US Equity ETFs Led July Flows To $27B

August 01, 2018

After a brief road bump in June, investors resumed putting money into ETFs in July. On net, $26.8 billion flowed into U.S.-listed ETFs during the month, pushing inflows for 2018 as a whole up to $148.5 billion, according to the latest data from FactSet.

A solid showing for the U.S. stock market in July certainly didn’t hurt. The S&P 500 jumped 3.6% month-over-month, briefly reaching within 1% of its record high as strong earnings offset continued trade jitters.

ETF investors piled in, adding $16.4 billion in fresh money to U.S. equity ETFs, including the Vanguard Value ETF (VTV), the SPDR S&P Dividend ETF (SDY) and the Health Care Select Sector SPDR Fund (XLV).

The strong inflows into U.S. equity ETFs helped that segment edge ahead of U.S. fixed-income ETFs for 2018. But the latter category remains the most consistent group, picking up $9.5 billion in fresh cash during July.

Bond prices fell and yields rose during the month. The benchmark 10-year Treasury yield climbed from 2.85% to 2.96% month-over-month, while the two-year Treasury yield rose from 2.53% to 2.68%―a 10-year high.

Still, ETFs like the iShares iBoxx USD High Yield Corporate Bond ETF (HYG), with monthly inflows of $1.6 billion, attracted interest as investors took advantage of the higher yields.

‘BBJP’ A Breakout Hit

While U.S. equity and U.S. fixed-income ETFs easily took in the most money in July, the biggest winner of the month came from another group: international equity ETFs. That asset class only had net inflows of $458 million, but contained the JPMorgan BetaBuilders Japan ETF (BBJP), which became a breakout hit in a matter of days.

BBJP’s assets under management rocketed from less than $10 million at the end of June to $1.7 billion at the end of July thanks to torrid inflows. The fund became the second-fastest ETF to reach the $1 billion threshold, an incredible feat for a relatively vanilla product.

For a full list of the top inflows and outflows for July and 2018 as a whole, see the tables below.

Contact Sumit Roy at [email protected]

 

Top Gainers (July 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 2,809.02 270,347.08 1.05% -17,972.14
BBJP JPMorgan BetaBuilders Japan ETF JPMorgan 1,715.95 1,761.12 3,799.04% 1,715.95
HYG iShares iBoxx USD High Yield Corporate Bond ETF BlackRock 1,579.99 15,711.58 11.18% -1,742.04
VTV Vanguard Value ETF Vanguard 1,530.90 41,912.69 3.79% 4,593.85
IEMG iShares Core MSCI Emerging Markets ETF BlackRock 1,185.89 48,995.43 2.48% 9,154.06
VTI Vanguard Total Stock Market ETF Vanguard 1,115.06 101,212.12 1.11% 4,398.74
SDY SPDR S&P Dividend ETF State Street Global Advisors 1,106.67 16,926.75 7.00% 422.69
SCHX Schwab U.S. Large-Cap ETF Charles Schwab 1,091.12 14,135.03 8.36% 2,080.06
EMB iShares JP Morgan USD Emerging Markets Bond ETF BlackRock 931.53 13,632.26 7.33% 2,136.53
XLV Health Care Select Sector SPDR Fund State Street Global Advisors 910.83 16,813.93 5.73% -744.57

 

Top Gainers (Year-to-Date)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM July 2018 Net Flows($,M)
IEFA iShares Core MSCI EAFE ETF BlackRock 18,070.97 58,969.03 44.19% 0.00
IEMG iShares Core MSCI Emerging Markets ETF BlackRock 9,154.06 48,995.43 22.98% 1,185.89
SHV iShares Short Treasury Bond ETF BlackRock 7,102.33 15,116.50 88.62% 176.63
VOO Vanguard S&P 500 ETF Vanguard 6,429.91 94,336.68 7.31% 639.82
VEA Vanguard FTSE Developed Markets ETF Vanguard 4,670.79 71,519.45 6.99% -85.19
VTV Vanguard Value ETF Vanguard 4,593.85 41,912.69 12.31% 1,530.90
AGG iShares Core U.S. Aggregate Bond ETF BlackRock 4,498.02 55,840.40 8.76% 710.40
VTI Vanguard Total Stock Market ETF Vanguard 4,398.74 101,212.12 4.54% 1,115.06
IJR iShares Core S&P Small Cap ETF BlackRock 4,327.34 44,647.27 10.73% 887.10
FLOT iShares Floating Rate Bond ETF BlackRock 4,021.17 10,645.23 60.71% 239.34

 

