2022 on Track to Be Second-Best Year for ETF Inflows

Investors added $39.1 billion to U.S.-listed ETFs during July.

sumit
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Senior ETF Analyst
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Reviewed by: Sumit Roy
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Edited by: Sumit Roy

Stocks and bonds finally caught a break in July. After months of relentless selling, both asset classes caught a bid amid hopes that inflation may be peaking and the Federal Reserve may slow the pace of interest rate hikes in the coming months. 

Those hopes translated into a strong level of inflows for ETFs. On net, $39.1 billion flowed into U.S.-listed ETFs during the month of July, most of which went into U.S. stock and bond ETFs.  

And $10 billion went into U.S. equity ETFs, while $27.9 billion went into U.S. bond ETFs, pushing overall year-to-date inflows for U.S.-listed ETFs to $342.8 billion. Combined with the rise in asset price, AUM climbed to $6.55 trillion. 

Those numbers compare with $520.3 billion and $6.6 trillion, respectively, for the same period in 2021.  

Second-Best Year for Inflows  

This year’s solid ETF inflows in the face of a bear market for both equities and fixed income are remarkable. As FactSet Director of ETF Research Elisabeth Kashner wrote last week, 2022 inflows are on track to exceed all annual inflows records, with the exception of 2021. 

“First half 2022 flows of $332 billion exceed full-year levels for every year from 1993-2016, nearly match full-year 2018 and 2019 flows, and equal 64% of full-year 2020 flows. While global investors offload stocks and bonds, ETF customers have been buyers,” she noted. “ETF inflows have likely come from long-term investors, also known as the buy-and-hold crowd. Tactical investors have shifted their attention to bond ETFs. The fear-of-missing-out (FOMO) buyers made their presence known by crowding into 3x leveraged ETFs—and paid dearly.” 

Inflows for Broad Market Stock ETFs  

July’s ETF inflows reflect Kashner’s observation that the majority of money entering ETFs this year is coming from long-term investors. 

The top asset gatherers during the month included the Vanguard S&P 500 ETF (VOO) and the iShares Core S&P 500 ETF (IVV)

On the fixed income side, the iShares U.S. Treasury Bond ETF (GOVT) and the iShares 20+ Year Treasury Bond ETF (TLT) each pulled in more than $3.7 billion in July. 

At the same time, a pullback in commodity prices led investors to take money out of those funds. The SPDR Gold Trust (GLD) shed $2.5 billion in assets, while the commodity ETF category as a whole had outflows of $6.3 billion during July. 

 

For a full list of the top inflows and outflows for July and 2022 as a whole, see the tables below:  

 

Top Gainers (July 2022)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMYTD 2022 Net Flows($,M)
GOVTiShares U.S. Treasury Bond ETFBlackrock4,797.7123,075.4920.79%8,157.95
TLTiShares 20+ Year Treasury Bond ETFBlackrock3,782.2324,520.9115.42%8,922.48
VOOVanguard S&P 500 ETFVanguard3,772.21267,498.061.41%29,281.98
LQDiShares iBoxx USD Investment Grade Corporate Bond ETFBlackrock3,137.2835,246.438.90%1,527.18
IVViShares Core S&P 500 ETFBlackrock2,251.01301,981.200.75%15,814.63
TLHiShares 10-20 Year Treasury Bond ETFBlackrock2,215.134,675.2847.38%3,471.17
IJRiShares Core S&P Small-Cap ETFBlackrock2,093.8267,548.253.10%1,124.31
HYGiShares iBoxx USD High Yield Corporate Bond ETFBlackrock1,861.4015,040.3912.38%-4,531.40
VTIVanguard Total Stock Market ETFVanguard1,748.40265,643.280.66%14,304.61
JNKSPDR Bloomberg High Yield Bond ETFState Street Global Advisors1,711.848,017.6821.35%-606.61

 

