Monthly ETF Flows
By
ETF.com Staff
November 20, 2014
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QE3 in Q3 meant equities and gold came back into favor big time, setting the stage for September to be biggest month of inflows in 2012.

 

Investors plowed more than $37 billion into U.S.-listed ETFs in September, the most since $29 billion of inflows in January of this year, as markets took to heart the Federal Reserve's latest move to stimulate the economy with a fresh round of bond buying, and took on risk, particularly in equities.

Overall, total U.S.-listed ETF assets rose 5.3 percent to $1.301 trillion from $1.235 trillion at the end of August, according to data compiled by IndexUniverse. At the end of September—and at the end of the third quarter—ETF assets were just shy of a record of nearly $1.311 trillion set on Wednesday, Sept. 19.

More than $30 billion of the September flows were in stock funds, with $22 billion of those targeting U.S. equities. In the third quarter, inflows totaled nearly $60 billion, just topping first-quarter inflows of $56 billion and nearly tripling second-quarter flows of $20.41 billion. Total assets at the end of last month were up 22.5 percent from the end of 2011, and up a third from $973.5 million a year ago.

The simple possibility of the Fed's third round of quantitative easing—QE3 in market-speak—was enough to bring investors back in droves in the third quarter and in September in particular. Similar easy-money moves by the European Central Bank and by the Bank of Japan aimed at supporting fragile growth in the global economy also encouraged investors to take risks.

 

Sept. 2012 Flows By Asset & TotalNet Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity22,290.02599,373.643.72%
International Equity8,492.31294,621.732.88%
U.S. Fixed Income2,511.72221,485.751.13%
International Fixed Income1,063.8621,051.475.05%
Commodities2,987.62123,156.862.43%
Currency111.003,019.013.68%
Leveraged- 60.0113,064.48-0.46%
Inverse- 105.7118,989.76-0.56%
Asset Allocation93.102,203.904.22%
Alternatives213.324,079.185.23%
Total:37,597.241,301,045.782.89%

Q3c2012Flows By Asset & TotalNet Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity30,740.86599,373.645.13%
International Equity13,611.98294,621.734.62%
U.S. Fixed Income6,618.08221,485.752.99%
International Fixed Income3,157.5421,051.4715.00%
Commodities4,221.47123,415.513.42%
Currency-3.063,019.01-0.10%
Leveraged-1,463.8213,064.48-11.20%
Inverse1,629.6718,989.768.58%
Asset Allocation239.752,212.8210.83%
Alternatives1,189.934,079.1829.17%
Total:59,942.401,301,313.344.61%

 


 

Popular Funds

Some of the market's biggest and most liquid equities funds were the beneficiaries of all the central bank policies, led by the SPDR S&P 500 ETF (NYSEArca: SPY), which gathered $10.5 billion in September and just over $9 billion in the entire third quarter.

Gold was also a beneficiary of QE3, as investors again fretted that with the dollar weakening, gold and other precious metals would become more reliable stores of value.

SPDR Gold Shares (NYSEArca: GLD), the $75 billion bullion fund, hauled in $1.8 billion in September and $2.41 billion in all of the third quarter.

Gold is quickly headed for $1,900 a troy ounce and, as we reported separately, silver-related ETFs were among the very-best-performing ETFs in the third quarter, rising by anywhere from around a quarter to a third in the June-September quarter.


TickerNameIssuerSeptember 2012 FlowsSeptember 2012 AUM ($, M)September 2012 Turnover
SPYSPDR S&P 500SSgA10,499.71118,358.95371,115.80
IWMiShares Russell 2000BlackRock2,799.6518,363.4071,186.47
GLDSPDR GoldSSgA1,804.5275,391.4541,887.73
VWOVanguard MSCI Emerging MarketsVanguard1,687.8757,351.4918,447.45
IJHiShares S&P 400 MidCapBlackRock1,283.1212,273.443,016.36
EWZiShares MSCI BrazilBlackRock1,021.708,556.7716,666.26
IYRiShares Dow Jones U.S. Real EstateBlackRock991.404,851.9910,810.55
HYGiShares iBoxx $ High Yield Corporate BondBlackRock990.2717,233.786,553.00
XLFFinancial Select SPDRSSgA962.827,970.5118,290.82
EEMiShares MSCI Emerging MarketsBlackRock962.3737,245.4239,147.52

TickerNameIssuerQ3 2012 FlowsQ3 2012 AUM ($, M)Q3 2012 Turnover
SPYSPDR S&P 500SSgA9,027.48118,358.951,111,111.51
VWOVanguard MSCI Emerging MarketsVanguard4,024.3657,351.4953,415.38
IWMiShares Russell 2000BlackRock3,061.4218,363.40212,469.30
GLDSPDR GoldSSgA2,408.7775,391.4596,906.32
HYGiShares iBoxx $ High Yield Corporate BondBlackRock2,141.0317,233.7818,240.05
IJHiShares S&P 400 MidCapBlackRock1,616.1312,273.445,945.42
JNKSPDR Barclays Capital High Yield BondSSgA1,425.6812,452.9811,340.63
XLFFinancial Select SPDRSSgA1,416.447,970.5147,258.09
VNQVanguard REITVanguard1,356.5014,426.529,464.62
OEFiShares S&P 100BlackRock1,117.834,995.224,277.77

