Equities Lead As June Inflows Top $77B

ETFs end up short of reaching the $500 billion inflow mark by the first half of 2021.

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Reviewed by: Dan Mika
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Edited by: Dan Mika

The ETF market missed the chance to breach the $500 billion inflow mark at the first half of the year, but appears well on the way after investors put $77 billion in the market in June.

The inflows last month are a 15% increase over May’s flows, and puts the industry on track to easily break the full-year record of $507.4 billion from 2020 in a matter of weeks. The first half of 2021 ended with $472.5 billion in assets for U.S.-based ETFs.

Let’s dig into the data.

Equities Just Keep Getting Bigger

U.S. equity funds added $37.7 billion in assets during the month, a 55% increase over May’s tally, while international equities gained $19.8 billion for a 13.7% gain month-over-month. The performance for American equities isn’t surprising considering the S&P 500 closed at record-highs 35 times in 2021 so far, while the tech-heavy Nasdaq Composite hit 18 records in the same period.

The Invesco QQQ Trust (QQQ) led the charge among all funds, with $6.16 billion in flows during the month as tech flourished, while the SPDR S&P 500 ETF Trust (SPY) was a distant second, at $4.9 billion.

On a year-to-date basis, U.S. equities have a net gain of $219.2 billion and just more than $3.8 trillion in assets under management, while international equities have gained $138 billion and stand at $1.3 trillion in total assets.

Inflation Fears Recede

As more Americans returned to something resembling a prepandemic normal, and other countries across the world started to emerge from COVID-19-generated lockdowns, some investors took positions in inflationary plays as a mismatch of demand and the Federal Reserve’s commitment at the time to keep rates near zero.

Those plays lost steam soon after multiple Fed governors suggested that rate hikes would begin as soon as next year after their FOMC meeting in June, implying that the central bank is keeping a closer eye on long-term inflation than it’s previously indicated.

The Vanguard Short-Term Bond ETF (BSV) and the SPDR Gold Trust (GLD) were among the top 10 gainers in May but fell off the list in June, while the iShares 1-3 Year Treasury Bond ETF (SHY) lost $845.1 million in the month.

At the same time, a $2.2 billion inflow into the iShares 20+ Year Treasury Bond ETF (TLT) and $2.6 billion into the iShares U.S. Real Estate ETF (IYR) suggest that investors aren’t too worried over longer-term inflation.

Commodities Slow Considerably

The commodities class showed a noticeable slowdown during the month despite posting net inflows of $460.2 million—well off the pace of the approximately $5.5 billion worth of inflows in May.

The asset class’ month is a tale of two extremes. Speculators drove the price of oil to almost $75 per barrel toward the end of the month as a wave of post-lockdown vacations piqued demand.

The United States Oil Fund LP (USO) had returns of 9.84% for the month, while the broader Energy Select Sector SPDR Fund (XLE) had a single-month of return of 2.91%.

However, precious metals retreated significantly as inflation fears eased. GLD, the iShares Gold Trust (IAU), the iShares Silver Trust (SLV) and the Aberdeen Standard Physical Precious Metals Basket Shares ETF (GLTR) all had negative returns of 7% or worse during the month.

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

 

Top Gainers (June 2021)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM YTD 2021 Net Flows($,M)
QQQ Invesco QQQ Trust Invesco 6,160.63 177,225.30 3.48% 5,618.69
SPY SPDR S&P 500 ETF Trust State Street Global Advisors 4,876.69 373,525.58 1.31% -1,715.03
VTI Vanguard Total Stock Market ETF Vanguard 3,497.47 252,496.59 1.39% 20,160.46
BND Vanguard Total Bond Market ETF Vanguard 2,888.45 78,499.82 3.68% 12,129.04
IYR iShares U.S. Real Estate ETF Blackrock 2,571.05 7,482.11 34.36% 1,191.97
VOO Vanguard S&P 500 ETF Vanguard 2,444.10 232,337.16 1.05% 26,597.28
TLT iShares 20+ Year Treasury Bond ETF Blackrock 2,164.55 15,081.76 14.35% -2,239.42
IVV iShares Core S&P 500 ETF Blackrock 1,597.28 286,606.20 0.56% 12,513.19
IEFA iShares Core MSCI EAFE ETF Blackrock 1,533.40 96,608.64 1.59% 5,366.33
EZU iShares MSCI Eurozone ETF Blackrock 1,519.28 8,160.74 18.62% 2,516.40

