After seeing sizzling gains in April and May, U.S. stocks took a breather in June. The S&P 500 rose a modest 2% in the month, but investors kept putting new money to work in U.S. equity ETFs and elsewhere. On net, $58.6 billion flowed into U.S.-listed ETFs during the month, pushing year-to-date inflows to $202.2 billion. That's ahead of the $121.3 billion seen at the halfway mark of 2019.
Of June's inflows, $10.9 billion headed for U.S. equity ETFs; $7.6 billion went into international equity ETFs; and $31.1 billion flowed into U.S. fixed income ETFs.
Taking No. 1 on the list of monthly inflows was the Vanguard S&P 500 ETF (VOO). The S&P 500 consolidated in a range between 3,000 and 3,200 during June as improving economic data was weighed against a second wave of coronavirus infections across the U.S.
Meanwhile, the JPMorgan BetaBuilders Europe ETF (BBEU) was the most popular international equity ETF of the month. BBEU outperformed the S&P 500 during June, with a gain of 4.4%. Most European economies have thus far managed to avoid a major second wave of COVID-19, which has lent some support to the region's stock markets.
Demand Strong For Fixed Income & Gold
While U.S. stocks held in place during June, that wasn't the case for bonds. Investment grade credit spreads continued to narrow during the month thanks to corporate bond purchases by the Federal Reserve. The iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD) attracted inflows of $3.6 billion during the month, helping to push overall U.S. fixed income ETF inflows for June to $31.1 billion. Prices for the fund notched a record high on June 30.
Treasuries and junk bonds didn't fare as well during the month—both were largely flat. But funds like the iShares iBoxx USD High Yield Corproate Bond ETF (HYG) and the SPDR Portfolio Intermediate Term Treasury ETF (SPTI) still found themselves among the top asset gatherers of the month.
Finally, the SPDR Gold Trust (GLD) made yet another appearance on the top inflows list, with creations of $3.1 billion. The fund has pulled in a whopping $15.5 billion of new investor dollars on a year-to-date basis.
For a full list of the top inflows and outflows for June and the year as a whole, see the tables below:
Top Gainers (June 2020)
| Ticker | Name | Issuer | Net Flows ($,mm) | AUM ($M) | % of AUM | YTD 2020 Net Flows($,M) |
| VOO | Vanguard S&P 500 ETF | Vanguard | 6,932.51 | 145,665.02 | 4.76% | 22,551.30 |
| VCIT | Vanguard Intermediate-Term Corporate Bond ETF | Vanguard | 5,707.57 | 35,881.37 | 15.91% | 9,068.65 |
| LQD | iShares iBoxx USD Investment Grade Corporate Bond ETF | Blackrock | 3,582.26 | 53,939.43 | 6.64% | 15,576.23 |
| GLD | SPDR Gold Trust | State Street Global Advisors | 3,136.69 | 67,128.37 | 4.67% | 15,491.41 |
| BBEU | JPMorgan BetaBuilders Europe ETF | JPMorgan Chase | 2,795.95 | 5,164.38 | 54.14% | 2,108.65 |
| AGG | iShares Core U.S. Aggregate Bond ETF | Blackrock | 2,522.08 | 75,503.30 | 3.34% | 2,859.14 |
| HYG | iShares iBoxx USD High Yield Corporate Bond ETF | Blackrock | 2,498.90 | 26,772.05 | 9.33% | 8,628.08 |
