ETFs Add $23B in September

But U.S. exchange-traded fund inflows plummeted 46% from August amid market rout.

ShubhamSaharan_white_bg
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Reviewed by: Shubham Saharan
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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)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMYTD 2022 Net Flows($,M)
BILSPDR Bloomberg 1-3 Month T-Bill ETFState Street Global Advisors6,537.5523,942.3027.31%10,328.16
VOOVanguard S&P 500 ETFVanguard3,967.20250,960.461.58%36,870.13
SHViShares Short Treasury Bond ETFBlackrock3,902.2123,115.5516.88%10,092.58
SPYSPDR S&P 500 ETF TrustState Street Global Advisors3,685.28339,673.151.08%-20,450.35
SHYiShares 1-3 Year Treasury Bond ETFBlackrock2,860.5028,075.7410.19%8,633.28
VTIVanguard Total Stock Market ETFVanguard2,723.45247,184.311.10%19,493.14
ITOTiShares Core S&P Total U.S. Stock Market ETFBlackrock2,218.5640,195.015.52%4,350.34
QQQInvesco QQQ TrustInvesco1,933.16155,495.561.24%3,079.28
TQQQProShares UltraPro QQQProShares1,798.5810,740.3916.75%10,378.07
USFRWisdomTree Floating Rate Treasury FundWisdomTree1,532.009,484.2216.15%7,645.35

 

Top Gainers (Year-to-Date)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMSeptember 2022 Net Flows($,M)
VOOVanguard S&P 500 ETFVanguard36,870.13250,960.4614.69%3,967.20
VTIVanguard Total Stock Market ETFVanguard19,493.14247,184.317.89%2,723.45
IVViShares Core S&P 500 ETFBlackrock19,181.14278,268.906.89%1,055.42
VTVVanguard Value ETFVanguard14,481.6792,776.1315.61%816.41
TLTiShares 20+ Year Treasury Bond ETFBlackrock12,134.6524,709.3449.11%1,044.83
SCHDSchwab U.S. Dividend Equity ETFCharles Schwab10,901.8436,136.8530.17%1,172.83
TQQQProShares UltraPro QQQProShares10,378.0710,740.3996.63%1,798.58
BILSPDR Bloomberg 1-3 Month T-Bill ETFState Street Global Advisors10,328.1623,942.3043.14%6,537.55
SHViShares Short Treasury Bond ETFBlackrock10,092.5823,115.5543.66%3,902.21
BNDVanguard Total Bond Market ETFVanguard9,859.8680,392.9512.26%286.70

 

Biggest Losers (September 2022)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMYTD 2022 Net Flows($,M)
XLFFinancial Select Sector SPDR FundState Street Global Advisors-3,430.6427,958.05-12.27%-7,851.63
LQDiShares iBoxx USD Investment Grade Corporate Bond ETFBlackrock-2,416.4430,492.92-7.92%77.15
EEMiShares MSCI Emerging Markets ETFBlackrock-2,205.8021,238.71-10.39%539.28
JNKSPDR Bloomberg High Yield Bond ETFState Street Global Advisors-1,934.995,184.52-37.32%-2,937.09
SQQQProShares UltraPro Short QQQProShares-1,927.554,857.01-39.69%849.44
VGTVanguard Information Technology ETFVanguard-1,907.0839,376.12-4.84%-118.67
GLDSPDR Gold TrustState Street Global Advisors-1,721.4349,976.33-3.44%-1,325.51
ACWIiShares MSCI ACWI ETFBlackrock-1,532.6014,776.89-10.37%1,960.06
VCSHVanguard Short-Term Corporate Bond ETFVanguard-1,411.5241,435.31-3.41%3,354.72
VCITVanguard Intermediate-Term Corporate Bond Index Fund ETFVanguard-1,222.0438,117.87-3.21%-301.80

 

Biggest Losers (Year-to-Date)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMSeptember 2022 Net Flows($,M)
SPYSPDR S&P 500 ETF TrustState Street Global Advisors-20,450.35339,673.15-6.02%3,685.28
XLFFinancial Select Sector SPDR FundState Street Global Advisors-7,851.6327,958.05-28.08%-3,430.64
HYGiShares iBoxx USD High Yield Corporate Bond ETFBlackrock-6,846.4211,788.28-58.08%9.99
VLUEiShares MSCI USA Value Factor ETFBlackrock-5,983.297,389.05-80.98%-493.82
TIPiShares TIPS Bond ETFBlackrock-5,785.0627,002.60-21.42%-862.06
BBEUJPMorgan BetaBuilders Europe ETFJPMorgan Chase-4,355.423,162.55-137.72%403.25
IWMiShares Russell 2000 ETFBlackrock-4,173.8349,480.26-8.44%859.75
SCHPSchwab U.S. TIPS ETFCharles Schwab-3,688.0414,542.42-25.36%-239.19
VGKVanguard FTSE Europe ETFVanguard-3,171.8312,689.49-25.00%-205.50
JNKSPDR Bloomberg High Yield Bond ETFState Street Global Advisors-2,937.095,184.52-56.65%-1,934.99