Top Gainers (Year-to-Date)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMJuly 2022 Net Flows($,M)
VOOVanguard S&P 500 ETFVanguard29,281.98267,498.0610.95%3,772.21
IVViShares Core S&P 500 ETFBlackrock15,814.63301,981.205.24%2,251.01
VTIVanguard Total Stock Market ETFVanguard14,304.61265,643.285.38%1,748.40
VTVVanguard Value ETFVanguard13,033.7399,047.0713.16%210.49
TLTiShares 20+ Year Treasury Bond ETFBlackrock8,922.4824,520.9136.39%3,782.23
TQQQProShares UltraPro QQQProShares8,777.6613,483.5865.10%-219.33
SCHDSchwab U.S. Dividend Equity ETFCharles Schwab8,305.5036,463.3922.78%984.86
GOVTiShares U.S. Treasury Bond ETFBlackrock8,157.9523,075.4935.35%4,797.71
BNDVanguard Total Bond Market ETFVanguard6,985.5383,025.388.41%721.54
SHViShares Short Treasury Bond ETFBlackrock6,931.6719,973.5734.70%-1,722.63

 

Biggest Losers (July 2022)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMYTD 2022 Net Flows($,M)
SPYSPDR S&P 500 ETF TrustState Street Global Advisors-4,882.59367,916.68-1.33%-24,570.34
IWMiShares Russell 2000 ETFBlackrock-3,108.8153,208.76-5.84%-5,117.01
GLDSPDR Gold TrustState Street Global Advisors-2,498.2056,690.40-4.41%2,220.01
BILSPDR Bloomberg 1-3 Month T-Bill ETFState Street Global Advisors-2,271.5518,761.90-12.11%5,169.95
SHViShares Short Treasury Bond ETFBlackrock-1,722.6319,973.57-8.62%6,931.67
IJSiShares S&P Small-Cap 600 Value ETFBlackrock-1,687.427,346.68-22.97%-708.55
SLViShares Silver TrustBlackrock-1,062.949,343.92-11.38%-684.93
TIPiShares TIPS Bond ETFBlackrock-1,042.2530,547.87-3.41%-4,922.07
XLFFinancial Select Sector SPDR FundState Street Global Advisors-1,022.6729,779.27-3.43%-8,274.45
XLIIndustrial Select Sector SPDR FundState Street Global Advisors-874.1012,791.28-6.83%-2,694.31

 

Biggest Losers (Year-to-Date)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMJuly 2022 Net Flows($,M)
SPYSPDR S&P 500 ETF TrustState Street Global Advisors-24,570.34367,916.68-6.68%-4,882.59
XLFFinancial Select Sector SPDR FundState Street Global Advisors-8,274.4529,779.27-27.79%-1,022.67
VLUEiShares MSCI USA Value Factor ETFBlackrock-5,243.259,121.23-57.48%-355.87
IWMiShares Russell 2000 ETFBlackrock-5,117.0153,208.76-9.62%-3,108.81
TIPiShares TIPS Bond ETFBlackrock-4,922.0730,547.87-16.11%-1,042.25
HYGiShares iBoxx USD High Yield Corporate Bond ETFBlackrock-4,531.4015,040.39-30.13%1,861.40
SCHPSchwab U.S. TIPS ETFCharles Schwab-3,260.0416,240.97-20.07%-4.38
XLYConsumer Discretionary Select Sector SPDR FundState Street Global Advisors-2,871.2815,149.62-18.95%-739.79
XLIIndustrial Select Sector SPDR FundState Street Global Advisors-2,694.3112,791.28-21.06%-874.10
VGKVanguard FTSE Europe ETFVanguard-2,428.4815,572.69-15.59%-174.72

 

Asset Classes (July 2022)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity10,045.353,898,579.040.26%
International Equity3,637.031,141,688.890.32%
U.S. Fixed Income27,938.691,117,990.062.50%
International Fixed Income296.23140,084.240.21%
Commodities-6,309.62143,277.84-4.40%
Currency447.614,256.9410.51%
Leveraged233.8951,589.730.45%
Inverse2,757.8022,420.8912.30%
Asset Allocation-313.8817,438.50-1.80%
Alternatives385.487,944.934.85%
Total:39,118.596,545,271.060.60%

 

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity139,864.483,898,579.043.59%
International Equity67,758.671,141,688.895.93%
U.S. Fixed Income90,201.181,117,990.068.07%
International Fixed Income4,298.21140,084.243.07%
Commodities8,612.11143,277.846.01%
Currency1,685.684,256.9439.60%
Leveraged18,546.6151,589.7335.95%
Inverse10,022.2822,420.8944.70%
Asset Allocation460.2217,438.502.64%
Alternatives1,327.867,944.9316.71%
Total:342,777.316,545,271.065.24%

 

