ETFs End Jan. With $37B Inflows

February 02, 2022

The U.S. ETF industry ended the most volatile month in the markets since the onset of the pandemic with $37 billion in net inflows, a far cry from the nearly $66 billion in new assets in January 2021.

According to ETF.com data provider FactSet, U.S.-listed ETFs now manage more than $6.8 billion in assets.

Bearish Big Names Offset With Leveraged Bulls

The turmoil in large cap names in the middle of January sent the S&P 500 near correction territory and the Nasdaq-100 tech names down to a loss of 14% at one point, sending investors using those funds toward the exits.

The SPDR S&P 500 ETF Trust (SPY) lost just over $18 billion in assets in the month, the worst outflow in its history, while the Invesco QQQ Trust (QQQ) lost just over $6.6 billion.

But tech bulls continued to gamble in a big way, as the triple-levered ProShares UltraPro QQQ (TQQQ) added just shy of $3.5 billion in an attempt to profit off the parent index’s wide intraday spreads. The Direxion Daily Semiconductor Bull 3X Shares (SOXL) added $1.9 billion in new assets.

Vanguard Dominates

Vanguard was a juggernaut of inflows among issuers on the month, adding $22.1 billion in new assets compared with losses of $538 million, $984 million and $4.6 billion for State Street, Invesco and BlackRock, respectively.

The Vanguard S&P 500 ETF (VOO) led all ETFs on inflows for the month, with $4.2 billion in new assets, while the Vanguard Total Stock Market ETF (VTI) added $3.9 billion. The Vanguard Value ETF (VTV) also added $2.3 billion as some investors cut their exposure to growth.

On the international side, the Vanguard FTSE Developed Markets ETF (VEA) took in $2.1 billion in the month. That figure was enough to lead all international equities funds, as the asset class saw monthly inflows of $24.3 billion.

Inflation-Resistant Equities Gain

The inflation trade shifted from protected bonds into equities set to benefit from higher prices as costs continue to rise and the Fed turns its attention to rate hikes.

The Financial Select Sector SPDR Fund (XLF) and the Consumer Staples Select Sector SPDR Fund (XLP) added a combined $5 billion in assets.

Gold also flourished, with the iShares Gold Trust (GLD) adding $2.5 billion during the month. More than $1.6 billion of that haul came on Jan. 21, marking a record inflow day for the largest physical gold ETF.

The iShares TIPS Bond ETF (TIP) lost $2.2 billion in assets during January, but $1.1 billion of that was on Jan. 31. Such a large outflow could mean a potential heartbeat trade is in the works.

Fleeing From Fixed Income

U.S. bond ETFs lost $8.6 billion as an asset class in January as dual pressure hurt both sides of the market. Decades-high levels of inflation have thrashed already low yields on Treasurys despite the Fed’s signaling of several hikes this year, and the central bank’s plans to cut down its balance sheet is injecting more risk to the junk bond market.

The iShares iBoxx USD High Yield Corporate Bond ETF (HYG) took the largest loss in the asset class, with just less than $3.6 billion in outflows, amounting to 20.7% of its prior assets under management, while the iShares 20+ Year Treasury Bond ETF (TLT) lost $3.5 billion in assets, amounting to a 22% reduction.

Finally, the thinly traded iShares MSCI Kokusai ETF (TOK) was third among all ETFs in new assets, with almost $3.7 billion on the month. However, all of that came solely on Jan. 26 after weeks of barely any activity. The unusual amount suggests that the inflow is the first leg of a heartbeat trade.