 

Asset Classes (September 2022)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity16,908.943,591,933.850.47%
International Equity-981.611,009,328.93-0.10%
U.S. Fixed Income12,887.011,085,728.561.19%
International Fixed Income-2,002.06132,266.99-1.51%
Commodities-4,041.67128,436.45-3.15%
Currency45.874,338.431.06%
Leveraged3,489.7341,488.958.41%
Inverse-3,591.1626,458.90-13.57%
Asset Allocation9.0915,912.260.06%
Alternatives554.288,764.616.32%
Total:23,278.436,044,657.920.39%

 

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity188,958.623,591,933.855.26%
International Equity65,966.031,009,328.936.54%
U.S. Fixed Income115,841.591,085,728.5610.67%
International Fixed Income4,140.76132,266.993.13%
Commodities1,900.59128,436.451.48%
Currency1,850.924,338.4342.66%
Leveraged20,906.6641,488.9550.39%
Inverse8,619.0126,458.9032.58%
Asset Allocation289.2115,912.261.82%
Alternatives2,245.358,764.6125.62%
Total:410,718.746,044,657.926.79%

 

September 2022 ETF Issuer League Table

IssuerNet Flows ($,M)AUM ($,M)% of AUMYTD 2022 Net Flows($,M)
Blackrock6,462.662,025,190.250.32%97,955.18
Vanguard9,053.141,767,787.350.51%148,896.68
State Street Global Advisors-2,521.95905,954.21-0.28%1,111.86
Invesco-208.97328,178.45-0.06%17,989.17
Charles Schwab3,627.61237,065.801.53%26,319.91
First Trust251.86115,218.360.22%8,655.91
JPMorgan Chase2,068.0679,792.972.59%13,396.35
ProShares-1,188.4957,988.86-2.05%19,604.79
Dimensional Holdings1,684.9857,360.952.94%16,569.18
VanEck-612.1145,926.66-1.33%969.53
WisdomTree1,764.8943,074.084.10%10,242.37
Mirae Asset Global Investments Co., Ltd.-156.6435,567.31-0.44%3,757.94
Fidelity-260.2928,660.47-0.91%1,871.57
Goldman Sachs301.2123,826.971.26%2,974.70
PIMCO-65.5622,561.89-0.29%-2,106.30
Direxion1,051.2320,617.295.10%9,486.98
Northern Trust-254.6319,104.00-1.33%2,201.09
DWS-144.8417,475.06-0.83%-1,842.10
Pacer Advisors283.9015,332.031.85%8,125.85
ARK330.8114,108.822.34%-234.50
American Century Investments636.1913,242.864.80%6,235.77
AJM Ventures LLC-87.6811,674.52-0.75%-1,511.74
SS&C-65.4610,357.79-0.63%524.66
CICC-415.069,195.73-4.51%512.02
Innovator678.578,792.527.72%3,734.94
Franklin Templeton125.418,688.811.44%687.30
Victory Capital51.607,508.110.69%1,433.35
Nuveen Securities-175.326,853.56-2.56%698.40
Abrdn Plc-98.046,601.92-1.49%680.81
WisdomTree Investments, Inc.-8.645,426.59-0.16%-213.69
Janus Henderson142.805,402.472.64%1,314.25
John Hancock59.484,691.321.27%488.43
Exchange Traded Concepts-65.294,671.23-1.40%-500.79
ETFMG-52.343,801.96-1.38%-331.73
New York Life-47.153,753.51-1.26%-242.09
The Hartford-53.243,431.51-1.55%91.52
Amplify Investments101.113,385.542.99%545.91
Marygold Cos, Inc.88.923,333.282.67%-1,445.00
Prudential360.343,055.1411.79%955.67
The Capital Group Companies378.103,027.4412.49%3,369.19
BMO165.062,780.295.94%1,179.10
Toroso Investments-9.202,599.65-0.35%449.90
Barclays Capital Inc.-53.522,527.99-2.12%-1,003.28
Principal-296.142,219.11-13.35%-1,961.12
US Global Investors-242.112,061.20-11.75%-320.05
Aptus Capital Advisors31.351,931.261.62%338.26
Cambria147.131,601.419.19%691.42
Simplify Asset Management Inc.73.241,552.364.72%627.91
AdvisorShares-21.011,377.44-1.53%109.49
Alpha Architect16.391,304.821.26%491.65
Virtus Investment Partners-16.991,302.88-1.30%45.81
GraniteShares-21.861,291.34-1.69%11.21
BNY Mellon-4.701,283.11-0.37%297.68