Biggest Losers (July 2018)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM YTD 2018 Net Flows($,M)
QQQ Invesco QQQ Trust Invesco -1,854.47 66,435.58 -2.72% 400.87
EFA iShares MSCI EAFE ETF BlackRock -1,374.76 73,127.87 -1.85% -10,297.03
IWM iShares Russell 2000 ETF BlackRock -1,287.55 45,937.22 -2.73% -426.49
IVV iShares Core S&P 500 ETF BlackRock -1,153.83 151,891.41 -0.75% 3,360.61
EWJ iShares MSCI Japan ETF BlackRock -1,152.81 17,711.94 -6.11% -1,073.65
IWV iShares Russell 3000 ETF BlackRock -785.60 8,775.83 -8.22% -119.31
GLD SPDR Gold Trust State Street Global Advisors -751.34 31,474.37 -2.33% -1,417.48
AMLP Alerian MLP ETF ALPS -618.86 10,091.75 -5.78% -265.19
IVE iShares S&P 500 Value ETF BlackRock -596.60 14,564.11 -3.94% -720.95
CIU iShares Intermediate Credit Bond ETF BlackRock -595.51 6,306.30 -8.63% -1,237.95

 

Biggest Losers (Year-to-Date)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM July 2018 Net Flows($,M)
SPY SPDR S&P 500 ETF Trust State Street Global Advisors -17,972.14 270,347.08 -6.23% 2,809.02
EFA iShares MSCI EAFE ETF BlackRock -10,297.03 73,127.87 -12.34% -1,374.76
EEM iShares MSCI Emerging Markets ETF BlackRock -5,482.00 31,756.92 -14.72% 0.00
EZU iShares MSCI Eurozone ETF BlackRock -4,502.68 10,570.03 -29.87% -351.16
IWD iShares Russell 1000 Value ETF BlackRock -3,996.77 37,451.03 -9.64% 307.36
LQD iShares iBoxx USD Investment Grade Corporate Bond ETF BlackRock -3,031.70 34,222.95 -8.14% 848.80
DXJ WisdomTree Japan Hedged Equity Fund WisdomTree -3,010.26 6,019.71 -33.34% -241.63
JNK SPDR Bloomberg Barclays High Yield Bond ETF State Street Global Advisors -2,479.91 9,922.37 -20.00% 358.10
HEDJ WisdomTree Europe Hedged Equity Fund WisdomTree -2,163.47 5,568.88 -27.98% -183.30
VNQ Vanguard Real Estate ETF Vanguard -1,911.49 31,653.82 -5.69% 853.50

 

Asset Classes (July 2018)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 16,391.04 2,065,565.85 0.79%
International Equity 457.71 809,700.86 0.06%
U.S. Fixed Income 9,434.97 561,381.33 1.68%
International Fixed Income 1,242.80 63,789.84 1.95%
Commodities  -1,225.63 63,072.67 -1.94%
Currency -67.78 1,156.48 -5.86%
Leveraged 427.74 37,154.55 1.15%
Inverse -155.88 12,794.75 -1.22%
Asset Allocation 65.89 9,399.14 0.70%
Alternatives 203.46 4,483.89 4.54%
Total: 26,774.32 3,628,499.35 0.74%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 52,833.21 2,065,565.85 2.56%
International Equity 31,726.34 809,700.86 3.97%
U.S. Fixed Income 49,821.68 561,381.33 8.87%
International Fixed Income 7,176.74 63,789.84 11.25%
Commodities  848.46 63,072.67 1.35%
Currency -40.49 1,156.48 -3.50%
Leveraged 3,039.29 37,154.55 8.18%
Inverse 2,317.98 12,794.75 18.12%
Asset Allocation 618.32 9,399.14 6.58%
Alternatives 169.35 4,483.89 3.78%
Total: 148,508.46 3,628,499.35 4.10%

 