| VCSH | Vanguard Short-Term Corporate Bond ETF | Vanguard | 2,310.37 | 28,863.37 | 8.00% | 2,697.43 |
| SPTI | SPDR Portfolio Intermediate Term Treasury ETF | State Street Global Advisors | 2,250.47 | 4,059.89 | 55.43% | 2,908.65 |
| BND | Vanguard Total Bond Market ETF | Vanguard | 2,087.30 | 56,056.62 | 3.72% | 5,045.08 |
Top Gainers (Year-to-Date)
| Ticker | Name | Issuer | Net Flows ($,mm) | AUM ($M) | % of AUM | June 2020 Net Flows($,M) |
| VOO | Vanguard S&P 500 ETF | Vanguard | 22,551.30 | 145,665.02 | 15.48% | 6,932.51 |
| LQD | iShares iBoxx USD Investment Grade Corporate Bond ETF | Blackrock | 15,576.23 | 53,939.43 | 28.88% | 3,582.26 |
| GLD | SPDR Gold Trust | State Street Global Advisors | 15,491.41 | 67,128.37 | 23.08% | 3,136.69 |
| VTI | Vanguard Total Stock Market ETF | Vanguard | 10,680.63 | 140,999.44 | 7.57% | 578.22 |
| QQQ | Invesco QQQ Trust | Invesco | 10,491.56 | 112,441.52 | 9.33% | -1,444.87 |
| VCIT | Vanguard Intermediate-Term Corporate Bond ETF | Vanguard | 9,068.65 | 35,881.37 | 25.27% | 5,707.57 |
| HYG | iShares iBoxx USD High Yield Corporate Bond ETF | Blackrock | 8,628.08 | 26,772.05 | 32.23% | 2,498.90 |
| BIL | SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | State Street Global Advisors | 7,268.50 | 16,109.27 | 45.12% | -2,407.25 |
| USO | United States Oil Fund LP | US Commodity Funds | 6,066.15 | 4,775.48 | 127.03% | -463.93 |
| ESGU | iShares ESG MSCI U.S.A. ETF | Blackrock | 5,220.05 | 6,905.65 | 75.59% | -411.62 |
Biggest Losers (June 2020)
| Ticker | Name | Issuer | Net Flows ($,mm) | AUM ($M) | % of AUM | YTD 2020 Net Flows($,M) |
| XLV | Health Care Select Sector SPDR Fund | State Street Global Advisors | -2,517.63 | 22,813.29 | -11.04% | 3,371.89 |
| BIL | SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | State Street Global Advisors | -2,407.25 | 16,109.27 | -14.94% | 7,268.50 |
| SCHR | Schwab Intermediate-Term U.S. Treasury ETF | Charles Schwab | -1,985.61 | 3,303.30 | -60.11% | -1,846.54 |
| FNDX | Schwab Fundamental U.S. Large Company Index ETF | Charles Schwab | -1,472.10 | 4,251.38 | -34.63% | -1,087.33 |
| SHV | iShares Short Treasury Bond ETF | Blackrock | -1,461.45 | 22,953.44 | -6.37% | 2,142.93 |
| QQQ | Invesco QQQ Trust | Invesco | -1,444.87 | 112,441.52 | -1.28% | 10,491.56 |
| XLF | Financial Select Sector SPDR Fund | State Street Global Advisors | -1,406.84 | 15,881.83 | -8.86% | -2,553.90 |
| JNK | SPDR Bloomberg Barclays High Yield Bond ETF | State Street Global Advisors | -1,389.97 | 10,509.63 | -13.23% | -667.43 |
| IEFA | iShares Core MSCI EAFE ETF | Blackrock | -1,119.39 | 63,967.32 | -1.75% | -26.94 |
| XLB | Materials Select Sector SPDR Fund | State Street Global Advisors | -965.41 | 3,833.99 | -25.18% | 456.65 |
Biggest Losers (Year-to-Date)
| Ticker | Name | Issuer | Net Flows ($,mm) | AUM ($M) | % of AUM | June 2020 Net Flows($,M) |
| SPY | SPDR S&P 500 ETF Trust | State Street Global Advisors | -22,007.85 | 270,266.83 | -8.14% | -37.68 |
| EFA | iShares MSCI EAFE ETF | Blackrock | -10,094.18 | 45,227.14 | -22.32% | -569.92 |