Strategy Shares-24.471,276.34-1.92%136.37
Columbia Management Investment Advisers, LLC-15.121,254.74-1.21%-251.26
Vident-1.581,206.05-0.13%48.51
UBS0.001,165.440.00%8.49
Sprott, Inc.6.311,163.460.54%327.01
Horizon Kinetics LLC-9.101,163.06-0.78%458.85
The Motley Fool-8.681,109.94-0.78%-103.48
Main Management4.741,104.090.43%32.88
Inspire Investing LLC16.531,046.531.58%189.48
Defiance ETFs-29.79941.82-3.16%-238.65
Litman Gregory Capital Partners LLC337.94932.2436.25%797.77
Davis Advisers-3.46815.43-0.42%-150.06
Teucrium-11.93814.35-1.47%573.69
Distillate Capital9.74766.801.27%307.86
T. Rowe Price Group, Inc.15.55665.132.34%234.04
Credit Suisse Group AG-11.33631.00-1.80%278.58
Nationwide-11.90628.68-1.89%-36.23
Tortoise4.15584.490.71%69.79
Merk3.31584.240.57%67.01
Timothy Plan7.34569.571.29%127.09
Roundhill Investments-10.38569.22-1.82%-105.32
Redwood Investment Management4.10562.480.73%-76.00
ClearShares LLC10.00508.701.96%145.16
Regents Park Funds-4.49505.80-0.89%211.93
Howard Capital Management-22.57490.15-4.61%-12.83
Core Alternative Capital35.86463.397.74%211.29
Bondbloxx Investment Management LLC189.50461.4041.07%448.32
Day Hagan Asset Management-26.88457.90-5.87%163.90
Tuttle Tactical Management, LLC-191.58450.38-42.54%92.72
Liquid Strategies-5.10401.70-1.27%36.41
Engine No. 1 LLC1.07391.410.27%192.76
ORIX Corp.1.13357.420.32%154.93
Advisors Asset Management14.02346.624.04%187.29
Cavalier16-10.35323.27-3.20%-30.16
AGF97.78319.4330.61%198.95
TrimTabs-44.70317.11-14.10%-98.15
Swedish Export Credit-19.01300.86-6.32%-9.67
Retireful LLC-12.39283.97-4.36%304.40
AXS Investments19.41273.877.09%189.41
Little Harbor Advisors-1.91246.70-0.77%-46.80
Oneascent Holdings LLC73.24228.3132.08%175.17
Renaissance Health Service Corp.149.14225.1466.24%226.82
WBI-35.03199.89-17.52%-50.64
Western & Southern Mutual Holding Co.38.27192.7819.85%70.12
Wahed Invest LLC5.49190.852.88%59.32
Truemark Group-2.22187.09-1.18%19.78
Syntax Advisors-2.60186.70-1.39%2.71
Al Marketing LLC-4.93184.19-2.68%-82.91
Stf Management LP5.40172.843.12%182.60
Renaissance Capital-7.87171.43-4.59%-64.26
Wainwright, Inc.3.40169.852.00%33.22
Kingsview Partners LLC10.46162.956.42%67.58
SRN Advisors-3.40162.71-2.09%-75.66
Impact Shares-1.63161.03-1.01%12.25
Cary Street Partners Financial LLC /VA/20.33152.3713.34%163.88
Equitable Holdings0.00149.320.00%0.00
Gadsden-6.13141.55-4.33%20.24
Volatility Shares LLC-65.12138.81-46.91%147.55
Truist1.04137.400.76%13.14
OBP Capital LLC-0.82135.99-0.60%22.84
Rayliant Investment Research1.58135.931.16%111.17
Doubleline ETF Adviser LP0.00134.900.00%49.44
Swan Global Investments-7.76124.72-6.22%-12.68
Intangible Capital0.02119.420.02%-22.82
Humankind USA LLC5.01113.904.40%22.62
Arrow Funds0.00106.210.00%-9.77
Neil Azous Revocable Trust-3.6592.88-3.93%27.57
Water Island Capital Partners LP1.1083.231.32%59.08
Pacific Life-7.1574.71-9.57%47.36
Absolute Investment Advisers LLC2.6772.483.68%25.56
Baird Financial Group0.9372.201.29%82.78
Toews Corp.2.3870.423.38%21.10
Power Corporation of Canada2.2568.743.27%36.22
First Manhattan Co.0.4566.840.68%0.48
Exponential ETFs0.0066.480.00%-1.16
IronHorse Holdings-0.2764.50-0.42%3.25
Cohanzick Management1.0363.361.62%20.06
Natixis1.0760.681.76%-3.22
Inverdale Capital Management LLC-0.0160.68-0.02%27.70
GeaSphere LLC-0.4459.82-0.74%5.80
Beyond Investing0.0059.660.00%6.79