 

Top Gainers (Year-to-Date)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM June 2021 Net Flows($,M)
VOO Vanguard S&P 500 ETF Vanguard 26,597.28 232,337.16 11.45% 2,444.10
VTI Vanguard Total Stock Market ETF Vanguard 20,160.46 252,496.59 7.98% 3,497.47
IVV iShares Core S&P 500 ETF Blackrock 12,513.19 286,606.20 4.37% 1,597.28
BND Vanguard Total Bond Market ETF Vanguard 12,129.04 78,499.82 15.45% 2,888.45
VTV Vanguard Value ETF Vanguard 10,200.25 81,348.23 12.54% 1,256.04
IEMG iShares Core MSCI Emerging Markets ETF Blackrock 9,226.28 83,902.29 11.00% 969.08
XLF Financial Select Sector SPDR Fund State Street Global Advisors 8,875.03 40,617.37 21.85% -2,294.53
IUSB iShares Core Total USD Bond Market ETF Blackrock 8,609.34 14,482.32 59.45% 489.32
ARKK ARK Innovation ETF ARK 7,641.93 25,527.18 29.94% 654.18
VWO Vanguard FTSE Emerging Markets ETF Vanguard 6,616.38 84,372.42 7.84% 848.31

 

Biggest Losers (June 2021)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM YTD 2021 Net Flows($,M)
XLF Financial Select Sector SPDR Fund State Street Global Advisors -2,294.53 40,617.37 -5.65% 8,875.03
HYG iShares iBoxx USD High Yield Corporate Bond ETF Blackrock -1,886.40 20,345.42 -9.27% -5,609.88
TQQQ ProShares UltraPro QQQ ProShares -1,777.52 12,476.94 -14.25% -770.28
LQD iShares iBoxx USD Investment Grade Corporate Bond ETF Blackrock -1,576.44 40,171.95 -3.92% -13,437.84
XLI Industrial Select Sector SPDR Fund State Street Global Advisors -1,165.31 19,167.92 -6.08% 514.26
JNK SPDR Bloomberg Barclays High Yield Bond ETF State Street Global Advisors -1,067.96 9,774.46 -10.93% -2,836.50
SOXL Direxion Daily Semiconductor Bull 3X Shares Direxion -948.84 4,640.70 -20.45% 1,124.14
EWJ iShares MSCI Japan ETF Blackrock -877.90 11,405.33 -7.70% -2,245.27
SHY iShares 1-3 Year Treasury Bond ETF Blackrock -845.12 19,509.33 -4.33% -77.54
MDYV SPDR S&P 400 Mid Cap Value ETF State Street Global Advisors -714.20 1,635.23 -43.68% -190.57

 

Biggest Losers (Year-to-Date)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM June 2021 Net Flows($,M)
LQD iShares iBoxx USD Investment Grade Corporate Bond ETF Blackrock -13,437.84 40,171.95 -33.45% -1,576.44
USMV iShares MSCI USA Min Vol Factor ETF Blackrock -8,095.89 27,615.34 -29.32% -657.36
GLD SPDR Gold Trust State Street Global Advisors -6,905.09 59,003.72 -11.70% 165.15
HYG iShares iBoxx USD High Yield Corporate Bond ETF Blackrock -5,609.88 20,345.42 -27.57% -1,886.40
SHV iShares Short Treasury Bond ETF Blackrock -3,183.89 14,643.56 -21.74% -226.50
IWF iShares Russell 1000 Growth ETF Blackrock -3,151.32 69,315.14 -4.55% -457.43
JNK SPDR Bloomberg Barclays High Yield Bond ETF State Street Global Advisors -2,836.50 9,774.46 -29.02% -1,067.96
QUAL iShares MSCI USA Quality Factor ETF Blackrock -2,746.41 21,601.80 -12.71% 461.03
IVW iShares S&P 500 Growth ETF Blackrock -2,382.46 34,233.27 -6.96% -36.56
IHI iShares U.S. Medical Devices ETF Blackrock -2,260.19 7,779.86 -29.05% -407.89

