ETFs See Sept. Tsunami Of New Assets

October 01, 2018

Fresh record highs in the U.S. stock market helped ETFs gather their second-largest monthly inflow of the year in September. On net, $36.7 billion of new money entered U.S.-listed ETFs during the month, the biggest amount since January’s $68.1 billion haul, according to the latest data from FactSet.

Year-to-date inflows now stand at $208.8 billion.

As has been the case recently, U.S. equity ETFs took in the bulk of investors’ dollars during September. That segment had net inflows of $28.6 billion, dwarfing the $338 million that went into international equity ETFs.

The S&P 500 reached a record 2,941 during the month thanks to an accelerating U.S. economy, strong corporate profits and a trade agreement between the U.S., Mexico and Canada.

The SPDR S&P 500 ETF Trust (SPY), the Vanguard S&P 500 ETF (VOO), and the iShares Russell 2000 ETF (IWM) were among the biggest flows winners during the month.

More targeted U.S. equity ETFs to pull in money were the Communication Services Select Sector SPDR Fund (XLC), the Health Care Select Sector SPDR Fund (XLV) and the First Trust NYSE Arca Biotechnology Index Fund (FBT).

Fixed Income Popular Despite Rising Rates

After U.S. equities, the segment to see the largest inflows was U.S. fixed-income ETFs. They pulled in $5.4 billion during the month even as the Federal Reserve hiked rates again, and yields on 10- and 30-year Treasuries leapt close to their highest levels of the year.

The iShares 20+ Year Treasury Bond ETF (TLT) took in $2.4 billion, despite tumbling more than 3% during the period.

International fixed-income ETFs attracted inflows to the tune of $1.7 billion, led by the iShares JP Morgan USD Emerging Markets Bond ETF (EMB).

But not all fixed-income ETFs were as popular as TLT and EMB. The iShares iBoxx USD High Yield Corporate Bond ETF (HYG), the iShares Short Treasury Bond ETF (SHV) and the iShares U.S. Preferred Stock ETF (PFF) found themselves on the top outflows list as rising rates weighed on the funds.

At the same time, the iShares MSCI EAFE ETF (EFA), the iShares MSCI Japan ETF (EWJ) and the iShares Russell 1000 Growth ETF (IWF) were a few equity ETFs to also fall out of favor.

For a full list of the top inflows and outflows for September, see the tables below:

 

Top Gainers (September 2018)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM YTD 2018 Net Flows($,M)
SPY SPDR S&P 500 ETF Trust State Street Global Advisors 5,111.34 280,328.18 1.86% -18,218.45
VOO Vanguard S&P 500 ETF Vanguard 4,420.26 104,424.64 4.42% 12,782.63
TLT iShares 20+ Year Treasury Bond ETF BlackRock 2,443.35 9,764.75 33.37% 3,191.40
IWM iShares Russell 2000 ETF BlackRock 2,402.11 49,657.37 5.08% 2,305.35
XLC Communication Services Select Sector SPDR Fund State Street Global Advisors 1,477.20 1,993.19 286.29% 1,956.98
VTI Vanguard Total Stock Market ETF Vanguard 1,147.39 107,039.70 1.08% 5,971.97
XLV Health Care Select Sector SPDR Fund State Street Global Advisors 827.92 19,542.62 4.42% 650.94
VEA Vanguard FTSE Developed Markets ETF Vanguard 822.51 71,728.00 1.16% 5,493.65
FBT First Trust NYSE Arca Biotechnology Index Fund First Trust 782.76 3,133.21 33.30% 1,521.36
EMB iShares JP Morgan USD Emerging Markets Bond ETF BlackRock 751.17 14,539.51 5.45% 3,185.85

 

