Nov. ETF Inflows A Record $91B

December 01, 2020

The stock market wasn't the only thing breaking records in November. ETF inflows also reached unprecedented levels during the month, blowing past previous highs reached in 2018 and 2019.

On net, investors added $91.2 billion to U.S.-listed ETFs during November. That's more than the $63.8 billion added in June 2019, and the $68.1 billion added in January 2018—the latter being the previous one-month record for inflows. 

With a single month to go, year-to-date ETF inflows now stand at $443.8 billion, within shot of 2017's record annual haul of $476.1 billion. For comparison, inflows stood at $264.3 billion at the end of last November. 

US Equity ETFs Lead The Way

Of November's inflows, the bulk went into U.S. equity ETFs—unsurprising considering the powerful rally that stocks had during the month. The S&P 500 climbed nearly 11% in November, hitting a new all-time high. At the same time, the small cap Russell 2000 surged 18.2%, its best one-month performance ever. 

As a group, U.S. equity ETFs picked up almost $62 billion of new money in November, ahead of the $20.2 billion that went into international equity ETFs and the $11.3 billion that went into U.S. fixed income ETFs.

That being said, U.S. fixed income ETFs are still ahead of U.S. equity ETFs in the year-to-date tally, $170.5 billion compared to $151.8 billion. If that holds, it would mark the second year in a row in which U.S. fixed income ETFs pulled in more cash than U.S. equity ETFs. 

Individual Names

In terms of individual ETFs, the the SPDR S&P 500 ETF Trust (SPY), the Vanguard Total Stock Market ETF (VTI) and the iShares MSCI USA Quality Factor ETF (QUAL) headlined the top inflows list for November. 

On the outflows side, the SPDR Gold Trust (GLD), the iShares 7-10 Year Treasury Bond ETF (IEF) and the iShares 20+ Year Treasury Bond ETF (TLT) topped the list. Perhaps investors saw less of a need for safe haven assets like gold and Treasuries as positive vaccine news lifted spirits and stocks advanced to records. 

However, on a year-to-date basis, GLD is still among the top five asset gatherers of the year, with inflows of $16.5 billion. It's joined by the Vanguard Total Stock Market ETF (VTI), the Vanguard S&P 500 ETF (VOO), the iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD) and the Invesco QQQ Trust (QQQ), each with year-to-date inflows of more than $16 billion.  

 

Top Gainers (November 2020)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM YTD 2020 Net Flows($,M)
SPY SPDR S&P 500 ETF Trust State Street Global Advisors 13,886.75 323,922.33 4.29% -20,282.51
VTI Vanguard Total Stock Market ETF Vanguard 5,267.89 189,796.57 2.78% 27,198.98
QUAL iShares MSCI USA Quality Factor ETF Blackrock 3,237.89 24,473.48 13.23% 5,659.21
HYG iShares iBoxx USD High Yield Corporate Bond ETF Blackrock 2,726.03 27,346.44 9.97% 7,639.18
IWM iShares Russell 2000 ETF Blackrock 2,708.37 52,012.52 5.21% -548.55
VXUS Vanguard Total International Stock ETF Vanguard 2,651.19 35,264.93 7.52% 13,799.29
VOO Vanguard S&P 500 ETF Vanguard 2,553.51 178,106.58 1.43% 26,566.58
XLF Financial Select Sector SPDR Fund State Street Global Advisors 2,231.31 22,782.22 9.79% 277.75
IVV iShares Core S&P 500 ETF Blackrock 2,228.11 235,740.05 0.95% 10,128.85
IJR iShares Core S&P Small-Cap ETF Blackrock 1,751.70 52,297.65 3.35% 1,984.19

 

Top Gainers (Year-to-Date)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM November 2020 Net Flows($,M)
VTI Vanguard Total Stock Market ETF Vanguard 27,198.98 189,796.57 14.33% 5,267.89
VOO Vanguard S&P 500 ETF Vanguard 26,566.58 178,106.58 14.92% 2,553.51
LQD iShares iBoxx USD Investment Grade Corporate Bond ETF Blackrock 18,197.17 58,343.36 31.19% 536.37
GLD SPDR Gold Trust State Street Global Advisors 16,515.02 68,326.90 24.17% -3,757.11
QQQ Invesco QQQ Trust Invesco 16,421.02 144,451.19 11.37% 380.78
BND Vanguard Total Bond Market ETF Vanguard 14,780.69 65,882.66 22.43% 1,432.29
VCIT Vanguard Intermediate-Term Corporate Bond ETF Vanguard 13,851.49 41,521.88 33.36% 1,623.57
VXUS Vanguard Total International Stock ETF Vanguard 13,799.29 35,264.93 39.13% 2,651.19
AGG iShares Core U.S. Aggregate Bond ETF Blackrock 10,566.54 83,365.88 12.67% 1,181.91
IVV iShares Core S&P 500 ETF Blackrock 10,128.85 235,740.05 4.30% 2,228.11

