ETFs Add $23B in September

Oct 03, 2022

Reviewed by: Shubham Saharan

Edited by: Shubham Saharan

Exchange-traded fund inflows slowed substantially last month to $23.3 billion as investors pulled back amid plummeting stock and bond markets.

September’s inflows into U.S.-listed ETFs dropped 46% from $43 billion in August, according to ETF.com data. They also slumped from last September’s $35.2 billion inflows.

Markets plunged in the days following the Federal Reserve’s Sept. 21 announcement of a third consecutive 75 basis point hike, after an already dismal few weeks of lackluster news from global economies and persisting decades-high inflation. The S&P 500 slipped more than 9% in September alone—the worst September in two decades—while the Nasdaq composite closed the month down more than 10%.

That led to a major downturn in equity-focused ETFs. Those inflows fell by nearly half, to $16.9 billion.

Flows into fixed income products fared slightly better: They dropped to $12.9 billion from $13.1 billion the previous month.

Among the top-performing ETFs last month were the Vanguard S&P 500 ETF (VOO), the SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ).

Among fixed income ETFs, the SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) alone pulled in $6.5 billion, the largest inflow into any U.S.-listed ETF last month.

Corporate bonds took a hit last month, with the iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD), the Vanguard Short-Term Corporate Bond ETF (VCSH) and the Vanguard Intermediate-Term Corporate Bond Index Fund ETF (VCIT) losing a collective $5 billion.

For a full list of the top inflows and outflows for September and 2022 as a whole, see the tables below:   

Top Gainers (September 2022)

Ticker	Name	Issuer	Net Flows ($,mm)	AUM ($M)	% of AUM	YTD 2022 Net Flows($,M)
BIL	SPDR Bloomberg 1-3 Month T-Bill ETF	State Street Global Advisors	6,537.55	23,942.30	27.31%	10,328.16
VOO	Vanguard S&P 500 ETF	Vanguard	3,967.20	250,960.46	1.58%	36,870.13
SHV	iShares Short Treasury Bond ETF	Blackrock	3,902.21	23,115.55	16.88%	10,092.58
SPY	SPDR S&P 500 ETF Trust	State Street Global Advisors	3,685.28	339,673.15	1.08%	-20,450.35
SHY	iShares 1-3 Year Treasury Bond ETF	Blackrock	2,860.50	28,075.74	10.19%	8,633.28
VTI	Vanguard Total Stock Market ETF	Vanguard	2,723.45	247,184.31	1.10%	19,493.14
ITOT	iShares Core S&P Total U.S. Stock Market ETF	Blackrock	2,218.56	40,195.01	5.52%	4,350.34
QQQ	Invesco QQQ Trust	Invesco	1,933.16	155,495.56	1.24%	3,079.28
TQQQ	ProShares UltraPro QQQ	ProShares	1,798.58	10,740.39	16.75%	10,378.07
USFR	WisdomTree Floating Rate Treasury Fund	WisdomTree	1,532.00	9,484.22	16.15%	7,645.35

Top Gainers (Year-to-Date)

Ticker	Name	Issuer	Net Flows ($,mm)	AUM ($M)	% of AUM	September 2022 Net Flows($,M)
VOO	Vanguard S&P 500 ETF	Vanguard	36,870.13	250,960.46	14.69%	3,967.20
VTI	Vanguard Total Stock Market ETF	Vanguard	19,493.14	247,184.31	7.89%	2,723.45
IVV	iShares Core S&P 500 ETF	Blackrock	19,181.14	278,268.90	6.89%	1,055.42
VTV	Vanguard Value ETF	Vanguard	14,481.67	92,776.13	15.61%	816.41
TLT	iShares 20+ Year Treasury Bond ETF	Blackrock	12,134.65	24,709.34	49.11%	1,044.83
SCHD	Schwab U.S. Dividend Equity ETF	Charles Schwab	10,901.84	36,136.85	30.17%	1,172.83
TQQQ	ProShares UltraPro QQQ	ProShares	10,378.07	10,740.39	96.63%	1,798.58
BIL	SPDR Bloomberg 1-3 Month T-Bill ETF	State Street Global Advisors	10,328.16	23,942.30	43.14%	6,537.55
SHV	iShares Short Treasury Bond ETF	Blackrock	10,092.58	23,115.55	43.66%	3,902.21
BND	Vanguard Total Bond Market ETF	Vanguard	9,859.86	80,392.95	12.26%	286.70

