Monthly ETF Flows
By Staff
November 20, 2014

DXJ, the currency-hedged Japan ETF, has stolen the show so far in 2013.

Investors poured more than $18 billion into U.S. ETFs in March and over $54 billion in the entire first quarter, as DXJ, WisdomTree's currency-hedged Japan ETF, was the most popular ETF so far in 2013—a year in which inflows are on pace to easily top last year's record of $188 billion.

Globally, the ETF market raked in a record $70.1 billion in fresh assets in the first quarter, with equities accounting for 93 percent of global flows, according to BlackRock data.

The WisdomTree Japan Hedged Equity Fund (NYSEArca: DXJ) hauled in $1.1 billion in March and about $4 billion in the first quarter, as total U.S.-listed ETF assets under management rose to almost $1.467 trillion—just shy of an all-time record, according to data compiled by IndexUniverse.

Total assets at the end of the quarter were 3 percent higher than at the end of February, nearly 9 percent above year-end 2012 levels and more than 21 percent over the $1.21 trillion in total AUM a year ago.

The quarterly asset haul of $54.73 billion looks, at first blush, to be the third-biggest quarter of inflows in the 20-year history of ETFs. Last year's third quarter was the all-time high, with creations of almost $60 billion, while the nearly $56 billion in 2012's first quarter appears to be No. 2 in the pantheon of top flows.

WisdomTree's DXJ is easily the top ETF story so far in 2013, as increasing numbers of U.S. investors flock to the fund as a way to take advantage of Japan's rising stock market while steering clear of the declining yen. Japanese equities have received a shot in the arm from pledges by Japan's new leadership to weaken the yen to help spur growth there.

The renewed excitement about Japanese stocks spread to the ETF market's biggest equities fund, the iShares MSCI Japan Index Fund (NYSEArca: EWJ). It pulled in $830.6 million in March and $1.45 billion in the entire first quarter.

The flows into DXJ helped propel New York-based WisdomTree to the No. 6 spot of the U.S. ETF industry league table, with total assets of $25.1 billion. It surpassed Bethesda, Md.-based ProShares, which ended in the No. 7 spot, with just over $23.58 billion in assets.

The top ETF in inflows for the month of March was the iShares Core S&P 500 ETF (NYSEArca: IVV), which pulled in $2.27 billion. It ended the month and quarter with assets of $41.03 billion.

March 2013 Top Gainers ($, Millions)

TickerNameIssuerFlowsAUM ($, M)Turnover
IVViShares Core S&P 500BlackRock2,266.1641,031.3613,580.22
BSVVanguard Short-Term BondVanguard1,503.3111,531.182,495.94
IWMiShares Russell 2000BlackRock1,335.1421,399.9160,345.36
IWFiShares Russell 1000 GrowthBlackRock1,121.4219,407.533,951.34
DXJWisdomTree Japan Hedged EquityWisdomTree1,104.245,632.642,609.03
SSOProShares Ultra S&P 500ProShares968.512,436.239,901.78
EWJiShares MSCI JapanBlackRock830.647,275.606,054.52
USMViShares MSCI USA Minimum VolatilityBlackRock796.632,606.01732.92
VNQVanguard REITVanguard678.4418,216.723,548.18
SPYSPDR S&P 500SSgA670.49129,835.33360,998.47

2013 First-Quarter Most Popular Funds

AUM ($, M)
WisdomTree Japan Hedged EquityWisdomTree3,946.885,632.647,649.53
iShares Core S&P 500BlackRock2,358.6741,031.3637,185.60
Vanguard Short-Term BondVanguard2,230.9711,531.185,723.09
Vanguard Total Stock MarketVanguard2,154.4029,037.4910,479.93
iShares MSCI USA Minimum VolatilityBlackRock1,680.532,606.011,318.12
Vanguard REITVanguard1,677.2918,216.7211,051.58
Vanguard S&P 500Vanguard1,528.798,855.107,471.62
PowerShares Senior LoanInvesco PowerShares1,500.853,014.333,564.24
iShares MSCI JapanBlackRock1,453.277,275.6020,774.34
Financial Select SPDRSSgA1,380.1311,677.4954,386.49

March 2013 Assets By Class

March 2013 Assets By ClassNet Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity14,655.42703,682.932.08%
International Equity- 1,702.71353,550.63-0.48%
U.S. Fixed Income5,250.21233,381.442.25%
International Fixed Income- 29.9627,031.22-0.11%
Commodities- 2,246.51107,424.60-2.09%
Currency- 36.862,732.98-1.35%
Asset Allocation190.333,092.446.15%

2013 First-Quarter Flows By Assets

Q1 2013 Flows By AssetsNet Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity30,334.36685,587.384.42%
International Equity18,781.74353,550.635.31%
U.S. Fixed Income6,798.58233,381.442.91%
International Fixed Income1,711.2727,031.226.33%
Commodities- 6,666.43107,424.60-6.21%
Leveraged- 865.1014,151.49-6.11%
Asset Allocation571.613,092.4418.48%



