2022 on Track to Be Second-Best Year for ETF Inflows

August 04, 2022

Stocks and bonds finally caught a break in July. After months of relentless selling, both asset classes caught a bid amid hopes that inflation may be peaking and the Federal Reserve may slow the pace of interest rate hikes in the coming months. 

Those hopes translated into a strong level of inflows for ETFs. On net, $39.1 billion flowed into U.S.-listed ETFs during the month of July, most of which went into U.S. stock and bond ETFs.  

And $10 billion went into U.S. equity ETFs, while $27.9 billion went into U.S. bond ETFs, pushing overall year-to-date inflows for U.S.-listed ETFs to $342.8 billion. Combined with the rise in asset price, AUM climbed to $6.55 trillion. 

Those numbers compare with $520.3 billion and $6.6 trillion, respectively, for the same period in 2021.  

Second-Best Year for Inflows  

This year’s solid ETF inflows in the face of a bear market for both equities and fixed income are remarkable. As FactSet Director of ETF Research Elisabeth Kashner wrote last week, 2022 inflows are on track to exceed all annual inflows records, with the exception of 2021. 

“First half 2022 flows of $332 billion exceed full-year levels for every year from 1993-2016, nearly match full-year 2018 and 2019 flows, and equal 64% of full-year 2020 flows. While global investors offload stocks and bonds, ETF customers have been buyers,” she noted. “ETF inflows have likely come from long-term investors, also known as the buy-and-hold crowd. Tactical investors have shifted their attention to bond ETFs. The fear-of-missing-out (FOMO) buyers made their presence known by crowding into 3x leveraged ETFs—and paid dearly.” 

Inflows for Broad Market Stock ETFs  

July’s ETF inflows reflect Kashner’s observation that the majority of money entering ETFs this year is coming from long-term investors. 

The top asset gatherers during the month included the Vanguard S&P 500 ETF (VOO) and the iShares Core S&P 500 ETF (IVV)

On the fixed income side, the iShares U.S. Treasury Bond ETF (GOVT) and the iShares 20+ Year Treasury Bond ETF (TLT) each pulled in more than $3.7 billion in July. 

At the same time, a pullback in commodity prices led investors to take money out of those funds. The SPDR Gold Trust (GLD) shed $2.5 billion in assets, while the commodity ETF category as a whole had outflows of $6.3 billion during July. 

 

For a full list of the top inflows and outflows for July and 2022 as a whole, see the tables below:  

 

Top Gainers (July 2022)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM YTD 2022 Net Flows($,M)
GOVT iShares U.S. Treasury Bond ETF Blackrock 4,797.71 23,075.49 20.79% 8,157.95
TLT iShares 20+ Year Treasury Bond ETF Blackrock 3,782.23 24,520.91 15.42% 8,922.48
VOO Vanguard S&P 500 ETF Vanguard 3,772.21 267,498.06 1.41% 29,281.98
LQD iShares iBoxx USD Investment Grade Corporate Bond ETF Blackrock 3,137.28 35,246.43 8.90% 1,527.18
IVV iShares Core S&P 500 ETF Blackrock 2,251.01 301,981.20 0.75% 15,814.63
TLH iShares 10-20 Year Treasury Bond ETF Blackrock 2,215.13 4,675.28 47.38% 3,471.17
IJR iShares Core S&P Small-Cap ETF Blackrock 2,093.82 67,548.25 3.10% 1,124.31
HYG iShares iBoxx USD High Yield Corporate Bond ETF Blackrock 1,861.40 15,040.39 12.38% -4,531.40
VTI Vanguard Total Stock Market ETF Vanguard 1,748.40 265,643.28 0.66% 14,304.61
JNK SPDR Bloomberg High Yield Bond ETF State Street Global Advisors 1,711.84 8,017.68 21.35% -606.61

 