 

Asset Classes (June 2021)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 37,702.54 3,809,537.57 0.99%
International Equity 19,836.88 1,290,880.87 1.54%
U.S. Fixed Income 15,381.85 1,042,385.34 1.48%
International Fixed Income 3,567.11 142,642.77 2.50%
Commodities 460.19 139,890.88 0.33%
Currency 158.41 1,941.79 8.16%
Leveraged -1,632.29 61,285.23 -2.66%
Inverse 894.64 11,730.93 7.63%
Asset Allocation 548.29 16,348.42 3.35%
Alternatives 76.41 6,417.57 1.19%
Total: 76,994.04 6,523,061.37 1.18%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 219,260.97 3,809,537.57 5.76%
International Equity 138,072.43 1,290,880.87 10.70%
U.S. Fixed Income 84,750.62 1,042,385.34 8.13%
International Fixed Income 21,293.52 142,642.77 14.93%
Commodities -511.90 139,890.88 -0.37%
Currency 55.50 1,941.79 2.86%
Leveraged 758.16 61,285.23 1.24%
Inverse 3,952.28 11,730.93 33.69%
Asset Allocation 2,069.17 16,348.42 12.66%
Alternatives 2,111.76 6,417.57 32.91%
Total: 471,812.51 6,523,061.37 7.23%

 

