Monster Month For ETF Inflows: $48B

August 03, 2020

ETF demand in July was as hot as the summer heatwave that hovered over much of the country last month, with more than $48 billion in new assets flowing into U.S.-listed ETFs.

The monster month of inflows has lifted the year-to-date tally to $252 billion, well ahead of last year’s $153 billion at this time. The yearly record of $452 billion of new assets was set in 2017, and by the end of July 2017, $274 billion had been registered. So this year could potentially top that if strong months of flows persist like July just saw. Total assets in U.S.-listed ETFs stand at $4.6 trillion.

Last month was a rare occurrence, in that equity ETFs, which usually lead the inflows chart, was fourth in asset classes, with $3.9 billion. U.S. fixed income led all asset classes, attracting $25.4 billion, followed by commodities at $7.8 billion and international equity with $7.3 billion.

Golden Glow

The physically backed SPDR Gold Trust (GLD) led July inflows, with $3.7 billion, bringing its year-to-date total to $19.2 billion. Its competitor, the iShares Gold Trust (IAU), held down the sixth spot, with $2.2 billion, as investors rode a gold rally that saw spot gold prices set a new record of nearly $2,000/oz.

A declining dollar in the face of Treasury yields seemingly destined only to fall with Federal Reserve committed to rate increase in the immediate future has sent investors to the usual safe havens of gold and bonds. 

The iShares Core U.S. Aggregate Bond ETF (AGG) attracted the second highest assets in July, with $3.47 billion added to it. The fund now stands at nearly $80 billion AUM. The Vanguard Total Bond Market ETF (BND) saw $2.1 billion in inflows. Tried and true vanilla bond funds were not the only benefactors of the flight to safety. The high yield funds iShares iBoxx USD High Yield Corporate Bond ETF (HYG) and SPDR Bloomberg Barclays High Yield Bond ETF (JNK) took in $2.77 billion and $2.15 billion, respectively.

The only equity ETF on the top of the inflows chart was the Vanguard Total Stock Market ETF (VTI), with $1.8 billion.

Some Bond ETFs, Not So Much

Not all bond ETFs saw investor demand. Treasury bond ETFs, and short-term bond ETFs in particular, which are more susceptible to falling yields, populated the redemption list. The SPDR Bloomberg Barclays 1-3 Month T-bill ETF (BIL) saw $1.5 billion in outflows, and the iShares Short Treasury Bond ETF (SHV) lost $1.4 billion in assets.

Other Treasury bond ETFs also bled assets. The iShares 7-10 year Treasury Bond ETF (IEF) topped the outflows chart, seeing $1.73 billion, and the iShares 1-3 Year Treasury Bond ETF (SHY) tallied $787.6 million in redemptions.

The two world’s largest ETFs, both equities, also saw outflows, as investors grew cautious about stocks that continue to post new all-time highs. The SPDR S&P 500 ETF Trust (SPY), with $287 billion in AUM, saw $872 million in outflows, and the Vanguard S&P 500 ETF (VOO), which has $153 billion in AUM, lost $1.39 billion in assets.

Year to date, U.S. fixed income has pulled away from U.S. equity in total new assets, with $117.6 billion versus $75.5 billion. While last year was the first year U.S. fixed income took in more in new assets than U.S. equity, it was a neck-and-neck horse race all year. This year, if the trend holds, should be an easy victory for U.S. fixed income.

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

Top Gainers (July 2020)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM YTD 2020 Net Flows($,M)
GLD SPDR Gold Trust State Street Global Advisors 3,725.74 78,145.91 4.77% 19,217.15
AGG iShares Core U.S. Aggregate Bond ETF Blackrock 3,478.30 79,949.82 4.35% 6,337.43
HYG iShares iBoxx USD High Yield Corporate Bond ETF Blackrock 2,772.58 30,695.21 9.03% 11,400.67
BND Vanguard Total Bond Market ETF Vanguard 2,180.65 58,978.10 3.70% 7,225.73
JNK SPDR Bloomberg Barclays High Yield Bond ETF State Street Global Advisors 2,159.37 13,160.89 16.41% 1,491.93
IAU iShares Gold Trust Blackrock 2,122.87 30,922.87 6.87% 7,313.41
LQD iShares iBoxx USD Investment Grade Corporate Bond ETF Blackrock 1,964.77 57,772.14 3.40% 17,541.00
VTI Vanguard Total Stock Market ETF Vanguard 1,816.26 152,325.18 1.19% 12,496.89
BNDX Vanguard Total International Bond ETF Vanguard 1,634.39 29,836.17 5.48% 4,715.63
SLV iShares Silver Trust Blackrock 1,426.87 13,153.39 10.85% 3,543.66

 

