Aug. Sees Healthy $25B In ETF Inflows

September 04, 2018

August was a solid month for U.S.-listed ETFs, which attracted a net of $25 billion in fresh net assets. The pace brought year-to-date ETF net creations to $173.7 billion for a total market size that now sits at $3.718 trillion.

The bulk of the new money landed in U.S. equity funds as the U.S. market raced higher, with strategies such as the iShares Core S&P 500 ETF (IVV), the Invesco QQQ Trust (QQQ) and the Vanguard S&P 500 ETF (VOO) leading the asset gains race.

Demand for U.S. equity trumped demand for international equity handily.

Emerging Market ETF Battle Rages On

Still, there were some standout ETFs in the international space. For example, the iShares Core MSCI Emerging Markets ETF (IEMG) was the fourth-most-popular ETF last month, with net creations of $1.5 billion.

For all the concerns investors may have about emerging markets and what some say is a brewing crisis in the region, IEMG has now attracted more than $10.6 billion in net inflows this year. IEMG’s counterpart at iShares, however, hasn’t done all that well.

The veteran iShares MSCI Emerging Markets ETF (EEM) has now lost $5.12 billion year-to-date, even though in August it saw modest net creations. Once the behemoth in the emerging market space, EEM, launch in 2003, today has only $31 billion in total assets. IEMG, which launched in 2012, is the bigger of the two funds now, with $49 billion. It could be that investors continue to show preference for IEMG’s lower price tag of 0.14% versus EEM’s 0.69%.

JP Morgan Inflows

A pair of J.P. Morgan ETFs were again found on the list of top creations, as the firm is said to be aggressively moving client money out of third-party ETFs and into its proprietary strategies.

The JPMorgan BetaBuilders Canada ETF (BBCA) captured $1.4 billion in net inflows last month, and is now a $1.5 billion ETF even though it has yet to hit the one-month-old mark. The JPMorgan BetaBuilders Europe ETF (BBEU) took in a net of $925 million last month. Launched in June, BBEU has now $1.35 billion in assets.

Gold Loses Ground

On the flip side, one of the biggest net asset losers last month was the SPDR Gold Trust (GLD), which bled $1.7 billion, bringing total net redemptions year-to-date to $3.14 billion. Investors have shunned the precious metal ETF as U.S. stock prices and interest rates rise, offering little reason for the safe-haven plays.

You can reach Cinthia Murphy at [email protected]

 

Top Gainers (August 2018)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM YTD 2018 Net Flows($,M)
IVV iShares Core S&P 500 ETF BlackRock 6,777.38 164,409.87 4.30% 10,137.99
QQQ Invesco QQQ Trust Invesco 3,901.74 73,846.15 5.58% 4,433.96
VOO Vanguard S&P 500 ETF Vanguard 1,932.47 99,840.30 1.97% 8,362.37
IEMG iShares Core MSCI Emerging Markets ETF BlackRock 1,532.59 49,153.27 3.22% 10,686.64
BBCA JPMorgan BetaBuilders Canada ETF JPMorgan 1,471.60 1,498.89 5,390.87% 1,471.60
XLY Consumer Discretionary Select Sector SPDR Fund State Street Global Advisors 1,365.78 16,043.70 9.30% 874.83
HYG iShares iBoxx USD High Yield Corporate Bond ETF BlackRock 1,364.02 17,155.19 8.64% -378.02
BBEU JPMorgan BetaBuilders Europe ETF JPMorgan 925.31 1,353.01 216.35% 1,315.10
VTV Vanguard Value ETF Vanguard 845.13 43,795.72 1.97% 5,438.99
IJH iShares Core S&P Mid-Cap ETF BlackRock 723.27 50,491.47 1.45% 2,887.59

 

