2023 ETF Inflows Top $200B at End of June

The first half of the year closed out on a strong note.

sumit
|
Senior ETF Analyst
|
Reviewed by: Lisa Barr
,
Edited by: Lisa Barr

Exchange-traded fund investors are finally embracing stocks. After a middling start to the year, flows into U.S. equity ETFs picked up steam in the second quarter. 

By the end of June, the year-to-date haul for U.S. stock ETFs reached $52.9 billion, a significant improvement compared to the $2.9 billion of outflows we saw at the end of the first quarter. 

For context, there was $128.8 billion of inflows for U.S. equity ETFs at the end of the first half of 2022.  

Over the past several weeks, investors have plowed money into U.S. stock ETFs as the market has taken off. From a 7.5% gain at the end of March, the S&P 500’s year-to-date return more than doubled to 16.8% at the end of June. 

Those types of gains are hard to ignore, and the narrative that stocks aren’t that compelling with risk-free Treasuries yielding close to 5% has come under strain.  

Inflows for U.S. equity ETFs are still lagging those of U.S. fixed income ETFs—$52.9 billion versus $86.7 billion—but they’re quickly catching up.  

Overall inflows for U.S.-listed ETFs—which includes funds tied to stocks, bonds, commodities and more—were $200.6 billion at the end of June. That compares to $298.7 billion at the same time a year ago.  

In terms of individual ETFs, the Vanguard 500 Index Fund (VOO) topped the 2023 inflows list at the end of the second quarter, with year-to-date inflows of $15.2 billion. 

Taking the second and third positions on the list were the iShares 20+ Year Treasury Bond ETF (TLT) and the JPMorgan Equity Premium Income ETF (JEPI), with inflows of $11.4 billion and $9.8 billion, respectively.  

Meanwhile, on the outflows side, the iShares ESG Aware MSCI USA ETF (ESGU) was the fund with the largest year-to-date outflows: $7.2 billion. 

Following suit were the Vanguard Short-Term Corporate Bond ETF (VCSH), the iShares Russell 1000 Value ETF (IWD) and the Energy Select Sector SPDR Fund (XLE)

 

For a full list of this year’s top inflows and outflows, see the tables below: 

 

Top Gainers (June 2023)

 

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMYTD 2023 Net Flows($,M)
VOOVanguard 500 Index FundVanguard5,672.23316,281.031.79%15,166.27
IVViShares Core S&P 500 ETFBlackrock5,115.31329,566.981.55%-339.63
RSPInvesco S&P 500 Equal Weight ETFInvesco4,347.7138,304.7111.35%4,283.40
XLFFinancial Select Sector SPDR FundState Street Global Advisors2,530.3932,129.287.88%2,175.18
BNDVanguard Total Bond Market ETFVanguard2,164.7194,281.572.30%8,372.72
USCLiShares Climate Conscious & Transition MSCI USA ETFBlackrock2,163.882,207.2498.04%2,163.88
VTIVanguard Total Stock Market ETFVanguard2,149.08304,362.880.71%7,955.67
QQQMInvesco NASDAQ 100 ETFInvesco2,040.2413,436.0915.18%5,173.90
SPSMSPDR Portfolio S&P 600 Small Cap ETFState Street Global Advisors1,998.787,484.6426.71%2,842.99
IWMiShares Russell 2000 ETFBlackrock1,837.5753,447.393.44%-1,511.27

 

Top Gainers (Year-to-Date)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMJune 2023 Net Flows($,M)
VOOVanguard 500 Index FundVanguard15,166.27316,281.034.80%5,672.23
TLTiShares 20+ Year Treasury Bond ETFBlackrock11,447.2339,173.4529.22%664.23
JEPIJPMorgan Equity Premium Income ETFJPMorgan Chase9,825.5827,460.3835.78%994.11
QUALiShares MSCI USA Quality Factor ETFBlackrock9,796.5931,332.6131.27%271.96
AGGiShares Core U.S. Aggregate Bond ETFBlackrock8,431.8291,901.249.17%1,048.52
BNDVanguard Total Bond Market ETFVanguard8,372.7294,281.578.88%2,164.71
VTIVanguard Total Stock Market ETFVanguard7,955.67304,362.882.61%2,149.08
IEFiShares 7-10 Year Treasury Bond ETFBlackrock6,001.0229,029.2620.67%1,078.63
SPYSPDR S&P 500 ETF TrustState Street Global Advisors5,573.58412,682.451.35%1,455.03
QQQMInvesco NASDAQ 100 ETFInvesco5,173.9013,436.0938.51%2,040.24

