ETFs Add $55B In Sept

October 01, 2021

Flows into the U.S.-listed ETF industry slowed from $66.8 billion in August to just under $55.5 billion in September, as the traditional worst month of the year for returns was matched with bouts of volatility.

U.S. ETFs have gained more than $647.8 billion in inflows as of the end of the third quarter, according to ETF.com data provider FactSet, while assets under management now stand just short of $6.65 trillion.

Growth Fears, Volatility Shake Equities

After months of near-constant bullish sentiment, the ongoing COVID-19 pandemic and fears of defaults from both the Chinese megadeveloper Evergrande and the U.S. government led to two days of sell-offs above 1.5% in the S&P 500.

The iShares Core S&P 500 ETF (IVV) had the most outflows off the month, with nearly $3.1 billion pulled and a quarter of its year-to-date gains erased, followed by the Financial Select Sector SPDR Fund (XLF), with $1.5 billion in outflows.

Tech ETFs were also caught in sell-offs amid a late spike in bond yields and a Federal Reserve meeting that signaled continued confidence toward a taper of its bond-buying program and an eventual rate hike. The 10-year Treasury yield started the month at 1.28% before rising to a high of 1.55% in the final week of September.

The ARK Innovation ETF (ARKK) saw $902 million in outflows for a loss of almost 4.7% of its assets under management, while the Technology Select Sector SPDR Fund (XLK) lost $721.4 million.

Yet investors continued to drive net inflows into broad vanilla indexes on the month. The SPDR S&P 500 ETF Trust (SPY) was far and away the largest gainer, with nearly $7.5 billion added in the month, followed by the Vanguard S&P 500 ETF (VOO) and Vanguard Total Stock Market ETF (VTI), with inflows of $3.8 billion and $3.8 billion, respectively.

Leveraged Funds Reverse YTD Outflows

Dip-buyers took aggressive positions within leveraged ETFs during bouts of volatility this month. The leveraged ETF class ended August with a net outflow of almost $1.1 billion on the year, but gained $4.5 billion in September to end the month with a year-to-date inflow of $3.5 billion.

The leading ETF in the segment was the ProShares UltraPro QQQ (TQQQ), which gained a net $2.9 billion in new assets on the month and reversed the $1.3 billion in outflows it had coming into the month.

For a full list of this month’s top inflows and outflows, see the tables below:

 

Top Gainers (September 2021)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM YTD 2021 Net Flows($,M)
SPY SPDR S&P 500 ETF Trust State Street Global Advisors 7,447.50 390,986.53 1.90% 10,452.90
VOO Vanguard S&P 500 ETF Vanguard 3,883.61 249,759.92 1.55% 40,472.29
VTI Vanguard Total Stock Market ETF Vanguard 3,843.99 265,719.50 1.45% 31,679.99
TQQQ ProShares UltraPro QQQ ProShares 2,901.99 14,959.44 19.40% 1,672.54
IYR iShares U.S. Real Estate ETF Blackrock 2,337.23 7,431.63 31.45% 1,184.76
BND Vanguard Total Bond Market ETF Vanguard 1,396.87 81,987.92 1.70% 15,917.43
XLE Energy Select Sector SPDR Fund State Street Global Advisors 1,333.32 25,446.13 5.24% 5,843.34
BSV Vanguard Short-Term Bond ETF Vanguard 1,123.96 42,165.55 2.67% 12,975.03
VXUS Vanguard Total International Stock ETF Vanguard 1,106.09 49,908.34 2.22% 9,693.40
AGG iShares Core U.S. Aggregate Bond ETF Blackrock 1,076.86 89,462.51 1.20% 6,657.68

 