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

 

Top Gainers (January 2022)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM YTD 2022 Net Flows($,M)
VOO Vanguard S&P 500 ETF Vanguard 4,175.02 264,695.82 1.58% 4,175.02
VTI Vanguard Total Stock Market ETF Vanguard 3,947.19 278,775.04 1.42% 3,947.19
TOK iShares MSCI Kokusai ETF Blackrock 3,667.25 3,895.96 94.13% 3,667.25
TQQQ ProShares UltraPro QQQ ProShares 3,477.80 15,824.10 21.98% 3,477.80
XLF Financial Select Sector SPDR Fund State Street Global Advisors 2,818.83 47,054.23 5.99% 2,818.83
GLD SPDR Gold Trust State Street Global Advisors 2,504.88 58,493.44 4.28% 2,504.88
VTV Vanguard Value ETF Vanguard 2,259.53 93,174.39 2.43% 2,259.53
XLP Consumer Staples Select Sector SPDR Fund State Street Global Advisors 2,170.10 15,215.46 14.26% 2,170.10
VEA Vanguard FTSE Developed Markets ETF Vanguard 2,112.27 105,964.84 1.99% 2,112.27
SOXL Direxion Daily Semiconductor Bull 3X Shares Direxion 1,929.18 4,747.73 40.63% 1,929.18

 

Top Gainers (Year-to-Date)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM January 2022 Net Flows($,M)
VOO Vanguard S&P 500 ETF Vanguard 4,175.02 264,695.82 1.58% 4,175.02
VTI Vanguard Total Stock Market ETF Vanguard 3,947.19 278,775.04 1.42% 3,947.19
TOK iShares MSCI Kokusai ETF Blackrock 3,667.25 3,895.96 94.13% 3,667.25
TQQQ ProShares UltraPro QQQ ProShares 3,477.80 15,824.10 21.98% 3,477.80
XLF Financial Select Sector SPDR Fund State Street Global Advisors 2,818.83 47,054.23 5.99% 2,818.83
GLD SPDR Gold Trust State Street Global Advisors 2,504.88 58,493.44 4.28% 2,504.88
VTV Vanguard Value ETF Vanguard 2,259.53 93,174.39 2.43% 2,259.53
XLP Consumer Staples Select Sector SPDR Fund State Street Global Advisors 2,170.10 15,215.46 14.26% 2,170.10
VEA Vanguard FTSE Developed Markets ETF Vanguard 2,112.27 105,964.84 1.99% 2,112.27
SOXL Direxion Daily Semiconductor Bull 3X Shares Direxion 1,929.18 4,747.73 40.63% 1,929.18

 

Biggest Losers (January 2022)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM YTD 2022 Net Flows($,M)
SPY SPDR S&P 500 ETF Trust State Street Global Advisors -18,049.56 405,811.27 -4.45% -18,049.56
QQQ Invesco QQQ Trust Invesco -6,626.78 184,930.29 -3.58% -6,626.78
HYG iShares iBoxx USD High Yield Corporate Bond ETF Blackrock -3,559.59 17,230.16 -20.66% -3,559.59
TLT iShares 20+ Year Treasury Bond ETF Blackrock -3,450.32 15,631.52 -22.07% -3,450.32
TIP iShares TIPS Bond ETF Blackrock -2,248.58 35,595.77 -6.32% -2,248.58
LQD iShares iBoxx USD Investment Grade Corporate Bond ETF Blackrock -2,070.19 35,444.28 -5.84% -2,070.19
VLUE iShares MSCI USA Value Factor ETF Blackrock -1,653.73 13,948.98 -11.86% -1,653.73
IWF iShares Russell 1000 Growth ETF Blackrock -1,381.72 68,891.31 -2.01% -1,381.72
IWD iShares Russell 1000 Value ETF Blackrock -1,224.39 56,702.93 -2.16% -1,224.39
IVW iShares S&P 500 Growth ETF Blackrock -1,052.02 35,200.56 -2.99% -1,052.02

 