| IWM | iShares Russell 2000 ETF | Blackrock | -4,908.69 | 36,165.83 | -13.57% | -825.53 |
| IEMG | iShares Core MSCI Emerging Markets ETF | Blackrock | -4,903.67 | 49,466.11 | -9.91% | -2.05 |
| EEM | iShares MSCI Emerging Markets ETF | Blackrock | -4,604.52 | 21,915.37 | -21.01% | 267.23 |
| FLOT | iShares Floating Rate Bond ETF | Blackrock | -3,735.95 | 5,898.98 | -63.33% | -216.25 |
| IJH | iShares Core S&P Mid-Cap ETF | Blackrock | -3,647.78 | 41,704.42 | -8.75% | -603.27 |
| VWO | Vanguard FTSE Emerging Markets ETF | Vanguard | -3,598.31 | 56,044.30 | -6.42% | 212.85 |
| EWJ | iShares MSCI Japan ETF | Blackrock | -3,424.58 | 9,524.97 | -35.95% | 124.85 |
| GOVT | iShares U.S. Treasury Bond ETF | Blackrock | -2,695.15 | 14,200.20 | -18.98% | -18.78 |
Asset Classes (June 2020)
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | 10,908.43 | 2,400,177.58 | 0.45% |
| International Equity | 7,639.42 | 778,582.04 | 0.98% |
| U.S. Fixed Income | 31,101.52 | 872,382.98 | 3.57% |
| International Fixed Income | 2,622.64 | 92,036.39 | 2.85% |
| Commodities ETFs | 4,855.34 | 123,647.42 | 3.93% |
| Currency | -424.08 | 1,567.02 | -27.06% |
| Leveraged | 1,503.81 | 35,000.27 | 4.30% |
| Inverse | 100.44 | 16,048.72 | 0.63% |
| Asset Allocation | 168.10 | 9,738.73 | 1.73% |
| Alternatives | 96.12 | 4,519.52 | 2.13% |
| Total: | 58,571.74 | 4,333,700.67 | 1.35% |
Asset Classes (Year-to-Date)
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | 68,088.98 | 2,400,177.58 | 2.84% |
| International Equity | -10,449.09 | 778,582.04 | -1.34% |
| U.S. Fixed Income | 92,268.40 | 872,382.98 | 10.58% |
| International Fixed Income | 3,920.47 | 92,036.39 | 4.26% |
| Commodities ETFs | 33,134.28 | 123,647.42 | 26.80% |
| Currency | 266.22 | 1,567.02 | 16.99% |
| Leveraged | 4,296.51 | 35,000.27 | 12.28% |
| Inverse | 11,526.25 | 16,048.72 | 71.82% |
| Asset Allocation | 398.77 | 9,738.73 | 4.09% |
| Alternatives | -1,209.67 | 4,519.52 | -26.77% |
| Total: | 202,241.12 | 4,333,700.67 | 4.67% |
June 2020 ETF Issuer League Table
| Issuer | Net Flows ($,M) | AUM ($,M) | % of AUM | YTD 2020 Net Flows($,M) |
| Blackrock | 19,312.94 | 1,638,871.21 | 1.18% | 40,051.75 |
| Vanguard | 24,768.30 | 1,164,442.55 | 2.13% | 88,494.65 |
| State Street Global Advisors | -727.97 | 700,294.66 | -0.10% | 22,792.58 |
| Invesco | -641.25 | 224,185.16 | -0.29% | 1,300.31 |
| Charles Schwab | -1,079.78 | 154,861.13 | -0.70% | 4,634.63 |
| First Trust | 1,664.58 | 85,397.16 | 1.95% | 4,027.13 |
| VanEck | 484.38 | 43,022.31 | 1.13% | -607.90 |
| ProShares | 357.26 | 39,871.73 | 0.90% | 13,321.31 |
| JPMorgan Chase | 8,032.11 | 36,260.65 | 22.15% | 7,706.83 |
| WisdomTree | -66.55 | 31,140.63 | -0.21% | -2,654.45 |
| Allianz | 1,171.80 | 22,758.31 | 5.15% | 889.39 |
| FMR LLC | 424.98 | 17,474.06 | 2.43% | 1,721.16 |
| Goldman Sachs | 218.64 | 16,676.75 | 1.31% | 296.15 |
| Direxion | 1,108.14 | 15,820.63 | 7.00% | 8,130.66 |
| Deutsche Bank | -10.80 | 14,901.85 | -0.07% | -270.45 |
| Northern Trust | -32.41 | 12,597.41 | -0.26% | -1,530.10 |