Top Gainers (Year-to-Date)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM July 2022 Net Flows($,M)
VOO Vanguard S&P 500 ETF Vanguard 29,281.98 267,498.06 10.95% 3,772.21
IVV iShares Core S&P 500 ETF Blackrock 15,814.63 301,981.20 5.24% 2,251.01
VTI Vanguard Total Stock Market ETF Vanguard 14,304.61 265,643.28 5.38% 1,748.40
VTV Vanguard Value ETF Vanguard 13,033.73 99,047.07 13.16% 210.49
TLT iShares 20+ Year Treasury Bond ETF Blackrock 8,922.48 24,520.91 36.39% 3,782.23
TQQQ ProShares UltraPro QQQ ProShares 8,777.66 13,483.58 65.10% -219.33
SCHD Schwab U.S. Dividend Equity ETF Charles Schwab 8,305.50 36,463.39 22.78% 984.86
GOVT iShares U.S. Treasury Bond ETF Blackrock 8,157.95 23,075.49 35.35% 4,797.71
BND Vanguard Total Bond Market ETF Vanguard 6,985.53 83,025.38 8.41% 721.54
SHV iShares Short Treasury Bond ETF Blackrock 6,931.67 19,973.57 34.70% -1,722.63

 

Biggest Losers (July 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 -4,882.59 367,916.68 -1.33% -24,570.34
IWM iShares Russell 2000 ETF Blackrock -3,108.81 53,208.76 -5.84% -5,117.01
GLD SPDR Gold Trust State Street Global Advisors -2,498.20 56,690.40 -4.41% 2,220.01
BIL SPDR Bloomberg 1-3 Month T-Bill ETF State Street Global Advisors -2,271.55 18,761.90 -12.11% 5,169.95
SHV iShares Short Treasury Bond ETF Blackrock -1,722.63 19,973.57 -8.62% 6,931.67
IJS iShares S&P Small-Cap 600 Value ETF Blackrock -1,687.42 7,346.68 -22.97% -708.55
SLV iShares Silver Trust Blackrock -1,062.94 9,343.92 -11.38% -684.93
TIP iShares TIPS Bond ETF Blackrock -1,042.25 30,547.87 -3.41% -4,922.07
XLF Financial Select Sector SPDR Fund State Street Global Advisors -1,022.67 29,779.27 -3.43% -8,274.45
XLI Industrial Select Sector SPDR Fund State Street Global Advisors -874.10 12,791.28 -6.83% -2,694.31

 

Biggest Losers (Year-to-Date)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM July 2022 Net Flows($,M)
SPY SPDR S&P 500 ETF Trust State Street Global Advisors -24,570.34 367,916.68 -6.68% -4,882.59
XLF Financial Select Sector SPDR Fund State Street Global Advisors -8,274.45 29,779.27 -27.79% -1,022.67
VLUE iShares MSCI USA Value Factor ETF Blackrock -5,243.25 9,121.23 -57.48% -355.87
IWM iShares Russell 2000 ETF Blackrock -5,117.01 53,208.76 -9.62% -3,108.81
TIP iShares TIPS Bond ETF Blackrock -4,922.07 30,547.87 -16.11% -1,042.25
HYG iShares iBoxx USD High Yield Corporate Bond ETF Blackrock -4,531.40 15,040.39 -30.13% 1,861.40
SCHP Schwab U.S. TIPS ETF Charles Schwab -3,260.04 16,240.97 -20.07% -4.38
XLY Consumer Discretionary Select Sector SPDR Fund State Street Global Advisors -2,871.28 15,149.62 -18.95% -739.79
XLI Industrial Select Sector SPDR Fund State Street Global Advisors -2,694.31 12,791.28 -21.06% -874.10
VGK Vanguard FTSE Europe ETF Vanguard -2,428.48 15,572.69 -15.59% -174.72

 