Biggest Losers (September 2022)

Ticker	Name	Issuer	Net Flows ($,mm)	AUM ($M)	% of AUM	YTD 2022 Net Flows($,M)
XLF	Financial Select Sector SPDR Fund	State Street Global Advisors	-3,430.64	27,958.05	-12.27%	-7,851.63
LQD	iShares iBoxx USD Investment Grade Corporate Bond ETF	Blackrock	-2,416.44	30,492.92	-7.92%	77.15
EEM	iShares MSCI Emerging Markets ETF	Blackrock	-2,205.80	21,238.71	-10.39%	539.28
JNK	SPDR Bloomberg High Yield Bond ETF	State Street Global Advisors	-1,934.99	5,184.52	-37.32%	-2,937.09
SQQQ	ProShares UltraPro Short QQQ	ProShares	-1,927.55	4,857.01	-39.69%	849.44
VGT	Vanguard Information Technology ETF	Vanguard	-1,907.08	39,376.12	-4.84%	-118.67
GLD	SPDR Gold Trust	State Street Global Advisors	-1,721.43	49,976.33	-3.44%	-1,325.51
ACWI	iShares MSCI ACWI ETF	Blackrock	-1,532.60	14,776.89	-10.37%	1,960.06
VCSH	Vanguard Short-Term Corporate Bond ETF	Vanguard	-1,411.52	41,435.31	-3.41%	3,354.72
VCIT	Vanguard Intermediate-Term Corporate Bond Index Fund ETF	Vanguard	-1,222.04	38,117.87	-3.21%	-301.80

Biggest Losers (Year-to-Date)

Ticker	Name	Issuer	Net Flows ($,mm)	AUM ($M)	% of AUM	September 2022 Net Flows($,M)
SPY	SPDR S&P 500 ETF Trust	State Street Global Advisors	-20,450.35	339,673.15	-6.02%	3,685.28
XLF	Financial Select Sector SPDR Fund	State Street Global Advisors	-7,851.63	27,958.05	-28.08%	-3,430.64
HYG	iShares iBoxx USD High Yield Corporate Bond ETF	Blackrock	-6,846.42	11,788.28	-58.08%	9.99
VLUE	iShares MSCI USA Value Factor ETF	Blackrock	-5,983.29	7,389.05	-80.98%	-493.82
TIP	iShares TIPS Bond ETF	Blackrock	-5,785.06	27,002.60	-21.42%	-862.06
BBEU	JPMorgan BetaBuilders Europe ETF	JPMorgan Chase	-4,355.42	3,162.55	-137.72%	403.25
IWM	iShares Russell 2000 ETF	Blackrock	-4,173.83	49,480.26	-8.44%	859.75
SCHP	Schwab U.S. TIPS ETF	Charles Schwab	-3,688.04	14,542.42	-25.36%	-239.19
VGK	Vanguard FTSE Europe ETF	Vanguard	-3,171.83	12,689.49	-25.00%	-205.50
JNK	SPDR Bloomberg High Yield Bond ETF	State Street Global Advisors	-2,937.09	5,184.52	-56.65%	-1,934.99

Asset Classes (September 2022)

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	16,908.94	3,591,933.85	0.47%
International Equity	-981.61	1,009,328.93	-0.10%
U.S. Fixed Income	12,887.01	1,085,728.56	1.19%
International Fixed Income	-2,002.06	132,266.99	-1.51%
Commodities	-4,041.67	128,436.45	-3.15%
Currency	45.87	4,338.43	1.06%
Leveraged	3,489.73	41,488.95	8.41%
Inverse	-3,591.16	26,458.90	-13.57%
Asset Allocation	9.09	15,912.26	0.06%
Alternatives	554.28	8,764.61	6.32%
Total:	23,278.43	6,044,657.92	0.39%