| Mirae Asset | 507.33 | 11,506.28 | 4.41% | 1,094.38 |
| ARK | 1,062.47 | 7,783.74 | 13.65% | 2,842.07 |
| Franklin Templeton | 442.15 | 6,206.79 | 7.12% | 2,161.99 |
| SS&C | -278.09 | 6,176.36 | -4.50% | -1,409.12 |
| US Commodity Funds | -497.90 | 6,142.63 | -8.11% | 6,707.12 |
| Pacer Advisors | -225.35 | 5,084.60 | -4.43% | 263.17 |
| Aberdeen Standard Investments | 211.18 | 4,502.45 | 4.69% | 1,054.29 |
| Victory Capital | -28.85 | 4,500.84 | -0.64% | -249.91 |
| John Hancock | -102.10 | 4,051.56 | -2.52% | -72.36 |
| ETFMG | 80.35 | 3,490.00 | 2.30% | 91.75 |
| The Hartford | -57.15 | 3,377.12 | -1.69% | -310.64 |
| CICC | 140.05 | 3,318.67 | 4.22% | 83.47 |
| Principal | 36.15 | 3,264.56 | 1.11% | 202.37 |
| Innovator | -4.06 | 3,261.65 | -0.12% | 1,054.95 |
| New York Life | -29.95 | 3,115.21 | -0.96% | -77.23 |
| Credit Suisse | 167.16 | 3,074.80 | 5.44% | -2,234.40 |
| Exchange Traded Concepts | 105.73 | 3,026.83 | 3.49% | 367.35 |
| Janus Henderson | 281.46 | 2,418.59 | 11.64% | 965.66 |
| Barclays Capital Inc. | 104.67 | 2,145.08 | 4.88% | -2,084.68 |
| American Century Investments | 260.11 | 2,069.40 | 12.57% | 1,022.01 |
| Nuveen Securities | 306.47 | 1,710.13 | 17.92% | 775.92 |
| US Global Investors | 220.74 | 1,297.26 | 17.02% | 1,125.85 |
| Amplify | 182.33 | 1,293.48 | 14.10% | 437.91 |
| Vident | -67.95 | 1,223.30 | -5.55% | -221.73 |
| Legg Mason | -1.45 | 1,152.02 | -0.13% | -173.06 |
| GraniteShares | 50.43 | 1,128.33 | 4.47% | 334.41 |
| Prudential | 30.79 | 1,039.32 | 2.96% | 163.97 |
| UBS | -151.04 | 1,013.30 | -14.91% | -2,658.55 |
| Toroso Investments | -24.29 | 1,006.60 | -2.41% | 505.79 |
| O’Shares Investments | 94.50 | 852.49 | 11.08% | 133.26 |
| BMO | 148.61 | 852.10 | 17.44% | 190.54 |
| Davis Advisers | 3.04 | 822.95 | 0.37% | 147.59 |
| AdvisorShares | 69.20 | 806.22 | 8.58% | 215.55 |
| Columbia Management Investment Advisers, LLC | 11.68 | 722.00 | 1.62% | 82.17 |
| Transamerica Funds | 0.00 | 708.11 | 0.00% | -26.55 |
| Cambria | 59.97 | 663.96 | 9.03% | 92.33 |
| Aptus Capital Advisors | 49.38 | 648.81 | 7.61% | 189.93 |
| Virtus Investment Partners | -2.11 | 537.01 | -0.39% | -206.95 |
| Main Management | -2.94 | 532.13 | -0.55% | 23.07 |
| Inspire | -12.80 | 446.14 | -2.87% | 9.10 |
| EMPIRICAL FINANCE LLC | 18.32 | 416.52 | 4.40% | 20.24 |
| FormulaFolios | -2.18 | 401.56 | -0.54% | 4.71 |
| Nationwide | 10.17 | 393.52 | 2.58% | 16.77 |
| Defiance ETFs | 43.42 | 375.46 | 11.57% | 184.27 |
| WBI | -20.00 | 368.29 | -5.43% | -56.68 |
| The Motley Fool | 8.36 | 342.49 | 2.44% | 35.58 |
| Tortoise | -1.53 | 317.98 | -0.48% | -52.45 |
| Sprott, Inc. | 11.51 | 317.33 | 3.63% | 18.76 |
| Timothy Plan | 5.04 | 306.88 | 1.64% | 88.83 |
| Merk | 11.99 | 297.72 | 4.03% | 71.86 |
| Regents Park Funds | 9.74 | 262.66 | 3.71% | 174.31 |
| The Bank of New York Mellon | 5.45 | 259.80 | 2.10% | 33.69 |
| Liquid Strategies | 6.16 | 224.95 | 2.74% | 114.47 |
| ClearShares | 0.00 | 220.70 | 0.00% | 22.82 |
| AGF | 34.53 | 206.31 | 16.74% | 67.75 |
| Teucrium | 61.02 | 200.19 | 30.48% | 57.68 |