Biggest Losers (Year-to-Date)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM January 2022 Net Flows($,M)
SPY SPDR S&P 500 ETF Trust State Street Global Advisors -18,049.56 405,811.27 -4.45% -18,049.56
QQQ Invesco QQQ Trust Invesco -6,626.78 184,930.29 -3.58% -6,626.78
HYG iShares iBoxx USD High Yield Corporate Bond ETF Blackrock -3,559.59 17,230.16 -20.66% -3,559.59
TLT iShares 20+ Year Treasury Bond ETF Blackrock -3,450.32 15,631.52 -22.07% -3,450.32
TIP iShares TIPS Bond ETF Blackrock -2,248.58 35,595.77 -6.32% -2,248.58
LQD iShares iBoxx USD Investment Grade Corporate Bond ETF Blackrock -2,070.19 35,444.28 -5.84% -2,070.19
VLUE iShares MSCI USA Value Factor ETF Blackrock -1,653.73 13,948.98 -11.86% -1,653.73
IWF iShares Russell 1000 Growth ETF Blackrock -1,381.72 68,891.31 -2.01% -1,381.72
IWD iShares Russell 1000 Value ETF Blackrock -1,224.39 56,702.93 -2.16% -1,224.39
IVW iShares S&P 500 Growth ETF Blackrock -1,052.02 35,200.56 -2.99% -1,052.02

 

Asset Classes (January 2022)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 8,471.18 4,059,819.92 0.21%
International Equity 24,342.65 1,257,753.72 1.94%
U.S. Fixed Income -8,639.68 1,080,831.56 -0.80%
International Fixed Income 1,961.66 159,249.69 1.23%
Commodities 4,525.94 140,909.04 3.21%
Currency -25.12 2,929.37 -0.86%
Leveraged 4,718.16 61,679.42 7.65%
Inverse 1,174.03 13,426.01 8.74%
Asset Allocation 380.10 19,955.15 1.90%
Alternatives 104.30 7,103.27 1.47%
Total: 37,013.21 6,803,657.14 0.54%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 8,471.18 4,059,819.92 0.21%
International Equity 24,342.65 1,257,753.72 1.94%
U.S. Fixed Income -8,639.68 1,080,831.56 -0.80%
International Fixed Income 1,961.66 159,249.69 1.23%
Commodities 4,525.94 140,909.04 3.21%
Currency -25.12 2,929.37 -0.86%
Leveraged 4,718.16 61,679.42 7.65%
Inverse 1,174.03 13,426.01 8.74%
Asset Allocation 380.10 19,955.15 1.90%
Alternatives 104.30 7,103.27 1.47%
Total: 37,013.21 6,803,657.14 0.54%

 

