Monthly ETF Flows
By
ETF.com Staff
November 20, 2014
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Pimco's 'BOND' caught wind in its young sails last month as spooked investors moved assets into fixed income.

 

Bill Gross' Pimco Total Return ETF (NYSEArca: BOND) was the 10th-most-popular ETF last month and the most conspicuous example of investors moving assets into fixed-income funds amid renewed worries about the global recovery. While net flows in April, led by bond funds, were positive to the tune of $3.37 billion, weaker stock prices helped pull total U.S-listed ETF assets down 1 percent to $1.198 trillion.

Despite the month-on-month decline, flows, as noted, were positive in April, and total assets stood almost 13 percent higher than at the end of 2011, and 5.3 percent higher than a year earlier—clear evidence that the popularity of ETFs continues to expand as more investors tune into their low costs, tax efficiency, tradability and transparency.

BOND, the ETF version of the $250 billion mutual fund, the Pimco Total Return Fund, has been on the market for just two months, and has a total of more than $664 million, according to data compiled by IndexUniverse. The new fund gathered $380.1 million in April, adding to hopes among some ETF industry sources that the fund will help expand the popularity of actively managed ETFs.

The Pimco fund was joined on IndexUniverse's "Top Gainers" list by two fixed-income mainstays of the ETF market—the iShares iBoxx $ Investment Grade Corporate Bond Fund (NYSEArca: LQD) and the iShares iBoxx $ High Yield Corporate Bond Fund (NYSEArca: HYG). Investors poured $622.5 million into LQD and $505.1 million in HYG.

With nervousness about the eurozone's debt crisis again mounting—this time the focus is on Italy and especially Spain—investors were in something of a risk-off mode, shedding stocks in favor of more stable bonds last month. The S&P 500 Index dipped 0.4 percent last month and the tech-heavy Nasdaq fell 0.7 percent. The Dow Jones industrial average did, however, finish April in the black, but just barely.

The least popular funds last month were, fittingly, focused on these three stock indexes.

At the top of our "Biggest Losers" table was the Nasdaq 100 ETF, the PowerShares QQQ Trust (NasdaqGM: QQQ), which bled $2.58 billion. The "Q's" were followed by the SPDR S&P 500 ETF (NYSEArca: SPY) and the SPDR Dow Jones Industrial Average Trust (NYSEArca: DIA), which lost $1.69 billion and $984.7 million, respectively.

While the single most popular fund last month was the small-stocks-focused iShares Russell 2000 Index Fund (NYSEArca: IWM), which gathered about $1 billion, the redemptions from QQQ, SPY and DIA were a big reason for the $685.4 million in net outflows from U.S. equities.

Still, low-cost provider Vanguard Group, to some extent, was able to buck the overall anti-equities trend, thereby continuing its seemingly inexorable climb up the U.S. ETF industry's league tables.

Top Gainers ($, Millions)

TickerNameIssuerApril 2012 FlowsApril 2012 AUM ($, M)April 2012 Turnover
IWMiShares Russell 2000BlackRock1,008.3615,611.3589,384.38
XLIIndustrial Select SPDRSSgA649.753,399.8013,299.83
LQDiShares iBoxx $ Investment Grade Corporate BondBlackRock622.4620,550.444,514.78
VOOVanguard S&P 500Vanguard618.284,018.791,309.69
VWOVanguard MSCI Emerging MarketsVanguard597.2153,869.0519,372.87
GDXMarket Vectors Gold MinersVan Eck523.268,230.8513,242.61
HYGiShares iBoxx $ High Yield Corporate BondBlackRock505.0815,078.165,968.69
VNQVanguard REITVanguard488.9912,290.703,015.61
IVViShares S&P 500BlackRock386.7430,190.879,240.33
BONDPIMCO Total ReturnPIMCO380.14664.58535.92

Biggest Losers ($, Millions)