Top Gainers (Year-to-Date)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM September 2021 Net Flows($,M)
VOO Vanguard S&P 500 ETF Vanguard 40,472.29 249,759.92 16.20% 3,883.61
VTI Vanguard Total Stock Market ETF Vanguard 31,679.99 265,719.50 11.92% 3,843.99
BND Vanguard Total Bond Market ETF Vanguard 15,917.43 81,987.92 19.41% 1,396.87
BSV Vanguard Short-Term Bond ETF Vanguard 12,975.03 42,165.55 30.77% 1,123.96
VTV Vanguard Value ETF Vanguard 12,488.04 84,040.22 14.86% 1,052.18
IVV iShares Core S&P 500 ETF Blackrock 11,909.52 290,363.83 4.10% -3,088.05
IEMG iShares Core MSCI Emerging Markets ETF Blackrock 10,719.76 78,224.29 13.70% 986.72
SPY SPDR S&P 500 ETF Trust State Street Global Advisors 10,452.90 390,986.53 2.67% 7,447.50
VXUS Vanguard Total International Stock ETF Vanguard 9,693.40 49,908.34 19.42% 1,106.09
IUSB iShares Core Total USD Bond Market ETF Blackrock 9,688.87 15,510.82 62.47% 273.55

 

Biggest Losers (September 2021)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM YTD 2021 Net Flows($,M)
IVV iShares Core S&P 500 ETF Blackrock -3,088.05 290,363.83 -1.06% 11,909.52
XLF Financial Select Sector SPDR Fund State Street Global Advisors -1,517.95 41,563.47 -3.65% 8,188.85
LQD iShares iBoxx USD Investment Grade Corporate Bond ETF Blackrock -1,341.52 40,867.16 -3.28% -12,589.84
XLV Health Care Select Sector SPDR Fund State Street Global Advisors -1,020.08 31,137.04 -3.28% 2,159.33
XLI Industrial Select Sector SPDR Fund State Street Global Advisors -990.83 17,571.39 -5.64% -792.52
XLP Consumer Staples Select Sector SPDR Fund State Street Global Advisors -978.81 12,003.85 -8.15% -1,600.43
DIA SPDR Dow Jones Industrial Average ETF Trust State Street Global Advisors -916.03 28,857.11 -3.17% 1,466.36
ARKK ARK Innovation ETF ARK -902.25 19,275.57 -4.68% 5,282.84
QUAL iShares MSCI USA Quality Factor ETF Blackrock -836.68 23,273.38 -3.59% -1,091.63
XLK Technology Select Sector SPDR Fund State Street Global Advisors -721.37 43,172.68 -1.67% -848.85

 

Biggest Losers (Year-to-Date)

Ticker Name Issuer Net Flows ($,mm) AUM ($M) % of AUM September 2021 Net Flows($,M)
LQD iShares iBoxx USD Investment Grade Corporate Bond ETF Blackrock -12,589.84 40,867.16 -30.81% -1,341.52
GLD SPDR Gold Trust State Street Global Advisors -10,055.61 55,275.95 -18.19% -563.34
USMV iShares MSCI USA Min Vol Factor ETF Blackrock -8,701.83 27,237.83 -31.95% -285.43
HYG iShares iBoxx USD High Yield Corporate Bond ETF Blackrock -6,485.76 19,414.78 -33.41% -552.17
SHV iShares Short Treasury Bond ETF Blackrock -3,838.99 13,986.19 -27.45% -347.97
JNK SPDR Bloomberg Barclays High Yield Bond ETF State Street Global Advisors -3,535.53 9,049.99 -39.07% -415.70
EFAV iShares MSCI EAFE Min Vol Factor ETF Blackrock -2,660.07 8,231.03 -32.32% -46.86
USO United States Oil Fund LP Concierge Technologies -2,523.11 2,606.78 -96.79% -261.36
IVW iShares S&P 500 Growth ETF Blackrock -2,091.55 35,321.94 -5.92% -176.19
IHI iShares U.S. Medical Devices ETF Blackrock -1,900.78 8,495.40 -22.37% 188.91

 