Pettee Investors-1.0356.37-1.84%-17.32
ProcureAM-3.5955.20-6.51%-18.73
Emles Advisors LLC-3.6452.18-6.98%1.25
Federated Hermes, Inc.0.4651.520.90%7.94
SEI Investments0.6450.701.27%53.63
Formidable Asset Management1.1749.372.37%10.69
EntrepreneurShares, LLC-0.5149.26-1.04%-21.15
Alexis Investment Partners LLC0.9248.661.89%8.48
VectorShares LLC0.3744.530.84%30.76
Logan Capital Management Inc.0.0042.320.00%0.00
Red Gate Advisers LLC0.0041.140.00%9.31
Guinness Atkinson Asset Management0.0038.940.00%-1.73
Advocate Capital Management LLC2.5938.896.66%12.86
Alger Group Holdings LLC0.3738.270.96%6.52
2nd Vote Value Investments, Inc0.7737.742.03%-0.97
The Leuthold Group LLC0.7136.191.97%22.07
ETF Series Solutions-1.7734.03-5.20%-1.05
Highland Capital Management0.0032.26-0.01%-10.96
Ridgeline Research LLC1.4730.604.79%3.87
Metaurus Advisors0.7330.512.40%5.73
Build Asset Management LLC-1.1430.32-3.77%32.88
ASYMmetric ETFs-4.8026.38-18.21%5.36
Sheaff Brock Capital Management LLC-0.0926.01-0.34%3.12
AllianceBernstein Holding1.2425.874.79%1.24
GAMCO Investors, Inc.-0.2523.36-1.08%3.57
Convergence Investment Partners, LLC-0.1622.56-0.71%-1.80
Cultivar Capital, Inc.0.0022.030.00%15.64
Valkyrie Funds LLC0.8221.783.76%-22.70
AlphaMark Advisors0.0019.660.00%0.00
Esoterica0.0019.640.00%-8.11
Reflection Asset Management, LLC1.1319.295.87%9.88
First Pacific Advisors LP0.0019.180.00%22.78
Faith Investor Services, LLC-1.8518.57-9.96%22.53
Knights of Columbus0.1916.891.12%-1.88
Mairs & Power, Inc.0.0016.540.00%1.33
Point Bridge Capital0.0014.130.00%1.94
Zacks Investment Management0.0013.860.00%4.21
Lyrical Partners10.2913.5276.10%11.61
Applied Finance Group-0.0311.82-0.25%4.57
Changebridge Capital LLC-0.2311.45-2.02%-2.79
Matthews International Capital Management1.1411.1210.22%8.17
Goose Hollow Capital Management LLC0.5710.735.34%9.92
WealthTrust Asset Management LLC0.5010.474.76%10.60
GCI Investors, Inc.0.0010.000.00%7.40
Thor Trading Advisors LLC9.729.71100.04%9.72
Future Fund Advisors0.019.110.14%-2.37
MCCM Group LLC0.008.740.00%8.80
Lifegoal Investments LLC0.007.730.00%5.19
Counterpoint Mutual Funds LLC-1.597.42-21.42%-1.59
Alternative Access Funds LLC0.007.290.00%-2.43
Convexityshares, LLC0.006.390.00%5.00
Kelly Strategic Management LLC-0.746.03-12.30%6.84
Alphatrai Funds, Inc.-3.075.71-53.82%0.04
Digital Currency Group, Inc.0.005.520.00%12.54
Rcube SAS0.535.0410.45%5.27
Nuveen Investments, Inc.0.004.790.00%0.00
VegTech LLC0.004.530.00%4.15
Clockwise Capital LLC0.004.460.00%3.58
Democracy Investment Management LLC0.004.370.02%2.39
Jacob Asset Management0.003.290.00%-0.04
V-Square Quantitative Management LLC0.003.110.00%2.47
Spear Advisors LLC0.003.100.00%0.30
Neos Investments LLC0.002.870.00%2.99
Volt Equity LLC0.002.580.00%0.48
Dynamic Shares LLC0.002.310.00%1.00
Big Data Federation, Inc.0.491.9225.74%1.11
Kingsbarn Capital Management LLC0.001.600.00%0.12
Amberwave Partners Research & Management LLC0.001.500.00%1.28
Dalton Capital0.001.160.00%0.26
Grizzle Investment Management LLC-0.691.06-65.50%0.41
Inherent Wealth Fund LLC0.000.960.00%0.97
Subversive Capital Advisor LLC0.000.890.00%1.25
Tradelegs LLC0.000.470.00%0.50
Eaton Vance Corp.0.000.000.00%0.00
Cabot ETF Partners LLC0.000.000.00%-0.29
Neuberger Berman0.000.000.00%-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 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.