Top Gainers (Year-to-Date)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM August 2018 Net Flows($,M)
IEFA iShares Core MSCI EAFE ETF BlackRock 18,710.63 58,759.47 46.72% 639.66
IEMG iShares Core MSCI Emerging Markets ETF BlackRock 10,686.64 49,153.27 27.78% 1,532.59
IVV iShares Core S&P 500 ETF BlackRock 10,137.99 164,409.87 6.57% 6,777.38
VOO Vanguard S&P 500 ETF Vanguard 8,362.37 99,840.30 9.14% 1,932.47
SHV iShares Short Treasury Bond ETF BlackRock 7,234.65 15,251.34 90.24% 132.32
VTV Vanguard Value ETF Vanguard 5,438.99 43,795.72 14.18% 845.13
IJR iShares Core S&P Small Cap ETF BlackRock 4,972.24 47,736.72 11.63% 644.90
VTI Vanguard Total Stock Market ETF Vanguard 4,824.58 105,664.94 4.78% 425.84
VEA Vanguard FTSE Developed Markets ETF Vanguard 4,671.14 70,688.93 7.08% 0.35
AGG iShares Core U.S. Aggregate Bond ETF BlackRock 4,656.31 56,262.39 9.02% 158.29

 

Biggest Losers (August 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 -5,357.65 274,889.47 -1.91% -23,329.79
GLD SPDR Gold Trust State Street Global Advisors -1,730.43 29,059.35 -5.62% -3,147.91
SDY SPDR S&P Dividend ETF State Street Global Advisors -1,170.82 16,217.33 -6.73% -748.13
XLE Energy Select Sector SPDR Fund State Street Global Advisors -792.80 17,962.65 -4.23% -770.41
EWZ iShares MSCI Brazil ETF BlackRock -752.28 5,400.63 -12.23% -464.37
DIA SPDR Dow Jones Industrial Average ETF Trust State Street Global Advisors -735.07 21,732.39 -3.27% -1,546.78
EZU iShares MSCI Eurozone ETF BlackRock -671.97 9,674.11 -6.49% -5,174.66
XLK Technology Select Sector SPDR Fund State Street Global Advisors -654.86 23,456.43 -2.72% 603.31
DXJ WisdomTree Japan Hedged Equity Fund WisdomTree -614.56 5,325.42 -10.35% -3,624.82
VT Vanguard Total World Stock ETF Vanguard -553.05 12,091.19 -4.37% 1,206.14

 

Biggest Losers (Year-to-Date)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM August 2018 Net Flows($,M)
SPY SPDR S&P 500 ETF Trust State Street Global Advisors -23,329.79 274,889.47 -7.82% -5,357.65
EFA iShares MSCI EAFE ETF BlackRock -10,585.92 71,744.44 -12.86% -288.89
EZU iShares MSCI Eurozone ETF BlackRock -5,174.66 9,674.11 -34.85% -671.97
EEM iShares MSCI Emerging Markets ETF BlackRock -5,123.08 31,203.55 -14.10% 358.92
IWD iShares Russell 1000 Value ETF BlackRock -3,985.79 38,174.19 -9.45% 10.99
DXJ WisdomTree Japan Hedged Equity Fund WisdomTree -3,624.82 5,325.42 -40.50% -614.56
LQD iShares iBoxx USD Investment Grade Corporate Bond ETF BlackRock -3,353.19 34,009.26 -8.97% -321.49
GLD SPDR Gold Trust State Street Global Advisors -3,147.91 29,059.35 -9.77% -1,730.43
IGIB iShares Intermediate-Term Corporate Bond ETF BlackRock -2,937.20 5,866.52 -33.36% -461.30
JNK SPDR Bloomberg Barclays High Yield Bond ETF State Street Global Advisors -2,678.85 9,763.55 -21.53% -198.94

 

