ETF Inflows Strong Despite Hawkish Fed

Sep 01, 2022

Reviewed by: Shubham Saharan

Edited by: Shubham Saharan

Strong inflows continued into exchange-traded funds in August, climbing to $43 billion, up nearly 10% from July.

The volumes may come as a surprise, as investors responded to central bankers’ warnings at the annual Jackson Hole conference about higher interest rates for the foreseeable future. ETF flows plummeted 84% last week from the week prior. Equity funds were the hardest hit last week, while bonds thrived, a trend analysts predict could continue in the coming months.

However, equity flows rose for the second straight month overall. U.S. equity funds raked in $30.7 billion last month, more than three times the $10 billion intake in July. U.S. fixed income ETF inflows declined to about half that of July’s, falling to $13.2 billion from $27.9 billion.

2022 remains on track to be the second-best year for ETF inflows on record.

The trend was already somewhat reflected in this month’s top asset gatherers. The top-performing ETFs during the month included the Vanguard Total Bond Market ETF (BND), the Vanguard Short-Term Corporate Bond ETF (VCSH) and the iShares 7-10 Year Treasury Bond ETF (IEF).

On the other side of the ledger, equity-focused funds including the SPDR Portfolio S&P 500 High Dividend ETF (SPYD), the iShares Core S&P Total U.S. Stock Market ETF (ITOT) and the SPDR S&P Dividend ETF (SDY) saw the most outflows during the month.

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

Contact Shubham Saharan at [email protected]  

Top Gainers (August 2022)

Ticker	Name	Issuer	Net Flows ($,mm)	AUM ($M)	% of AUM	YTD 2022 Net Flows($,M)
XLF	Financial Select Sector SPDR Fund	State Street Global Advisors	3,853.46	33,513.19	11.50%	-4,420.99
VOO	Vanguard S&P 500 ETF	Vanguard	3,620.95	265,704.75	1.36%	32,902.93
BND	Vanguard Total Bond Market ETF	Vanguard	2,587.64	83,537.85	3.10%	9,573.16
VCSH	Vanguard Short-Term Corporate Bond ETF	Vanguard	2,562.56	43,784.90	5.85%	4,766.24
VTI	Vanguard Total Stock Market ETF	Vanguard	2,465.08	263,437.14	0.94%	16,769.70
IEF	iShares 7-10 Year Treasury Bond ETF	Blackrock	2,436.61	23,130.33	10.53%	7,692.14
IVV	iShares Core S&P 500 ETF	Blackrock	2,311.09	298,263.61	0.77%	18,125.71
VGIT	Vanguard Intermediate-Term Treasury Index ETF	Vanguard	2,227.45	11,748.82	18.96%	3,139.13
TLT	iShares 20+ Year Treasury Bond ETF	Blackrock	2,167.34	25,661.88	8.45%	11,089.82
AGG	iShares Core U.S. Aggregate Bond ETF	Blackrock	1,462.60	82,546.80	1.77%	813.79

Top Gainers (Year-to-Date)

Ticker	Name	Issuer	Net Flows ($,mm)	AUM ($M)	% of AUM	August 2022 Net Flows($,M)
VOO	Vanguard S&P 500 ETF	Vanguard	32,902.93	265,704.75	12.38%	3,620.95
IVV	iShares Core S&P 500 ETF	Blackrock	18,125.71	298,263.61	6.08%	2,311.09
VTI	Vanguard Total Stock Market ETF	Vanguard	16,769.70	263,437.14	6.37%	2,465.08
VTV	Vanguard Value ETF	Vanguard	13,665.27	98,495.19	13.87%	631.54
TLT	iShares 20+ Year Treasury Bond ETF	Blackrock	11,089.82	25,661.88	43.22%	2,167.34
SCHD	Schwab U.S. Dividend Equity ETF	Charles Schwab	9,729.01	37,434.40	25.99%	1,423.51
BND	Vanguard Total Bond Market ETF	Vanguard	9,573.16	83,537.85	11.46%	2,587.64
TQQQ	ProShares UltraPro QQQ	ProShares	8,579.49	12,293.28	69.79%	102.11
GOVT	iShares U.S. Treasury Bond ETF	Blackrock	8,254.24	22,628.45	36.48%	96.29
JEPI	JPMorgan Equity Premium Income ETF	JPMorgan Chase	7,703.78	12,517.28	61.55%	1,332.85