January 2022 ETF Issuer League Table

Issuer Net Flows ($,M) AUM ($,M) % of AUM YTD 2022 Net Flows($,M)
Blackrock -4,608.93 2,322,960.08 -0.20% -4,608.93
Vanguard 22,140.95 1,977,132.99 1.12% 22,140.95
State Street Global Advisors -538.11 1,048,372.71 -0.05% -538.11
Invesco -984.63 372,588.71 -0.26% -984.63
Charles Schwab 4,797.62 260,754.21 1.84% 4,797.62
First Trust 805.51 140,091.35 0.57% 805.51
JPMorgan Chase 1,339.48 71,081.96 1.88% 1,339.48
ProShares 3,610.48 61,990.67 5.82% 3,610.48
VanEck 733.94 58,579.87 1.25% 733.94
WisdomTree 565.90 46,823.32 1.21% 565.90
Dimensional Fund Advisors LP 1,478.20 43,992.57 3.36% 1,478.20
Mirae Asset Global Investments Co., Ltd. 871.16 40,331.31 2.16% 871.16
Fidelity 243.58 32,137.25 0.76% 243.58
PIMCO -485.19 26,187.74 -1.85% -485.19
Goldman Sachs 538.91 26,043.82 2.07% 538.91
Direxion 2,465.46 25,710.06 9.59% 2,465.46
DWS -316.21 22,624.35 -1.40% -316.21
ARK -828.14 21,999.61 -3.76% -828.14
Northern Trust 69.15 20,010.18 0.35% 69.15
CICC 861.90 12,705.23 6.78% 861.90
Pacer Advisors 790.63 10,280.85 7.69% 790.63
American Century Investments 780.21 10,092.71 7.73% 780.21
Franklin Templeton 128.03 9,729.59 1.32% 128.03
SS&C 193.52 9,058.25 2.14% 193.52
Nuveen Securities 199.12 7,921.68 2.51% 199.12
Victory Capital 164.18 7,328.64 2.24% 164.18
Exchange Traded Concepts 176.14 7,316.34 2.41% 176.14
Abrdn Plc 55.56 6,774.65 0.82% 55.56
Innovator 397.40 6,121.27 6.49% 397.40
ETFMG -122.72 5,290.06 -2.32% -122.72
John Hancock 72.56 5,141.46 1.41% 72.56
Janus Henderson 215.17 4,561.59 4.72% 215.17
New York Life -57.01 4,416.06 -1.29% -57.01
The Hartford 131.69 4,250.00 3.10% 131.69
Principal -566.75 4,123.27 -13.75% -566.75
Amplify Investments 14.97 3,883.00 0.39% 14.97
US Commodity Funds -358.62 3,829.40 -9.36% -358.62
US Global Investors 351.01 3,549.99 9.89% 351.01
Barclays Capital Inc. -168.55 3,456.01 -4.88% -168.55
BMO 195.30 3,173.51 6.15% 195.30
Toroso Investments 179.98 3,077.47 5.85% 179.98
Prudential 23.23 2,163.75 1.07% 23.23
AdvisorShares -44.73 1,962.59 -2.28% -44.73
Roundhill Investments 128.26 1,942.79 6.60% 128.26
Aptus Capital Advisors 22.66 1,868.59 1.21% 22.66
Columbia Management Investment Advisers, LLC 9.41 1,780.30 0.53% 9.41
Strategy Shares 188.30 1,655.85 11.37% 188.30
The Motley Fool -3.27 1,483.91 -0.22% -3.27
Virtus Investment Partners -34.19 1,454.65 -2.35% -34.19
Defiance ETFs -40.07 1,452.72 -2.76% -40.07
Vident 18.70 1,434.31 1.30% 18.70
GraniteShares 9.48 1,391.81 0.68% 9.48
O’Shares Investments -4.16 1,359.81 -0.31% -4.16
UBS 0.00 1,341.31 0.00% 0.00
Cambria 159.83 1,308.81 12.21% 159.83
Nationwide 96.33 1,305.87 7.38% 96.33
BNY Mellon 27.32 1,212.31 2.25% 27.32
Simplify Asset Management Inc. 156.07 1,153.75 13.53% 156.07
Davis Advisers -120.57 1,073.23 -11.23% -120.57
Main Management -1.65 1,068.37 -0.15% -1.65
Alpha Architect 42.94 1,055.84 4.07% 42.94
Inspire 15.00 1,053.89 1.42% 15.00
Horizon Kinetics LLC 8.44 840.47 1.00% 8.44