Asset Classes (August 2018)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 17,190.52 2,161,087.49 0.80%
International Equity 3,824.14 799,365.52 0.48%
U.S. Fixed Income 5,852.00 569,442.55 1.03%
International Fixed Income 581.67 63,536.17 0.92%
Commodities  -2,348.83 59,434.03 -3.95%
Currency -41.69 1,108.46 -3.76%
Leveraged -485.29 37,759.00 -1.29%
Inverse 379.16 12,800.60 2.96%
Asset Allocation 25.52 9,502.70 0.27%
Alternatives 308.14 4,722.19 6.53%
Total: 25,285.33 3,718,758.71 0.68%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 70,044.40 2,161,087.49 3.24%
International Equity 35,841.11 799,365.52 4.48%
U.S. Fixed Income 55,957.75 569,442.55 9.38%
International Fixed Income 7,438.88 63,536.17 12.19%
Commodities  -1,454.07 59,434.03 -2.45%
Currency -82.18 1,108.46 -7.41%
Leveraged 2,608.24 37,759.00 6.91%
Inverse 2,655.81 12,800.60 20.75%
Asset Allocation 643.84 9,502.70 6.78%
Alternatives 471.68 4,722.19 9.99%
Total: 173,741.30 3,718,758.71 4.62%

 