Biggest Losers (August 2022)

Ticker	Name	Issuer	Net Flows ($,mm)	AUM ($M)	% of AUM	YTD 2022 Net Flows($,M)
BBEU	JPMorgan BetaBuilders Europe ETF	JPMorgan Chase	-2,445.12	3,029.88	-80.70%	-4,758.67
HYG	iShares iBoxx USD High Yield Corporate Bond ETF	Blackrock	-2,325.01	12,334.87	-18.85%	-6,856.41
GLD	SPDR Gold Trust	State Street Global Advisors	-1,824.08	54,130.62	-3.37%	395.93
SPYD	SPDR Portfolio S&P 500 High Dividend ETF	State Street Global Advisors	-1,458.58	7,865.69	-18.54%	2,926.37
BIL	SPDR Bloomberg 1-3 Month T-Bill ETF	State Street Global Advisors	-1,379.34	17,393.08	-7.93%	3,790.61
MUB	iShares National Muni Bond ETF	Blackrock	-1,308.42	27,596.08	-4.74%	4,676.08
ITOT	iShares Core S&P Total U.S. Stock Market ETF	Blackrock	-1,184.27	40,995.46	-2.89%	2,131.78
SDY	SPDR S&P Dividend ETF	State Street Global Advisors	-1,167.89	22,097.29	-5.29%	1,931.58
EFA	iShares MSCI EAFE ETF	Blackrock	-1,060.21	44,143.52	-2.40%	-1,046.97
QQQ	Invesco QQQ Trust	Invesco	-1,025.00	165,267.01	-0.62%	1,146.12

Biggest Losers (Year-to-Date)

Ticker	Name	Issuer	Net Flows ($,mm)	AUM ($M)	% of AUM	August 2022 Net Flows($,M)
SPY	SPDR S&P 500 ETF Trust	State Street Global Advisors	-24,135.63	360,973.24	-6.69%	434.71
HYG	iShares iBoxx USD High Yield Corporate Bond ETF	Blackrock	-6,856.41	12,334.87	-55.59%	-2,325.01
VLUE	iShares MSCI USA Value Factor ETF	Blackrock	-5,489.48	8,673.27	-63.29%	-246.23
IWM	iShares Russell 2000 ETF	Blackrock	-5,033.58	52,872.30	-9.52%	83.43
TIP	iShares TIPS Bond ETF	Blackrock	-4,922.99	29,883.89	-16.47%	-0.92
BBEU	JPMorgan BetaBuilders Europe ETF	JPMorgan Chase	-4,758.67	3,029.88	-157.06%	-2,445.12
XLF	Financial Select Sector SPDR Fund	State Street Global Advisors	-4,420.99	33,513.19	-13.19%	3,853.46
SCHP	Schwab U.S. TIPS ETF	Charles Schwab	-3,448.85	15,727.36	-21.93%	-188.82
VGK	Vanguard FTSE Europe ETF	Vanguard	-2,966.33	14,284.36	-20.77%	-537.85
FDN	First Trust Dow Jones Internet Index Fund	First Trust	-2,598.65	4,122.54	-63.04%	-245.73

Asset Classes (August 2022)

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	30,725.56	3,869,758.97	0.79%
International Equity	-2,377.50	1,111,587.13	-0.21%
U.S. Fixed Income	13,184.58	1,111,934.02	1.19%
International Fixed Income	1,785.20	139,845.91	1.28%
Commodities	-2,696.10	139,556.16	-1.93%
Currency	117.51	4,277.80	2.75%
Leveraged	155.44	48,496.65	0.32%
Inverse	1,898.09	25,286.85	7.51%
Asset Allocation	-173.84	16,835.01	-1.03%
Alternatives	384.26	8,274.66	4.64%
Total:	43,003.21	6,475,853.13	0.66%