 

Biggest Losers (November 2020)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM YTD 2020 Net Flows($,M)
GLD SPDR Gold Trust State Street Global Advisors -3,757.11 68,326.90 -5.50% 16,515.02
IEF iShares 7-10 Year Treasury Bond ETF Blackrock -3,265.50 16,363.47 -19.96% -3,018.19
TLT iShares 20+ Year Treasury Bond ETF Blackrock -1,760.34 17,916.50 -9.83% -2,417.45
TQQQ ProShares UltraPro QQQ ProShares -1,423.77 9,281.14 -15.34% 646.85
USMV iShares MSCI USA Min Vol Factor ETF Blackrock -1,169.04 33,650.21 -3.47% -3,757.29
SHV iShares Short Treasury Bond ETF Blackrock -1,018.27 18,936.44 -5.38% -1,864.86
SDY SPDR S&P Dividend ETF State Street Global Advisors -989.76 16,972.44 -5.83% -2,216.09
SHY iShares 1-3 Year Treasury Bond ETF Blackrock -863.48 20,336.89 -4.25% 2,264.72
BIL SPDR Bloomberg Barclays 1-3 Month T-Bill ETF State Street Global Advisors -640.67 13,220.01 -4.85% 4,380.69
SPYG SPDR Portfolio S&P 500 Growth ETF State Street Global Advisors -636.46 9,188.10 -6.93% 1,778.14

 

Biggest Losers (Year-to-Date)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM November 2020 Net Flows($,M)
SPY SPDR S&P 500 ETF Trust State Street Global Advisors -20,282.51 323,922.33 -6.26% 13,886.75
EFA iShares MSCI EAFE ETF Blackrock -12,011.00 51,343.29 -23.39% -240.56
EEM iShares MSCI Emerging Markets ETF Blackrock -4,917.12 26,937.65 -18.25% 0.00
IJH iShares Core S&P Mid-Cap ETF Blackrock -4,381.37 51,410.44 -8.52% 263.19
IEMG iShares Core MSCI Emerging Markets ETF Blackrock -4,162.17 62,555.74 -6.65% 1,600.14
FLOT iShares Floating Rate Bond ETF Blackrock -4,120.97 5,539.43 -74.39% -55.74
VWO Vanguard FTSE Emerging Markets ETF Vanguard -3,959.82 67,915.13 -5.83% -55.52
USMV iShares MSCI USA Min Vol Factor ETF Blackrock -3,757.29 33,650.21 -11.17% -1,169.04
IEF iShares 7-10 Year Treasury Bond ETF Blackrock -3,018.19 16,363.47 -18.44% -3,265.50
VNQ Vanguard Real Estate ETF Vanguard -2,964.87 30,052.20 -9.87% -391.49

 

Asset Classes (November 2020)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 61,966.79 2,987,682.39 2.07%
International Equity 20,218.27 993,383.79 2.04%
U.S. Fixed Income 11,273.26 956,995.84 1.18%
International Fixed Income 4,026.63 118,429.44 3.40%
Commodities -4,523.02 135,820.83 -3.33%
Currency -105.34 1,841.10 -5.72%
Leveraged -2,335.07 41,961.90 -5.56%
Inverse 287.30 11,742.61 2.45%
Asset Allocation 217.68 12,907.79 1.69%
Alternatives 186.94 5,166.46 3.62%
Total: 91,213.44 5,265,932.15 1.73%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 151,803.04 2,987,682.39 5.08%
International Equity 42,454.93 993,383.79 4.27%
U.S. Fixed Income 170,497.17 956,995.84 17.82%
International Fixed Income 20,763.27 118,429.44 17.53%
Commodities 40,722.48 135,820.83 29.98%
Currency 505.16 1,841.10 27.44%
Leveraged 793.24 41,961.90 1.89%
Inverse 13,405.66 11,742.61 114.16%
Asset Allocation 2,669.52 12,907.79 20.68%
Alternatives 208.21 5,166.46 4.03%
Total: 443,822.69 5,265,932.15 8.43%

 

