Fixed Income ETF Inflows Hot In April

May 01, 2018

After pulling money out of ETFs two months in a row, investors went on a buying spree in April. In total, $28.4 billion flowed into U.S.-listed ETFs during the month, following outflows of $4.4 billion in February and outflows of $2.7 billion in March.

April’s solid showing pushed year-to-date inflows up to $89.7 billion, but they have a long way to go to catch up to last year’s heady levels. At the end of April 2017, year-to-date inflows stood at $170.9 billion—nearly double this year’s levels.

International Equity ETFs Leading In 2018

Last month’s ETF inflows were aided by a more stable stock market. The S&P 500 edged up from its lows of the year after holding the widely watched 200-day moving average around 2,600. Strong corporate earnings announcements helped offset persistent concerns about trade wars and rising interest rates.

Investors added $5.4 billion to U.S. equity ETFs and $4.6 billion to international equity ETFs during April. On a year-to-date basis, international equity ETFs are far and away in the lead, picking up nearly 10 times the amount of money as U.S. equity ETFs—$44.7 billion compared to $4.7 billion.

The iShares Core MSCI Emerging Markets ETF (IEMG) and the iShares Core MSCI EAFE ETF (IEFA) have been some of the biggest winners in the international equity ETF space both in April and for the year as a whole.

April Huge For Fixed-Income ETFs

International equity ETFs may be the most popular ETFs for 2018 as a whole, but the month of April belonged to fixed-income ETFs. That segment pulled in a cool $15.2 billion during the month, equal to 60% of its year-to-date haul.

Though interest rate risk remains a worry, with multiple Fed rate hikes likely on the way this year and next, rates may have reached an attractive level for some long-term investors.

In the past week, the U.S. 10-year Treasury yield hit a four-year high of 3.04%, while the two-year Treasury yield hit a 10-year high of 2.5%. If interest rates continue creeping up, bond prices will fall further, but for investors content to sit on their positions until maturity, that may not matter.

The iShares Short Treasury Bond ETF (SHV) was the big winner in the fixed-income space during April, with inflows of $2.5 billion. The fund, which holds Treasuries with less than a year to maturity, has a 30-day SEC yield of 1.7%, which suddenly looks attractive after years of near-zero interest rates.

The iShares 20+ Year Treasury Bond ETF (TLT), the iShares Core U.S. Aggregate Bond ETF (AGG) and the iShares Floating Rate Bond ETF (FLOT) were a few other fixed-income winners during the month of April.

For a full list of the ETFs with the largest inflows and outflows for April and 2018 as a whole, see the tables below:

 

Top Gainers (April 2018)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM YTD 2018 Net Flows($,M)
SHV iShares Short Treasury Bond ETF BlackRock 2,525.25 13,846.05 22.31% 5,844.42
IVV iShares Core S&P 500 ETF BlackRock 1,844.76 143,811.94 1.30% 2,718.82
IEMG iShares Core MSCI Emerging Markets ETF BlackRock 1,836.16 50,557.84 3.77% 7,968.17
IEFA iShares Core MSCI EAFE ETF BlackRock 1,813.46 58,805.38 3.18% 16,385.59
TLT iShares 20+ Year Treasury Bond ETF BlackRock 1,700.50 7,806.94 27.85% 1,116.45
AGG iShares Core U.S. Aggregate Bond ETF BlackRock 1,628.95 55,776.76 3.01% 4,390.44
FLOT iShares Floating Rate Bond ETF BlackRock 1,220.95 9,110.99 15.47% 2,493.52
GLD SPDR Gold Trust State Street Global Advisors 1,086.24 37,004.17 3.02% 1,485.10
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF BlackRock 960.41 32,459.27 3.05% -4,788.92
SHY iShares 1-3 Year Treasury Bond ETF BlackRock 942.30 12,431.75 8.20% 1,192.10

 