Asset Classes (September 2021)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 25,516.16 3,917,306.70 0.65%
International Equity 9,192.66 1,262,651.33 0.73%
U.S. Fixed Income 13,961.97 1,084,000.53 1.29%
International Fixed Income 1,293.41 149,052.95 0.87%
Commodities -811.69 134,065.00 -0.61%
Currency -25.09 1,884.82 -1.33%
Leveraged 4,549.83 62,140.89 7.32%
Inverse 538.38 13,123.76 4.10%
Asset Allocation 633.99 18,458.28 3.43%
Alternatives 121.20 6,815.49 1.78%
Total: 54,970.83 6,649,499.74 0.83%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 306,386.63 3,917,306.70 7.82%
International Equity 171,209.31 1,262,651.33 13.56%
U.S. Fixed Income 129,493.54 1,084,000.53 11.95%
International Fixed Income 28,748.03 149,052.95 19.29%
Commodities -4,077.92 134,065.00 -3.04%
Currency 17.75 1,884.82 0.94%
Leveraged 3,475.91 62,140.89 5.59%
Inverse 5,689.07 13,123.76 43.35%
Asset Allocation 4,190.83 18,458.28 22.70%
Alternatives 2,680.53 6,815.49 39.33%
Total: 647,813.69 6,649,499.74 9.74%

 