TickerNameIssuerApril 2012 FlowsApril 2012 AUM ($, M)April 2012 Turnover
QQQPowerShares QQQInvesco PowerShares-2,582.0932,667.1273,450.14
SPYSPDR S&P 500SSgA-1,685.73103,118.67439,786.71
DIASPDR Dow Jones Industrial Average TrustSSgA-984.7111,604.1017,621.66
EFAiShares MSCI EAFEBlackRock-802.8836,486.5621,544.32
EEMiShares MSCI Emerging MarketsBlackRock-683.3438,515.2045,467.08
IJHiShares S&P 400 MidCapBlackRock-429.7210,540.832,245.84
GLDSPDR GoldSSgA-412.9167,837.7833,182.80
TLTiShares Barclays 20+ Year Treasury BondBlackRock-356.772,924.6218,424.41
XLFFinancial Select SPDRSSgA-324.236,891.7924,782.09
IWFiShares Russell 1000 GrowthBlackRock-302.1216,344.703,145.16

Asset Class Table

 Net Flows ($, mn)AUM ($, mn)% of AUM
U.S. Equity-685.64542,269.86-0.13%
International Equity502.52287,669.610.17%
U.S. Fixed Income3,964.53198,800.031.99%
International Fixed Income1,209.5715,976.097.57%
Commodities-989.46112,265.56-0.88%
Currency8.493,315.200.26%
Leveraged-222.2813,083.92-1.70%
Inverse-336.0419,812.50-1.70%
Asset Allocation-3.651,079.62-0.34%
Alternatives-78.344,127.57-1.90%
Total3,369.711,198,399.960.28%

 


 

Vanguard Exception

Net outflows from U.S. equity funds notwithstanding, three of Valley Forge, Pa.-based Vanguard's funds were on IndexUniverse's Top Gainers list. Those were:

  • Vanguard S&P 500 ETF (NYSEArca: VOO), $618.3 million
  • Vanguard MSCI Emerging Markets ETF (NYSEArca: VWO), $597.2 million
  • Vanguard REIT ETF (NYSEArca: VNQ), $489.0 million

 

In sum, Vanguard attracted a total of $4.37 billion in assets, compared with $1.25 billion for BlackRock's iShares. Vanguard remains the No. 3 ETF firm by assets, with $207.91 billion under management.

iShares remains No. 1 ETF company in the world, with $491.83 billion in assets, and State Street Global Advisors is second, with $296.34 billion.

SSgA and Invesco PowerShares—the latter the No. 4 ETF provider, had net outflows of $1.23 billion and $2.66 billion, respectively; largely because of outflows from SPY and the Nasdaq 100 ETF, QQQ.

April 2012 League Tables

IssuerNet FlowsAUM ($M)% of AUMTurnover
BlackRock1,253.83491,827.840.25%315,546.84
SSgA-1,228.91296,341.87-0.41%627,909.05
Vanguard4,366.88207,913.352.10%42,897.51
Invesco PowerShares-2,662.0868,727.95-3.87%80,904.95
Van Eck958.1525,285.953.79%25,464.36
ProShares-453.5322,489.82-2.02%66,613.16
WisdomTree257.9715,780.421.63%3,470.81
Guggenheim-52.719,469.83-0.56%2,188.21
First Trust188.867,980.282.37%1,867.64
Barclays Capital-506.487,524.83-6.73%19,495.19
Charles Schwab169.086,762.482.50%1,070.56
Direxion-104.526,527.46-1.60%58,788.92
PIMCO631.864,818.7313.11%1,521.06
JPMorgan Chase219.254,389.255.00%1,074.70
ETF Securities-12.054,035.77-0.30%758.51
ALPS246.463,305.667.46%604.11
US Commodity Funds-110.012,973.33-3.70%7,885.41
Rydex25.362,262.001.12%4,080.14
Merrill Lynch-23.031,332.10-1.73%160.82
Global X16.991,311.211.30%350.01
UBS54.841,062.165.16%165.85
VelocityShares75.951,000.357.59%4,572.50
FlexShares68.81786.608.75%109.70
Emerging Global Shares5.73708.920.81%123.65
GreenHaven-23.62603.57-3.91%78.88
IndexIQ-4.54500.20-0.91%102.13
AdvisorShares22.57496.814.54%216.05
RevenueShares-3.29486.93-0.67%46.79
Credit Suisse-2.37392.20-0.60%56.79
Russell-2.00330.59-0.60%60.07
Precidian-14.13178.35-7.92%105.41
Deutsche Bank-5.25171.83-3.06%18.35
RBS Securities4.01153.602.61%21.13
Jefferies-99.80-7.77
FocusShares1.1497.821.17%36.07
Teucrium-5.1695.81-5.39%40.11
FFCM-8.4842.45-19.97%16.36
Exchange Traded Concepts23.0032.9369.85%31.23
Morgan Stanley-31.59-3.38
Columbia-23.12-4.03
Pax World1.1319.545.79%6.32
FactorShares-16.98-8.53
CitiGroup-7.70-3.48
Fidelity---41.58
Goldman Sachs---24.78