Top Gainers (Year-to-Date)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM April 2018 Net Flows($,M)
IEFA iShares Core MSCI EAFE ETF BlackRock 16,385.59 58,805.38 38.63% 1,813.46
IEMG iShares Core MSCI Emerging Markets ETF BlackRock 7,968.17 50,557.84 18.71% 1,836.16
SHV iShares Short Treasury Bond ETF BlackRock 5,844.42 13,846.05 73.04% 2,525.25
VOO Vanguard S&P 500 ETF Vanguard 4,536.06 88,014.66 5.43% 572.70
AGG iShares Core U.S. Aggregate Bond ETF BlackRock 4,390.44 55,776.76 8.54% 1,628.95
VEA Vanguard FTSE Developed Markets ETF Vanguard 3,563.98 72,174.58 5.19% 360.25
IVV iShares Core S&P 500 ETF BlackRock 2,718.82 143,811.94 1.93% 1,844.76
EEM iShares MSCI Emerging Markets ETF BlackRock 2,600.23 41,873.67 6.62% 0.00
FLOT iShares Floating Rate Bond ETF BlackRock 2,493.52 9,110.99 37.68% 1,220.95
BNDX Vanguard Total International Bond ETF Vanguard 2,357.03 11,508.86 25.75% 420.85

 

Biggest Losers (April 2018)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM YTD 2018 Net Flows($,M)
SPY SPDR S&P 500 ETF Trust State Street Global Advisors -1,119.63 256,763.74 -0.43% -19,079.72
XLP Consumer Staples Select Sector SPDR Fund State Street Global Advisors -1,041.57 7,606.75 -12.04% -939.76
EFA iShares MSCI EAFE ETF BlackRock -887.51 78,349.12 -1.12% -7,245.59
HEFA iShares Currency Hedged MSCI EAFE ETF BlackRock -667.96 3,558.49 -15.80% -967.77
GDX VanEck Vectors Gold Miners ETF VanEck -628.80 7,904.22 -7.37% 431.42
EZU iShares MSCI Eurozone ETF BlackRock -612.19 13,980.35 -4.20% -1,677.71
MTUM iShares Edge MSCI USA Momentum Factor ETF BlackRock -521.56 7,741.40 -6.31% 2,126.95
XLE Energy Select Sector SPDR Fund State Street Global Advisors -504.84 18,536.72 -2.65% 64.60
KRE SPDR S&P Regional Banking ETF State Street Global Advisors -467.54 4,972.27 -8.59% 427.22
SJNK SPDR Bloomberg Barclays Short Term High Yield Bond ETF State Street Global Advisors -466.53 3,682.10 -11.25% -671.62

 

Biggest Losers (Year-to-Date)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM April 2018 Net Flows($,M)
SPY SPDR S&P 500 ETF Trust State Street Global Advisors -19,079.72 256,763.74 -6.92% -1,119.63
EFA iShares MSCI EAFE ETF BlackRock -7,245.59 78,349.12 -8.46% -887.51
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF BlackRock -4,788.92 32,459.27 -12.86% 960.41
IWD iShares Russell 1000 Value ETF BlackRock -4,179.23 36,258.50 -10.33% -431.71
JNK SPDR Bloomberg Barclays High Yield Bond ETF State Street Global Advisors -3,034.00 9,374.08 -24.45% 415.92
HYG iShares iBoxx $ High Yield Corporate Bond ETF BlackRock -2,620.99 14,782.52 -15.06% 609.14
DXJ WisdomTree Japan Hedged Equity Fund WisdomTree -2,541.98 6,666.66 -27.60% -153.34
VNQ Vanguard Real Estate ETF Vanguard -2,387.00 29,582.31 -7.47% -168.71
EZU iShares MSCI Eurozone ETF BlackRock -1,677.71 13,980.35 -10.71% -612.19
FIGY Barclays ETN+FI Enhanced Global High Yield ETN Barclays Bank PLC -1,499.30 114.89 -92.88% -16.03

 