Asset Classes (Year-to-Date)

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	188,958.62	3,591,933.85	5.26%
International Equity	65,966.03	1,009,328.93	6.54%
U.S. Fixed Income	115,841.59	1,085,728.56	10.67%
International Fixed Income	4,140.76	132,266.99	3.13%
Commodities	1,900.59	128,436.45	1.48%
Currency	1,850.92	4,338.43	42.66%
Leveraged	20,906.66	41,488.95	50.39%
Inverse	8,619.01	26,458.90	32.58%
Asset Allocation	289.21	15,912.26	1.82%
Alternatives	2,245.35	8,764.61	25.62%
Total:	410,718.74	6,044,657.92	6.79%

September 2022 ETF Issuer League Table

Issuer	Net Flows ($,M)	AUM ($,M)	% of AUM	YTD 2022 Net Flows($,M)
Blackrock	6,462.66	2,025,190.25	0.32%	97,955.18
Vanguard	9,053.14	1,767,787.35	0.51%	148,896.68
State Street Global Advisors	-2,521.95	905,954.21	-0.28%	1,111.86
Invesco	-208.97	328,178.45	-0.06%	17,989.17
Charles Schwab	3,627.61	237,065.80	1.53%	26,319.91
First Trust	251.86	115,218.36	0.22%	8,655.91
JPMorgan Chase	2,068.06	79,792.97	2.59%	13,396.35
ProShares	-1,188.49	57,988.86	-2.05%	19,604.79
Dimensional Holdings	1,684.98	57,360.95	2.94%	16,569.18
VanEck	-612.11	45,926.66	-1.33%	969.53
WisdomTree	1,764.89	43,074.08	4.10%	10,242.37
Mirae Asset Global Investments Co., Ltd.	-156.64	35,567.31	-0.44%	3,757.94
Fidelity	-260.29	28,660.47	-0.91%	1,871.57
Goldman Sachs	301.21	23,826.97	1.26%	2,974.70
PIMCO	-65.56	22,561.89	-0.29%	-2,106.30
Direxion	1,051.23	20,617.29	5.10%	9,486.98
Northern Trust	-254.63	19,104.00	-1.33%	2,201.09
DWS	-144.84	17,475.06	-0.83%	-1,842.10
Pacer Advisors	283.90	15,332.03	1.85%	8,125.85
ARK	330.81	14,108.82	2.34%	-234.50
American Century Investments	636.19	13,242.86	4.80%	6,235.77
AJM Ventures LLC	-87.68	11,674.52	-0.75%	-1,511.74
SS&C	-65.46	10,357.79	-0.63%	524.66
CICC	-415.06	9,195.73	-4.51%	512.02
Innovator	678.57	8,792.52	7.72%	3,734.94
Franklin Templeton	125.41	8,688.81	1.44%	687.30
Victory Capital	51.60	7,508.11	0.69%	1,433.35
Nuveen Securities	-175.32	6,853.56	-2.56%	698.40
Abrdn Plc	-98.04	6,601.92	-1.49%	680.81
WisdomTree Investments, Inc.	-8.64	5,426.59	-0.16%	-213.69
Janus Henderson	142.80	5,402.47	2.64%	1,314.25
John Hancock	59.48	4,691.32	1.27%	488.43
Exchange Traded Concepts	-65.29	4,671.23	-1.40%	-500.79
ETFMG	-52.34	3,801.96	-1.38%	-331.73
New York Life	-47.15	3,753.51	-1.26%	-242.09
The Hartford	-53.24	3,431.51	-1.55%	91.52
Amplify Investments	101.11	3,385.54	2.99%	545.91
Marygold Cos, Inc.	88.92	3,333.28	2.67%	-1,445.00
Prudential	360.34	3,055.14	11.79%	955.67
The Capital Group Companies	378.10	3,027.44	12.49%	3,369.19
BMO	165.06	2,780.29	5.94%	1,179.10
Toroso Investments	-9.20	2,599.65	-0.35%	449.90
Barclays Capital Inc.	-53.52	2,527.99	-2.12%	-1,003.28
Principal	-296.14	2,219.11	-13.35%	-1,961.12