Asset Classes (Year-to-Date)

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	172,099.77	3,869,758.97	4.45%
International Equity	66,938.22	1,111,587.13	6.02%
U.S. Fixed Income	102,954.58	1,111,934.02	9.26%
International Fixed Income	6,142.82	139,845.91	4.39%
Commodities	5,941.85	139,556.16	4.26%
Currency	1,805.05	4,277.80	42.20%
Leveraged	17,448.50	48,496.65	35.98%
Inverse	12,203.41	25,286.85	48.26%
Asset Allocation	278.56	16,835.01	1.65%
Alternatives	1,690.35	8,274.66	20.43%
Total:	387,503.10	6,475,853.13	5.98%

August 2022 ETF Issuer League Table

Issuer	Net Flows ($,M)	AUM ($,M)	% of AUM	YTD 2022 Net Flows($,M)
Blackrock	4,684.58	2,178,685.83	0.22%	91,476.81
Vanguard	24,236.67	1,890,238.18	1.28%	139,843.54
State Street Global Advisors	1,766.29	972,651.75	0.18%	3,633.82
Invesco	-74.98	352,271.17	-0.02%	18,198.13
Charles Schwab	2,997.75	252,540.21	1.19%	22,692.29
First Trust	1,461.96	122,771.17	1.19%	8,404.05
JPMorgan Chase	37.43	82,204.57	0.05%	11,362.19
ProShares	1,490.82	62,561.97	2.38%	20,808.02
Dimensional Holdings	1,901.17	60,722.88	3.13%	14,884.20
VanEck	-645.09	49,732.57	-1.30%	1,581.65
WisdomTree	799.80	44,128.61	1.81%	8,477.49
Mirae Asset Global Investments Co., Ltd.	725.14	38,853.86	1.87%	3,914.58
Fidelity	468.76	31,126.36	1.51%	2,131.86
Goldman Sachs	480.76	25,161.12	1.91%	2,673.49
PIMCO	-337.13	23,193.21	-1.45%	-2,040.74
Direxion	475.86	22,433.43	2.12%	8,433.04
Northern Trust	0.99	21,164.09	0.00%	2,455.71
DWS	-438.11	18,902.36	-2.32%	-1,697.25
Pacer Advisors	1,078.98	16,212.00	6.66%	7,841.95
ARK	-975.85	14,523.96	-6.72%	-565.31
American Century Investments	769.64	13,788.13	5.58%	5,599.57
AJM Ventures LLC	222.32	12,466.38	1.78%	-1,424.06
SS&C	30.20	11,212.46	0.27%	590.11
CICC	-761.07	10,933.53	-6.96%	927.09
Franklin Templeton	725.41	9,151.62	7.93%	561.89
Innovator	442.13	8,433.35	5.24%	3,056.37
Victory Capital	182.79	7,952.83	2.30%	1,381.75
Nuveen Securities	123.90	7,584.06	1.63%	873.72
Abrdn Plc	-7.64	6,956.58	-0.11%	778.85
WisdomTree Investments, Inc.	-80.50	6,036.81	-1.33%	-205.05
Janus Henderson	-35.31	5,359.28	-0.66%	1,171.45
Exchange Traded Concepts	-45.09	5,065.97	-0.89%	-435.50
John Hancock	63.75	5,052.02	1.26%	428.95
ETFMG	-30.91	4,192.81	-0.74%	-279.38
New York Life	83.59	4,011.80	2.08%	-194.94
The Hartford	58.12	3,765.43	1.54%	144.76
Marygold Cos, Inc.	-87.50	3,685.80	-2.37%	-1,533.92
Amplify Investments	87.87	3,553.88	2.47%	445.12
BMO	83.40	3,353.78	2.49%	1,014.04
The Capital Group Companies	615.93	2,861.82	21.52%	2,991.09
Toroso Investments	17.09	2,853.17	0.60%	459.11
Barclays Capital Inc.	-102.17	2,727.37	-3.75%	-950.15
Prudential	74.76	2,716.30	2.75%	595.33