August 2018 League Table

Issuer Net Flows ($,M) AUM ($,M) % of AUM YTD 2018 Net Flows($,M)
BlackRock 15,909.26 1,445,213.73 1.10% 62,800.05
Vanguard 5,291.23 933,809.22 0.57% 50,036.81
State Street Global Advisors -7,544.04 642,782.69 -1.17% -11,351.42
Invesco 3,415.28 198,147.36 1.72% 6,376.52
Charles Schwab 2,387.58 124,582.48 1.92% 21,088.94
First Trust 1,429.53 72,933.63 1.96% 10,885.26
WisdomTree -560.67 41,599.48 -1.35% -4,453.71
VanEck 617.84 34,040.99 1.81% 3,328.89
ProShares -844.00 31,389.91 -2.69% 2,260.31
PIMCO 261.75 16,975.28 1.54% 2,286.46
Northern Trust -166.86 16,531.14 -1.01% 475.36
JPMorgan 3,713.96 14,750.78 25.18% 8,270.87
ALPS -167.82 14,399.80 -1.17% -282.77
Direxion 76.81 12,683.72 0.61% 648.05
Deutsche Bank 79.78 12,583.66 0.63% -652.88
Fidelity 339.90 12,506.97 2.72% 2,691.33
Mirae Asset Global Investments -146.71 10,342.60 -1.42% 2,133.73
Goldman Sachs 472.61 9,348.93 5.06% 2,684.02
UBS 23.06 7,494.82 0.31% -34.65
Barclays Bank PLC 111.77 5,700.45 1.96% 2,125.94
Exchange Traded Concepts -143.99 5,418.04 -2.66% 462.29
Credit Suisse 172.83 4,469.73 3.87% 145.54
IndexIQ -80.59 4,198.93 -1.92% 651.09
The Principal Financial Group 3.80 3,607.34 0.11% 1,254.27
ETF Managers Group 138.50 3,304.18 4.19% 1,180.79
Victory Capital Management 76.10 3,199.46 2.38% 808.39
OppenheimerFunds -228.53 3,165.55 -7.22% 494.20
Pacer Financial 156.17 2,885.49 5.41% 1,141.49
US Commodity Funds -372.55 2,819.74 -13.21% -1,131.57
ARK 116.24 2,656.28 4.38% 1,409.75
ETF Securities -8.80 2,033.03 -0.43% -284.30
KraneShares -31.98 1,771.31 -1.81% 547.39
Franklin Templeton Investments 197.65 1,600.34 12.35% 603.09
John Hancock 58.83 1,473.81 3.99% 308.04
Hartford 110.91 1,164.52 9.52% 796.71
USAA Asset Management 48.17 1,156.25 4.17% 819.05
Northern Lights 64.30 1,137.95 5.65% 311.74
Virtus -8.50 1,031.76 -0.82% 40.59
Columbia -23.69 939.53 -2.52% -253.74
Millington Securities Inc -0.64 930.87 -0.07% -68.38
Transamerica 0.00 830.07 0.00% -56.62
AdvisorShares -31.85 811.20 -3.93% -62.10
Innovator Capital Management 16.23 771.65 2.10% 211.13
Amplify 26.23 758.05 3.46% 492.07
CitiGroup -21.04 723.01 -2.91% 93.19
Cambria 3.42 707.20 0.48% 25.56
Janus Henderson 66.12 699.85 9.45% 405.93
OSI ETF Trust -1.18 668.46 -0.18% -60.78
Nuveen 11.08 607.43 1.82% 176.51
Davis 29.54 601.21 4.91% 229.01
Highland Capital Management -11.04 553.82 -1.99% -10.92
Alpha Architect 13.83 513.54 2.69% 176.42
BMO 90.48 380.50 23.78% 76.84
Nationwide Fund Advisors -1.40 380.35 -0.37% 9.33
GraniteShares 15.84 333.04 4.75% 323.48
Reality Shares 2.19 265.67 0.82% 166.39
Strategy Shares 13.83 264.66 5.23% 177.76
Aptus Capital Advisors 56.61 210.66 26.87% 136.02
Arrow Investment Advisors -1.43 181.20 -0.79% 13.87
Montage Managers 0.00 175.31 0.00% 46.78
Aberdeen Asset Management 5.90 158.10 3.73% 81.02
ClearShares 0.00 140.06 0.00% 25.00
The RBB Fund 9.05 139.66 6.48% 123.23
TrimTabs Asset Management 21.38 136.18 15.70% 78.55
Merk 0.00 135.94 0.00% 10.75
US Global Investors 0.00 111.95 0.00% 0.75
EntrepreneurShares, LLC 2.69 81.73 3.29% 14.46
Exponential ETFs 0.83 69.39 1.19% 13.39
OBP Capital LLC 0.00 53.82 0.00% 3.80
PGIM Investments 13.77 51.37 26.81% 26.28
Natixis 2.48 44.69 5.55% 7.20
Point Bridge Capital -0.71 39.12 -1.81% 4.38
Premise Capital 0.00 34.33 0.00% 13.54
AlphaMark Advisors 0.00 29.00 0.00% 0.00
Validea Capital Management 0.00 26.87 0.00% 0.03
FQF Trust 0.00 23.71 0.00% -3.40
Diamond Hill 0.00 22.34 0.00% 1.52
Renaissance Capital 0.00 22.18 0.00% 0.00
Morgan Stanley 0.00 22.02 0.00% -8.50
Metaurus Advisors -0.00 19.92 -0.00% 13.45
American Century 0.00 19.58 0.00% 18.60
Active Weighting Advisors 0.00 17.36 0.00% 1.19
Advisors Asset Management 0.02 14.83 0.17% 9.32
Sage Advisory Services 0.00 14.58 0.00% 4.84
USCF Advisers -1.05 11.88 -8.85% 0.14
Cboe Vest Financial 3.16 11.73 26.92% 11.19
CSOP 0.00 10.79 0.00% 2.79
SL Advisors 1.35 9.29 14.50% 5.21
StrongVest 0.00 8.72 0.00% 0.00
TriLine Index Solutions 0.00 6.66 0.00% 6.25
Regents Park Funds 0.00 6.08 0.00% 3.71
Little Harbor Advisors 0.00 5.88 0.00% 5.64
SerenityShares 0.00 4.45 0.00% 0.00
Impact Shares 2.00 4.18 47.85% 4.10
Change Finance 0.00 4.08 0.00% 0.96
EquBot 0.00 3.67 0.00% 3.74
Salt Financial 0.00 3.19 0.00% 3.12
Defiance ETFs 2.50 2.56 97.69% 2.50
Whitford Asset Management 0.00 0.64 0.00% -1.91
Swedish Export Credit 0.00 -- 0.00% 0.00
Legg Mason 0.00 -- 0.00% 142.50

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.

 

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