 

Biggest Losers (June 2023)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMYTD 2023 Net Flows($,M)
VGTVanguard Information Technology ETFVanguard-7,378.4451,866.72-14.23%-1,454.58
SUSLiShares ESG MSCI USA Leaders ETFBlackrock-2,288.791,082.12-211.51%-2,191.05
BBEUJPMorgan BetaBuilders Europe ETFJPMorgan Chase-1,818.587,413.39-24.53%3,889.06
XLEEnergy Select Sector SPDR FundState Street Global Advisors-1,694.0932,556.33-5.20%-4,343.53
SHYiShares 1-3 Year Treasury Bond ETFBlackrock-1,478.0726,686.62-5.54%-807.14
FXZFirst Trust Materials AlphaDEX FundFirst Trust-914.10586.75-155.79%-834.29
BILSPDR Bloomberg 1-3 Month T-Bill ETFState Street Global Advisors-912.2128,470.49-3.20%1,904.38
EEMiShares MSCI Emerging Markets ETFBlackrock-870.5423,578.24-3.69%-295.10
IGSBiShares 1-5 Year Investment Grade Corporate Bond ETFBlackrock-807.8323,043.12-3.51%-213.37
GLDSPDR Gold TrustState Street Global Advisors-776.1357,162.07-1.36%733.65

 

Biggest Losers (Year-to-Date)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMJune 2023 Net Flows($,M)
ESGUiShares ESG Aware MSCI USA ETFBlackrock-7,195.6314,262.85-50.45%227.26
VCSHVanguard Short-Term Corporate Bond ETFVanguard-6,043.6234,837.48-17.35%-526.79
IWDiShares Russell 1000 Value ETFBlackrock-5,252.1250,316.41-10.44%-75.62
XLEEnergy Select Sector SPDR FundState Street Global Advisors-4,343.5332,556.33-13.34%-1,694.09
EEMViShares MSCI Emerging Markets Min Vol Factor ETFBlackrock-3,871.194,570.47-84.70%-27.63
IWFiShares Russell 1000 Growth ETFBlackrock-3,740.1270,310.11-5.32%831.91
TQQQProShares UltraPro QQQProShares-3,404.6518,012.38-18.90%542.25
XLKTechnology Select Sector SPDR FundState Street Global Advisors-2,701.8448,902.64-5.52%-189.46
ACWIiShares MSCI ACWI ETFBlackrock-2,569.3517,569.17-14.62%167.04
MTUMiShares MSCI USA Momentum Factor ETFBlackrock-2,545.009,072.72-28.05%-236.60

 

Asset Classes (June 2023)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity30,496.564,308,291.510.71%
International Equity10,703.061,276,725.100.84%
U.S. Fixed Income11,784.831,253,104.470.94%
International Fixed Income2,584.12151,110.261.71%
Commodities-2,303.78131,122.42-1.76%
Currency-232.972,993.97-7.78%
Leveraged378.9067,019.620.57%
Inverse-47.9920,140.58-0.24%
Asset Allocation1.6415,794.420.01%
Alternatives92.917,099.121.31%
Total:53,457.277,233,401.480.74%

 

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity52,866.504,308,291.511.23%
International Equity48,533.931,276,725.103.80%
U.S. Fixed Income86,690.951,253,104.476.92%
International Fixed Income10,622.30151,110.267.03%
Commodities-1,305.53131,122.42-1.00%
Currency-1,115.662,993.97-37.26%
Leveraged948.9567,019.621.42%
Inverse5,593.8020,140.5827.77%
Asset Allocation-2,353.2515,794.42-14.90%
Alternatives103.507,099.121.46%
Total:200,585.487,233,401.482.77%

 