 



 

Size And Liquidity

The 10 biggest ETFs on the market included on our "ETF Giants" table below remained unchanged in March, with SPY leading the way, followed by the SPDR Gold Shares (NYSEArca: GLD) physical bullion ETF, and Vanguard's VWO.

Also, SPY by far remained the most heavily traded ETF, followed by IWM and the Q's, as our "Liquidity Mavens" table below shows.

ETF Giants

TickerNameIssuerApril 2012 FlowsApril 2012 AUM ($, M)April 2012 Turnover
SPYSPDR S&P 500SSgA-1,685.73103,118.67439,786.71
GLDSPDR GoldSSgA-412.9167,837.7833,182.80
VWOVanguard MSCI Emerging MarketsVanguard597.2153,869.0519,372.87
EEMiShares MSCI Emerging MarketsBlackRock-683.3438,515.2045,467.08
EFAiShares MSCI EAFEBlackRock-802.8836,486.5621,544.32
QQQPowerShares QQQInvesco PowerShares-2,582.0932,667.1273,450.14
IVViShares S&P 500BlackRock386.7430,190.879,240.33
TIPiShares Barclays TIPS BondBlackRock120.3722,741.622,475.29
VTIVanguard Total Stock MarketVanguard276.1621,623.592,789.00
LQDiShares iBoxx $ Investment Grade Corporate BondBlackRock622.4620,550.444,514.78

Liquidity Mavens

TickerNameIssuerApril 2012 FlowsApril 2012 AUM ($, M)April 2012 Turnover
SPYSPDR S&P 500SSgA-1,685.73103,118.67439,786.71
IWMiShares Russell 2000BlackRock1,008.3615,611.3589,384.38
QQQPowerShares QQQInvesco PowerShares-2,582.0932,667.1273,450.14
EEMiShares MSCI Emerging MarketsBlackRock-683.3438,515.2045,467.08
GLDSPDR GoldSSgA-412.9167,837.7833,182.80
XLFFinancial Select SPDRSSgA-324.236,891.7924,782.09
EFAiShares MSCI EAFEBlackRock-802.8836,486.5621,544.32
XLEEnergy Select SPDRSSgA-63.047,767.0019,929.04
VWOVanguard MSCI Emerging MarketsVanguard597.2153,869.0519,372.87
TLTiShares Barclays 20+ Year Treasury BondBlackRock-356.772,924.6218,424.41

ETF DAILY DATA

A broad array of U.S.-focused equity and bond ETFs gathered money on Wednesday, Dec. 17, as a market bounce and net inflows lifted total U.S.-listed ETF assets to $1.939 trillion.

'SPY' paced SSgA's issuer-leading inflows on Wednesday, Dec. 17, as total U.S.-listed ETF assets rose to $1.939 trillion.

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