Asset Classes (April 2018)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 5,407.79 1,922,273.37 0.29%
International Equity 4,561.72 848,402.20 0.54%
U.S. Fixed Income 15,206.40 537,528.95 2.85%
International Fixed Income 1,086.52 62,332.71 1.71%
Commodities  2,155.23 71,533.96 3.03%
Currency 61.73 1,438.47 4.29%
Leveraged -238.19 35,446.77 -0.73%
Inverse -6.27 13,462.73 -0.03%
Asset Allocation 206.61 9,129.95 2.27%
Alternatives -46.35 4,249.86 0.62%
Total: 28,389.35 3,505,794.52 0.82%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 4,698.16 1,922,225.40 0.25%
International Equity 44,737.91 848,402.20 5.32%
U.S. Fixed Income 25,014.13 537,528.95 4.66%
International Fixed Income 6,348.97 62,332.71 10.13%
Commodities  4,486.73 71,533.96 6.32%
Currency 173.76 1,438.47 12.3%
Leveraged 1,913.29 35,446.77 5.03%
Inverse 2,299.32 13,462.73 16.69%
Asset Allocation 417.45 9,129.95 4.54%
Alternatives -431.52 4,249.86 -8.38%
Total: 89,658.20 3,505,794.52 2.57%

 

April 2018 League Table

Issuer Net Flows ($,M) AUM ($,M) % of AUM YTD 2018 Net Flows($,M)
BlackRock 16,293.50 1,385,547.46 1.18% 40,040.13
Vanguard 3,853.93 872,532.74 0.44% 23,922.28
State Street Global Advisors 3,422.73 610,752.47 0.56% -8,648.01
Invesco PowerShares 60.19 177,251.23 0.03% 1,664.65
Charles Schwab 1,975.57 107,582.35 1.84% 9,173.16
First Trust 1,018.76 63,295.84 1.61% 5,219.92
WisdomTree -218.69 43,797.71 -0.50% -2,322.47
VanEck -372.42 35,873.96 -1.04% 1,968.25
ProShares -418.47 29,784.11 -1.41% 3,086.93
Northern Trust 90.22 16,823.78 0.54% 723.33
PIMCO 220.44 16,066.01 1.37% 1,375.12
ALPS 375.50 13,780.33 2.72% -56.54
Direxion 81.12 13,379.68 0.61% 1,101.30
Deutsche Bank 76.12 12,404.35 0.61% -979.85
Fidelity -125.85 10,390.18 -1.21% 1,578.17
Global X 309.74 10,157.89 3.05% 2,066.20
Goldman Sachs 233.98 7,349.14 3.18% 900.79
JPMorgan 344.59 7,208.21 4.78% 1,112.45
UBS -113.77 6,739.91 -1.69% -131.67
Barclays Bank PLC 38.54 5,778.48 0.67% -232.49
Exchange Traded Concepts 44.78 5,414.79 0.83% 664.80
IndexIQ 99.87 4,222.72 2.37% 737.52
Credit Suisse -34.77 4,055.69 -0.86% -322.32
The Principal Financial Group 386.94 3,569.57 10.84% 1,454.42
US Commodity Funds 52.89 3,209.40 1.65% -623.12
ETF Securities 33.68 2,808.26 1.20% 167.21
Victory Capital Management -3.21 2,688.48 -0.12% 447.17
OppenheimerFunds -13.44 2,519.29 -0.53% 64.14
ETF Managers Group 104.46 2,512.90 4.16% 675.01
Pacer Financial 109.22 2,090.77 5.22% 527.68
KraneShares 21.98 2,024.13 1.09% 513.77
ARK 46.81 1,532.21 3.05% 686.56
Guggenheim -16.30 1,243.69 -1.31% -21.88
Columbia -32.13 1,233.12 -2.61% -54.17
Franklin Templeton Investments 6.12 1,222.17 0.50% 204.37