June 2023 ETF Issuer League Table

IssuerNet Flows ($,M)AUM ($,M)% of AUMYTD 2023 Net Flows($,M)
Blackrock20,155.952,378,002.280.85%23,514.72
Vanguard8,878.562,107,285.930.42%56,585.35
State Street Global Advisors6,181.511,070,169.140.58%12,936.36
Invesco6,425.21393,792.131.63%7,848.77
Charles Schwab1,640.34289,588.710.57%14,334.64
First Trust453.40140,206.440.32%2,061.13
JPMorgan Chase1,420.60115,335.671.23%22,170.28
Dimensional3,056.5291,948.523.32%14,575.11
ProShares371.3067,115.250.55%2,894.56
VanEck117.1958,252.460.20%790.79
WisdomTree1,825.9957,433.753.18%5,571.38
Mirae Asset Global Investments Co., Ltd.690.7241,115.061.68%2,012.83
Fidelity-363.8835,876.09-1.01%1,739.65
Goldman Sachs-71.3929,579.41-0.24%994.85
Direxion-209.6728,760.03-0.73%2,003.34
American Century Investments800.1925,712.183.11%5,682.81
Pacer Advisors64.7024,342.800.27%4,143.26
PIMCO569.4921,964.882.59%172.68
Northern Trust-157.8920,544.52-0.77%-2.51
DWS-296.6519,510.51-1.52%377.54
Innovator-93.1613,887.94-0.67%1,723.45
ARK-505.8113,752.95-3.68%-798.82
Franklin Templeton545.7912,399.654.40%1,881.18
Capital Group700.6910,357.346.77%3,490.61
SS&C-9.4110,338.27-0.09%-206.15
Nuveen Securities-531.488,104.36-6.56%158.14
CICC-145.787,797.12-1.87%-1,262.34
WisdomTree Investments, Inc.78.597,770.711.01%507.93
Victory Capital-119.887,597.83-1.58%-319.35
Janus Henderson336.037,394.874.54%1,764.75
Abrdn Plc10.666,207.230.17%296.31
John Hancock38.885,487.800.71%211.15
BMO155.145,206.712.98%606.40
Prudential-36.405,071.36-0.72%862.87
Exchange Traded Concepts-114.884,537.54-2.53%-353.62
Amplify Investments-53.454,394.85-1.22%333.83
New York Life121.734,193.682.90%65.16
The Hartford110.484,138.462.67%226.38
Alpha Architect223.054,120.745.41%896.96
BNY Mellon372.803,691.0110.10%2,114.24
Tidal184.253,624.595.08%643.77
ETFMG-98.093,555.19-2.76%-168.96
Marygold-289.793,427.93-8.45%519.65
Principal31.972,570.321.24%162.95
US Global Investors-40.862,001.83-2.04%-470.87
Cambria-3.001,843.25-0.16%84.53
Simplify420.191,840.1222.84%406.96
Renaissance Health Service Corp.195.611,762.9611.10%1,357.35
Aptus Capital Advisors-19.681,720.30-1.14%-158.68
Main Management62.061,632.593.80%241.89
Power Corporation of Canada-2.461,574.19-0.16%1,353.91
Bondbloxx Investment Management LLC56.111,567.033.58%1,021.57
UBS-52.891,536.31-3.44%-248.61
Columbia Management Investment Advisers, LLC7.881,501.800.52%139.85
Vident0.001,384.930.00%-43.17
Virtus Investment Partners5.401,351.040.40%70.33
GraniteShares-1.891,345.99-0.14%22.68
Barclays Capital Inc.132.901,339.829.92%244.76
Sprott, Inc.8.791,307.390.67%94.50
Inspire Investing LLC29.691,254.952.37%123.24
The Motley Fool10.881,222.700.89%-24.08
Distillate Capital22.361,122.931.99%116.10
T. Rowe Price Group, Inc.-1.071,119.91-0.10%94.14
Strategy Shares-15.631,100.13-1.42%-119.84
Horizon Kinetics-66.931,063.88-6.29%-162.23
AdvisorShares-18.641,037.16-1.80%-17.71
ORIX36.971,030.183.59%327.64
Davis Advisers-1.84943.96-0.19%6.05
Defiance ETFs0.06889.480.01%-92.14
Focus Financial Partners-0.91853.14-0.11%165.43
AXS Investments9.29842.711.10%343.11
Litman Gregory Capital Partners LLC-17.41744.47-2.34%-156.39