July 2018 League Table

Issuer Net Flows ($,M) AUM ($,M) % of AUM YTD 2018 Net Flows($,M)
BlackRock 3,280.13 1,408,211.32 0.23% 46,877.20
Vanguard 6,913.08 910,926.11 0.76% 44,745.58
State Street Global Advisors 8,613.33 634,185.80 1.36% -3,807.38
Invesco -1,115.57 190,128.43 -0.59% 3,418.48
Charles Schwab 2,765.59 119,779.60 2.31% 18,701.36
First Trust 1,681.71 69,214.60 2.43% 9,455.73
WisdomTree -569.55 42,152.80 -1.35% -3,893.04
VanEck 743.59 35,539.00 2.09% 2,711.05
ProShares 292.59 30,860.35 0.95% 2,689.06
Northern Trust -233.47 16,727.27 -1.40% 642.22
PIMCO 441.60 16,695.85 2.64% 2,024.71
ALPS -572.32 14,453.72 -3.96% -114.95
Direxion -121.93 13,135.79 -0.93% 571.24
Deutsche Bank -27.20 12,608.74 -0.22% -732.55
Fidelity 317.07 11,694.28 2.71% 2,351.43
JPMorgan 2,453.38 10,964.25 22.38% 4,556.90
Mirae Asset Global Investments -7.15 10,501.97 -0.07% 2,313.37
Goldman Sachs 350.30 8,761.62 4.00% 2,211.41
UBS 48.33 7,194.13 0.67% -57.71
Barclays Bank PLC 9.64 5,714.21 0.17% 2,014.17
Exchange Traded Concepts -25.45 5,484.04 -0.46% 606.28
IndexIQ -67.30 4,252.57 -1.58% 731.68
Credit Suisse 136.91 4,237.38 3.23% -47.72
The Principal Financial Group -9.75 3,503.98 -0.28% 1,250.48
OppenheimerFunds 484.12 3,295.65 14.69% 722.73
US Commodity Funds 102.14 3,166.27 3.23% -759.02
Victory Capital Management 86.55 3,045.08 2.84% 732.29
ETF Managers Group 105.13 2,901.77 3.62% 1,046.03
Pacer Financial 177.64 2,641.15 6.73% 985.32
ARK 197.00 2,266.31 8.69% 1,293.51
ETF Securities 21.33 2,099.73 1.02% -275.51
KraneShares -7.01 1,963.35 -0.36% 579.36
Franklin Templeton Investments -13.62 1,416.23 -0.96% 405.44
John Hancock 54.60 1,373.80 3.97% 249.21
USAA Asset Management 27.46 1,103.79 2.49% 770.89
Northern Lights 34.14 1,048.71 3.26% 247.44
Hartford 93.95 1,045.73 8.98% 685.80
Virtus -39.53 1,022.65 -3.87% 49.09
Columbia -45.53 1,004.26 -4.53% -230.06
Millington Securities Inc -24.86 915.35 -2.72% -67.74
AdvisorShares -39.81 845.72 -4.71% -30.25
Transamerica 2.92 811.04 0.36% -56.62
CitiGroup -16.89 734.22 -2.30% 114.23
Cambria -20.48 705.13 -2.90% 22.14
Innovator Capital Management -6.04 702.78 -0.86% 194.89
Amplify 46.45 701.89 6.62% 465.85
OSI ETF Trust -28.91 653.61 -4.42% -59.60
Janus Henderson 50.47 624.82 8.08% 339.81
Nuveen 89.12 584.61 15.24% 165.43
Davis 30.92 572.75 5.40% 199.47
Highland Capital Management -38.19 563.91 -6.77% 0.12
Alpha Architect 5.83 491.83 1.19% 162.59
Nationwide Fund Advisors -5.50 375.64 -1.46% 10.73
GraniteShares 30.02 323.88 9.27% 307.64
Reality Shares 5.35 259.16 2.07% 164.20
Strategy Shares 131.16 249.02 52.67% 163.93
Arrow Investment Advisors 5.72 182.79 3.13% 15.30
Montage Managers 15.24 173.88 8.77% 46.78
Aberdeen Asset Management -40.68 155.06 -26.24% 75.12
Aptus Capital Advisors 4.66 143.65 3.24% 79.41
Merk 0.10 138.99 0.07% 10.75
ClearShares 25.00 138.62 18.04% 25.00
BMO -23.38 129.32 -18.08% -13.64
The RBB Fund 6.30 122.60 5.14% 114.18
US Global Investors -1.56 109.86 -1.42% 0.75
TrimTabs Asset Management 10.13 108.58 9.33% 57.17
EntrepreneurShares, LLC 0.00 74.52 0.00% 11.77
Exponential ETFs 1.63 66.05 2.47% 12.56
OBP Capital LLC -1.22 53.57 -2.27% 3.80
Natixis 0.00 42.32 0.00% 4.72
Point Bridge Capital -0.69 39.54 -1.75% 5.09
PGIM Investments 3.75 37.58 9.99% 12.51
Premise Capital 1.49 33.37 4.47% 13.54
AlphaMark Advisors 0.00 27.39 0.00% 0.00
Validea Capital Management -1.45 26.34 -5.49% 0.03
FQF Trust 0.23 23.35 0.97% -3.40
Morgan Stanley -8.50 21.98 -38.67% -8.50
Diamond Hill 0.00 21.55 0.00% 1.52
Renaissance Capital 0.00 21.42 0.00% 0.00
Metaurus Advisors -0.00 19.29 -0.00% 13.45
American Century 0.00 19.27 0.00% 18.60
Active Weighting Advisors 0.56 16.34 3.40% 1.19
Advisors Asset Management 2.72 14.66 18.55% 9.30
Sage Advisory Services 0.00 14.54 0.00% 4.84
USCF Advisers -1.06 12.96 -8.17% 1.19
CSOP 0.00 11.18 0.00% 2.79
StrongVest 0.00 8.66 0.00% 0.00
Cboe Vest Financial 0.00 8.32 0.00% 8.03
SL Advisors 1.30 7.94 16.31% 3.87
TriLine Index Solutions 0.00 6.68 0.00% 6.25
Regents Park Funds 1.22 6.07 20.02% 3.71
Little Harbor Advisors 0.00 5.71 0.00% 5.64
SerenityShares 0.00 4.27 0.00% 0.00
Change Finance 0.00 3.91 0.00% 0.96
Salt Financial 0.62 3.09 20.01% 3.12
Impact Shares 2.10 2.10 99.95% 2.10
Whitford Asset Management -2.53 0.64 -396.55% -1.91
Swedish Export Credit 0.00 0.00 0.00% 0.00
Legg Mason -14.89 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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