July 2022 ETF Issuer League Table

IssuerNet Flows ($,M)AUM ($,M)% of AUMYTD 2022 Net Flows($,M)
Blackrock15,012.622,220,856.000.68%86,852.46
Vanguard12,091.531,905,740.080.63%115,606.86
State Street Global Advisors-4,198.50985,118.55-0.43%1,867.52
Invesco3,501.08359,493.680.97%18,273.11
Charles Schwab4,014.42254,042.991.58%19,694.54
First Trust-213.51134,307.86-0.16%5,285.43
JPMorgan Chase2,430.0983,637.822.91%11,324.77
ProShares2,578.0062,363.464.13%20,319.76
VanEck-380.1152,418.40-0.73%2,226.74
WisdomTree1,155.6049,663.252.33%7,484.16
Dimensional Holdings1,369.8048,924.982.80%9,894.45
Mirae Asset Global Investments Co., Ltd.86.7438,818.020.22%3,186.20
Fidelity289.5231,147.350.93%1,656.48
Goldman Sachs223.2225,153.220.89%2,192.72
PIMCO113.8523,733.390.48%-1,703.61
Direxion182.6523,480.900.78%7,957.17
Northern Trust-276.2021,048.95-1.31%2,454.72
DWS4.8019,817.420.02%-1,259.14
ARK416.2716,681.472.50%440.32
Pacer Advisors514.4715,397.583.34%6,762.97
American Century Investments397.8013,228.503.01%4,829.94
CICC-216.5112,069.75-1.79%1,688.16
SS&C81.7311,038.680.74%559.92
Franklin Templeton-373.858,600.20-4.35%-163.52
Innovator383.178,071.394.75%2,614.23
Victory Capital83.357,870.961.06%1,198.96
Nuveen Securities56.467,658.310.74%749.82
Abrdn Plc-271.287,040.21-3.85%786.50
Janus Henderson93.795,420.611.73%1,206.76
Exchange Traded Concepts-89.725,273.93-1.70%-390.32
John Hancock91.705,048.511.82%365.20
ETFMG-47.854,293.89-1.11%-248.47
New York Life-26.803,959.85-0.68%-278.77
The Hartford2.403,800.240.06%86.64
Marygold Cos, Inc.-541.953,754.34-14.44%-1,446.42
Amplify Investments66.263,520.851.88%357.25
Principal-19.543,507.08-0.56%-886.59
BMO81.443,004.902.71%930.64
Toroso Investments-10.342,886.43-0.36%442.02
Barclays Capital Inc.-77.512,806.59-2.76%-847.99
US Global Investors-110.232,587.58-4.26%-67.46
The Capital Group Companies299.882,312.0212.97%2,375.16
Aptus Capital Advisors-11.312,002.25-0.56%281.18
AdvisorShares53.471,595.673.35%122.56
Cambria30.351,552.851.95%544.88
GraniteShares-49.981,463.99-3.41%98.59
Strategy Shares-6.331,457.21-0.43%163.94
Virtus Investment Partners9.791,409.910.69%26.85
Columbia Management Investment Advisers, LLC-15.271,386.65-1.10%-224.71
Simplify Asset Management Inc.-5.701,357.01-0.42%464.98
Vident-14.371,324.59-1.08%32.45
Horizon Kinetics LLC-79.921,323.43-6.04%512.22
BNY Mellon-2.921,312.36-0.22%213.88
UBS0.001,300.790.00%8.49
The Motley Fool-6.031,221.02-0.49%-85.94
Sprott, Inc.14.681,209.181.21%310.80
Defiance ETFs-3.811,183.14-0.32%-186.81
Alpha Architect-14.281,098.78-1.30%181.09
Inspire23.301,070.852.18%113.71
Main Management-7.251,009.74-0.72%11.53
Davis Advisers-1.15903.87-0.13%-143.00
Distillate Capital32.35812.973.98%270.15
Credit Suisse Group AG28.15727.073.87%288.60
Roundhill Investments-9.52682.45-1.40%-82.24
Teucrium-166.30678.56-24.51%480.27
Nationwide-9.68666.67-1.45%-8.99
T. Rowe Price Group, Inc.17.28664.042.60%175.83
Tortoise8.88641.991.38%64.47
Merk-9.73625.50-1.56%65.51
Timothy Plan7.98607.941.31%116.06
Redwood Investment Management-3.28575.13-0.57%-96.88
Regents Park Funds-0.21530.09-0.04%207.18
Day Hagan Asset Management26.71515.995.18%174.02
Howard Capital Management-3.47507.76-0.68%-12.16
ClearShares LLC25.04491.875.09%115.11