Timothy Plan3.65739.580.49%83.81
Equitable5.53724.000.76%414.06
Redwood0.95695.510.14%-38.05
Doubleline ETF Adviser LP53.80649.568.28%200.06
Roundhill Investments-22.54648.10-3.48%-51.95
Engine No. 111.09608.641.82%83.98
Howard Capital Management20.29600.343.38%15.21
Day Hagan Asset Management49.30569.378.66%37.20
Advisors Asset Management15.52552.292.81%116.34
Tortoise-8.61525.32-1.64%-102.79
Nationwide-6.46508.89-1.27%-83.33
Anfield Group-5.40464.32-1.16%-16.44
ClearShares LLC-42.13461.01-9.14%-34.75
Aptus Holdings LLC34.60446.897.74%214.51
Core Alternative Capital-21.24411.65-5.16%-114.58
Liquid Strategies2.11397.340.53%-34.85
Teucrium-52.17389.17-13.40%-180.11
Envestnet1.91356.020.54%346.82
FCF Advisors-29.76355.47-8.37%15.45
Morgan Stanley31.46340.939.23%95.97
Wahed Invest LLC20.06318.386.30%53.87
Neuberger Berman-4.13304.30-1.36%77.63
Adaptive Investments4.77298.221.60%21.64
AGF-76.87295.26-26.03%-57.38
Retireful LLC-2.56278.39-0.92%-39.61
Oneascent Holdings LLC2.84276.151.03%21.38
Cary Street Partners Financial LLC /VA/4.02240.621.67%48.78
Neos Investments LLC105.30230.6745.65%222.41
Matthews International Capital Management11.05229.054.83%117.86
Western & Southern Mutual Holding Co.0.58221.080.26%1.82
Little Harbor Advisors26.58211.9412.54%-23.47
Truemark Group2.55207.971.22%1.67
WBI-4.75206.20-2.30%-14.58
Impact Shares3.21196.011.64%15.70
AmeriLife-7.18193.57-3.71%-30.54
Syntax-5.48184.40-2.97%-9.77
Stf Management LP13.68182.857.48%0.64
Renaissance Capital9.29173.895.34%3.05
CI Financial-0.99167.99-0.59%-3.79
Volatility Shares LLC9.04161.865.58%135.60
Summit Global Investments, LLC13.66161.228.47%156.65
Truist0.00160.310.00%-0.48
CornerCap Investment Counsel, Inc.-5.24158.23-3.31%11.09
Kingsview Partners LLC-2.97150.03-1.98%-31.66
Thrivent Financial for Lutherans0.84135.890.62%55.76
Rayliant0.68131.620.51%8.31
Humankind USA LLC0.00129.180.00%-1.41
Intangible Capital-0.01128.38-0.01%-7.88
SRN Advisors-3.09128.07-2.41%-20.90
Swan Global Investments-1.28126.76-1.01%-9.75
Angel Oak Capital Advisors, LLC34.24123.9627.62%48.36
Paralel Technologies LLC1.41114.361.24%6.95
Federated Hermes, Inc.1.82111.081.64%39.28
Neil Azous Revocable Trust-6.65110.19-6.03%-4.81
Soundwatch Capital LLC0.00107.810.00%-1.18
Baird Financial Group0.52105.310.50%7.22
IronHorse Holdings-2.02104.65-1.93%2.56
Thor Trading Advisors LLC-1.00103.48-0.97%13.11
Arrow Funds0.0098.950.00%-17.08
Absolute Investment Advisers LLC1.4295.141.49%7.09
OBP Capital LLC-2.8893.72-3.07%0.90
Toews Corp.0.5188.590.57%1.54
First Manhattan Co.0.0078.460.00%-0.29
Inverdale Capital Management LLC0.8677.421.11%5.83
SEI Investments1.2875.871.69%7.58
Natixis-10.3274.90-13.77%6.57
Pettee Investors1.2174.201.63%10.51
Exponential ETFs0.0071.810.00%-0.06
Beyond Investing0.0071.410.00%-1.72
Panagram Structured Asset Management, LLC0.0070.810.00%70.62
AB Holding0.0067.100.00%0.00
Water Island Capital3.7566.955.60%-19.97
The Leuthold Group LLC0.7666.901.13%3.00
Alexis Investment Partners LLC0.4866.560.73%9.64
EntrepreneurShares, LLC0.0065.710.00%6.05
Clockwise Capital LLC0.5664.570.87%13.58
Cohanzick Management0.0064.510.00%0.56
Q3 Asset Management Corp.-0.8158.77-1.38%4.29