Top Gainers (Year-to-Date)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM September 2018 Net Flows($,M)
IEFA iShares Core MSCI EAFE ETF BlackRock 19,245.76 59,667.53 47.61% 535.12
VOO Vanguard S&P 500 ETF Vanguard 12,782.63 104,424.64 13.95% 4,420.26
IEMG iShares Core MSCI Emerging Markets ETF BlackRock 11,090.42 49,261.91 29.05% 403.78
IVV iShares Core S&P 500 ETF BlackRock 10,601.33 165,121.07 6.86% 463.34
SHV iShares Short Treasury Bond ETF BlackRock 6,704.91 14,715.77 83.70% -529.74
VTI Vanguard Total Stock Market ETF Vanguard 5,971.97 107,039.70 5.91% 1,147.39
VTV Vanguard Value ETF Vanguard 5,839.92 44,426.73 15.13% 400.94
IJR iShares Core S&P Small Cap ETF BlackRock 5,552.63 46,747.44 13.48% 580.39
VEA Vanguard FTSE Developed Markets ETF Vanguard 5,493.65 71,728.00 8.29% 822.51
AGG iShares Core U.S. Aggregate Bond ETF BlackRock 4,857.52 55,985.84 9.50% 201.21

 

Biggest Losers (September 2018)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM YTD 2018 Net Flows($,M)
HYG iShares iBoxx USD High Yield Corporate Bond ETF BlackRock -2,034.76 15,104.08 -11.87% -2,412.78
EFA iShares MSCI EAFE ETF BlackRock -1,173.07 71,108.58 -1.62% -11,758.98
EWJ iShares MSCI Japan ETF BlackRock -737.49 16,606.66 -4.25% -2,298.54
IWF iShares Russell 1000 Growth ETF BlackRock -655.01 44,539.86 -1.45% -2,032.36
SHV iShares Short Treasury Bond ETF BlackRock -529.74 14,715.77 -3.47% 6,704.91
GLD SPDR Gold Trust State Street Global Advisors -488.96 28,279.32 -1.70% -3,636.87
PFF iShares U.S. Preferred Stock ETF BlackRock -437.21 16,431.50 -2.59% -861.14
EELV Invesco S&P Emerging Markets Low Volatility ETF Invesco -415.23 266.71 -60.89% 33.74
XLI Industrial Select Sector SPDR Fund State Street Global Advisors -407.10 12,958.93 -3.05% 20.82
SCZ iShares MSCI EAFE Small-Cap ETF BlackRock -396.31 10,251.28 -3.72% 83.50

 

Biggest Losers (Year-to-Date)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM September 2018 Net Flows($,M)
SPY SPDR S&P 500 ETF Trust State Street Global Advisors -18,218.45 280,328.18 -6.10% 5,111.34
EFA iShares MSCI EAFE ETF BlackRock -11,758.98 71,108.58 -14.19% -1,173.07
EZU iShares MSCI Eurozone ETF BlackRock -5,549.91 9,308.51 -37.35% -375.26
EEM iShares MSCI Emerging Markets ETF BlackRock -5,045.84 31,159.16 -13.94% 77.24
IWD iShares Russell 1000 Value ETF BlackRock -4,330.64 37,622.10 -10.32% -344.85
GLD SPDR Gold Trust State Street Global Advisors -3,636.87 28,279.32 -11.40% -488.96
DXJ WisdomTree Japan Hedged Equity Fund WisdomTree -3,446.29 5,709.18 -37.64% 178.52
LQD iShares iBoxx USD Investment Grade Corporate Bond ETF BlackRock -3,102.31 34,028.68 -8.36% 250.88
IGIB iShares Intermediate-Term Corporate Bond ETF BlackRock -2,977.02 5,783.22 -33.98% -39.83
JNK SPDR Bloomberg Barclays High Yield Bond ETF State Street Global Advisors -2,822.21 9,614.26 -22.69% -143.36

 

