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Sept/Q3 ETF Flows: Risk Trade Is Back On

Sept/Q3 ETF Flows: Risk Trade Is Back On

Related ETFs: GLD | SPY | TIP | IEI | SHY
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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 & Total Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 22,290.02 599,373.64 3.72%
International Equity 8,492.31 294,621.73 2.88%
U.S. Fixed Income 2,511.72 221,485.75 1.13%
International Fixed Income 1,063.86 21,051.47 5.05%
Commodities 2,987.62 123,156.86 2.43%
Currency 111.00 3,019.01 3.68%
Leveraged - 60.01 13,064.48 -0.46%
Inverse - 105.71 18,989.76 -0.56%
Asset Allocation 93.10 2,203.90 4.22%
Alternatives 213.32 4,079.18 5.23%
Total: 37,597.24 1,301,045.78 2.89%

Q3c2012Flows By Asset & Total Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 30,740.86 599,373.64 5.13%
International Equity 13,611.98 294,621.73 4.62%
U.S. Fixed Income 6,618.08 221,485.75 2.99%
International Fixed Income 3,157.54 21,051.47 15.00%
Commodities 4,221.47 123,415.51 3.42%
Currency -3.06 3,019.01 -0.10%
Leveraged -1,463.82 13,064.48 -11.20%
Inverse 1,629.67 18,989.76 8.58%
Asset Allocation 239.75 2,212.82 10.83%
Alternatives 1,189.93 4,079.18 29.17%
Total: 59,942.40 1,301,313.34 4.61%

 

 

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