Formidable Asset Management-0.0157.16-0.01%3.53
Logan Capital Management Inc.0.0052.410.00%0.82
ProcureAM2.7152.295.19%-2.61
GeaSphere LLC-0.5151.77-0.98%-7.25
Ridgeline Research LLC6.5851.6212.74%12.83
Guinness Atkinson Asset Management0.0050.110.00%3.99
Client First Investment Management LLC0.0049.810.00%32.35
2nd Vote Value Investments, Inc0.0048.250.00%1.65
Zacks8.5947.5918.06%27.53
Cambiar Holdings0.0147.130.02%-0.69
Hennessy Advisors-0.2544.77-0.55%0.69
Goose Hollow Capital Management LLC-5.7543.64-13.18%18.09
Valkyrie Funds LLC-1.2441.89-2.97%2.75
Alger1.0241.572.44%-0.81
ETF Series Solutions0.0338.410.09%-6.88
First Pacific Advisors LP0.6037.401.60%4.55
Applied Finance Group1.9833.755.87%15.26
Hull Investments LLC4.8232.7014.74%6.28
Sammons Enterprises, Inc.18.1831.9556.91%31.18
GAMCO Investors, Inc.0.2830.410.91%1.48
Sheaff Brock Capital Management LLC0.0030.100.00%0.84
DoubleLine Capital LP1.0127.183.70%27.05
Convergence Investment Partners, LLC0.6627.112.45%2.05
Faith Investor Services, LLC2.3626.328.97%3.71
Highland Capital Management1.4626.275.56%0.02
ASYMmetric ETFs-1.8224.56-7.39%-1.04
Cultivar Capital, Inc.0.0024.200.00%0.03
Reflection Asset Management, LLC0.0024.040.00%1.23
PMV Capital Advisers LLC-1.2623.99-5.23%-4.33
AlphaMark Advisors0.0023.980.00%-0.06
Alphatrai Funds, Inc.0.0020.460.00%6.59
Knights of Columbus0.0019.670.00%0.00
Point Bridge Capital-0.9618.31-5.24%-0.07
Mairs & Power, Inc.0.0018.020.00%0.44
Build Asset Management LLC0.0017.730.00%-13.79
Running Oak Capital LLC15.5715.7598.82%15.57
Subversive Capital Advisor LLC2.0415.7213.01%13.22
Dawn Global Topco Ltd.3.2913.8023.87%10.41
WealthTrust Asset Management LLC0.5313.323.95%1.55
Democracy Investment Management LLC0.0011.84-0.01%6.39
Changebridge Capital LLC0.0011.100.00%0.43
Tuttle Tactical Management, LLC-1.0910.89-9.98%3.87
Future Fund Advisors1.1710.8810.72%0.48
Advocate Capital Management LLC-8.8210.76-81.92%-17.90
The BAD Investment Company1.2610.3712.19%1.53
Spear Advisors LLC3.628.6541.78%5.09
Rcube SAS0.678.457.87%2.94
Counterpoint Mutual Funds LLC0.007.830.00%0.52
Tema Global Ltd.1.977.4026.67%6.08
Power Financial Corp.0.006.360.00%6.00
Lyrical Partners0.005.930.00%-13.57
Digital Currency Group, Inc.0.005.560.00%-0.24
VegTech LLC0.005.180.00%0.00
V-Square Quantitative Management LLC0.003.880.00%0.00
Dynamic Shares LLC0.003.670.00%0.00
Kelly Intelligence LLC0.003.640.00%0.51
Cboe Vest Financial LLC-1.383.50-39.33%2.56
Jacob Asset Management0.002.950.00%-0.15
Element ETFs LLC0.002.630.00%-1.89
Emerge Capital Management, Inc.-0.492.60-18.75%-0.47
Hypatia Capital Advisors LLC0.262.5410.10%2.36
Distribution Cognizant LLC0.002.280.00%0.00
Bitwise Asset Management, Inc.0.001.49-0.13%-1.12
Grizzle Investment Management LLC0.001.230.00%0.00
Convexityshares, LLC0.311.1826.45%0.68
Kingsbarn Capital Management LLC0.001.140.00%0.01
Merk0.001.110.00%-0.45
Inherent Wealth Fund LLC0.000.920.00%-0.51
Parabla, LLC0.100.7513.49%0.49
Tradelegs LLC0.000.550.00%0.00
Calamos Family Partners0.000.000.00%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.

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.