Transamerica Funds 0.00 769.89 0.00% 0.00
Howard Capital Management 18.48 663.97 2.78% 18.48
Distillate Capital 65.86 644.57 10.22% 65.86
Merk 5.63 583.93 0.96% 5.63
T. Rowe Price Group, Inc. 19.79 575.84 3.44% 19.79
Credit Suisse Group AG 21.16 558.54 3.79% 21.16
Tortoise 13.63 544.60 2.50% 13.63
Timothy Plan 21.62 538.58 4.01% 21.62
Redwood Investment Management -183.20 536.11 -34.17% -183.20
Liquid Strategies 44.25 499.19 8.87% 44.25
ClearShares LLC 101.13 490.89 20.60% 101.13
TrimTabs 2.77 482.71 0.57% 2.77
Cavalier16 20.64 443.87 4.65% 20.64
Tuttle Tactical Management, LLC 178.68 430.44 41.51% 178.68
Day Hagan Asset Management 30.59 411.49 7.43% 30.59
Regents Park Funds 14.09 370.95 3.80% 14.09
Little Harbor Advisors -2.06 342.57 -0.60% -2.06
Swedish Export Credit 26.37 331.49 7.95% 26.37
Sprott, Inc. 2.70 329.73 0.82% 2.70
SRN Advisors -14.06 306.61 -4.59% -14.06
Al Marketing LLC -6.20 293.19 -2.11% -6.20
Renaissance Capital -22.37 287.88 -7.77% -22.37
Engine No. 1 LLC 22.65 282.01 8.03% 22.65
Teucrium -8.45 280.89 -3.01% -8.45
WBI -2.05 277.32 -0.74% -2.05
Core Alternative Capital 10.78 269.19 4.00% 10.78
Advisors Asset Management 36.71 241.60 15.20% 36.71
TrueMark Investments 14.85 205.76 7.22% 14.85
Wahed Invest LLC 29.12 194.50 14.97% 29.12
Syntax Advisors 0.00 191.26 0.00% 0.00
Impact Shares 4.33 183.00 2.36% 4.33
Intangible Capital 0.00 178.87 0.00% 0.00
Swan Global Investments 18.08 169.70 10.66% 18.08
Truist 7.33 160.39 4.57% 7.33
AGF 25.67 149.98 17.11% 25.67
Wainwright, Inc. 1.55 136.71 1.13% 1.55
Arrow Funds 1.32 129.54 1.02% 1.32
Gadsden 2.85 120.86 2.36% 2.85
Change Finance 14.47 117.83 12.28% 14.47
Rayliant Investment Research 65.49 116.83 56.05% 65.49
Kingsview Partners LLC 2.69 116.67 2.30% 2.69
CornerCap Investment Counsel, Inc. 3.17 111.29 2.85% 3.17
Humankind USA LLC 1.43 107.84 1.32% 1.43
Pettee Investors 6.96 99.85 6.97% 6.96
ProcureAM -6.25 89.95 -6.95% -6.25
EntrepreneurShares, LLC 0.00 87.75 0.00% 0.00
Neil Azous Revocable Trust 4.34 85.04 5.10% 4.34
Exponential ETFs 0.03 77.30 0.04% 0.03
Emles Advisors LLC 1.84 76.32 2.41% 1.84
GeaSphere LLC 1.74 74.33 2.34% 1.74
Natixis 2.81 73.58 3.82% 2.81
Beyond Investing 4.11 71.96 5.72% 4.11
Toews Corp. 16.84 71.11 23.68% 16.84
Harbor 0.00 66.79 0.00% 0.00
Absolute Investment Advisers LLC 0.71 55.38 1.28% 0.71
Oneascent Holdings LLC 1.20 55.05 2.18% 1.20
Federated Hermes, Inc. 3.49 52.82 6.61% 3.49
Pacific Life 17.63 52.14 33.81% 17.63
Alexis Investment Partners LLC 3.63 51.45 7.06% 3.63
Chadds Ford Investment Management LLC 9.93 49.28 20.15% 9.93
Guinness Atkinson Asset Management 0.00 49.09 0.00% 0.00
Cohanzick Management 5.94 48.80 12.16% 5.94
Inverdale Capital Management LLC 4.71 47.42 9.93% 4.71
VectorShares LLC 29.44 46.91 62.76% 29.44
Power Corporation of Canada 4.86 46.21 10.52% 4.86
Alger Group Holdings LLC 0.00 44.58 0.00% 0.00
Highland Capital Management -1.59 44.31 -3.58% -1.59
ETF Series Solutions 0.00 44.08 0.00% 0.00
