## [# July ETF Inflows Slow 2021’s Pace](/sections/monthly-etf-flows/july-etf-inflows-slow-2021s-pace) # July ETF Inflows Slow 2021’s Pace The U.S. ETF industry crossed the $500 billion mark, but with shivers due to inflation and the delta variant. [![ETF.com](/sites/default/files/styles/author_image_icon/public/2023-12/etf.com_400x400.png?itok=LO34LQE1)](/contributors/etfcom-staff) [By ETF.com Staff](/contributors/etfcom-staff) Aug 03, 2021 Edited by: ETF.com Staff [ + Follow ](/etf/login) Share Email LinkedIn Facebook X (Twitter) googletag.cmd.push(function() { googletag.display('js-dfp-tag-article_page_302x26'); }); Loading Flows into U.S.-based ETFs reached their lowest monthly level since last October, as dual fears of inflation and the COVID-19 Delta variant sending scores of unvaccinated Americans to the hospital tamped the industry’s animal spirits through the first half of 2021. While not exactly a slouch of a month, figures from ETF.com data provider FactSet show the industry had net inflows of $48.4 billion in July, enough to pierce the $500 billion inflow mark at the very end of the month. Investors have now put a net $520.3 billion into exchange-traded products year-to-date, a figure almost 70% higher than the net flows posted in July of last year. **Major Asset Classes Slow** The drop was most clear in U.S. equities, which fell from $37.7 billion in June to roughly $19 billion in July as investors sought risk-off positions, considered long-term macroeconomic growth rates and readjusted portfolios for the back half of the year. While less pronounced, international equity inflows slowed from June by just under $7 billion during the two months to $12.9 billion in July, and U.S. fixed income fund flows declined by $2.7 billion from June for a net gain of $12.7 billion in the same time period. The [**Vanguard S&P 500 ETF (VOO)**](https://www.etf.com/VOO) was No. 1 on our July inflows chart, ending the month with more than $5 billion flows, further solidifying its status as the largest fund by inflows this year. Closely following VOO was the [**Vanguard Short-Term Bond ETF (BSV)**](https://www.etf.com/BSV), with inflows of $4.9 billion. Commodities extended its outflow streak from June, driven in part by the slip in oil prices midway through July connected to worries that the Delta variant’s spread would curb demand for travel. **Quality, Safety Cycles In** The slowdown in aggressive equities was paired with flows into a handful of more defensive positions. The [**iShares TIPS Bond ETF (TIP)**](https://www.etf.com/TIP) gained $2.6 billion in the month after the headline inflation prints left some inflation hawks shaken. The [**iShares MSCI USA Quality Factor ETF (QUAL)**](https://www.etf.com/QUAL) also made an appearance in the top 10 gainers of the month, adding just under $1.6 billion in assets after it was shunned by traders with animal spirits. QUAL had net outflows of approximately $1.2 billion year-to-date at the end of July. **Real Estate Funds Struggle** The [**iShares U.S. Real Estate ETF (IYR)**](https://www.etf.com/IYR) was by far the biggest loser in the month after investors pulled nearly $2.2 billion from the fund. Half of that amount was pulled in the first week of July alone as fears of a broader price bubble emerged among traders and took the fund to a net outflow of almost $1 billion year-to-date. In comparison, the [**Vanguard Real Estate Fund (VNQ)**](https://www.etf.com/VNQ) recorded a slight gain