 


 

SSgA, iShares … And FlexShares

State Street Global Advisors came out on top in the asset-gathering game in September, pulling in more than $16 billion last month. BlackRock's iShares, the biggest ETF company in the world, meanwhile gathered $18.3 billion in assets in the third quarter—more than any other ETF fund sponsor. For the first time in quite awhile, Vanguard didn't top the asset-gathering.

At the end of the third quarter, iShares had assets of almost $526 billion, SSgA had about $327 billion and Vanguard had just over $230 billion.

One relatively new ETF firm that had a solid third quarter was FlexShares, the unit of Chicago-based Northern Trust.

The company, which has a lineup of six funds, including three that canvass the global equities universe through the lens of small-cap/value tilts, gathered $652 million in the quarter and ended the period with more than $1.6 billion in assets. It launched its first four funds in September 2011.


September 2012 League Table
IssuerNet FlowsAUM ($M)% of AUMTurnover
BlackRock12,395.90525,907.712.36%300,381.70
SSgA16,344.36327,175.415.00%533,030.29
Vanguard5,027.43230,332.892.18%43,566.60
Invesco PowerShares378.3073,951.610.51%57,918.35
Van Eck1,245.8628,115.344.43%28,692.43
ProShares-69.1022,354.99-0.31%55,956.75
WisdomTree452.0516,783.202.69%3,322.81
Guggenheim351.9611,978.162.94%7,687.39
First Trust163.748,058.112.03%1,470.43
PIMCO519.747,802.906.66%2,490.15
Charles Schwab202.177,562.392.67%1,119.33
Barclays Capital70.186,828.301.03%11,553.41
Direxion-42.936,210.87-0.69%37,050.57
JPMorgan-5,233.770.00%572.55
ALPS182.724,376.884.17%616.18
ETF Securities40.464,353.290.93%1,102.65
US Commodity Funds-249.763,026.99-8.25%10,804.91
Northern Trust335.621,621.6720.70%328.68
Global X103.471,444.767.16%541.48
UBS59.901,270.214.72%357.94
Merrill Lynch34.871,235.522.82%189.64
Emerging Global Shares13.16773.481.70%94.68
VelocityShares45.93693.026.63%5,931.20
AdvisorShares19.95663.803.01%331.02
IndexIQ35.49544.776.52%151.19
GreenHaven7.71516.671.49%47.61
Pacer Financial1.37438.260.31%62.90
Credit Suisse24.73437.735.65%100.51
RBS Securities17.32199.218.70%81.88
Precidian-193.020.00%77.15
Russell-96.31184.23-52.28%154.75
Fidelity-184.130.00%22.63
Deutsche Bank-150.400.00%9.41
Teucrium-27.4182.11-33.39%174.13
Exchange Traded Concepts8.5179.9010.65%26.62
Jefferies-4.6279.34-5.83%7.51
FFCM-4.6851.52-9.09%30.24
Morgan Stanley-31.870.00%2.33
Columbia-25.970.00%3.44
Pax World2.6722.2911.97%3.78
Arrow Investment Advisors3.9017.4422.34%10.05
BNP Paribas-17.180.00%0.42
Factor Advisor-15.720.00%3.91
Huntington Strategy Shares0.6713.395.04%0.94
CitiGroup1.925.3435.93%6.21
Goldman Sachs---34.52