Asset Classes (July 2022)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 10,045.35 3,898,579.04 0.26%
International Equity 3,637.03 1,141,688.89 0.32%
U.S. Fixed Income 27,938.69 1,117,990.06 2.50%
International Fixed Income 296.23 140,084.24 0.21%
Commodities -6,309.62 143,277.84 -4.40%
Currency 447.61 4,256.94 10.51%
Leveraged 233.89 51,589.73 0.45%
Inverse 2,757.80 22,420.89 12.30%
Asset Allocation -313.88 17,438.50 -1.80%
Alternatives 385.48 7,944.93 4.85%
Total: 39,118.59 6,545,271.06 0.60%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 139,864.48 3,898,579.04 3.59%
International Equity 67,758.67 1,141,688.89 5.93%
U.S. Fixed Income 90,201.18 1,117,990.06 8.07%
International Fixed Income 4,298.21 140,084.24 3.07%
Commodities 8,612.11 143,277.84 6.01%
Currency 1,685.68 4,256.94 39.60%
Leveraged 18,546.61 51,589.73 35.95%
Inverse 10,022.28 22,420.89 44.70%
Asset Allocation 460.22 17,438.50 2.64%
Alternatives 1,327.86 7,944.93 16.71%
Total: 342,777.31 6,545,271.06 5.24%

 