Top Gainers (Year-to-Date)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM July 2020 Net Flows($,M)
VOO Vanguard S&P 500 ETF Vanguard 21,161.84 153,657.80 13.77% -1,389.46
GLD SPDR Gold Trust State Street Global Advisors 19,217.15 78,145.91 24.59% 3,725.74
LQD iShares iBoxx USD Investment Grade Corporate Bond ETF Blackrock 17,541.00 57,772.14 30.36% 1,964.77
VTI Vanguard Total Stock Market ETF Vanguard 12,496.89 152,325.18 8.20% 1,816.26
QQQ Invesco QQQ Trust Invesco 11,854.12 122,403.75 9.68% 1,366.91
HYG iShares iBoxx USD High Yield Corporate Bond ETF Blackrock 11,400.67 30,695.21 37.14% 2,772.58
VCIT Vanguard Intermediate-Term Corporate Bond ETF Vanguard 10,266.58 37,799.73 27.16% 1,197.93
IAU iShares Gold Trust Blackrock 7,313.41 30,922.87 23.65% 2,122.87
BND Vanguard Total Bond Market ETF Vanguard 7,225.73 58,978.10 12.25% 2,180.65
AGG iShares Core U.S. Aggregate Bond ETF Blackrock 6,337.43 79,949.82 7.93% 3,478.30

 

Biggest Losers (July 2020)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM YTD 2020 Net Flows($,M)
IEF iShares 7-10 Year Treasury Bond ETF Blackrock -1,737.61 20,202.07 -8.60% 432.63
XLRE Real Estate Select Sector SPDR Fund State Street Global Advisors -1,603.81 2,480.53 -64.66% -875.97
BIL SPDR Bloomberg Barclays 1-3 Month T-Bill ETF State Street Global Advisors -1,491.98 14,617.52 -10.21% 5,776.51
SHV iShares Short Treasury Bond ETF Blackrock -1,406.25 21,549.28 -6.53% 736.68
VOO Vanguard S&P 500 ETF Vanguard -1,389.46 153,657.80 -0.90% 21,161.84
USMV iShares Edge MSCI Min Vol U.S.A. ETF Blackrock -888.50 34,470.20 -2.58% -1,085.75
SPY SPDR S&P 500 ETF Trust State Street Global Advisors -872.57 286,811.72 -0.30% -22,880.41
SHY iShares 1-3 Year Treasury Bond ETF Blackrock -787.62 21,883.67 -3.60% 3,759.73
SPTI SPDR Portfolio Intermediate Term Treasury ETF State Street Global Advisors -771.05 3,303.02 -23.34% 2,137.60
XLB Materials Select Sector SPDR Fund State Street Global Advisors -738.24 3,369.38 -21.91% -281.59

 

Biggest Losers (Year-to-Date)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM July 2020 Net Flows($,M)
SPY SPDR S&P 500 ETF Trust State Street Global Advisors -22,880.41 286,811.72 -7.98% -872.57
EFA iShares MSCI EAFE ETF Blackrock -10,094.18 47,060.07 -21.45% 0.00
IEMG iShares Core MSCI Emerging Markets ETF Blackrock -5,481.18 53,475.02 -10.25% -577.51
EEM iShares MSCI Emerging Markets ETF Blackrock -4,604.52 23,959.85 -19.22% 0.00
IJH iShares Core S&P Mid-Cap ETF Blackrock -4,017.95 44,113.84 -9.11% -370.17
VWO Vanguard FTSE Emerging Markets ETF Vanguard -3,889.80 60,776.46 -6.40% -291.48
IWM iShares Russell 2000 ETF Blackrock -3,795.02 39,221.52 -9.68% 1,113.66
FLOT iShares Floating Rate Bond ETF Blackrock -3,786.51 5,862.80 -64.59% -50.57
EWJ iShares MSCI Japan ETF Blackrock -3,424.58 9,748.81 -35.13% 0.00
GOVT iShares U.S. Treasury Bond ETF Blackrock -2,619.14 14,403.33 -18.18% 76.01

 

Asset Classes (July 2020)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 3,911.59 2,558,195.93 0.15%
International Equity 7,289.90 835,592.62 0.87%
U.S. Fixed Income 25,418.25 911,538.42 2.79%
International Fixed Income 4,240.55 98,087.02 4.32%
Commodities 7,812.22 145,641.44 5.36%
Currency 160.74 1,747.32 9.20%
Leveraged -1,994.74 35,677.40 -5.59%
Inverse 1,184.24 15,147.95 7.82%
Asset Allocation 240.25 10,526.64 2.28%
Alternatives 449.25 4,799.42 9.36%
Total: 48,712.26 4,616,954.16 1.06%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 72,562.21 2,558,195.93 2.84%
International Equity -3,179.78 835,592.62 -0.38%
U.S. Fixed Income 117,681.28 911,538.42 12.91%
International Fixed Income 8,166.40 98,087.02 8.33%
Commodities 41,009.65 145,641.44 28.16%
Currency 421.14 1,747.32 24.10%
Leveraged 2,909.56 35,677.40 8.16%
Inverse 12,838.65 15,147.95 84.76%
Asset Allocation 624.90 10,526.64 5.94%
Alternatives -761.67 4,799.42 -15.87%
Total: 252,272.33 4,616,954.16 5.46%