Asset Classes (September 2018)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 28,617.47 2,178,153.46 1.31%
International Equity 338.28 799,460.39 0.04%
U.S. Fixed Income 5,360.68 570,539.43 0.94%
International Fixed Income 1,724.21 65,445.37 2.63%
Commodities  141.01 59,367.37 0.24%
Currency -10.58 1,095.10 -0.97%
Leveraged 233.95 37,540.83 0.62%
Inverse -12.17 12,885.13 -0.09%
Asset Allocation 26.49 9,494.80 0.28%
Alternatives 256.29 4,847.56 5.29%
Total: 36,675.63 3,738,829.42 0.98%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 98,652.88 2,178,153.46 4.53%
International Equity 36,162.77 799,460.39 4.52%
U.S. Fixed Income 58,804.34 570,539.43 10.31%
International Fixed Income 9,468.92 65,445.37 14.47%
Commodities  -1,312.02 59,367.37 -2.21%
Currency -92.76 1,095.10 -8.47%
Leveraged 3,098.99 37,540.83 8.25%
Inverse 2,643.65 12,885.13 20.52%
Asset Allocation 670.33 9,494.80 7.06%
Alternatives 727.97 4,847.56 15.02%
Total: 208,825.07 3,738,829.42 5.59%

 

September 2018 League Table

Issuer Net Flows ($,M) AUM ($,M) % of AUM YTD 2018 Net Flows($,M)
BlackRock 7,924.49 1,446,218.31 0.55% 70,761.39
Vanguard 10,566.18 940,474.64 1.12% 60,603.00
State Street Global Advisors 10,477.10 651,481.09 1.61% -874.32
Invesco 1,926.02 199,054.13 0.97% 8,302.54
Charles Schwab 1,055.33 125,105.64 0.84% 22,144.27
First Trust 1,476.71 73,651.37 2.01% 12,361.97
WisdomTree 190.84 41,587.70 0.46% -4,262.87
VanEck 204.77 34,069.75 0.60% 3,533.66
ProShares 180.77 31,509.18 0.57% 2,441.08
PIMCO 487.83 17,427.87 2.80% 2,774.29
Northern Trust -111.38 16,406.71 -0.68% 363.98
JPMorgan 298.19 14,968.59 1.99% 8,569.06
ALPS -60.54 14,023.96 -0.43% -343.31
Fidelity 171.10 12,599.90 1.36% 2,862.43
Deutsche Bank -122.19 12,586.12 -0.97% -775.07
Direxion -50.22 12,404.87 -0.40% 596.84
Mirae Asset Global Investments 17.81 10,249.16 0.17% 2,151.54
Goldman Sachs 440.37 9,779.47 4.50% 3,124.38
UBS 26.46 7,482.92 0.35% -8.18
Barclays Bank PLC 119.93 5,754.62 2.08% 2,245.87
Exchange Traded Concepts -10.35 5,339.42 -0.19% 451.94
Credit Suisse 173.01 4,503.79 3.84% 576.33
IndexIQ -88.93 4,092.18 -2.17% 562.16
ETF Managers Group 231.67 3,604.26 6.43% 1,412.46
The Principal Financial Group -180.88 3,434.92 -5.27% 1,073.39
Victory Capital Management 126.08 3,289.96 3.83% 934.47
OppenheimerFunds 66.78 3,185.26 2.10% 560.98
Pacer Financial 123.97 2,997.30 4.14% 1,265.46
US Commodity Funds 1.66 2,898.42 0.06% -1,128.87
ARK 87.43 2,684.82 3.26% 1,497.18
Aberdeen Asset Management -13.69 2,190.12 -0.63% -216.98
KraneShares 249.20 1,993.74 12.50% 796.58
Franklin Templeton Investments -2.37 1,610.47 -0.15% 600.72
John Hancock 11.44 1,482.67 0.77% 319.48
Hartford 286.41 1,412.56 20.28% 1,083.12