2013 First-Quarter ETF League Table

IssuerNet FlowsAUM ($M)% of AUMTurnover
Invesco PowerShares3,622.8977,522.144.67%171,789.15
Van Eck294.9126,205.241.13%73,576.89
Charles Schwab1,649.1910,850.3715.20%6,401.70
First Trust1,412.6710,548.2613.39%6,410.14
Barclays Capital466.835,772.068.09%70,399.53
Northern Trust2,215.964,502.8149.21%2,713.06
ETF Securities161.434,192.333.85%2,345.86
US Commodity Funds-652.872,695.14-24.22%18,373.88
Global X400.371,819.8422.00%1,621.96
Merrill Lynch44.401,251.753.55%460.88
Emerging Global Shares148.441,226.9912.10%639.53
Credit Suisse46.76548.838.52%298.73
Pacer Financial16.54491.253.37%154.38
RBS Securities84.35331.5025.45%197.23
Goldman Sachs-258.370.00%61.53
Exchange Traded Concepts71.10185.2238.39%151.88
Deutsche Bank31.94181.5217.60%101.00
Arrow Investment Advisors31.7559.5453.34%56.23
Morgan Stanley-33.810.00%18.49
Pax World10.2124.4141.81%9.77
Huntington Strategy Shares2.7920.5513.58%7.13
BNP Paribas2.1919.7811.07%5.21
Factor Advisor0.4617.532.64%29.89


Leading Redemptions

The iShares MSCI Emerging Markets Index Fund (NYSEArca: EEM) was the least popular ETF last month, with redemptions of $4.19 billion. It ended the month with $45.58 billion under management. In the entire quarter, EEM had redemptions of $1.44 billion.

The world's biggest bullion fund, the SPDR Gold Shares (NYSEArca: GLD), led all redemptions in the first quarter, with outflows of $6.62 billion. GLD was No. 2 on the March redemptions list, with outflows of $1.68 billion.

The world's biggest exchange-traded fund, the SPDR S&P 500 ETF (NYSEArca: SPY), was right behind GLD on the quarterly outflows table, with redemptions totaling $5.27 billion. SPY, which ended the quarter with assets of nearly $130 billion, had inflows of $670.5 million in the month of March.

March 2013 Biggest Losers ($, Millions)

TickerNameIssuerFlowsAUM ($, M)Turnover
EEMiShares MSCI Emerging MarketsBlackRock- 4,188.4745,582.1945,230.88
GLDSPDR GoldSSgA- 1,676.6462,729.7424,739.70
IJHiShares Core S&P Mid-CapBlackRock- 1,059.0415,187.453,266.54
VWOVanguard FTSE Emerging MarketsVanguard- 1,040.0558,489.1014,675.90
FXIiShares FTSE China 25BlackRock- 874.116,701.1512,282.57
MVVProShares Ultra MidCap 400ProShares- 836.53141.541,091.41
XLIIndustrial Select SPDRSSgA- 477.464,511.578,211.07
TIPiShares Barclays TIPS BondBlackRock- 444.8420,704.682,985.56
EMBiShares J.P. Morgan USD Emerging Markets BondBlackRock- 437.445,710.562,116.53
IWRiShares Russell MidcapBlackRock- 418.587,297.161,044.12

2013 First-Quarter Biggest Losers ($, Millions)

TickerNameIssuerFlowsAUM ($, M)Turnover
GLDSPDR GoldSSgA- 6,622.9162,729.74105,775.33
SPYSPDR S&P 500SSgA- 5,271.46129,835.331,225,852.09
TIPiShares Barclays TIPS BondBlackRock- 1,471.2220,704.689,520.18
EEMiShares MSCI Emerging MarketsBlackRock- 1,437.5645,582.19140,539.11
LQDiShares iBoxx $ Investment Grade Corporate BondBlackRock- 1,379.3723,676.8416,151.44
EWZiShares MSCI Brazil CappedBlackRock- 1,369.497,848.8942,567.15
FXIiShares FTSE China 25BlackRock- 1,206.366,701.1542,479.87
EMBiShares J.P. Morgan USD Emerging Markets BondBlackRock- 936.755,710.568,133.19
IEIiShares Barclays 3-7 Year Treasury BondBlackRock- 861.102,234.812,678.52
DIASPDR Dow Jones Industrial Average TrustSSgA- 849.4111,242.1849,721.12


2013 First-Quarter ETF Giants ($, Millions)

TickerNameIssuerFlowsAUM ($, M)Turnover
SPYSPDR S&P 500SSgA- 5,271.46129,835.331,225,852.09
GLDSPDR GoldSSgA- 6,622.9162,729.74105,775.33
VWOVanguard FTSE Emerging MarketsVanguard518.7458,489.1050,987.89
EEMiShares MSCI Emerging MarketsBlackRock- 1,437.5645,582.19140,539.11
EFAiShares MSCI EAFEBlackRock673.8441,503.3565,852.76
IVViShares Core S&P 500BlackRock2,358.6741,031.3637,185.60
QQQPowerShares QQQInvesco PowerShares- 350.8931,868.73139,595.77
VTIVanguard Total Stock MarketVanguard2,154.4029,037.4910,479.93
LQDiShares iBoxx $ Investment Grade Corporate BondBlackRock- 1,379.3723,676.8416,151.44
TIPiShares Barclays TIPS BondBlackRock-1,471.2220,704.689,520.18


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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