 

July 2020 ETF Issuer League Table

Issuer Net Flows ($,M) AUM ($,M) % of AUM YTD 2020 Net Flows($,M)
Blackrock 18,403.88 1,742,457.49 1.06% 58,455.64
Vanguard 11,497.74 1,238,540.99 0.93% 99,992.39
State Street Global Advisors 6,255.49 748,271.23 0.84% 29,048.07
Invesco 2,766.23 240,974.35 1.15% 4,056.14
Charles Schwab 1,189.22 164,249.82 0.72% 5,823.85
First Trust 1,184.41 91,424.97 1.30% 5,697.20
VanEck 508.78 48,442.45 1.05% -99.12
ProShares 1,642.22 43,168.28 3.80% 14,963.52
JPMorgan Chase 665.95 37,888.04 1.76% 8,372.78
WisdomTree 114.77 32,534.89 0.35% -2,539.68
Allianz 349.39 23,355.62 1.50% 1,238.78
FMR LLC 67.07 18,582.55 0.36% 1,788.23
Goldman Sachs 348.72 17,946.63 1.94% 644.87
Deutsche Bank 1,121.63 16,635.47 6.74% 858.07
Direxion -1,143.37 16,465.11 -6.94% 6,987.29
Northern Trust 54.25 13,247.73 0.41% -1,475.85
Mirae Asset 529.96 12,912.63 4.10% 1,624.34
ARK 1,557.58 10,524.42 14.80% 4,399.65
Franklin Templeton 14.10 6,438.52 0.22% 2,176.09
SS&C -137.99 6,115.95 -2.26% -1,547.11
Aberdeen Standard Investments 379.65 5,458.15 6.96% 1,433.94
US Commodity Funds -848.09 5,422.15 -15.64% 5,859.02
Pacer Advisors -103.46 5,315.33 -1.95% 200.97
Victory Capital -20.20 4,691.51 -0.43% -270.11
John Hancock -51.22 4,274.59 -1.20% -123.58
CICC 563.08 4,128.88 13.64% 646.54
ETFMG 98.17 3,928.52 2.50% 189.92
The Hartford -45.66 3,443.89 -1.33% -356.30
Exchange Traded Concepts 128.84 3,377.65 3.81% 496.19
Innovator -26.41 3,345.95 -0.79% 1,028.54
Principal -126.96 3,320.51 -3.82% 75.41
New York Life 30.89 3,226.96 0.96% -46.34
Janus Henderson 246.26 2,687.46 9.16% 1,211.92
American Century Investments 143.45 2,349.37 6.11% 1,165.46
Barclays Capital Inc. 276.42 2,133.58 12.96% -1,767.43
Nuveen Securities 56.89 1,868.10 3.05% 832.81
Amplify 201.05 1,640.05 12.26% 646.66
GraniteShares 155.01 1,404.47 11.04% 489.41
US Global Investors 71.45 1,298.29 5.50% 1,197.30
Vident -7.40 1,263.59 -0.59% -229.13
Legg Mason -11.24 1,193.18 -0.94% -184.29
Toroso Investments 63.71 1,117.01 5.70% 569.50
Prudential 41.82 1,086.38 3.85% 205.78
UBS -43.96 1,023.80 -4.29% -2,702.51
O’Shares Investments 67.98 979.79 6.94% 201.23
BMO 10.96 975.18 1.12% 201.51
Davis Advisers 2.87 874.22 0.33% 150.46
AdvisorShares 26.67 855.15 3.12% 242.22
Columbia Management Investment Advisers, LLC 21.58 775.86 2.78% 103.75
Cambria 55.96 734.78 7.62% 148.29
Transamerica Funds 0.01 722.90 0.00% -26.54
Aptus Capital Advisors 36.13 705.78 5.12% 226.06
Main Management -0.00 570.33 -0.00% 23.06
Inspire 80.77 551.91 14.64% 89.88
Virtus Investment Partners -4.69 541.80 -0.87% -211.64
Credit Suisse -21.76 505.79 -4.30% -1,527.26
EMPIRICAL FINANCE LLC 15.95 461.00 3.46% 36.19
Defiance ETFs 39.16 448.23 8.74% 223.43
Nationwide 34.33 447.71 7.67% 51.10
Sprott, Inc. 21.62 398.58 5.42% 40.38
FormulaFolios -16.83 397.18 -4.24% -12.12
The Motley Fool 5.97 373.84 1.60% 41.54
Merk 38.60 368.23 10.48% 110.46
WBI -22.68 363.88 -6.23% -79.36