with $316 million in inflows for the month. However, it has posted net inflows of $4.4 billion year-to-date and likely took some market share from IYR due to it having similar exposures but being cheaper to the tune of 29 basis points. For a full list of this week’s top inflows and outflows, see the tables below: Top Gainers (July 2021) TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMYTD 2021 Net Flows($,M)[VOO](https://www.etf.com/VOO)[Vanguard S&P 500 ETF](https://www.etf.com/VOO)Vanguard5,040.77243,523.212.07%31,638.06[BSV](https://www.etf.com/BSV)[Vanguard Short-Term Bond ETF](https://www.etf.com/BSV)Vanguard4,921.2839,513.2412.45%10,106.66[VTI](https://www.etf.com/VTI)[Vanguard Total Stock Market ETF](https://www.etf.com/VTI)Vanguard3,245.52260,603.971.25%23,405.99[XLV](https://www.etf.com/XLV)[Health Care Select Sector SPDR Fund](https://www.etf.com/XLV)State Street Global Advisors2,964.4232,192.229.21%2,497.36[TIP](https://www.etf.com/TIP)[iShares TIPS Bond ETF](https://www.etf.com/TIP)Blackrock2,624.1031,509.218.33%4,462.65[IEFA](https://www.etf.com/IEFA)[iShares Core MSCI EAFE ETF](https://www.etf.com/IEFA)Blackrock2,354.1399,199.102.37%7,720.46[VEA](https://www.etf.com/VEA)[Vanguard FTSE Developed Markets ETF](https://www.etf.com/VEA)Vanguard1,945.40103,504.831.88%7,673.67[ESGU](https://www.etf.com/ESGU)[iShares ESG Aware MSCI USA ETF](https://www.etf.com/ESGU)Blackrock1,933.5620,745.469.32%4,809.62[VT](https://www.etf.com/VT)[Vanguard Total World Stock ETF](https://www.etf.com/VT)Vanguard1,901.0623,886.017.96%4,694.63[QUAL](https://www.etf.com/QUAL)[iShares MSCI USA Quality Factor ETF](https://www.etf.com/QUAL)Blackrock1,581.4023,883.006.62%-1,165.01Top Gainers (Year-to-Date) TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMJuly 2021 Net Flows($,M)[VOO](https://www.etf.com/VOO)[Vanguard S&P 500 ETF](https://www.etf.com/VOO)Vanguard31,638.06243,523.2112.99%5,040.77[VTI](https://www.etf.com/VTI)[Vanguard Total Stock Market ETF](https://www.etf.com/VTI)Vanguard23,405.99260,603.978.98%3,245.52[IVV](https://www.etf.com/IVV)[iShares Core S&P 500 ETF](https://www.etf.com/IVV)Blackrock14,030.66295,651.904.75%1,517.47[BND](https://www.etf.com/BND)[Vanguard Total Bond Market ETF](https://www.etf.com/BND)Vanguard13,146.8480,374.1016.36%1,017.80[VTV](https://www.etf.com/VTV)[Vanguard Value ETF](https://www.etf.com/VTV)Vanguard10,705.7082,782.0512.93%505.46[BSV](https://www.etf.com/BSV)[Vanguard Short-Term Bond ETF](https://www.etf.com/BSV)Vanguard10,106.6639,513.2425.58%4,921.28[IEMG](https://www.etf.com/IEMG)[iShares Core MSCI Emerging Markets ETF](https://www.etf.com/IEMG)Blackrock9,733.0479,225.4112.29%506.76[IUSB](https://www.etf.com/IUSB)[iShares Core Total USD Bond Market ETF](https://www.etf.com/IUSB)Blackrock9,168.1415,177.0360.41%558.80[XLF](https://www.etf.com/XLF)[Financial Select Sector SPDR Fund](https://www.etf.com/XLF)State Street Global Advisors8,171.5339,747.1120.56%-703.50[BNDX](https://www.etf.com/BNDX)[Vanguard Total International Bond ETF](https://www.etf.com/BNDX)Vanguard7,827.7244,697.0817.51%1,323.44Biggest Losers (July 2021) TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMYTD 2021 Net Flows($,M)[IYR](https://www.etf.com/IYR)[iShares U.S. Real Estate ETF](https://www.etf.com/IYR)Blackrock-2,181.595,513.25-39.57%-989.61[IWM](https://www.etf.com/IWM)[iShares Russell 2000 ETF](https://www.etf.com/IWM)Blackrock-1,795.5165,458.72-2.74%-619.54[GOVT](https://www.etf.com/GOVT)[iShares U.S. Treasury