Northern Lights 78.04 1,198.99 6.51% 383.63
USAA Asset Management 6.95 1,161.81 0.60% 826.01
Virtus -16.65 978.58 -1.70% 23.93
Millington Securities Inc -9.26 908.35 -1.02% -77.64
Innovator Capital Management 59.99 837.42 7.16% 273.66
Columbia -65.33 831.60 -7.86% -319.08
Transamerica -4.52 825.30 -0.55% -61.15
AdvisorShares -12.87 803.53 -1.60% -74.97
Janus Henderson 92.09 788.85 11.67% 498.02
Amplify 17.49 762.19 2.29% 509.56
CitiGroup 10.20 722.22 1.41% 103.39
Cambria 2.64 704.44 0.37% 28.19
OSI ETF Trust -1.36 668.10 -0.20% -62.14
Nuveen 22.83 626.56 3.64% 199.35
Highland Capital Management 71.19 626.07 11.37% 60.26
Davis 13.01 606.08 2.15% 242.02
Alpha Architect -1.46 505.62 -0.29% 174.97
Nationwide Fund Advisors -6.47 373.38 -1.73% 2.86
BMO 0.00 366.92 0.00% 76.84
GraniteShares 14.51 345.42 4.20% 337.99
Strategy Shares 63.79 329.69 19.35% 241.55
Reality Shares -10.59 256.63 -4.13% 155.79
Aptus Capital Advisors 5.71 216.23 2.64% 141.72
Arrow Investment Advisors -1.41 179.07 -0.79% 12.46
Montage Managers 0.00 168.61 0.00% 46.78
TrimTabs Asset Management 14.96 150.38 9.95% 93.51
The RBB Fund 8.25 148.81 5.55% 131.48
ClearShares -1.35 138.78 -0.98% 23.65
Merk -4.09 130.52 -3.13% 6.66
US Global Investors -1.60 111.19 -1.44% -0.85
PGIM Investments 13.77 90.20 15.27% 40.05
EntrepreneurShares, LLC 1.83 83.05 2.20% 16.29
Exponential ETFs -0.01 69.49 -0.01% 13.38
American Century 16.61 63.76 26.04% 35.21
OBP Capital LLC 0.00 53.62 0.00% 3.80
Natixis 2.17 47.00 4.62% 9.37
Point Bridge Capital 0.00 39.05 0.00% 4.38
Premise Capital 1.56 35.56 4.38% 15.10
AlphaMark Advisors -1.35 26.51 -5.10% -1.35
Validea Capital Management 0.00 26.47 0.01% 0.03
Diamond Hill 1.74 24.17 7.18% 3.26
FQF Trust -0.72 22.84 -3.14% -4.12
Morgan Stanley 0.00 22.09 0.00% -8.50
Renaissance Capital 0.04 21.94 0.18% 0.04
Metaurus Advisors 0.00 19.93 0.02% 13.45
Active Weighting Advisors 0.58 17.81 3.24% 1.77
Advisors Asset Management 2.77 17.35 15.99% 12.10
Cboe Vest Financial 3.23 14.88 21.71% 14.42
Sage Advisory Services 0.00 14.51 0.00% 4.84
USCF Advisers 0.00 11.82 0.00% 0.14
CSOP 0.71 10.46 6.77% 3.49
SL Advisors 1.29 10.13 12.75% 6.50
StrongVest 0.00 8.69 0.00% 0.00
Regents Park Funds 1.21 7.34 16.52% 4.92
TriLine Index Solutions 0.00 6.68 0.00% 6.25
Little Harbor Advisors 0.65 6.54 10.00% 6.30
Impact Shares 2.00 6.18 32.38% 6.10
Defiance ETFs 2.50 5.00 50.03% 5.00
SerenityShares 0.00 4.44 0.00% 0.00
Change Finance 0.00 4.11 0.00% 0.96
EquBot 0.00 3.79 0.00% 3.74
Salt Financial -0.63 2.56 -24.57% 2.49
Whitford Asset Management 0.00 0.63 0.00% -1.91
Legg Mason -- -- 0.00% 142.50
Swedish Export Credit -- -- 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.

 

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