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.