Bond ETF](https://www.etf.com/GOVT)Blackrock-1,765.5315,511.07-11.38%1,139.92[IGSB](https://www.etf.com/IGSB)[iShares 1-5 Year Investment Grade Corporate Bond ETF](https://www.etf.com/IGSB)Blackrock-1,466.5425,216.31-5.82%3,010.60[IJR](https://www.etf.com/IJR)[iShares Core S&P Small-Cap ETF](https://www.etf.com/IJR)Blackrock-1,132.4468,024.70-1.66%1,263.65[ARKK](https://www.etf.com/ARKK)[ARK Innovation ETF](https://www.etf.com/ARKK)ARK-1,029.2222,669.85-4.54%6,612.71[IJS](https://www.etf.com/IJS)[iShares S&P Small-Cap 600 Value ETF](https://www.etf.com/IJS)Blackrock-979.948,697.57-11.27%817.45[SPY](https://www.etf.com/SPY)[SPDR S&P 500 ETF Trust](https://www.etf.com/SPY)State Street Global Advisors-977.15382,335.06-0.26%-2,692.18[XLB](https://www.etf.com/XLB)[Materials Select Sector SPDR Fund](https://www.etf.com/XLB)State Street Global Advisors-949.918,691.27-10.93%2,749.03[XLY](https://www.etf.com/XLY)[Consumer Discretionary Select Sector SPDR Fund](https://www.etf.com/XLY)State Street Global Advisors-934.6919,674.12-4.75%-1,102.92Biggest Losers (Year-to-Date) TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMJuly 2021 Net Flows($,M)[LQD](https://www.etf.com/LQD)[iShares iBoxx USD Investment Grade Corporate Bond ETF](https://www.etf.com/LQD)Blackrock-13,423.0240,774.25-32.92%14.83[USMV](https://www.etf.com/USMV)[iShares MSCI USA Min Vol Factor ETF](https://www.etf.com/USMV)Blackrock-8,177.9028,413.64-28.78%-82.01[GLD](https://www.etf.com/GLD)[SPDR Gold Trust](https://www.etf.com/GLD)State Street Global Advisors-7,717.8959,561.02-12.96%-812.80[HYG](https://www.etf.com/HYG)[iShares iBoxx USD High Yield Corporate Bond ETF](https://www.etf.com/HYG)Blackrock-5,950.6619,969.43-29.80%-340.78[JNK](https://www.etf.com/JNK)[SPDR Bloomberg Barclays High Yield Bond ETF](https://www.etf.com/JNK)State Street Global Advisors-3,538.379,059.60-39.06%-701.86[SHV](https://www.etf.com/SHV)[iShares Short Treasury Bond ETF](https://www.etf.com/SHV)Blackrock-3,379.4514,447.21-23.39%-195.56[SPY](https://www.etf.com/SPY)[SPDR S&P 500 ETF Trust](https://www.etf.com/SPY)State Street Global Advisors-2,692.18382,335.06-0.70%-977.15[EFAV](https://www.etf.com/EFAV)[iShares MSCI EAFE Min Vol Factor ETF](https://www.etf.com/EFAV)Blackrock-2,432.448,647.20-28.13%-182.48[IWF](https://www.etf.com/IWF)[iShares Russell 1000 Growth ETF](https://www.etf.com/IWF)Blackrock-2,421.4872,587.88-3.34%729.85[IHI](https://www.etf.com/IHI)[iShares U.S. Medical Devices ETF](https://www.etf.com/IHI)Blackrock-2,216.118,130.01-27.26%44.09Asset Classes (July 2021) Net Flows ($, mm)AUM ($, mm)% of AUM**U.S. Equity**18,972.733,883,960.890.49%**International Equity**12,871.871,273,529.721.01%**U.S. Fixed Income**12,689.171,063,219.681.19%**International Fixed Income**3,467.34146,880.262.36%**Commodities**-875.68140,943.68-0.62%**Currency**30.311,967.991.54%**Leveraged**165.5861,754.480.27%**Inverse**302.5511,538.992.62%**Asset Allocation**815.0917,293.894.71%**Alternatives**-30.406,435.59-0.47%**Total:****48,408.56****6,607,525.17****0.73%**Asset Classes (Year-to-Date) Net Flows ($, mm)AUM ($, mm)% of AUM**U.S. Equity**238,259.663,883,960.896.13%**International Equity**150,983.961,273,529.7211.86%**U.S. Fixed Income**97,439.791,063,219.689.16%**International Fixed Income**24,760.86146,880.2616.86%**Commodities**-1,387.46140,943.68-0.98%**Currency**85.811,967.994.36%**Leveraged**923.7461,754.481.50%**Inverse**4,253.6711,538.9936.86%**Asset