US Global Investors	-242.11	2,061.20	-11.75%	-320.05
Aptus Capital Advisors	31.35	1,931.26	1.62%	338.26
Cambria	147.13	1,601.41	9.19%	691.42
Simplify Asset Management Inc.	73.24	1,552.36	4.72%	627.91
AdvisorShares	-21.01	1,377.44	-1.53%	109.49
Alpha Architect	16.39	1,304.82	1.26%	491.65
Virtus Investment Partners	-16.99	1,302.88	-1.30%	45.81
GraniteShares	-21.86	1,291.34	-1.69%	11.21
BNY Mellon	-4.70	1,283.11	-0.37%	297.68
Strategy Shares	-24.47	1,276.34	-1.92%	136.37
Columbia Management Investment Advisers, LLC	-15.12	1,254.74	-1.21%	-251.26
Vident	-1.58	1,206.05	-0.13%	48.51
UBS	0.00	1,165.44	0.00%	8.49
Sprott, Inc.	6.31	1,163.46	0.54%	327.01
Horizon Kinetics LLC	-9.10	1,163.06	-0.78%	458.85
The Motley Fool	-8.68	1,109.94	-0.78%	-103.48
Main Management	4.74	1,104.09	0.43%	32.88
Inspire Investing LLC	16.53	1,046.53	1.58%	189.48
Defiance ETFs	-29.79	941.82	-3.16%	-238.65
Litman Gregory Capital Partners LLC	337.94	932.24	36.25%	797.77
Davis Advisers	-3.46	815.43	-0.42%	-150.06
Teucrium	-11.93	814.35	-1.47%	573.69
Distillate Capital	9.74	766.80	1.27%	307.86
T. Rowe Price Group, Inc.	15.55	665.13	2.34%	234.04
Credit Suisse Group AG	-11.33	631.00	-1.80%	278.58
Nationwide	-11.90	628.68	-1.89%	-36.23
Tortoise	4.15	584.49	0.71%	69.79
Merk	3.31	584.24	0.57%	67.01
Timothy Plan	7.34	569.57	1.29%	127.09
Roundhill Investments	-10.38	569.22	-1.82%	-105.32
Redwood Investment Management	4.10	562.48	0.73%	-76.00
ClearShares LLC	10.00	508.70	1.96%	145.16
Regents Park Funds	-4.49	505.80	-0.89%	211.93
Howard Capital Management	-22.57	490.15	-4.61%	-12.83
Core Alternative Capital	35.86	463.39	7.74%	211.29
Bondbloxx Investment Management LLC	189.50	461.40	41.07%	448.32
Day Hagan Asset Management	-26.88	457.90	-5.87%	163.90
Tuttle Tactical Management, LLC	-191.58	450.38	-42.54%	92.72
Liquid Strategies	-5.10	401.70	-1.27%	36.41
Engine No. 1 LLC	1.07	391.41	0.27%	192.76
ORIX Corp.	1.13	357.42	0.32%	154.93
Advisors Asset Management	14.02	346.62	4.04%	187.29
Cavalier16	-10.35	323.27	-3.20%	-30.16
AGF	97.78	319.43	30.61%	198.95
TrimTabs	-44.70	317.11	-14.10%	-98.15
Swedish Export Credit	-19.01	300.86	-6.32%	-9.67
Retireful LLC	-12.39	283.97	-4.36%	304.40
AXS Investments	19.41	273.87	7.09%	189.41
Little Harbor Advisors	-1.91	246.70	-0.77%	-46.80
Oneascent Holdings LLC	73.24	228.31	32.08%	175.17
Renaissance Health Service Corp.	149.14	225.14	66.24%	226.82
WBI	-35.03	199.89	-17.52%	-50.64
Western & Southern Mutual Holding Co.	38.27	192.78	19.85%	70.12
Wahed Invest LLC	5.49	190.85	2.88%	59.32
Truemark Group	-2.22	187.09	-1.18%	19.78
Syntax Advisors	-2.60	186.70	-1.39%	2.71
Al Marketing LLC	-4.93	184.19	-2.68%	-82.91
Stf Management LP	5.40	172.84	3.12%	182.60