September 2021 ETF Issuer League Table

Issuer Net Flows ($,M) AUM ($,M) % of AUM YTD 2021 Net Flows($,M)
Blackrock 9,387.60 2,312,688.69 0.41% 131,010.13
Vanguard 22,726.58 1,915,197.92 1.19% 253,820.58
State Street Global Advisors 4,249.25 998,153.56 0.43% 53,805.80
Invesco 1,235.11 367,351.68 0.34% 36,438.87
Charles Schwab 3,719.36 253,411.05 1.47% 31,837.53
First Trust 1,525.70 138,606.23 1.10% 18,648.85
JPMorgan Chase 1,208.49 68,987.27 1.75% 20,822.60
ProShares 3,530.39 60,686.31 5.82% 8,422.27
VanEck 321.97 58,935.86 0.55% 7,918.69
WisdomTree 334.94 45,027.07 0.74% 3,137.01
ARK -1,859.17 38,283.31 -4.86% 11,659.72
Mirae Asset Global Investments Co., Ltd. 1,449.68 37,995.54 3.82% 15,882.30
Dimensional Holdings 460.19 31,889.15 1.44% 2,611.04
Fidelity 194.72 30,915.68 0.63% 4,017.56
Allianz 634.78 27,462.37 2.31% 1,536.25
Direxion 1,579.25 25,175.76 6.27% 1,781.70
Goldman Sachs 309.95 24,809.69 1.25% 623.27
Deutsche Bank 542.49 23,111.87 2.35% 2,045.96
Northern Trust -122.62 18,442.41 -0.66% 2,847.69
CICC 1,187.75 13,227.86 8.98% 9,566.10
Franklin Templeton 114.20 9,336.20 1.22% 329.27
SS&C -113.11 8,737.87 -1.29% 49.48
Pacer Advisors 210.72 8,539.51 2.47% 2,028.12
American Century Investments 158.11 8,001.58 1.98% 3,477.66
Exchange Traded Concepts 328.55 7,559.79 4.35% 2,086.25
ETFMG 4.97 6,729.41 0.07% 1,294.43
Crestview -57.24 6,601.60 -0.87% 309.13
Standard Life Aberdeen -13.44 6,548.56 -0.21% 765.06
Innovator 95.84 5,609.17 1.71% 1,283.74
Principal 64.96 5,442.11 1.19% 1,079.88
Manulife 19.42 5,067.66 0.38% -576.49
Nuveen Securities 53.57 4,721.53 1.13% 1,692.91
New York Life 75.72 4,553.46 1.66% 492.25
Amplify Investments -3.50 4,416.75 -0.08% 1,335.88
Janus Henderson 32.12 4,154.20 0.77% 229.49
The Hartford -81.41 4,129.45 -1.97% 268.00
Concierge Technologies -279.63 3,977.36 -7.03% -2,928.01
US Global Investors 224.99 3,869.76 5.81% 698.62
Barclays -47.12 3,253.17 -1.45% 1,440.23
BMO 162.29 3,105.07 5.23% 615.25
Toroso Investments 117.91 2,641.08 4.46% 1,022.57
Prudential 37.26 2,110.42 1.77% 734.88
AdvisorShares 58.48 2,083.13 2.81% 1,407.99
Ameriprise Financial 55.14 1,684.37 3.27% 426.13
Aptus Capital Advisors 120.53 1,611.11 7.48% 594.27
O’Shares Investments -21.70 1,498.81 -1.45% -21.71
GraniteShares 16.61 1,496.89 1.11% 188.22
Defiance ETFs 13.79 1,488.69 0.93% 427.01
Vident 0.74 1,454.47 0.05% -39.76
Virtus Investment Partners 18.76 1,326.04 1.41% 357.12
UBS -14.94 1,234.12 -1.21% -72.68
Davis Advisers -9.46 1,232.40 -0.77% 115.04
Rational Capital LLC 190.89 1,201.21 15.89% 990.55
Cambria 8.57 1,108.77 0.77% 249.80
Inspire 18.95 1,056.15 1.79% 231.37
Nationwide 103.22 1,029.21 10.03% 516.55
Main Management 8.84 1,023.01 0.86% 258.48
The Bank of New York Mellon Corp. 66.57 1,022.97 6.51% 441.47
Credit Suisse Group AG 1.51 1,003.62 0.15% 284.20
EMPIRICAL FINANCE LLC 13.32 989.63 1.35% 279.86
Aegon -4.47 782.81 -0.57% -45.90
Simplify Asset Management Inc. 86.24 716.81 12.03% 570.90
The Motley Fool 7.59 692.82 1.10% 82.98
Horizon Kinetics LLC 34.98 692.43 5.05% 674.22
Roundhill Investments 47.31 600.84 7.87% 328.17
Howard Capital Management 28.25 543.28 5.20% 194.92
Merk 58.60 541.86 10.82% 142.14
Renaissance Capital -11.91 519.05 -2.30% -217.23
Redwood Investment Management 64.16 510.48 12.57% 53.82
Timothy Plan 8.73 494.40 1.76% 50.18
Tortoise -19.13 482.39 -3.97% -16.08
TrimTabs 21.27 439.91 4.84% 29.77
T. Rowe Price Group, Inc. 21.34 429.66 4.97% 231.46
Liquid Strategies 8.63 421.70 2.05% 105.89
Distillate Capital 7.38 403.46 1.83% 145.47
ProFund Advisors LLC 27.72 363.89 7.62% 362.07
Regents Park Funds 2.49 353.78 0.70% 81.07
SRN Advisors 3.36 352.40 0.95% 49.79
ClearShares LLC 9.97 348.58 2.86% 99.46
Al Marketing LLC -6.52 333.55 -1.95% -57.04
Sprott -2.01 311.39 -0.64% 17.90
Donald L. Hagan LLC 21.30 299.36 7.12% 130.89