July 2022 ETF Issuer League Table

Issuer Net Flows ($,M) AUM ($,M) % of AUM YTD 2022 Net Flows($,M)
Blackrock 15,012.62 2,220,856.00 0.68% 86,852.46
Vanguard 12,091.53 1,905,740.08 0.63% 115,606.86
State Street Global Advisors -4,198.50 985,118.55 -0.43% 1,867.52
Invesco 3,501.08 359,493.68 0.97% 18,273.11
Charles Schwab 4,014.42 254,042.99 1.58% 19,694.54
First Trust -213.51 134,307.86 -0.16% 5,285.43
JPMorgan Chase 2,430.09 83,637.82 2.91% 11,324.77
ProShares 2,578.00 62,363.46 4.13% 20,319.76
VanEck -380.11 52,418.40 -0.73% 2,226.74
WisdomTree 1,155.60 49,663.25 2.33% 7,484.16
Dimensional Holdings 1,369.80 48,924.98 2.80% 9,894.45
Mirae Asset Global Investments Co., Ltd. 86.74 38,818.02 0.22% 3,186.20
Fidelity 289.52 31,147.35 0.93% 1,656.48
Goldman Sachs 223.22 25,153.22 0.89% 2,192.72
PIMCO 113.85 23,733.39 0.48% -1,703.61
Direxion 182.65 23,480.90 0.78% 7,957.17
Northern Trust -276.20 21,048.95 -1.31% 2,454.72
DWS 4.80 19,817.42 0.02% -1,259.14
ARK 416.27 16,681.47 2.50% 440.32
Pacer Advisors 514.47 15,397.58 3.34% 6,762.97
American Century Investments 397.80 13,228.50 3.01% 4,829.94
CICC -216.51 12,069.75 -1.79% 1,688.16
SS&C 81.73 11,038.68 0.74% 559.92
Franklin Templeton -373.85 8,600.20 -4.35% -163.52
Innovator 383.17 8,071.39 4.75% 2,614.23
Victory Capital 83.35 7,870.96 1.06% 1,198.96
Nuveen Securities 56.46 7,658.31 0.74% 749.82
Abrdn Plc -271.28 7,040.21 -3.85% 786.50
Janus Henderson 93.79 5,420.61 1.73% 1,206.76
Exchange Traded Concepts -89.72 5,273.93 -1.70% -390.32
John Hancock 91.70 5,048.51 1.82% 365.20
ETFMG -47.85 4,293.89 -1.11% -248.47
New York Life -26.80 3,959.85 -0.68% -278.77
The Hartford 2.40 3,800.24 0.06% 86.64
Marygold Cos, Inc. -541.95 3,754.34 -14.44% -1,446.42
Amplify Investments 66.26 3,520.85 1.88% 357.25
Principal -19.54 3,507.08 -0.56% -886.59
BMO 81.44 3,004.90 2.71% 930.64
Toroso Investments -10.34 2,886.43 -0.36% 442.02
Barclays Capital Inc. -77.51 2,806.59 -2.76% -847.99
US Global Investors -110.23 2,587.58 -4.26% -67.46
The Capital Group Companies 299.88 2,312.02 12.97% 2,375.16
Aptus Capital Advisors -11.31 2,002.25 -0.56% 281.18
AdvisorShares 53.47 1,595.67 3.35% 122.56
Cambria 30.35 1,552.85 1.95% 544.88
GraniteShares -49.98 1,463.99 -3.41% 98.59
Strategy Shares -6.33 1,457.21 -0.43% 163.94
Virtus Investment Partners 9.79 1,409.91 0.69% 26.85
Columbia Management Investment Advisers, LLC -15.27 1,386.65 -1.10% -224.71
Simplify Asset Management Inc. -5.70 1,357.01 -0.42% 464.98
Vident -14.37 1,324.59 -1.08% 32.45
Horizon Kinetics LLC -79.92 1,323.43 -6.04% 512.22
BNY Mellon -2.92 1,312.36 -0.22% 213.88
UBS 0.00 1,300.79 0.00% 8.49
The Motley Fool -6.03 1,221.02 -0.49% -85.94
Sprott, Inc. 14.68 1,209.18 1.21% 310.80
Defiance ETFs -3.81 1,183.14 -0.32% -186.81
Alpha Architect -14.28 1,098.78 -1.30% 181.09
Inspire 23.30 1,070.85 2.18% 113.71
Main Management -7.25 1,009.74 -0.72% 11.53
Davis Advisers -1.15 903.87 -0.13% -143.00
Distillate Capital 32.35 812.97 3.98% 270.15
Credit Suisse Group AG 28.15 727.07 3.87% 288.60
Roundhill Investments -9.52 682.45 -1.40% -82.24
Teucrium -166.30 678.56 -24.51% 480.27
Nationwide -9.68 666.67 -1.45% -8.99
T. Rowe Price Group, Inc. 17.28 664.04 2.60% 175.83