Renaissance Capital	-7.87	171.43	-4.59%	-64.26
Wainwright, Inc.	3.40	169.85	2.00%	33.22
Kingsview Partners LLC	10.46	162.95	6.42%	67.58
SRN Advisors	-3.40	162.71	-2.09%	-75.66
Impact Shares	-1.63	161.03	-1.01%	12.25
Cary Street Partners Financial LLC /VA/	20.33	152.37	13.34%	163.88
Equitable Holdings	0.00	149.32	0.00%	0.00
Gadsden	-6.13	141.55	-4.33%	20.24
Volatility Shares LLC	-65.12	138.81	-46.91%	147.55
Truist	1.04	137.40	0.76%	13.14
OBP Capital LLC	-0.82	135.99	-0.60%	22.84
Rayliant Investment Research	1.58	135.93	1.16%	111.17
Doubleline ETF Adviser LP	0.00	134.90	0.00%	49.44
Swan Global Investments	-7.76	124.72	-6.22%	-12.68
Intangible Capital	0.02	119.42	0.02%	-22.82
Humankind USA LLC	5.01	113.90	4.40%	22.62
Arrow Funds	0.00	106.21	0.00%	-9.77
Neil Azous Revocable Trust	-3.65	92.88	-3.93%	27.57
Water Island Capital Partners LP	1.10	83.23	1.32%	59.08
Pacific Life	-7.15	74.71	-9.57%	47.36
Absolute Investment Advisers LLC	2.67	72.48	3.68%	25.56
Baird Financial Group	0.93	72.20	1.29%	82.78
Toews Corp.	2.38	70.42	3.38%	21.10
Power Corporation of Canada	2.25	68.74	3.27%	36.22
First Manhattan Co.	0.45	66.84	0.68%	0.48
Exponential ETFs	0.00	66.48	0.00%	-1.16
IronHorse Holdings	-0.27	64.50	-0.42%	3.25
Cohanzick Management	1.03	63.36	1.62%	20.06
Natixis	1.07	60.68	1.76%	-3.22
Inverdale Capital Management LLC	-0.01	60.68	-0.02%	27.70
GeaSphere LLC	-0.44	59.82	-0.74%	5.80
Beyond Investing	0.00	59.66	0.00%	6.79
Pettee Investors	-1.03	56.37	-1.84%	-17.32
ProcureAM	-3.59	55.20	-6.51%	-18.73
Emles Advisors LLC	-3.64	52.18	-6.98%	1.25
Federated Hermes, Inc.	0.46	51.52	0.90%	7.94
SEI Investments	0.64	50.70	1.27%	53.63
Formidable Asset Management	1.17	49.37	2.37%	10.69
EntrepreneurShares, LLC	-0.51	49.26	-1.04%	-21.15
Alexis Investment Partners LLC	0.92	48.66	1.89%	8.48
VectorShares LLC	0.37	44.53	0.84%	30.76
Logan Capital Management Inc.	0.00	42.32	0.00%	0.00
Red Gate Advisers LLC	0.00	41.14	0.00%	9.31
Guinness Atkinson Asset Management	0.00	38.94	0.00%	-1.73
Advocate Capital Management LLC	2.59	38.89	6.66%	12.86
Alger Group Holdings LLC	0.37	38.27	0.96%	6.52
2nd Vote Value Investments, Inc	0.77	37.74	2.03%	-0.97
The Leuthold Group LLC	0.71	36.19	1.97%	22.07
ETF Series Solutions	-1.77	34.03	-5.20%	-1.05
Highland Capital Management	0.00	32.26	-0.01%	-10.96
Ridgeline Research LLC	1.47	30.60	4.79%	3.87
Metaurus Advisors	0.73	30.51	2.40%	5.73
Build Asset Management LLC	-1.14	30.32	-3.77%	32.88
ASYMmetric ETFs	-4.80	26.38	-18.21%	5.36
Sheaff Brock Capital Management LLC	-0.09	26.01	-0.34%	3.12
AllianceBernstein Holding	1.24	25.87	4.79%	1.24
GAMCO Investors, Inc.	-0.25	23.36	-1.08%	3.57
Convergence Investment Partners, LLC	-0.16	22.56	-0.71%	-1.80