November 2020 ETF Issuer League Table

Issuer Net Flows ($,M) AUM ($,M) % of AUM YTD 2020 Net Flows($,M)
Blackrock 30,480.76 1,959,712.02 1.56% 109,308.77
Vanguard 23,183.88 1,446,852.88 1.60% 174,736.11
State Street Global Advisors 20,199.88 824,854.92 2.45% 38,613.33
Invesco 3,946.79 281,473.66 1.40% 14,438.50
Charles Schwab 3,208.17 190,846.85 1.68% 12,633.39
First Trust 1,881.75 105,674.10 1.78% 10,852.94
VanEck 1,839.41 49,505.26 3.72% 3,006.81
ProShares -1,146.86 45,710.68 -2.51% 15,103.54
JPMorgan Chase 609.89 43,571.77 1.40% 11,202.73
WisdomTree 131.06 36,880.72 0.36% -1,807.48
PIMCO 418.06 25,479.28 1.64% 3,183.13
ARK 2,475.74 23,423.42 10.57% 11,990.89
Fidelity 462.83 22,254.99 2.08% 3,340.71
Goldman Sachs 6.68 20,478.66 0.03% 1,571.49
Deutsche Bank 172.95 19,516.07 0.89% 2,292.15
Mirae Asset 1,177.10 18,089.91 6.51% 4,899.78
Direxion -734.89 17,268.61 -4.26% 5,207.19
Northern Trust -20.03 14,207.49 -0.14% -1,582.90
Franklin Templeton 172.73 8,617.23 2.00% 2,580.86
SS&C 93.71 7,048.58 1.33% -1,427.11
CICC 700.68 6,200.44 11.30% 2,130.52
Aberdeen Standard Investments -17.21 5,849.62 -0.29% 1,985.23
Pacer Advisors -115.03 5,586.81 -2.06% -7.65
Exchange Traded Concepts 230.06 5,515.32 4.17% 2,123.31
Victory Capital 117.37 5,481.58 2.14% 0.82
US Commodity Funds -251.96 4,895.14 -5.15% 4,957.74
John Hancock -65.55 4,842.70 -1.35% -214.42
ETFMG 204.30 4,762.76 4.29% 659.78
Principal 64.79 3,899.03 1.66% 274.34
Innovator -125.41 3,828.38 -3.28% 1,301.80
Janus Henderson 139.99 3,739.47 3.74% 2,228.16
New York Life 91.52 3,674.32 2.49% 204.83
The Hartford 25.30 3,642.28 0.69% -364.15
American Century Investments 157.39 3,428.62 4.59% 1,773.63
US Global Investors 373.82 2,867.84 13.03% 2,102.87
Amplify Investments 121.97 2,597.70 4.70% 1,271.92
Nuveen Securities 105.42 2,430.44 4.34% 1,118.64
Barclays Capital Inc. 147.07 2,343.47 6.28% -1,155.93
BMO 33.80 1,750.65 1.93% 584.66
Toroso Investments 91.31 1,400.87 6.52% 794.16
Vident -14.65 1,334.24 -1.10% -284.24
O’Shares Investments 55.53 1,313.77 4.23% 377.64
GraniteShares -127.06 1,267.54 -10.02% 448.99
Prudential 29.40 1,240.07 2.37% 346.69
Davis Advisers 7.90 1,053.81 0.75% 155.66
Columbia Management Investment Advisers, LLC 53.38 1,034.63 5.16% 312.83
UBS -31.28 937.41 -3.34% -2,215.01
Aptus Capital Advisors 51.66 931.35 5.55% 443.15
AdvisorShares -2.17 904.24 -0.24% 271.37
Cambria 0.76 840.21 0.09% 231.18
Defiance ETFs 99.48 801.55 12.41% 501.64
Virtus Investment Partners 118.09 769.00 15.36% -61.94
Transamerica Funds -9.72 738.99 -1.31% -59.15
Inspire 34.86 675.35 5.16% 152.96
Main Management -1.41 618.03 -0.23% 0.07
EMPIRICAL FINANCE LLC 10.11 611.05 1.65% 123.07
Credit Suisse Group AG 17.74 594.17 2.99% -1,532.13
The Motley Fool 15.36 499.64 3.07% 100.43
Renaissance Capital 69.34 490.81 14.13% 339.74
Nationwide -5.23 469.20 -1.11% 60.44
BNY Mellon 20.29 421.36 4.82% 148.58
Merk 9.25 402.69 2.30% 184.70
Tortoise 32.39 397.31 8.15% -17.38
