM WisdomTree Emerging Markets Equity Income WisdomTree 477.13 3,330.46 936.98
VNQ Vanguard REIT Vanguard 473.73 10,691.73 2,815.04

 

Asset Class Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 142.65 533,171.31 0.03%
International Equity 5,390.70 296,656.88 1.82%
U.S. Fixed Income 4,149.72 191,577.08 2.17%
International Fixed Income 395.97 13,893.92 2.85%
Commodities 2,907.21 122,537.76 2.37%
Currency -285.85 3,864.91 -7.40%
Leveraged -465.82 13,820.40 -3.37%
Inverse 498.38 20,300.24 2.46%
Asset Allocation 19.61 1,070.54 1.83%
Alternatives 1,045.91 4,231.08 24.72%
Total: 13,798.48 1,201,124.13 1.15%

 

February 2012 League Table
Issuer Net Flows AUM ($M) % of AUM Turnover
BlackRock 3,059.37 501,877.42 0.61% 334,437.26
SSgA -549.97 296,200.58 -0.19% 596,628.26
Vanguard 5,635.93 199,623.11 2.82% 46,770.35
Invesco PowerShares 1,472.43 69,063.34 2.13% 80,405.79
Van Eck -100.88 26,601.85 -0.38% 27,324.71
ProShares 355.07 22,920.10 1.55% 65,751.58
WisdomTree 900.33 15,142.76 5.95% 4,171.68
Rydex -155.31 8,241.84 -1.88% 7,127.56
Barclays Capital 982.26 7,894.96 12.44% 20,488.06
First Trust 270.03 7,541.70 3.58% 2,115.09
Direxion -315.44 7,114.68 -4.43% 64,943.14
Charles Schwab 366.39 6,322.85 5.79% 1,254.99
ETF Securities 210.10 4,417.39 4.76% 1,366.37
JPMorgan Chase 354.73 4,238.87 8.37% 1,269.71
Guggenheim 290.15 3,833.37 7.57% 998.21
PIMCO -351.38 3,744.26 -9.38% 1,282.04
US Commodity Funds 469.77 3,394.89 13.84% 12,042.23
ALPS 336.74 2,892.53 11.64% 715.29
Global X 32.49 1,392.57 2.33% 426.32
Merrill Lynch 16.35 1,366.04 1.20% 258.24
VelocityShares 336.50 1,165.22 28.88% 9,802.10
UBS -36.32 1,038.82 -3.50% 198.03
Emerging Global Shares 41.91 679.19 6.17% 134.97
GreenHaven 57.06 676.88 8.43% 140.58
FlexShares 47.68 652.05 7.31% 79.26
IndexIQ 23.38 489.69 4.77% 77.02
RevenueShares -4.57 489.54 -0.93% 75.28
Credit Suisse 38.98 434.97 8.96% 102.81
AdvisorShares 12.69 421.60 3.01% 140.45
Russell 20.66 290.77 7.11% 58.57
Precidian 14.33 193.01 7.42% 39.81
Deutsche Bank - 177.76 0.00% 8.41
RBS Securities 4.35 140.34 3.10% 35.56
Jefferies 5.02 106.32 4.72% 18.13
FocusShares 2.57 89.58 2.87% 28.98
Teucrium -0.48 82.37 -0.58% 38.47
FFCM - 44.22 0.00% 2.01
Morgan Stanley - 31.87 0.00% 1.62
Goldman Sachs -49.17 30.10 -163.34% 11.92
Columbia - 22.74 0.00% 4.38
FactorShares - 18.66 0.00% 12.54
Pax World 2.33 14.26 16.36% 11.51
CitiGroup 2.38 9.08 26.27% 5.89
Fidelity - - - 22.73

 

 

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