ETF Inflows Strong Despite Hawkish Fed

September 01, 2022

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 Saharanat[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.

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