| Redwood Investment Management | 61.51 | 191.28 | 32.16% | 94.05 |
| Howard Capital Management | 6.65 | 188.56 | 3.53% | 74.18 |
| Citigroup Inc | 1.73 | 183.23 | 0.94% | 2.42 |
| Swedish Export Credit | -0.42 | 157.88 | -0.27% | -50.00 |
| Intangible Capital | -0.06 | 140.55 | -0.04% | 1.32 |
| EntrepreneurShares, LLC | 1.05 | 140.51 | 0.75% | 20.43 |
| Reality Shares | -8.89 | 135.44 | -6.56% | -26.77 |
| Core Alternative Capital | -2.79 | 128.60 | -2.17% | 18.65 |
| Tuttle Tactical Management, LLC | -0.08 | 124.64 | -0.07% | 113.01 |
| Distillate Capital | 6.86 | 119.72 | 5.73% | 59.16 |
| TrimTabs | -3.61 | 114.13 | -3.16% | -15.18 |
| Roundhill Investments | 99.90 | 112.68 | 88.66% | 104.20 |
| Arrow Funds | 0.00 | 106.62 | 0.00% | -7.05 |
| Pacific Life | 3.69 | 105.02 | 3.51% | 4.96 |
| OBP Capital LLC | 2.88 | 81.33 | 3.54% | 18.64 |
| Renaissance Capital | 20.43 | 78.38 | 26.07% | 25.32 |
| Highland Capital Management | -19.24 | 77.19 | -24.92% | -188.27 |
| Exponential ETFs | -4.93 | 75.07 | -6.56% | -3.59 |
| Donald L. Hagan LLC | 10.68 | 70.33 | 15.18% | 66.88 |
| Gadsden | 4.51 | 60.52 | 7.44% | 10.17 |
| Premise Capital | -2.60 | 58.10 | -4.48% | 22.61 |
| Strategy Shares | 5.02 | 54.50 | 9.22% | 27.70 |
| Cboe Vest Financial LLC | 0.00 | 53.20 | 0.00% | 7.76 |
| Natixis | 0.00 | 48.14 | 0.00% | 2.09 |
| Syntax Advisors | 0.02 | 47.63 | 0.05% | -27.62 |
| Metaurus Advisors | -0.00 | 45.39 | -0.00% | 0.01 |
| Toews Corp. | 40.18 | 44.92 | 89.45% | 40.18 |
| Wahed Invest LLC | 3.94 | 36.83 | 10.69% | 14.05 |
| Little Harbor Advisors | 1.24 | 31.34 | 3.96% | 33.74 |
| AAM Holdings Inc. | 3.24 | 31.23 | 10.39% | -6.46 |
| Belpointe Asset Management, LLC | -1.72 | 30.98 | -5.57% | -17.13 |
| Absolute Investment Advisers LLC | 0.57 | 28.70 | 1.99% | 29.40 |
| iM Global Partner | 3.08 | 27.80 | 11.09% | -4.83 |
| EventShares | 0.00 | 22.36 | 0.00% | 4.14 |
| ProcureAM | 3.66 | 20.46 | 17.89% | 11.69 |
| Beyond Investing | 0.68 | 20.20 | 3.38% | 8.80 |
| Salt Financial | -6.19 | 19.07 | -32.44% | -3.70 |
| Pettee Investors | 4.55 | 18.98 | 24.00% | 11.65 |
| AlphaMark Advisors | 0.00 | 18.32 | 0.00% | 0.00 |
| Rafferty Asset Management | 0.00 | 18.31 | 0.00% | 0.00 |
| Sage | 0.00 | 18.20 | 0.00% | 0.00 |
| Change Finance | -0.05 | 18.10 | -0.28% | 5.42 |
| ETF Series Solutions | 0.61 | 16.62 | 3.66% | 3.73 |
| Impact Shares | 2.32 | 16.00 | 14.51% | 4.50 |
| UP Fintech Holding | -0.00 | 14.09 | -0.02% | 3.00 |
| TrueMark Investments, LLC | 4.53 | 12.90 | 35.16% | 12.31 |
| Counterpoint Mutual Funds LLC | 0.00 | 12.03 | 0.00% | 12.90 |
| Point Bridge Capital | 0.00 | 8.28 | 0.00% | -4.13 |
| The Leuthold Group LLC | 1.25 | 6.27 | 20.00% | 6.18 |
| Water Island Capital Partners LP | 1.24 | 5.00 | 24.71% | 2.47 |
| EquBot | 0.00 | 3.80 | 0.00% | 0.25 |
| Whitford Asset Management | 0.00 | 3.03 | 0.00% | -0.22 |
| Precidian Investments LLC | 0.00 | 2.59 | 0.01% | 0.00 |
| Guinness Atkinson Asset Management | 0.00 | 2.01 | 0.00% | -0.60 |
| Global Beta Advisors | 0.00 | 1.43 | 0.00% | -0.31 |
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.