Tortoise 7.45 336.63 2.21% -45.00
Timothy Plan 1.23 328.23 0.37% 90.06
The Bank of New York Mellon 31.57 303.88 10.39% 65.42
Regents Park Funds 6.23 276.79 2.25% 180.55
AGF 33.59 243.99 13.77% 101.34
Liquid Strategies 0.65 233.96 0.28% 115.12
ClearShares 5.01 230.05 2.18% 27.83
Teucrium 5.63 210.05 2.68% 63.31
Howard Capital Management 2.90 209.38 1.39% 77.08
Citigroup Inc 0.80 186.87 0.43% 3.23
EntrepreneurShares, LLC 7.03 161.48 4.35% 27.45
Reality Shares 9.66 160.69 6.01% -17.12
Swedish Export Credit -6.20 159.53 -3.88% -56.20
Distillate Capital 22.21 149.15 14.89% 81.36
Intangible Capital 0.02 146.55 0.01% 1.33
Redwood Investment Management -61.58 139.00 -44.30% 32.48
Rafferty Asset Management 31.00 137.38 22.56% 42.26
Core Alternative Capital 2.75 131.08 2.10% 21.40
Tuttle Tactical Management, LLC -1.28 130.14 -0.98% 111.73
TrimTabs -1.97 120.46 -1.63% -17.15
Roundhill Investments -1.80 120.16 -1.49% 102.40
Pacific Life 1.09 109.82 0.99% 6.05
Arrow Funds 0.00 108.11 0.00% -7.05
Renaissance Capital 15.30 100.40 15.24% 40.62
OBP Capital LLC 1.80 86.55 2.07% 20.43
Donald L. Hagan LLC 6.16 80.85 7.62% 73.05
Highland Capital Management -3.25 74.77 -4.35% -191.52
Strategy Shares 16.18 72.94 22.18% 43.88
Exponential ETFs -0.21 70.24 -0.30% 2.63
Gadsden 2.72 69.23 3.93% 12.89
Cboe Vest Financial LLC 2.07 58.80 3.52% 9.83
Premise Capital -4.66 55.63 -8.37% 17.96
Natixis 2.59 51.64 5.01% 4.68
Syntax Advisors 0.00 50.68 0.00% -27.62
Toews Corp. 1.26 47.86 2.63% 41.44
Metaurus Advisors -0.01 47.50 -0.02% -0.00
Wahed Invest LLC 1.41 40.81 3.45% 15.46
iM Global Partner 9.45 38.74 24.40% 4.62
AAM Holdings Inc. 1.12 33.46 3.34% -5.34
Absolute Investment Advisers LLC 0.00 30.20 0.00% 29.40
Belpointe Asset Management, LLC -2.36 29.99 -7.87% -19.49
Little Harbor Advisors -4.21 28.42 -14.80% 29.54
Pettee Investors 3.48 24.37 14.29% 15.13
ProcureAM 2.59 24.09 10.77% 14.29
TrueMark Investments, LLC 7.62 22.62 33.70% 19.93
Beyond Investing 0.71 22.26 3.21% 9.51
EventShares -2.40 21.10 -11.39% 1.73
Change Finance 0.00 19.51 0.00% 5.42
AlphaMark Advisors 0.00 19.02 0.00% 0.00
Sage 0.00 18.41 0.00% 0.00
Impact Shares 0.61 17.78 3.42% 5.10
ETF Series Solutions 0.52 17.31 3.02% 4.26
Salt Financial -3.19 16.66 -19.16% -6.89
UP Fintech Holding 0.00 15.37 0.00% 3.00
Counterpoint Mutual Funds LLC 0.00 12.38 0.00% 12.90
The Leuthold Group LLC 3.23 9.82 32.91% 9.41
Point Bridge Capital 0.00 8.83 0.00% -4.13
Esoterica Capital LLC 0.94 8.03 11.75% 0.94
Global Beta Advisors 0.00 6.54 0.00% -0.31
EquBot 1.31 5.48 23.90% 1.56
Barclays 0.10 5.18 1.93% 1.44
Water Island Capital Partners LP -0.00 5.18 -0.02% 2.47
Precidian Investments LLC -0.00 2.76 -0.01% -0.00
Nordea Investment Funds SA 2.50 2.61 95.87% 2.50
Whitford Asset Management -0.81 2.40 -33.62% -1.03
Guinness Atkinson Asset Management 0.00 2.22 0.00% -0.60
RBS Securities -1.00 2.09 -48.19% -2.09

 

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.

Find your next ETF

Reset All