Q3 2012League Table
IssuerNet FlowsAUM ($M)% of AUMTurnover
BlackRock18,323.61525,907.713.48%853,000.92
SSgA17,540.57327,175.415.36%1,569,322.85
Vanguard12,792.95230,332.895.55%121,793.61
Invesco PowerShares3,036.9273,951.614.11%177,203.69
Van Eck1,391.9728,115.344.95%72,325.87
ProShares524.9222,354.992.35%170,857.45
WisdomTree1,033.1816,783.206.16%9,103.13
Guggenheim536.1011,978.164.48%17,906.85
First Trust350.098,058.114.34%4,638.65
PIMCO1,500.567,802.9019.23%6,775.23
Charles Schwab535.497,562.397.08%3,562.42
Barclays Capital723.056,828.3010.59%37,598.48
Direxion-257.456,210.87-4.15%117,990.02
JPMorgan-5,233.770.00%2,171.00
ALPS701.754,376.8816.03%2,048.88
ETF Securities130.144,353.292.99%2,469.84
US Commodity Funds-391.203,026.99-12.92%33,800.99
Northern Trust652.191,621.6740.22%816.93
Global X95.201,444.766.59%1,150.34
UBS165.451,270.2113.03%945.33
Merrill Lynch5.551,235.520.45%585.25
Emerging Global Shares39.30773.485.08%253.25
VelocityShares-14.34693.02-2.07%15,068.71
AdvisorShares98.54663.8014.84%999.27
IndexIQ47.48544.778.71%307.03
GreenHaven-31.76516.67-6.15%166.87
Pacer Financial-26.62438.26-6.07%143.91
Credit Suisse49.17437.7311.23%290.93
Goldman Sachs260.52267.5797.37%77.27
RBS Securities28.12199.2114.11%162.22
Precidian-193.020.00%267.40
Russell-138.47184.23-75.16%416.09
Fidelity181.96184.1398.83%70.28
Deutsche Bank4.34150.402.88%35.90
Teucrium-6.9682.11-8.47%883.10
Exchange Traded Concepts32.8679.9041.13%72.23
Jefferies-4.6279.34-5.83%20.37
FFCM11.3351.5221.98%59.92
Morgan Stanley-31.870.00%7.66
Columbia-25.970.00%11.04
Pax World2.6722.2911.97%11.27
Arrow Investment Advisors7.6617.4443.89%21.37
BNP Paribas-17.180.00%2.05
Factor Advisor-15.720.00%12.66
Huntington Strategy Shares7.6213.3956.94%9.77
CitiGroup2.595.3448.56%14.76

 


 

Biggest Losers

A number of prominent bond funds littered our list of the least-popular ETFs in both September and the third quarter, as investors shed relatively safe fixed-income investments and took on more risk in the equities market.

In September, the iShares Barclays 3-7 Year Treasury Bond Fund (NYSEArca: IEI) shed $852.5 million in assets, ending the month with just over $2 billion in assets.

In the entire third quarter, the iShares Barclays 1-3 Year Treasury Bond Fund (NYSEArca: SHY) suffered outflows of $2.25 billion and ended the period with assets of almost $8.6 billion.

The U.S. ETF market's single-biggest fixed-income fund, the iShares Barclays TIPS Bond Fund (NYSEArca: TIP), recorded redemptions of $436 million in September and $349 million in the entire third quarter. It ended the period with just over $23 billion in assets.


TickerNameIssuerSeptember 2012 FlowsSeptember 2012 AUM ($, M)September 2012 Turnover
IEIiShares Barclays 3-7 Year Treasury BondBlackRock-852.482,089.691,612.89
USTProShares Ultra 7-10 Year TreasuryProShares-556.5820.07628.49
QQQPowerShares QQQInvesco PowerShares-528.7534,766.3647,279.86
EWJiShares MSCI JapanBlackRock-522.764,214.422,760.97
SSOProShares Ultra S&P 500ProShares-496.981,088.727,451.95
TIPiShares Barclays TIPS BondBlackRock-436.3023,097.542,940.43
SHYiShares Barclays 1-3 Year Treasury BondBlackRock-405.428,590.601,615.17
BILSPDR Barclays Capital 1-3 Month T-BillSSgA-251.981,058.32653.67
XLIIndustrial Select SPDRSSgA-203.453,230.928,716.48
UNGUnited States Natural GasUS Commodity Funds-195.301,154.964,055.12

TickerNameIssuerQ3 2012 FlowsQ3 2012 AUM ($, M)Q3 2012 Turnover
SHYiShares Barclays 1-3 Year Treasury BondBlackRock- 2,245.798,590.607,001.74
IEIiShares Barclays 3-7 Year Treasury BondBlackRock- 1,159.662,089.694,955.46
EWJiShares MSCI JapanBlackRock-713.644,214.427,310.36
USTProShares Ultra 7-10 Year TreasuryProShares-684.1620.072,587.66
IEFiShares Barclays 7-10 Year Treasury BondBlackRock-606.864,576.175,938.64
BILSPDR Barclays Capital 1-3 Month T-BillSSgA-503.971,058.321,984.25
XLUUtilities Select SPDRSSgA-430.006,158.9115,310.65
FASDirexion Daily Financial Bull 3xDirexion-411.581,114.8725,417.05
SSOProShares Ultra S&P 500ProShares-361.221,088.7222,888.44
TIPiShares Barclays TIPS BondBlackRock-349.4223,097.547,269.53

ETF DAILY DATA

SPY and a host of value-focused U.S. equity ETFs raked in money Thursday, Dec. 18, as the S&P 500 jumped 2.4 percent on the day, helping propel total U.S.-listed ETF assets to $1.977 trillion

A slew of iShares funds, including 'IWM' and 'TLT,' paced BlackRock's issuer-leading inflows on Thursday, Dec. 18, as total U.S.-listed ETF assets jumped to $1.977 trillion.

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