U.S.-listed ETFs saw inflows of $34.7 billion during the month of April, more than twice the amount of inflows during the same month in 2016. With a total of $2.8 trillion in assets under management (AUM) invested in all U.S.-listed ETFs, the industry is edging closer and closer to the $3 trillion mark.
All of the asset classes saw net inflows for the month, but international fixed income saw the largest percentage increase, pulling in some $2.1 billion for an increase in its AUM of 4.46%.
The iShares Core S&P 500 ETF (IVV) led the pack in terms of inflows, pulling in $6.3 billion in assets. Meanwhile, the SPDR S&P 500 ETF (SPY) lost almost as much, topping the outflows with a $6.1 billion loss that amounted to 2.5% of its AUM. The third ETF in the S&P 500 complex, the Vanguard S&P 500 ETF (VOO), claimed the No. 4 spot for inflows, with a gain of $1.5 billion, following the iShares Russell 2000 ETF (IWM), which pulled in $1.7 billion.
U.S. equity ETFs as a whole gained $9.8 billion during the month, putting it behind international equity, which pulled in $12.4 billion in April. Fully half of the top 10 ETFs for inflows covered international equities, with the iShares Core MSCI EAFE ETF (IEFA) gaining $2.1 billion and landing in the No. 2 spot, a stunning 9.77% of the fund’s AUM.
Interestingly, the iShares 20+ Year Treasury Bond ETF (TLT) pulled in just $953.1 million, landing it in the No. 7 spot, but its inflows represented nearly 17% of its AUM. It was the only bond ETF in the top 10.
The SPDR Gold Trust (GLD) claimed the No. 10 spot, with inflows of $871.1 million.
US Equities Take A Powder
Most of the top 10 ETFs for outflows fall into the U.S. equity category, except for the two globally focused gold miners ETFs. The VanEck Vectors Gold Miners (GDX) and VanEck Vectors Junior Gold Miners (GDXJ) claimed the Nos. 2 and 4 spots, losing $1.1 billion and $540.2 million during the month, respectively. Also, the WisdomTree Japan Hedged Equity Fund (DXJ) lost $306.8 million in April. The seven other ETFs claiming the top spots for outflows were all U.S. equity funds.
The Financial Select Sector SPDR ETF (XLF) was in the third outflows spot for the month, with a loss of $592.8, while another sector fund, the iShares Nasdaq Biotechnology ETF (IBB), was ninth, with outflows of $305 million.
Further, two midcap funds were in the top 10 list for outflows, with a loss of $444.9 million for the No. 5 fund, the SPDR S&P Midcap 400 ETF (MDY), and $294 million for the No. 10 fund, the iShares S&P MidCap 400 Value ETF (IJJ).
Even more notable, despite the fact that IWM was No. 2 for inflows, the iShares Core S&P SmallCap ETF (IJR) was No. 6 for outflows, with a loss of $380 million.
Contact Heather Bell at [email protected].
Top Gainers (April 2017)
|Ticker||Name||Issuer||Net Flows ($,mm)||AUM ($M)||% of AUM||YTD 2017 Net Flows($,M)|
|IVV||iShares Core S&P 500 ETF||BlackRock||6,303.01||109,412.39||6.11%||12,453.61|
|IEFA||iShares Core MSCI EAFE ETF||BlackRock||2,130.21||23,924.45||9.77%||6,162.46|
|IWM||iShares Russell 2000 ETF||BlackRock||1,690.83||41,049.02||4.30%||1,088.26|
|VOO||Vanguard S&P 500 Index Fund||Vanguard||1,482.17||66,060.35||2.30%||5,534.26|
|VEA||Vanguard FTSE Developed Markets ETF||Vanguard||1,374.09||50,304.56||2.81%||5,675.21|
|IEMG||iShares Core MSCI Emerging Markets ETF||BlackRock||1,214.93||28,561.33||4.44%||7,840.71|
|TLT||iShares 20+ Year Treasury Bond ETF||BlackRock||953.13||6,675.40||16.66%||1,281.41|
|VWO||Vanguard FTSE Emerging Markets ETF||Vanguard||952.49||52,645.11||1.84%||3,228.72|
|EZU||iShares MSCI Eurozone ETF||BlackRock||919.33||10,360.55||9.74%||2,071.49|
|GLD||SPDR Gold Trust||State Street Global Advisors||871.08||34,636.45||2.58%||1,328.66|
Top Gainers (Year-to-Date)
|Ticker||Name||Issuer||Net Flows ($,mm)||AUM ($M)||% of AUM||April 2017 Net Flows($,M)|
|IVV||iShares Core S&P 500 ETF||BlackRock||12,453.61||109,412.39||12.84%||6,303.01|
|IEMG||iShares Core MSCI Emerging Markets ETF||BlackRock||7,840.71||28,561.33||37.84%||1,214.93|
|IEFA||iShares Core MSCI EAFE ETF||BlackRock||6,162.46||23,924.45||34.69%||2,130.21|
|VEA||Vanguard FTSE Developed Markets ETF||Vanguard||5,675.21||50,304.56||12.72%||1,374.09|
|VOO||Vanguard S&P 500 Index Fund||Vanguard||5,534.26||66,060.35||9.14%||1,482.17|
|LQD||iShares iBoxx $ Investment Grade Corporate Bond ETF||BlackRock||3,902.88||31,377.56||14.21%||534.21|
|EFA||iShares MSCI EAFE ETF||BlackRock||3,626.68||69,479.07||5.51%||371.03|
|IJH||iShares Core S&P Mid-Cap ETF||BlackRock||3,437.14||40,112.81||9.37%||419.61|
|VTI||Vanguard Total Stock Market Index Fund||Vanguard||3,235.66||77,661.50||4.35%||408.17|
|VWO||Vanguard FTSE Emerging Markets ETF||Vanguard||3,228.72||52,645.11||6.53%||952.49|