Retireful LLC 40.31 43.46 92.75% 40.31
2nd Vote Value Investments, Inc 0.00 42.74 0.00% 0.00
Formidable Asset Management 0.04 41.57 0.09% 0.04
OBP Capital LLC 9.98 41.47 24.07% 9.98
Premise Capital 0.00 38.87 0.00% 0.00
Red Gate Advisers LLC 1.43 37.75 3.79% 1.43
Infusive Asset Management 0.00 37.62 0.00% 0.00
Valkyrie Funds LLC -28.47 37.25 -76.42% -28.47
New Age Alpha Advisors LLC 2.34 35.85 6.53% 2.34
Esoterica -2.76 35.04 -7.87% -2.76
Metaurus Advisors 0.01 32.92 0.03% 0.01
Ridgeline Research LLC 0.00 32.18 0.00% 0.00
Uncommon Investment Advisors LLC 0.54 31.83 1.71% 0.54
ASYMmetric ETFs 7.73 30.19 25.60% 7.73
AXS Investments 27.50 27.65 99.47% 27.50
AlphaMark Advisors 0.00 23.43 0.00% 0.00
Cultivar Capital, Inc. 14.34 23.39 61.32% 14.34
Knights of Columbus 0.00 23.20 0.00% 0.00
Water Island Capital Partners LP -0.30 22.22 -1.35% -0.30
Advocate Capital Management LLC 2.19 19.91 11.01% 2.19
The Leuthold Group LLC 1.58 18.17 8.68% 1.58
Mairs & Power, Inc. 0.00 18.04 0.00% 0.00
Reflection Asset Management, LLC 2.86 15.37 18.59% 2.86
Changebridge Capital LLC -0.46 14.53 -3.18% -0.46
GAMCO Investors, Inc. 0.44 14.16 3.13% 0.44
Point Bridge Capital 0.00 13.39 0.00% 0.00
Future Fund Advisors -0.43 12.84 -3.33% -0.43
Zacks Investment Management 0.00 11.39 0.00% 0.00
Applied Finance Group 1.42 10.70 13.27% 1.42
Alternative Access Funds LLC 0.00 10.01 0.00% 0.00
Counterpoint Mutual Funds LLC 0.00 9.95 0.00% 0.00
MCCM Group LLC -1.81 8.57 -21.09% -1.81
First Pacific Advisors LP 7.66 8.53 89.72% 7.66
GCI Investors, Inc. 2.68 8.02 33.48% 2.68
Cabot ETF Partners LLC -0.29 7.70 -3.81% -0.29
Whitford Asset Management 0.00 7.50 0.00% 0.00
EquBot -3.11 7.37 -42.16% -3.11
ORIX Corp. 0.00 5.62 0.00% 0.00
Global Beta Advisors 0.00 5.09 0.00% 0.00
Volt Equity LLC 1.47 4.77 30.80% 1.47
Lifegoal Investments LLC 0.25 4.76 5.23% 0.25
Spear Advisors LLC 0.52 4.58 11.39% 0.52
Jacob Asset Management -0.28 4.53 -6.23% -0.28
VegTech LLC 1.67 3.42 48.71% 1.67
Banhazl 0.00 3.27 0.00% 0.00
Lyrical Partners 0.00 3.25 0.00% 0.00
Democracy Investment Management LLC 0.00 3.11 0.02% 0.00
WealthTrust Asset Management LLC 1.92 2.96 64.77% 1.92
Truemark Group 3.10 2.87 107.76% 3.10
RBS Securities 1.00 2.75 36.29% 1.00
Kelly Strategic Management LLC 2.99 2.72 109.68% 2.99
Goose Hollow Capital Management LLC 0.61 1.84 33.37% 0.61
Kingsbarn Capital Management LLC 0.00 1.83 0.00% 0.00
Dinerbao SL 1.21 1.83 66.04% 1.21
V-Square Quantitative Management LLC 0.00 1.20 0.00% 0.00
Dalton Capital 0.00 1.13 0.00% 0.00
Big Data Federation, Inc. 0.00 1.13 0.00% 0.00
Grizzle Investment Management LLC 0.22 0.90 24.35% 0.22
Wilshire Phoenix Funds LLC -1.23 0.51 -239.71% -1.23
Inherent Wealth Fund LLC 0.24 0.45 52.51% 0.24
Amberwave Partners Research & Management LLC 0.00 0.43 0.00% 0.00
Eaton Vance Corp. 0.00 0.00 0.00% 0.00
Baird Financial Group 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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