Tortoise 8.88 641.99 1.38% 64.47
Merk -9.73 625.50 -1.56% 65.51
Timothy Plan 7.98 607.94 1.31% 116.06
Redwood Investment Management -3.28 575.13 -0.57% -96.88
Regents Park Funds -0.21 530.09 -0.04% 207.18
Day Hagan Asset Management 26.71 515.99 5.18% 174.02
Howard Capital Management -3.47 507.76 -0.68% -12.16
ClearShares LLC 25.04 491.87 5.09% 115.11
Litman Gregory Capital Partners LLC 106.24 458.03 23.20% 366.84
Engine No. 1 LLC 11.16 450.16 2.48% 220.14
Liquid Strategies 2.02 442.64 0.46% 37.66
Tuttle Tactical Management, LLC -40.48 420.23 -9.63% 138.04
TrimTabs -21.68 402.59 -5.38% -43.21
Core Alternative Capital 102.49 402.03 25.49% 137.70
Cavalier16 -10.08 379.13 -2.66% -0.81
ORIX Corp. 8.26 347.85 2.37% 141.91
Swedish Export Credit -37.14 345.03 -10.76% 23.63
Advisors Asset Management 14.26 340.79 4.18% 152.30
Bondbloxx Investment Management LLC 153.10 289.98 52.80% 266.46
Retireful LLC 15.63 280.46 5.57% 292.18
Little Harbor Advisors 1.89 268.10 0.70% -38.84
AXS Investments 22.71 250.33 9.07% 143.84
WBI 1.31 250.14 0.52% -15.61
AGF 55.15 216.27 25.50% 95.06
Renaissance Capital -1.90 210.44 -0.90% -41.48
Al Marketing LLC -7.19 203.82 -3.53% -76.25
Wahed Invest LLC 1.79 202.95 0.88% 50.90
SRN Advisors -3.86 202.88 -1.90% -63.78
Truemark Group 7.23 201.34 3.59% 21.11
Syntax Advisors 4.89 197.14 2.48% -2.72
Wainwright, Inc. 3.48 180.30 1.93% 29.83
Impact Shares 0.55 170.40 0.32% 6.93
Oneascent Holdings LLC 0.00 169.96 0.00% 103.30
Stf Management LP -3.07 168.71 -1.82% 173.22
Volatility Shares LLC 85.26 162.02 52.62% 194.24
Swan Global Investments -2.58 158.35 -1.63% 17.83
Truist 2.09 153.91 1.36% 12.70
Rayliant Investment Research -0.17 151.81 -0.11% 108.09
Kingsview Partners LLC 4.85 151.78 3.19% 42.67
OBP Capital LLC 1.55 148.29 1.04% 20.08
Intangible Capital -1.80 142.52 -1.26% -17.06
Gadsden 7.90 136.48 5.79% 19.20
CornerCap Investment Counsel, Inc. 0.97 133.95 0.72% 32.24
Cary Street Partners Financial LLC /VA/ 24.19 130.82 18.49% 134.16
Humankind USA LLC 9.01 118.86 7.58% 17.57
Arrow Funds 0.00 114.27 0.00% -7.76
Doubleline ETF Adviser LP 0.00 110.05 0.00% 49.44
Neil Azous Revocable Trust 7.86 99.33 7.91% 27.54
Water Island Capital Partners LP -2.06 80.13 -2.57% 56.65
First Manhattan Co. 0.02 73.44 0.02% 0.03
Absolute Investment Advisers LLC 0.63 71.22 0.89% 19.48
Exponential ETFs -0.14 70.37 -0.19% -1.16
Pacific Life 1.81 70.04 2.58% 40.88
ProcureAM -1.04 69.79 -1.49% -11.91
Pettee Investors -2.25 67.85 -3.32% -16.03
Toews Corp. 0.58 67.31 0.86% 15.39
Beyond Investing 1.70 67.13 2.53% 6.79
Inverdale Capital Management LLC 3.08 64.96 4.74% 26.04
Natixis -0.14 64.81 -0.21% -1.90
Baird Financial Group 8.24 64.51 12.77% 67.94
GeaSphere LLC 0.46 63.90 0.71% 6.24
Emles Advisors LLC 0.21 60.18 0.34% 3.58
Cohanzick Management -1.44 60.09 -2.40% 16.98
Power Corporation of Canada -0.63 58.00 -1.09% 20.23
SEI Investments 4.22 56.60 7.45% 55.68
EntrepreneurShares, LLC -0.64 55.60 -1.15% -20.64
Federated Hermes, Inc. -5.48 54.57 -10.04% 9.50
Formidable Asset Management 0.00 50.44 0.00% 9.52
Alexis Investment Partners LLC -6.70 46.12 -14.54% 1.55
Guinness Atkinson Asset Management -1.73 43.70 -3.95% -1.73
VectorShares LLC 0.00 43.67 0.00% 27.80