Allocation**2,884.2717,293.8916.68%**Alternatives**2,081.356,435.5932.34%**Total:****520,285.65****6,607,525.17****7.87%**July 2021 ETF Issuer League Table IssuerNet Flows ($,M)AUM ($,M)% of AUMYTD 2021 Net Flows($,M)Blackrock6,226.632,311,537.390.27%100,476.86Vanguard32,166.211,892,021.931.70%205,997.90State Street Global Advisors-333.11992,240.64-0.03%39,385.64Invesco-1,388.21364,916.19-0.38%29,995.72Charles Schwab3,459.17249,814.701.38%26,021.18First Trust1,103.02137,020.150.81%15,285.00JPMorgan Chase1,537.9767,074.552.29%18,380.65VanEck173.9262,088.290.28%7,728.31ProShares273.8958,783.840.47%4,695.21ARK-1,742.1845,225.15-3.85%14,675.32WisdomTree456.0745,170.021.01%2,907.06Mirae Asset Global Investments Co., Ltd.1,325.9835,712.313.71%13,295.95Dimensional Holdings359.6730,832.041.17%1,723.98Fidelity380.2130,672.031.24%3,406.61Allianz64.9626,954.470.24%913.02Direxion238.3125,357.680.94%1,714.55Goldman Sachs409.2424,596.111.66%64.33Deutsche Bank-137.9822,172.51-0.62%740.43Northern Trust204.6618,558.311.10%2,645.15CICC1,222.3510,631.2511.50%6,470.69Franklin Templeton-216.649,294.66-2.33%140.36SS&C40.409,181.030.44%283.70Pacer Advisors497.758,086.026.16%1,491.66American Century Investments360.387,494.304.81%3,005.38ETFMG-47.217,363.93-0.64%1,353.78Exchange Traded Concepts381.707,150.025.34%1,616.40Standard Life Aberdeen59.707,022.090.85%763.70Crestview31.616,576.850.48%238.85Innovator249.235,493.564.54%1,152.90Principal55.075,331.521.03%961.07Manulife71.295,024.931.42%-609.90Amplify Investments48.594,593.901.06%1,263.16New York Life33.244,437.590.75%339.57Nuveen Securities207.174,338.834.77%1,314.63Concierge Technologies-307.154,266.81-7.20%-2,416.05The Hartford169.504,238.514.00%314.67Janus Henderson53.574,148.601.29%209.55US Global Investors-91.503,525.43-2.60%407.66Barclays-135.173,002.15-4.50%1,153.53BMO24.162,983.920.81%369.50Toroso Investments116.972,433.234.81%756.53AdvisorShares91.992,166.854.25%1,325.89Prudential98.381,860.725.29%482.23Ameriprise Financial17.421,614.671.08%342.02O’Shares Investments-1.091,586.65-0.07%9.87Defiance ETFs13.481,500.850.90%390.02GraniteShares16.141,499.391.08%156.34Vident-10.901,474.28-0.74%-33.40Aptus Capital Advisors60.991,394.444.37%334.74Virtus Investment Partners54.991,287.784.27%304.14UBS-8.211,252.80-0.66%-57.74Davis Advisers12.681,251.111.01%121.27Cambria-5.661,078.79-0.52%202.22Credit Suisse Group AG54.481,064.475.12%293.68Inspire9.711,011.250.96%178.11Main Management19.95996.502.00%231.34EMPIRICAL FINANCE LLC10.88968.071.12%247.22Rational Capital LLC130.25876.1114.87%634.20The Bank of New York Mellon Corp.29.12875.953.32%311.26Nationwide80.54854.629.42%310.98Aegon-7.47798.53-0.94%-38.59The Motley Fool10.17694.661.46%70.22Horizon Kinetics LLC-2.90623.34-0.47%594.26Simplify Asset Management Inc.49.68578.838.58%423.65Renaissance Capital-62.77576.01-10.90%-153.87Tortoise1.14550.330.21%44.22Roundhill Investments13.05529.512.46%269.03Merk19.41494.113.93%76.68Timothy Plan4.78482.930.99%34.33TrimTabs-1.46437.65-0.33%24.44Redwood Investment Management11.98433.202.77%-24.70Howard Capital Management9.06429.912.11%68.87Liquid Strategies17.54403.104.35%84.05T. Rowe Price Group, Inc.34.62392.348.82%184.46Distillate Capital-0.45383.16-0.12%118.65SRN Advisors-10.57371.85-2.84%60.37Sprott0.00366.050.00%18.15Al Marketing LLC-4.20351.15-1.20%-42.99Regents Park Funds3.67344.921.06%68.03ClearShares LLC3.26340.700.96%89.49Teucrium-50.75304.76-16.65%-81.44ProFund Advisors LLC6.18293.122.11%258.68WBI-3.43291.27-1.18%-3.98Government of