Principal	-778.38	2,663.95	-29.22%	-1,664.98
US Global Investors	-10.48	2,554.35	-0.41%	-77.94
Aptus Capital Advisors	25.73	1,996.65	1.29%	306.90
AdvisorShares	7.94	1,654.16	0.48%	130.50
Cambria	-0.59	1,557.06	-0.04%	544.29
Virtus Investment Partners	35.95	1,453.52	2.47%	62.80
Simplify Asset Management Inc.	89.69	1,434.93	6.25%	554.67
Alpha Architect	294.62	1,417.79	20.78%	475.71
Strategy Shares	-3.10	1,409.92	-0.22%	160.84
GraniteShares	-65.52	1,391.53	-4.71%	33.07
BNY Mellon	88.51	1,370.74	6.46%	302.39
Columbia Management Investment Advisers, LLC	-11.42	1,352.97	-0.84%	-236.14
Vident	17.63	1,313.23	1.34%	50.09
Sprott, Inc.	9.90	1,307.75	0.76%	320.70
UBS	0.00	1,300.60	0.00%	8.49
Horizon Kinetics LLC	-44.26	1,268.49	-3.49%	467.96
The Motley Fool	-8.86	1,199.74	-0.74%	-94.80
Inspire Investing LLC	59.23	1,103.58	5.37%	172.94
Defiance ETFs	-25.16	1,094.63	-2.30%	-208.86
Main Management	16.61	1,018.93	1.63%	28.14
Davis Advisers	-3.61	883.14	-0.41%	-146.60
Distillate Capital	27.97	817.84	3.42%	298.12
Teucrium	110.35	808.41	13.65%	590.62
Credit Suisse Group AG	1.31	707.45	0.19%	289.91
T. Rowe Price Group, Inc.	42.66	693.25	6.15%	218.49
Nationwide	-15.35	657.14	-2.34%	-24.33
Roundhill Investments	-12.70	651.45	-1.95%	-94.94
Tortoise	1.16	643.15	0.18%	65.63
Tuttle Tactical Management, LLC	146.71	623.11	23.55%	284.75
Merk	-1.81	615.27	-0.29%	63.70
Timothy Plan	3.69	606.46	0.61%	119.75
Redwood Investment Management	16.77	587.28	2.86%	-80.10
Litman Gregory Capital Partners LLC	93.00	558.43	16.65%	459.84
Regents Park Funds	9.24	533.02	1.73%	216.43
Howard Capital Management	21.90	526.24	4.16%	9.74
Day Hagan Asset Management	16.76	517.22	3.24%	190.77
ClearShares LLC	20.06	507.98	3.95%	135.16
Core Alternative Capital	37.73	443.85	8.50%	175.43
Liquid Strategies	3.85	434.58	0.89%	41.50
Engine No. 1 LLC	-28.45	420.80	-6.76%	191.69
TrimTabs	-10.23	385.30	-2.66%	-53.44
ORIX Corp.	11.87	379.58	3.13%	153.78
Advisors Asset Management	20.96	354.53	5.91%	173.27
Cavalier16	-19.00	354.09	-5.37%	-19.81
Swedish Export Credit	-14.08	336.02	-4.19%	9.35
Retireful LLC	24.61	299.03	8.23%	316.79
Bondbloxx Investment Management LLC	-7.64	280.90	-2.72%	258.82
AXS Investments	26.16	271.02	9.65%	170.00
Little Harbor Advisors	-6.06	260.57	-2.32%	-44.89
WBI	0.00	247.21	0.00%	-15.61
AGF	6.11	218.05	2.80%	101.17
Truemark Group	0.90	201.53	0.44%	22.00
Syntax Advisors	8.03	201.47	3.99%	5.31
Wahed Invest LLC	2.93	200.20	1.46%	53.83
Al Marketing LLC	-1.73	197.58	-0.88%	-77.98
Renaissance Capital	-14.91	194.98	-7.65%	-56.39
SRN Advisors	-8.49	187.63	-4.52%	-72.26
Volatility Shares LLC	18.43	184.84	9.97%	212.67
Wainwright, Inc.	0.00	183.41	0.00%	29.83