June 2021 ETF Issuer League Table

Issuer Net Flows ($,M) AUM ($,M) % of AUM YTD 2021 Net Flows($,M)
Blackrock 17,795.92 2,299,593.61 0.77% 94,250.23
Vanguard 27,604.65 1,843,092.90 1.50% 173,831.69
State Street Global Advisors 5,889.35 979,199.00 0.60% 39,718.74
Invesco 8,037.16 361,324.78 2.22% 31,383.93
Charles Schwab 3,201.08 245,244.91 1.31% 22,562.01
First Trust 2,535.16 135,573.39 1.87% 14,168.51
JPMorgan Chase 1,697.07 65,596.00 2.59% 16,835.11
VanEck 2,800.40 62,111.28 4.51% 7,554.38
ProShares -465.94 57,447.73 -0.81% 4,421.32
ARK 1,121.15 50,421.73 2.22% 16,417.50
WisdomTree 296.50 45,128.07 0.66% 2,450.99
Mirae Asset Global Investments Co., Ltd. 1,229.99 34,706.08 3.54% 11,969.97
Dimensional Holdings 375.33 30,386.64 1.24% 1,364.31
Fidelity 432.79 29,772.20 1.45% 3,026.40
Allianz -59.32 26,794.30 -0.22% 848.06
Direxion -193.65 26,041.15 -0.74% 1,476.24
Goldman Sachs 470.12 23,869.35 1.97% -344.92
Deutsche Bank 520.95 22,427.92 2.32% 878.40
Northern Trust 286.03 18,361.97 1.56% 2,440.49
CICC 880.45 11,098.61 7.93% 5,248.33
Franklin Templeton -35.20 9,464.33 -0.37% 356.99
SS&C -11.22 9,450.71 -0.12% 243.30
ETFMG 6.65 7,618.38 0.09% 1,401.00
Pacer Advisors 193.27 7,517.81 2.57% 993.91
American Century Investments 380.54 7,125.08 5.34% 2,640.22
Exchange Traded Concepts 190.04 7,085.72 2.68% 1,234.71
Standard Life Aberdeen 195.98 6,980.07 2.81% 704.00
Crestview 97.94 6,514.40 1.50% 207.24
Innovator 39.51 5,240.32 0.75% 903.67
Principal 116.95 5,213.85 2.24% 867.94
Manulife 35.24 4,979.05 0.71% -681.20
Amplify Investments 113.48 4,664.40 2.43% 1,214.57
Concierge Technologies -375.62 4,511.19 -8.33% -2,108.90
New York Life -55.79 4,377.86 -1.27% 306.33
Nuveen Securities 244.16 4,119.97 5.93% 1,107.46
Janus Henderson -71.55 4,087.55 -1.75% 155.98
The Hartford 53.49 4,047.36 1.32% 145.17
US Global Investors 33.59 3,700.83 0.91% 499.16
BMO 34.17 3,244.70 1.05% 345.33
Barclays 62.19 3,063.52 2.03% 1,289.75
Toroso Investments -70.13 2,274.35 -3.08% 639.56
AdvisorShares -25.54 2,214.49 -1.15% 1,233.90
Prudential 122.21 1,762.44 6.93% 383.85
Ameriprise Financial 36.30 1,607.33 2.26% 324.60
O’Shares Investments 0.41 1,588.61 0.03% 10.96
Defiance ETFs 32.44 1,513.55 2.14% 376.54
Vident -1.21 1,491.04 -0.08% -22.49
GraniteShares -49.10 1,450.30 -3.39% 140.20
Davis Advisers 17.40 1,334.74 1.30% 108.59
Aptus Capital Advisors 87.59 1,312.61 6.67% 273.75
UBS -5.03 1,271.11 -0.40% -49.53
Virtus Investment Partners 71.87 1,248.53 5.76% 249.15
Cambria 5.96 1,096.12 0.54% 207.89
Credit Suisse Group AG 89.53 1,023.26 8.75% 239.20
Inspire 34.91 1,000.06 3.49% 168.40
Main Management 20.28 980.36 2.07% 211.40
EMPIRICAL FINANCE LLC 7.32 959.91 0.76% 236.09
The Bank of New York Mellon Corp. 23.90 845.18 2.83% 282.14
Aegon -1.15 802.74 -0.14% -31.12
Nationwide 59.09 765.63 7.72% 230.45
Rational Capital LLC 115.61 738.98 15.64% 503.94
Renaissance Capital 38.04 674.16 5.64% -91.10
The Motley Fool 2.86 667.47 0.43% 60.05
Horizon Kinetics LLC 87.30 628.15 13.90% 597.16
Roundhill Investments -19.40 568.08 -3.41% 254.47
Tortoise 8.01 553.45 1.45% 43.08
Simplify Asset Management Inc. 129.19 518.38 24.92% 373.97
Timothy Plan 12.29 472.26 2.60% 29.55
Merk 6.96 463.99 1.50% 57.27
TrimTabs -14.99 432.95 -3.46% 25.90
Redwood Investment Management 70.22 419.80 16.73% -36.68
Howard Capital Management 14.48 404.26 3.58% 59.82
SRN Advisors -6.36 392.84 -1.62% 70.94
Liquid Strategies -1.39 381.56 -0.36% 66.51
Distillate Capital 13.74 378.91 3.63% 119.10
Sprott 0.00 362.92 0.00% 18.15
Al Marketing LLC -5.96 354.40 -1.68% -38.79
Teucrium -41.77 347.52 -12.02% -30.69
T. Rowe Price Group, Inc. 37.43 346.67 10.80% 149.84
Regents Park Funds 7.13 339.03 2.10% 64.36