Cultivar Capital, Inc.	0.00	22.03	0.00%	15.64
Valkyrie Funds LLC	0.82	21.78	3.76%	-22.70
AlphaMark Advisors	0.00	19.66	0.00%	0.00
Esoterica	0.00	19.64	0.00%	-8.11
Reflection Asset Management, LLC	1.13	19.29	5.87%	9.88
First Pacific Advisors LP	0.00	19.18	0.00%	22.78
Faith Investor Services, LLC	-1.85	18.57	-9.96%	22.53
Knights of Columbus	0.19	16.89	1.12%	-1.88
Mairs & Power, Inc.	0.00	16.54	0.00%	1.33
Point Bridge Capital	0.00	14.13	0.00%	1.94
Zacks Investment Management	0.00	13.86	0.00%	4.21
Lyrical Partners	10.29	13.52	76.10%	11.61
Applied Finance Group	-0.03	11.82	-0.25%	4.57
Changebridge Capital LLC	-0.23	11.45	-2.02%	-2.79
Matthews International Capital Management	1.14	11.12	10.22%	8.17
Goose Hollow Capital Management LLC	0.57	10.73	5.34%	9.92
WealthTrust Asset Management LLC	0.50	10.47	4.76%	10.60
GCI Investors, Inc.	0.00	10.00	0.00%	7.40
Thor Trading Advisors LLC	9.72	9.71	100.04%	9.72
Future Fund Advisors	0.01	9.11	0.14%	-2.37
MCCM Group LLC	0.00	8.74	0.00%	8.80
Lifegoal Investments LLC	0.00	7.73	0.00%	5.19
Counterpoint Mutual Funds LLC	-1.59	7.42	-21.42%	-1.59
Alternative Access Funds LLC	0.00	7.29	0.00%	-2.43
Convexityshares, LLC	0.00	6.39	0.00%	5.00
Kelly Strategic Management LLC	-0.74	6.03	-12.30%	6.84
Alphatrai Funds, Inc.	-3.07	5.71	-53.82%	0.04
Digital Currency Group, Inc.	0.00	5.52	0.00%	12.54
Rcube SAS	0.53	5.04	10.45%	5.27
Nuveen Investments, Inc.	0.00	4.79	0.00%	0.00
VegTech LLC	0.00	4.53	0.00%	4.15
Clockwise Capital LLC	0.00	4.46	0.00%	3.58
Democracy Investment Management LLC	0.00	4.37	0.02%	2.39
Jacob Asset Management	0.00	3.29	0.00%	-0.04
V-Square Quantitative Management LLC	0.00	3.11	0.00%	2.47
Spear Advisors LLC	0.00	3.10	0.00%	0.30
Neos Investments LLC	0.00	2.87	0.00%	2.99
Volt Equity LLC	0.00	2.58	0.00%	0.48
Dynamic Shares LLC	0.00	2.31	0.00%	1.00
Big Data Federation, Inc.	0.49	1.92	25.74%	1.11
Kingsbarn Capital Management LLC	0.00	1.60	0.00%	0.12
Amberwave Partners Research & Management LLC	0.00	1.50	0.00%	1.28
Dalton Capital	0.00	1.16	0.00%	0.26
Grizzle Investment Management LLC	-0.69	1.06	-65.50%	0.41
Inherent Wealth Fund LLC	0.00	0.96	0.00%	0.97
Subversive Capital Advisor LLC	0.00	0.89	0.00%	1.25
Tradelegs LLC	0.00	0.47	0.00%	0.50
Eaton Vance Corp.	0.00	0.00	0.00%	0.00
Cabot ETF Partners LLC	0.00	0.00	0.00%	-0.29
Neuberger Berman	0.00	0.00	0.00%	-0.52

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.

Shubham Saharan

| Contact: [email protected]

Shubham Saharan is a markets reporter at etf.com. Before joining the company, she reported for Bloomberg and the Financial Times. Saharan is a graduate of Barnard College of Columbia University.

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