Sweden-5.54291.17-1.90%3.39Donald L. Hagan LLC6.67267.222.50%97.39Tuttle Tactical Management, LLC-28.64228.75-12.52%64.80Mcivy Co. LLC-2.20217.41-1.01%114.67Intangible Capital0.00195.290.00%2.46Core Alternative Capital2.96193.031.53%43.56Syntax Advisors0.00190.960.00%48.05Little Harbor Advisors12.45187.526.64%116.54Capital Impact Advisors-0.66178.27-0.37%-5.19TrueMark Investments4.34153.912.82%74.25Arrow Funds0.00134.210.00%3.22ProcureAM-0.88129.74-0.68%77.25Wahed6.67125.525.32%45.83Gadsden0.00117.080.00%16.55AGF0.91109.200.84%-15.01Advisors Asset Management13.28108.6912.21%59.90Kingsview Partners LLC-1.98107.38-1.85%98.59CornerCap Investment Counsel, Inc.1.52105.051.45%30.12Wainwright, Inc.0.00104.740.00%90.25Emles Advisors LLC-12.8094.38-13.56%30.26Humankind USA LLC-1.3085.57-1.52%76.27Swan Global Investments21.9381.9526.76%76.49Exponential ETFs1.2881.601.57%1.20Change Finance3.3679.594.22%36.71iM Square SAS2.1478.042.74%18.36Pettee Investors0.0075.270.00%21.78Impact Shares0.0068.320.01%25.54Groupe BPCE0.3467.900.50%13.01Metaurus Advisors-0.0266.77-0.03%5.91Beyond Investing1.0059.231.69%15.62Pacific Life0.0057.110.00%-0.11Guinness Atkinson Asset Management0.0054.100.00%15.08Neil Azous Revocable Trust1.4853.602.77%31.57Absolute Investment Advisers LLC0.6850.691.34%9.84Esoterica0.0050.220.00%27.83Infusive Asset Management0.0046.020.00%8.53Toews Corp.2.0545.854.47%-3.57Alger Group Holdings LLC3.9242.649.19%34.32Highland Capital Management-1.6041.77-3.83%-11.38Premise Capital-0.8339.85-2.08%-14.10Alexis Investment Partners LLC19.9137.4453.18%19.91Red Gate Advisers LLC0.2135.790.58%5.60Cabot ETF Partners LLC-0.5535.54-1.55%33.41Rayliant Investment Research2.7435.047.83%36.21Inverdale Capital Management LLC3.5734.0210.49%27.94ETF Series Solutions0.0033.160.00%4.582nd Vote Value Investments, Inc2.3832.217.39%24.56AlphaMark Advisors0.0026.030.00%-1.41Formidable Asset Management1.2424.345.11%23.24Truist0.0124.140.03%0.84Whitford Asset Management0.0024.100.00%20.07Uncommon Investment Advisors LLC2.8523.1212.33%22.06MCCM Group LLC-1.4421.40-6.75%33.06Changebridge Capital LLC-0.2217.23-1.27%10.66The Leuthold Group LLC0.0015.200.00%1.43Ridgeline Research LLC0.0013.910.00%9.93GAMCO Investors, Inc.0.0013.890.00%7.27Knights of Columbus13.1813.13100.33%13.18Mairs & Power, Inc.0.2512.981.96%12.78Point Bridge Capital0.0012.590.00%1.00Counterpoint Mutual Funds LLC-0.6111.50-5.29%-1.20EquBot0.0011.410.00%4.82Alternative Access Funds LLC0.0010.030.00%0.00ASYMmetric ETFs6.639.9966.36%9.73New Age Alpha Advisors LLC0.758.408.93%6.24Water Island Capital Partners LP1.287.7916.50%1.29Jacob Asset Management5.475.6596.70%5.47Global Beta Advisors0.005.070.00%-2.99Reflection Asset Management, LLC0.004.190.01%1.29Applied Finance Group0.003.970.00%2.49Democracy Investment Management LLC1.303.2839.57%2.61Wilshire Phoenix Funds LLC0.001.800.00%0.00Eaton Vance Corp.0.000.000.00%0.00Cavalier160.000.000.00%3.19Disclaimer: 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. [ + Follow ](/etf/login) [ETF.com Staff](/contributors/etfcom-staff) etf.com is the single source for ETF intelligence. We provide real-time ETF news and analysis to educate investors and drive financial knowledge in… [View Bio](/contributors/etfcom-staff) Related Topics [Equity](http://www.etf.com/topics/equity) [Fixed Income](http://www.etf.com/topics/fixed-income) [Real Estate](http://www.etf.com/topics/real-estate) [U.S.](http://www.etf.com/topics/us) [Blackrock](http://www.etf.com/topics/blackrock)