Impact Shares	6.95	172.61	4.02%	13.88
Stf Management LP	3.99	169.94	2.35%	177.20
Oneascent Holdings LLC	-1.38	164.57	-0.84%	101.93
Kingsview Partners LLC	14.45	161.34	8.96%	57.12
Western & Southern Mutual Holding Co.	31.85	161.18	19.76%	31.85
OBP Capital LLC	3.58	149.81	2.39%	23.65
Rayliant Investment Research	1.50	149.77	1.00%	109.59
Truist	-0.60	149.59	-0.40%	12.10
Gadsden	7.18	145.31	4.94%	26.38
Cary Street Partners Financial LLC /VA/	9.39	139.64	6.72%	143.55
Swan Global Investments	-22.76	134.66	-16.90%	-4.93
CornerCap Investment Counsel, Inc.	1.53	133.34	1.15%	33.76
Intangible Capital	-5.78	130.85	-4.42%	-22.84
Doubleline ETF Adviser LP	0.00	121.65	0.00%	49.44
Humankind USA LLC	0.03	116.31	0.03%	17.61
Arrow Funds	-2.00	111.47	-1.80%	-9.77
Neil Azous Revocable Trust	3.68	101.73	3.61%	31.22
Pacific Life	13.63	84.78	16.07%	54.51
Water Island Capital Partners LP	1.32	82.49	1.61%	57.98
Baird Financial Group	13.91	77.36	17.99%	81.85
Renaissance Health Service Corp.	77.68	77.11	100.74%	77.68
Absolute Investment Advisers LLC	3.41	73.37	4.65%	22.89
First Manhattan Co.	0.00	70.93	0.00%	0.03
Power Corporation of Canada	13.74	70.66	19.45%	33.97
Exponential ETFs	0.00	70.45	0.00%	-1.16
Toews Corp.	3.33	69.49	4.80%	18.72
IronHorse Holdings	3.52	66.91	5.26%	3.52
ProcureAM	-3.22	66.71	-4.83%	-15.13
Beyond Investing	0.00	65.08	0.00%	6.79
Inverdale Capital Management LLC	1.67	64.90	2.58%	27.71
Pettee Investors	-0.26	64.22	-0.40%	-16.29
GeaSphere LLC	0.00	64.09	0.00%	6.24
Emles Advisors LLC	1.31	62.71	2.08%	4.89
Cohanzick Management	2.05	62.18	3.30%	19.03
Natixis	-2.39	61.83	-3.87%	-4.29
EntrepreneurShares, LLC	0.00	54.18	0.00%	-20.64
SEI Investments	-2.69	53.61	-5.02%	52.99
Federated Hermes, Inc.	-2.03	52.39	-3.87%	7.48
Alexis Investment Partners LLC	6.01	51.30	11.72%	7.56
Formidable Asset Management	0.00	50.59	0.00%	9.52
VectorShares LLC	2.59	45.63	5.68%	30.39
Logan Capital Management Inc.	0.00	45.48	0.00%	0.00
Red Gate Advisers LLC	3.04	42.88	7.08%	9.31
Guinness Atkinson Asset Management	0.00	42.17	0.00%	-1.73
Alger Group Holdings LLC	0.54	41.93	1.29%	6.16
ETF Series Solutions	0.00	39.60	0.00%	0.72
2nd Vote Value Investments, Inc	0.00	38.78	0.00%	-1.73
The Leuthold Group LLC	10.97	36.83	29.77%	21.36
Premise Capital	-0.74	33.58	-2.21%	-2.02
Highland Capital Management	-3.03	33.01	-9.18%	-10.96
Advocate Capital Management LLC	-0.26	32.85	-0.80%	10.27
Build Asset Management LLC	0.00	31.88	0.00%	34.02
Ridgeline Research LLC	0.00	31.40	0.00%	2.41
ASYMmetric ETFs	-0.80	31.27	-2.56%	10.16
Metaurus Advisors	-0.03	30.48	-0.11%	5.00
Sheaff Brock Capital Management LLC	0.54	29.61	1.81%	3.21
GAMCO Investors, Inc.	0.00	25.21	0.00%	3.82