Government of Sweden -6.26 283.67 -2.21% -12.25
WBI 0.00 283.21 0.00% -6.79
Teucrium -15.76 274.65 -5.74% -112.28
Little Harbor Advisors 36.93 250.64 14.74% 185.77
Core Alternative Capital 17.83 228.79 7.79% 82.57
Mcivy Co. LLC 4.59 205.57 2.23% 126.19
Intangible Capital 2.46 197.17 1.25% 4.94
Cavalier16 7.11 195.57 3.63% 45.57
Syntax Advisors 0.03 191.66 0.02% 48.08
TrueMark Investments -0.18 174.55 -0.10% 98.36
Capital Impact Advisors 0.00 171.99 0.00% -7.14
Impact Shares 9.68 164.57 5.88% 123.93
Wahed 10.76 144.09 7.47% 65.41
Advisors Asset Management 10.82 143.76 7.53% 95.05
Tuttle Tactical Management, LLC -4.27 143.53 -2.98% -3.52
Arrow Funds 9.72 137.92 7.05% 7.03
ProcureAM -5.48 123.59 -4.43% 70.26
Gadsden 0.64 117.53 0.54% 19.43
Swan Global Investments 8.43 116.50 7.23% 111.71
Kingsview Partners LLC 2.71 113.79 2.38% 106.15
Wainwright, Inc. 4.27 111.66 3.83% 94.52
AGF -0.37 108.00 -0.34% -15.38
CornerCap Investment Counsel, Inc. -1.01 103.68 -0.97% 28.06
Humankind USA LLC 5.67 96.33 5.89% 87.59
Emles Advisors LLC -0.88 93.13 -0.94% 24.64
Change Finance 3.27 91.92 3.56% 51.99
Neil Azous Revocable Trust 23.58 87.58 26.92% 66.32
Pettee Investors 2.05 81.21 2.52% 27.94
Exponential ETFs 0.00 79.66 0.00% 1.20
Metaurus Advisors 3.98 70.37 5.65% 10.91
Groupe BPCE -8.43 64.57 -13.06% 9.62
Beyond Investing 2.03 63.35 3.20% 20.68
Alger Group Holdings LLC 2.56 52.03 4.93% 41.75
Guinness Atkinson Asset Management -2.07 51.39 -4.03% 13.00
Toews Corp. 1.42 50.80 2.80% 1.80
Absolute Investment Advisers LLC 0.00 50.74 0.00% 10.53
Alexis Investment Partners LLC 2.58 42.51 6.07% 25.31
Infusive Asset Management -1.69 42.21 -3.99% 6.84
Esoterica -3.01 41.11 -7.31% 17.77
ETF Series Solutions 5.02 40.12 12.51% 11.02
Rayliant Investment Research 1.92 39.49 4.87% 40.68
Premise Capital 0.00 39.48 0.00% -14.10
Formidable Asset Management 1.28 39.38 3.26% 39.67
Highland Capital Management -3.23 38.63 -8.35% -14.62
2nd Vote Value Investments, Inc 1.70 38.10 4.47% 30.41
Inverdale Capital Management LLC 2.68 37.95 7.05% 31.50
Red Gate Advisers LLC 0.40 36.07 1.11% 6.27
Cabot ETF Partners LLC -0.82 31.92 -2.56% 32.34
Pacific Life 0.00 31.77 0.00% 2.44
New Age Alpha Advisors LLC 18.77 29.08 64.53% 27.31
Ridgeline Research LLC 4.98 27.47 18.12% 23.92
AlphaMark Advisors 0.00 26.04 0.00% -1.41
Power Corporation of Canada -0.72 25.42 -2.82% 2.77
Truist 0.00 25.16 0.00% 2.38
Uncommon Investment Advisors LLC 1.05 24.80 4.24% 23.89
Knights of Columbus 1.77 22.55 7.87% 23.13
MCCM Group LLC -1.79 18.05 -9.93% 30.40
Changebridge Capital LLC 0.56 17.85 3.12% 10.96
The Leuthold Group LLC 0.00 15.12 0.00% 1.43
Mairs & Power, Inc. 0.76 15.00 5.05% 15.06
Applied Finance Group 0.67 14.98 4.50% 13.84
ASYMmetric ETFs 1.66 14.82 11.22% 14.75
GAMCO Investors, Inc. 0.00 14.06 0.00% 7.55
Point Bridge Capital 0.94 13.80 6.79% 1.94
EquBot 0.00 11.68 0.00% 4.82
Future Fund Advisors 7.07 11.23 63.01% 11.61
Alternative Access Funds LLC 0.00 10.03 0.00% 0.00
Whitford Asset Management 0.00 9.38 0.00% 5.85
Counterpoint Mutual Funds LLC 0.00 9.05 0.00% -3.60
Water Island Capital Partners LP 0.00 7.84 0.03% 1.29
Jacob Asset Management 0.41 7.29 5.59% 7.47
Charger Corp. 6.73 6.38 105.52% 6.73
Global Beta Advisors 0.02 4.96 0.30% -2.97
Reflection Asset Management, LLC 0.73 4.91 14.94% 2.02
Spear Advisors LLC 2.04 4.01 50.76% 4.05
Democracy Investment Management LLC 0.00 3.86 -0.01% 3.28
Lifegoal Investments LLC 1.74 2.92 59.59% 1.74
Zacks Investment Management 1.24 1.91 64.88% 1.97
Wilshire Phoenix Funds LLC 0.00 1.73 0.00% 0.00
Chadds Ford Investment Management LLC 0.00 0.74 0.00% 0.75
Lyrical Partners 0.00 0.63 0.00% 0.00
Litman Gregory Capital Partners LLC 2.82 0.00 0.00% 20.26
Eaton Vance Corp. 0.00 0.00 0.00% 0.00
Cohanzick Management 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.

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