ClearShares LLC 56.66 336.45 16.84% 86.24
WBI 0.00 294.14 0.00% -0.55
Government of Sweden -5.40 289.85 -1.86% 8.93
ProFund Advisors LLC 14.73 275.52 5.35% 252.50
Donald L. Hagan LLC 21.23 254.83 8.33% 90.72
Tuttle Tactical Management, LLC -2.12 250.24 -0.85% 90.81
Mcivy Co. LLC 0.00 232.44 0.00% 116.87
Intangible Capital -0.02 193.84 -0.01% 2.47
Syntax Advisors 26.64 190.45 13.99% 48.05
Capital Impact Advisors -1.92 187.01 -1.03% -4.53
Core Alternative Capital 5.98 184.60 3.24% 40.61
Little Harbor Advisors 14.21 171.88 8.27% 104.10
TrueMark Investments 12.37 147.98 8.36% 69.91
ProcureAM 0.71 135.25 0.52% 78.13
Arrow Funds -3.16 135.11 -2.34% 3.22
Gadsden 0.71 117.82 0.60% 16.55
Wahed 3.65 116.52 3.13% 39.16
Emles Advisors LLC 68.97 111.95 61.61% 43.06
Kingsview Partners LLC 10.49 107.95 9.71% 100.58
AGF 1.69 106.87 1.58% -15.92
Wainwright, Inc. 5.91 106.78 5.53% 90.25
CornerCap Investment Counsel, Inc. 1.52 103.05 1.47% 28.60
Advisors Asset Management 22.99 96.11 23.93% 46.63
Humankind USA LLC 13.71 85.08 16.11% 77.56
Exponential ETFs 0.00 78.62 0.00% -0.08
iM Square SAS 4.29 75.72 5.67% 16.22
Change Finance 4.84 74.34 6.51% 33.35
Pettee Investors 3.00 74.29 4.03% 21.78
Groupe BPCE 2.52 67.10 3.76% 12.67
Impact Shares 6.35 66.91 9.49% 25.54
Metaurus Advisors 2.48 65.26 3.79% 5.93
Swan Global Investments 8.41 58.46 14.38% 54.57
Pacific Life 0.00 57.34 0.00% -0.11
Beyond Investing 0.00 57.29 -0.01% 14.62
Guinness Atkinson Asset Management 0.00 54.60 0.00% 15.08
Neil Azous Revocable Trust 12.44 52.28 23.80% 30.09
Esoterica 0.00 52.26 0.00% 27.83
Absolute Investment Advisers LLC 2.07 49.64 4.17% 9.16
Infusive Asset Management 1.76 47.77 3.69% 8.53
Toews Corp. 0.77 43.89 1.76% -5.61
Highland Capital Management -0.01 43.58 -0.03% -9.78
Premise Capital 0.00 40.38 0.00% -13.27
Cabot ETF Partners LLC 0.00 38.33 0.00% 33.96
Alger Group Holdings LLC 0.76 38.28 1.98% 30.41
Rayliant Investment Research 18.53 35.92 51.60% 33.47
Red Gate Advisers LLC 0.39 34.99 1.11% 5.39
ETF Series Solutions 0.74 32.29 2.28% 4.58
Inverdale Capital Management LLC 2.70 30.61 8.81% 24.37
2nd Vote Value Investments, Inc 5.45 29.05 18.76% 22.18
AlphaMark Advisors 0.00 26.79 0.00% -1.41
MCCM Group LLC 0.41 26.18 1.56% 34.51
Whitford Asset Management 0.00 23.58 0.00% 20.07
Truist 0.73 23.46 3.12% 0.83
Formidable Asset Management 5.17 23.34 22.14% 22.00
Uncommon Investment Advisors LLC 15.45 20.00 77.24% 19.20
Changebridge Capital LLC 1.10 17.84 6.15% 10.88
The Leuthold Group LLC 0.00 15.09 0.02% 1.43
GAMCO Investors, Inc. 0.00 13.74 0.00% 7.27
Ridgeline Research LLC 3.16 13.68 23.10% 9.93
Point Bridge Capital 0.92 12.60 7.31% 1.00
Mairs & Power, Inc. 1.52 12.60 12.07% 12.53
Counterpoint Mutual Funds LLC 0.60 12.14 4.96% -0.60
EquBot 0.00 11.73 0.00% 4.82
Alternative Access Funds LLC 0.00 10.03 0.00% 0.00
Tuttle Capital Management LLC 3.85 7.81 49.28% 2.63
New Age Alpha Advisors LLC -1.44 7.47 -19.33% 5.49
Water Island Capital Partners LP 0.00 6.55 0.01% 0.00
Global Beta Advisors 0.00 5.10 -0.02% -2.99
Reflection Asset Management, LLC 0.70 4.12 16.93% 1.29
Applied Finance Group 0.00 3.83 0.00% 2.49
ASYMmetric ETFs 0.80 3.28 24.56% 3.10
Democracy Investment Management LLC 0.68 1.99 34.03% 1.32
Wilshire Phoenix Funds LLC 0.00 1.77 0.00% 0.00
WisdomTree Investments, Inc. 0.00 1.05 -0.01% 0.00
Cavalier16 0.00 0.00 0.00% 3.19
Eaton Vance Corp. 0.00 0.00 0.00% 0.00

 

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.

Dan Mika is a reporter for etf.com. He has previously covered business for the Ames Tribune and Cedar Rapids Gazette in Iowa, and BizWest Media in Fort Collins, Colorado. Dan holds a bachelor's degree in journalism from Truman State University.