Convergence Investment Partners, LLC	-0.45	23.53	-1.92%	-1.64
Cultivar Capital, Inc.	0.00	23.52	0.00%	15.64
Esoterica	0.00	22.01	0.00%	-8.11
Faith Investor Services, LLC	-1.33	21.89	-6.06%	24.38
Valkyrie Funds LLC	-0.52	21.63	-2.41%	-23.52
AlphaMark Advisors	0.00	21.51	0.00%	0.00
First Pacific Advisors LP	1.10	21.00	5.23%	22.78
Reflection Asset Management, LLC	1.28	19.64	6.52%	8.75
Knights of Columbus	-1.27	18.21	-6.99%	-2.07
Mairs & Power, Inc.	0.00	17.45	0.00%	1.33
Point Bridge Capital	-0.98	15.26	-6.43%	1.94
Zacks Investment Management	0.60	14.69	4.11%	4.21
Applied Finance Group	0.63	12.62	4.98%	4.60
Changebridge Capital LLC	-0.47	12.30	-3.83%	-2.56
Matthews International Capital Management	7.04	11.25	62.53%	7.04
GCI Investors, Inc.	0.00	11.07	0.00%	7.40
WealthTrust Asset Management LLC	0.53	10.37	5.12%	10.10
Goose Hollow Capital Management LLC	4.65	10.33	45.02%	9.34
Future Fund Advisors	-0.38	9.72	-3.93%	-2.38
Counterpoint Mutual Funds LLC	0.00	9.26	0.00%	0.00
Alphatrai Funds, Inc.	-2.24	8.99	-24.95%	3.11
MCCM Group LLC	0.00	8.74	0.00%	8.80
Lifegoal Investments LLC	-0.22	8.22	-2.62%	5.19
Alternative Access Funds LLC	0.00	7.35	0.00%	-2.43
Kelly Strategic Management LLC	2.50	6.92	36.17%	7.58
Digital Currency Group, Inc.	0.00	5.96	0.00%	12.54
Nuveen Investments, Inc.	0.00	5.22	0.00%	0.00
VegTech LLC	0.81	5.08	15.87%	4.15
Rcube SAS	0.57	4.95	11.49%	4.75
Clockwise Capital LLC	0.00	4.85	0.00%	3.58
Democracy Investment Management LLC	0.00	4.79	-0.01%	2.39
Lyrical Partners	0.00	4.54	0.00%	1.31
Spear Advisors LLC	0.00	3.43	0.00%	0.30
Jacob Asset Management	0.10	3.42	3.00%	-0.04
V-Square Quantitative Management LLC	0.00	3.39	0.00%	2.47
RBS Securities	2.99	2.98	100.32%	2.99
Volt Equity LLC	0.15	2.55	5.86%	0.48
Dynamic Shares LLC	0.00	2.37	0.00%	1.00
Grizzle Investment Management LLC	0.00	1.85	0.00%	1.10
Kingsbarn Capital Management LLC	-1.11	1.66	-67.32%	0.12
Amberwave Partners Research & Management LLC	0.00	1.61	0.00%	1.28
Big Data Federation, Inc.	0.00	1.51	0.00%	0.62
Dalton Capital	0.00	1.24	0.00%	0.26
Inherent Wealth Fund LLC	0.19	1.06	18.07%	0.97
Subversive Capital Advisor LLC	0.00	0.96	0.00%	1.25
Tradelegs LLC	0.00	0.50	0.00%	0.50
Neuberger Berman	0.00	0.00	0.00%	-0.52
Cabot ETF Partners LLC	0.00	0.00	0.00%	-0.29
Eaton Vance Corp.	0.00	0.00	0.00%	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.

Shubham Saharan

| Contact: [email protected]

Shubham Saharan is a markets reporter at etf.com. Before joining the company, she reported for Bloomberg and the Financial Times. Saharan is a graduate of Barnard College of Columbia University.

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