Timothy Plan 2.62 373.39 0.70% 90.64
Al Marketing LLC -9.47 372.61 -2.54% -50.68
Sprott, Inc. 4.82 354.69 1.36% 53.07
WBI -12.26 333.72 -3.67% -124.54
Goldman Sachs Group, Inc. -0.11 322.51 -0.03% -0.11
Teucrium -17.76 320.47 -5.54% 115.78
Liquid Strategies 1.44 283.94 0.51% 152.04
ClearShares 10.01 277.93 3.60% 67.79
Redwood Investment Management 26.36 267.22 9.86% 121.98
Howard Capital Management 3.48 263.46 1.32% 93.63
SRN Advisors 5.83 247.48 2.35% 95.35
Regents Park Funds -2.08 237.30 -0.87% 128.34
Roundhill Investments 5.64 212.71 2.65% 143.97
Swedish Export Credit -1.02 210.00 -0.49% -33.06
Distillate Capital 0.00 200.04 0.00% 111.33
TrimTabs -10.31 191.90 -5.37% 36.02
EntrepreneurShares, LLC 0.00 189.36 0.00% 24.49
Intangible Capital -0.01 169.52 -0.01% 1.31
AGF -33.25 164.04 -20.27% 72.01
Strategy Shares 33.50 142.52 23.51% 108.11
Core Alternative Capital 13.91 139.79 9.95% 25.70
Tuttle Tactical Management, LLC 6.63 135.89 4.88% 111.55
Donald L. Hagan LLC 3.50 129.66 2.70% 109.60
T. Rowe Price Group, Inc. 24.47 122.51 19.97% 52.19
OBP Capital LLC 10.24 117.54 8.71% 43.72
Arrow Funds -0.97 104.14 -0.93% -12.50
Simplify Asset Management Inc. 61.59 90.81 67.83% 75.60
Gadsden 1.17 88.74 1.32% 29.47
Cboe Vest Financial LLC 7.19 82.40 8.73% 25.81
Exponential ETFs 0.00 81.60 0.00% 0.35
Natixis 1.58 71.21 2.21% 0.92
iM Global Partner 0.00 63.43 0.00% 27.27
Emles Advisors LLC 1.83 60.67 3.01% 43.87
Syntax Advisors 3.74 59.68 6.28% -27.51
Wahed Invest LLC 4.64 58.88 7.89% 26.95
TrueMark Investments 2.50 56.65 4.41% 48.67
Pacific Life 0.00 56.58 0.00% 0.00
Highland Capital Management 4.67 55.86 8.36% -210.52
CornerCap Investment Counsel, Inc. 9.23 54.38 16.97% 49.42
Metaurus Advisors 0.01 50.97 0.02% 0.01
Premise Capital -2.83 50.70 -5.58% 8.31
Toews Corp. -0.49 50.36 -0.98% 43.61
Advisors Asset Management 1.70 41.41 4.11% -1.37
Pettee Investors 0.81 39.61 2.05% 25.40
Absolute Investment Advisers LLC 0.59 34.79 1.69% 31.75
ProcureAM 0.00 34.39 0.00% 19.21
Impact Shares 7.12 34.22 20.80% 17.41
Beyond Investing 1.65 33.07 4.98% 16.52
Change Finance 4.01 29.32 13.67% 11.95
Little Harbor Advisors -0.61 23.77 -2.55% 24.71
AlphaMark Advisors 0.00 22.51 0.00% 0.00
ETF Series Solutions 0.00 22.49 0.00% 8.14
Neil Azous Revocable Trust 5.07 18.32 27.66% -2.45
Esoterica 3.49 16.85 20.73% 7.67
Truist 4.30 15.44 27.86% 13.38
Counterpoint Mutual Funds LLC 0.00 12.49 0.00% 12.90
The Leuthold Group LLC 0.00 12.42 -0.03% 11.42
Alternative Access Funds LLC 0.00 9.99 0.00% 9.98
Point Bridge Capital 0.00 9.73 0.00% -4.78
Sage 0.00 7.90 0.00% -10.50
Global Beta Advisors 0.00 7.21 0.00% -0.30
Water Island Capital Partners LP 0.00 6.60 0.01% 3.75
EquBot 0.00 5.96 0.00% 1.56
Guinness Atkinson Asset Management 0.00 5.12 0.00% 1.04
Whitford Asset Management 0.00 2.72 0.00% -1.07
Reflection Asset Management, LLC 2.03 2.20 92.04% 2.03

 

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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