Alger Group Holdings LLC 4.59 42.22 10.87% 5.61
Red Gate Advisers LLC 1.76 40.89 4.30% 6.28
ETF Series Solutions -2.47 40.80 -6.06% 0.72
2nd Vote Value Investments, Inc 0.00 39.33 0.00% -1.73
Highland Capital Management 1.50 35.84 4.17% -7.93
Premise Capital -0.73 34.35 -2.13% -1.27
Build Asset Management LLC 0.00 32.26 0.00% 34.02
Ridgeline Research LLC 0.00 32.26 0.00% 2.41
ASYMmetric ETFs -0.81 32.14 -2.53% 10.97
Metaurus Advisors 0.02 30.39 0.05% 5.03
Sheaff Brock Capital Management LLC 0.00 30.06 0.00% 2.67
Advocate Capital Management LLC -1.44 28.95 -4.96% 10.53
The Leuthold Group LLC 0.70 26.21 2.69% 10.39
Valkyrie Funds LLC -0.21 25.94 -0.80% -23.00
GAMCO Investors, Inc. 0.13 25.23 0.50% 3.82
Cultivar Capital, Inc. 0.00 24.41 0.00% 15.64
Convergence Investment Partners, LLC -0.03 24.38 -0.12% -1.19
Faith Investor Services, LLC 0.00 23.81 0.00% 25.71
Esoterica -1.04 22.77 -4.56% -8.11
AlphaMark Advisors 0.00 21.65 0.00% 0.00
First Pacific Advisors LP 0.51 20.56 2.50% 21.68
Knights of Columbus 0.00 20.01 0.00% -0.80
Reflection Asset Management, LLC 0.00 18.80 0.02% 7.47
Mairs & Power, Inc. 0.00 18.03 0.00% 1.33
Point Bridge Capital 0.00 16.23 0.00% 2.93
MCCM Group LLC -4.61 14.97 -30.81% 5.74
Zacks Investment Management 0.56 14.45 3.90% 3.61
Global Beta Advisors 2.54 13.46 18.88% 8.90
Applied Finance Group 0.00 12.38 0.00% 3.97
Changebridge Capital LLC 0.19 12.15 1.59% -2.09
Alphatrai Funds, Inc. 4.57 11.43 39.93% 5.36
GCI Investors, Inc. 0.00 11.40 0.00% 7.40
Future Fund Advisors 0.00 10.22 0.00% -2.00
WealthTrust Asset Management LLC 0.51 9.99 5.13% 9.57
Counterpoint Mutual Funds LLC 0.00 9.51 0.00% 0.00
Lifegoal Investments LLC 3.02 8.64 35.01% 5.41
Alternative Access Funds LLC -2.43 7.31 -33.28% -2.43
Digital Currency Group, Inc. 0.00 6.09 0.00% 12.54
Goose Hollow Capital Management LLC 2.87 5.82 49.35% 4.69
Nuveen Investments, Inc. 0.00 5.29 0.00% 0.00
Democracy Investment Management LLC 0.00 4.92 0.02% 2.39
Clockwise Capital LLC 0.47 4.74 10.00% 3.58
Kelly Strategic Management LLC 0.63 4.53 13.80% 5.08
Rcube SAS 0.00 4.53 0.00% 4.18
Lyrical Partners 0.00 4.52 0.00% 1.31
VegTech LLC 0.00 4.38 0.00% 3.35
V-Square Quantitative Management LLC 0.00 3.50 0.00% 2.47
Spear Advisors LLC 0.00 3.39 0.00% 0.30
Jacob Asset Management 0.00 3.31 0.00% -0.14
Kingsbarn Capital Management LLC 0.00 2.91 0.00% 1.23
Dynamic Shares LLC 0.00 2.41 0.00% 1.00
Volt Equity LLC 0.00 2.26 0.00% 0.33
Grizzle Investment Management LLC 0.00 1.83 0.00% 1.10
Amberwave Partners Research & Management LLC 0.00 1.64 0.00% 1.28
Big Data Federation, Inc. 0.00 1.54 0.00% 0.62
Matthews International Capital Management 0.00 1.48 0.00% 0.00
Dalton Capital 0.00 1.26 0.00% 0.26
Subversive Capital Advisor LLC 0.00 0.98 0.00% 1.25
Inherent Wealth Fund LLC 0.00 0.92 0.00% 0.77
Tradelegs LLC 0.00 0.51 0.00% 0.50
Wilshire Phoenix Funds LLC 0.00 0.49 0.00% -1.23
Chadds Ford Investment Management LLC -43.01 0.42 -10,203.68% -33.08
Neuberger Berman 0.00 0.00 0.00% 0.00
Eaton Vance Corp. 0.00 0.00 0.00% 0.00
Cabot ETF Partners LLC 0.00 0.00 0.00% -0.29
Prudential 0.00 0.00 0.00% 916.62

 

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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