Litman Gregory Capital Partners LLC106.24458.0323.20%366.84
Engine No. 1 LLC11.16450.162.48%220.14
Liquid Strategies2.02442.640.46%37.66
Tuttle Tactical Management, LLC-40.48420.23-9.63%138.04
TrimTabs-21.68402.59-5.38%-43.21
Core Alternative Capital102.49402.0325.49%137.70
Cavalier16-10.08379.13-2.66%-0.81
ORIX Corp.8.26347.852.37%141.91
Swedish Export Credit-37.14345.03-10.76%23.63
Advisors Asset Management14.26340.794.18%152.30
Bondbloxx Investment Management LLC153.10289.9852.80%266.46
Retireful LLC15.63280.465.57%292.18
Little Harbor Advisors1.89268.100.70%-38.84
AXS Investments22.71250.339.07%143.84
WBI1.31250.140.52%-15.61
AGF55.15216.2725.50%95.06
Renaissance Capital-1.90210.44-0.90%-41.48
Al Marketing LLC-7.19203.82-3.53%-76.25
Wahed Invest LLC1.79202.950.88%50.90
SRN Advisors-3.86202.88-1.90%-63.78
Truemark Group7.23201.343.59%21.11
Syntax Advisors4.89197.142.48%-2.72
Wainwright, Inc.3.48180.301.93%29.83
Impact Shares0.55170.400.32%6.93
Oneascent Holdings LLC0.00169.960.00%103.30
Stf Management LP-3.07168.71-1.82%173.22
Volatility Shares LLC85.26162.0252.62%194.24
Swan Global Investments-2.58158.35-1.63%17.83
Truist2.09153.911.36%12.70
Rayliant Investment Research-0.17151.81-0.11%108.09
Kingsview Partners LLC4.85151.783.19%42.67
OBP Capital LLC1.55148.291.04%20.08
Intangible Capital-1.80142.52-1.26%-17.06
Gadsden7.90136.485.79%19.20
CornerCap Investment Counsel, Inc.0.97133.950.72%32.24
Cary Street Partners Financial LLC /VA/24.19130.8218.49%134.16
Humankind USA LLC9.01118.867.58%17.57
Arrow Funds0.00114.270.00%-7.76
Doubleline ETF Adviser LP0.00110.050.00%49.44
Neil Azous Revocable Trust7.8699.337.91%27.54
Water Island Capital Partners LP-2.0680.13-2.57%56.65
First Manhattan Co.0.0273.440.02%0.03
Absolute Investment Advisers LLC0.6371.220.89%19.48
Exponential ETFs-0.1470.37-0.19%-1.16
Pacific Life1.8170.042.58%40.88
ProcureAM-1.0469.79-1.49%-11.91
Pettee Investors-2.2567.85-3.32%-16.03
Toews Corp.0.5867.310.86%15.39
Beyond Investing1.7067.132.53%6.79
Inverdale Capital Management LLC3.0864.964.74%26.04
Natixis-0.1464.81-0.21%-1.90
Baird Financial Group8.2464.5112.77%67.94
GeaSphere LLC0.4663.900.71%6.24
Emles Advisors LLC0.2160.180.34%3.58
Cohanzick Management-1.4460.09-2.40%16.98
Power Corporation of Canada-0.6358.00-1.09%20.23
SEI Investments4.2256.607.45%55.68
EntrepreneurShares, LLC-0.6455.60-1.15%-20.64
Federated Hermes, Inc.-5.4854.57-10.04%9.50
Formidable Asset Management0.0050.440.00%9.52
Alexis Investment Partners LLC-6.7046.12-14.54%1.55
Guinness Atkinson Asset Management-1.7343.70-3.95%-1.73
VectorShares LLC0.0043.670.00%27.80
Alger Group Holdings LLC4.5942.2210.87%5.61
Red Gate Advisers LLC1.7640.894.30%6.28
ETF Series Solutions-2.4740.80-6.06%0.72
2nd Vote Value Investments, Inc0.0039.330.00%-1.73
Highland Capital Management1.5035.844.17%-7.93
Premise Capital-0.7334.35-2.13%-1.27
Build Asset Management LLC0.0032.260.00%34.02
Ridgeline Research LLC0.0032.260.00%2.41
ASYMmetric ETFs-0.8132.14-2.53%10.97
Metaurus Advisors0.0230.390.05%5.03
Sheaff Brock Capital Management LLC0.0030.060.00%2.67
Advocate Capital Management LLC-1.4428.95-4.96%10.53
The Leuthold Group LLC0.7026.212.69%10.39
Valkyrie Funds LLC-0.2125.94-0.80%-23.00
GAMCO Investors, Inc.0.1325.230.50%3.82