John Hancock 40.83 1,198.80 3.41% 115.47
AdvisorShares 22.92 1,096.68 2.09% 38.30
Virtus -7.42 1,008.55 -0.74% 68.83
USAA Asset Management 229.80 985.88 23.31% 632.54
Millington Securities Inc 3.83 964.72 0.40% -3.83
Northern Lights 37.70 902.34 4.18% 119.32
Legg Mason -0.19 807.57 -0.02% 170.42
Transamerica 13.29 807.19 1.65% -39.36
Cambria -5.51 768.14 -0.72% 66.38
CitiGroup 35.52 739.20 4.81% 121.67
Hartford 103.29 667.99 15.46% 303.78
Innovator Capital Management 8.42 622.04 1.35% 123.99
Highland Capital Management 19.88 588.81 3.38% 21.60
FQF Trust -2.52 530.50 -0.48% -90.38
Amplify 35.68 501.88 7.11% 315.25
Janus Henderson 46.70 487.76 9.58% 201.01
Davis 27.43 476.42 5.76% 116.56
Nuveen 5.92 462.28 1.28% 53.10
Alpha Architect 19.17 454.79 4.21% 128.18
Nationwide Fund Advisors 13.60 381.24 3.57% 24.38
Horizons 6.06 304.11 1.99% 51.50
Reality Shares 11.45 251.58 4.55% 160.75
Arrow Investment Advisors -9.23 179.72 -5.14% 13.32
Teucrium 7.47 172.67 4.32% 18.61
Merk 2.70 146.84 1.84% 7.42
BMO 9.74 146.50 6.65% 9.74
OSI ETF Trust -2.66 134.09 -1.98% 33.71
Montage Managers 0.95 126.22 0.76% 11.63
Aptus Capital Advisors 9.71 119.92 8.10% 60.26
ClearShares 0.00 112.75 0.00% 0.00
US Global Investors 0.00 112.10 0.00% 3.12
The RBB Fund 4.70 101.87 4.62% 101.89
Strategy Shares 2.92 101.30 2.88% 19.68
TrimTabs Asset Management 7.77 79.45 9.78% 31.33
EntrepreneurShares, LLC 0.00 67.19 0.00% 9.09
GraniteShares 1.33 62.28 2.13% 29.97
OBP Capital LLC 1.22 54.65 2.23% 5.10
Exponential ETFs 0.77 53.94 1.42% 3.08
Natixis 0.00 42.65 0.00% 4.72
Point Bridge Capital 0.00 39.22 0.00% 5.77
Morgan Stanley -0.00 30.06 -0.00% -0.00
AlphaMark Advisors 0.00 26.67 0.00% 0.00
Validea Capital Management 0.02 26.55 0.09% 0.02
Premise Capital -0.04 25.29 -0.16% 6.03
Renaissance Capital 0.00 21.03 0.00% 0.00
Diamond Hill 0.00 20.55 0.00% 1.52
American Century 0.00 19.11 0.00% 18.60
Metaurus Advisors -0.00 16.56 -0.00% 11.43
CSOP 0.00 11.42 0.00% 1.91
Sage Advisory Services 0.00 9.69 0.00% 0.00
Advisors Asset Management 2.61 9.20 28.42% 3.90
StrongVest 0.00 8.63 0.00% 0.00
Active Weighting Advisors -1.62 8.56 -18.98% -6.37
TriLine Index Solutions 0.00 6.52 0.00% 6.25
Cboe Vest Financial 1.99 6.03 33.04% 5.99
Little Harbor Advisors 5.64 5.65 99.95% 5.64
USCF Advisers 0.00 5.14 0.00% 0.00
AlphaClone 0.00 5.03 0.00% 0.03
Regents Park Funds 0.00 4.83 0.00% 2.49
SerenityShares 0.00 4.07 0.00% 0.00
Change Finance 0.00 3.81 0.00% 0.96
SL Advisors 0.00 3.59 0.00% 0.00
Whitford Asset Management -0.01 3.08 -0.46% 0.63
Swedish Export Credit 0.00 0.00 0.00% 0.00

Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.

 

Find your next ETF

CLEAR FILTER