Cultivar Capital, Inc.0.0024.410.00%15.64
Convergence Investment Partners, LLC-0.0324.38-0.12%-1.19
Faith Investor Services, LLC0.0023.810.00%25.71
Esoterica-1.0422.77-4.56%-8.11
AlphaMark Advisors0.0021.650.00%0.00
First Pacific Advisors LP0.5120.562.50%21.68
Knights of Columbus0.0020.010.00%-0.80
Reflection Asset Management, LLC0.0018.800.02%7.47
Mairs & Power, Inc.0.0018.030.00%1.33
Point Bridge Capital0.0016.230.00%2.93
MCCM Group LLC-4.6114.97-30.81%5.74
Zacks Investment Management0.5614.453.90%3.61
Global Beta Advisors2.5413.4618.88%8.90
Applied Finance Group0.0012.380.00%3.97
Changebridge Capital LLC0.1912.151.59%-2.09
Alphatrai Funds, Inc.4.5711.4339.93%5.36
GCI Investors, Inc.0.0011.400.00%7.40
Future Fund Advisors0.0010.220.00%-2.00
WealthTrust Asset Management LLC0.519.995.13%9.57
Counterpoint Mutual Funds LLC0.009.510.00%0.00
Lifegoal Investments LLC3.028.6435.01%5.41
Alternative Access Funds LLC-2.437.31-33.28%-2.43
Digital Currency Group, Inc.0.006.090.00%12.54
Goose Hollow Capital Management LLC2.875.8249.35%4.69
Nuveen Investments, Inc.0.005.290.00%0.00
Democracy Investment Management LLC0.004.920.02%2.39
Clockwise Capital LLC0.474.7410.00%3.58
Kelly Strategic Management LLC0.634.5313.80%5.08
Rcube SAS0.004.530.00%4.18
Lyrical Partners0.004.520.00%1.31
VegTech LLC0.004.380.00%3.35
V-Square Quantitative Management LLC0.003.500.00%2.47
Spear Advisors LLC0.003.390.00%0.30
Jacob Asset Management0.003.310.00%-0.14
Kingsbarn Capital Management LLC0.002.910.00%1.23
Dynamic Shares LLC0.002.410.00%1.00
Volt Equity LLC0.002.260.00%0.33
Grizzle Investment Management LLC0.001.830.00%1.10
Amberwave Partners Research & Management LLC0.001.640.00%1.28
Big Data Federation, Inc.0.001.540.00%0.62
Matthews International Capital Management0.001.480.00%0.00
Dalton Capital0.001.260.00%0.26
Subversive Capital Advisor LLC0.000.980.00%1.25
Inherent Wealth Fund LLC0.000.920.00%0.77
Tradelegs LLC0.000.510.00%0.50
Wilshire Phoenix Funds LLC0.000.490.00%-1.23
Chadds Ford Investment Management LLC-43.010.42-10,203.68%-33.08
Neuberger Berman0.000.000.00%0.00
Eaton Vance Corp.0.000.000.00%0.00
Cabot ETF Partners LLC0.000.000.00%-0.29
Prudential0.000.000.00%916.62

 

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.

Sumit Roy is the senior ETF analyst for etf.com, where he has worked for 13 years. He creates a variety of content for the platform, including news articles, analysis pieces, videos and podcasts.

Before joining etf.com, Sumit was the managing editor and commodities analyst for Hard Assets Investor. In those roles, he was responsible for most of the operations of HAI, a website dedicated to education about commodities investing.

Though he still closely follows the commodities beat, Sumit covers a much broader assortment of topics for etf.com, with a particular focus on stock and bond exchange-traded funds.

He is the host of etf.com’s Talk ETFs, a popular video series that features weekly interviews with thought leaders in the ETF industry. Sumit is also co-host of Exchange Traded Fridays, etf.com’s weekly podcast series.

He lives in the San Francisco Bay Area, where he enjoys climbing the city’s steep hills, playing chess and snowboarding in Lake Tahoe.