ETFs Add $55B In Sept

But the September Effect and a series of threats slowed ETF flows from the prior month.

ETF.com
Oct 01, 2021
Edited by: etf.com Staff
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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)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMYTD 2021 Net Flows($,M)
SPYSPDR S&P 500 ETF TrustState Street Global Advisors7,447.50390,986.531.90%10,452.90
VOOVanguard S&P 500 ETFVanguard3,883.61249,759.921.55%40,472.29
VTIVanguard Total Stock Market ETFVanguard3,843.99265,719.501.45%31,679.99
TQQQProShares UltraPro QQQProShares2,901.9914,959.4419.40%1,672.54
IYRiShares U.S. Real Estate ETFBlackrock2,337.237,431.6331.45%1,184.76
BNDVanguard Total Bond Market ETFVanguard1,396.8781,987.921.70%15,917.43
XLEEnergy Select Sector SPDR FundState Street Global Advisors1,333.3225,446.135.24%5,843.34
BSVVanguard Short-Term Bond ETFVanguard1,123.9642,165.552.67%12,975.03
VXUSVanguard Total International Stock ETFVanguard1,106.0949,908.342.22%9,693.40
AGGiShares Core U.S. Aggregate Bond ETFBlackrock1,076.8689,462.511.20%6,657.68

 

Top Gainers (Year-to-Date)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMSeptember 2021 Net Flows($,M)
VOOVanguard S&P 500 ETFVanguard40,472.29249,759.9216.20%3,883.61
VTIVanguard Total Stock Market ETFVanguard31,679.99265,719.5011.92%3,843.99
BNDVanguard Total Bond Market ETFVanguard15,917.4381,987.9219.41%1,396.87
BSVVanguard Short-Term Bond ETFVanguard12,975.0342,165.5530.77%1,123.96
VTVVanguard Value ETFVanguard12,488.0484,040.2214.86%1,052.18
IVViShares Core S&P 500 ETFBlackrock11,909.52290,363.834.10%-3,088.05
IEMGiShares Core MSCI Emerging Markets ETFBlackrock10,719.7678,224.2913.70%986.72
SPYSPDR S&P 500 ETF TrustState Street Global Advisors10,452.90390,986.532.67%7,447.50
VXUSVanguard Total International Stock ETFVanguard9,693.4049,908.3419.42%1,106.09
IUSBiShares Core Total USD Bond Market ETFBlackrock9,688.8715,510.8262.47%273.55

 

Biggest Losers (September 2021)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMYTD 2021 Net Flows($,M)
IVViShares Core S&P 500 ETFBlackrock-3,088.05290,363.83-1.06%11,909.52
XLFFinancial Select Sector SPDR FundState Street Global Advisors-1,517.9541,563.47-3.65%8,188.85
LQDiShares iBoxx USD Investment Grade Corporate Bond ETFBlackrock-1,341.5240,867.16-3.28%-12,589.84
XLVHealth Care Select Sector SPDR FundState Street Global Advisors-1,020.0831,137.04-3.28%2,159.33
XLIIndustrial Select Sector SPDR FundState Street Global Advisors-990.8317,571.39-5.64%-792.52
XLPConsumer Staples Select Sector SPDR FundState Street Global Advisors-978.8112,003.85-8.15%-1,600.43
DIASPDR Dow Jones Industrial Average ETF TrustState Street Global Advisors-916.0328,857.11-3.17%1,466.36
ARKKARK Innovation ETFARK-902.2519,275.57-4.68%5,282.84
QUALiShares MSCI USA Quality Factor ETFBlackrock-836.6823,273.38-3.59%-1,091.63
XLKTechnology Select Sector SPDR FundState Street Global Advisors-721.3743,172.68-1.67%-848.85

 

Biggest Losers (Year-to-Date)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMSeptember 2021 Net Flows($,M)
LQDiShares iBoxx USD Investment Grade Corporate Bond ETFBlackrock-12,589.8440,867.16-30.81%-1,341.52
GLDSPDR Gold TrustState Street Global Advisors-10,055.6155,275.95-18.19%-563.34
USMViShares MSCI USA Min Vol Factor ETFBlackrock-8,701.8327,237.83-31.95%-285.43
HYGiShares iBoxx USD High Yield Corporate Bond ETFBlackrock-6,485.7619,414.78-33.41%-552.17
SHViShares Short Treasury Bond ETFBlackrock-3,838.9913,986.19-27.45%-347.97
JNKSPDR Bloomberg Barclays High Yield Bond ETFState Street Global Advisors-3,535.539,049.99-39.07%-415.70
EFAViShares MSCI EAFE Min Vol Factor ETFBlackrock-2,660.078,231.03-32.32%-46.86
USOUnited States Oil Fund LPConcierge Technologies-2,523.112,606.78-96.79%-261.36
IVWiShares S&P 500 Growth ETFBlackrock-2,091.5535,321.94-5.92%-176.19
IHIiShares U.S. Medical Devices ETFBlackrock-1,900.788,495.40-22.37%188.91

 

Asset Classes (September 2021)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity25,516.163,917,306.700.65%
International Equity9,192.661,262,651.330.73%
U.S. Fixed Income13,961.971,084,000.531.29%
International Fixed Income1,293.41149,052.950.87%
Commodities-811.69134,065.00-0.61%
Currency-25.091,884.82-1.33%
Leveraged4,549.8362,140.897.32%
Inverse538.3813,123.764.10%
Asset Allocation633.9918,458.283.43%
Alternatives121.206,815.491.78%
Total:54,970.836,649,499.740.83%

 

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity306,386.633,917,306.707.82%
International Equity171,209.311,262,651.3313.56%
U.S. Fixed Income129,493.541,084,000.5311.95%
International Fixed Income28,748.03149,052.9519.29%
Commodities-4,077.92134,065.00-3.04%
Currency17.751,884.820.94%
Leveraged3,475.9162,140.895.59%
Inverse5,689.0713,123.7643.35%
Asset Allocation4,190.8318,458.2822.70%
Alternatives2,680.536,815.4939.33%
Total:647,813.696,649,499.749.74%

 

September 2021 ETF Issuer League Table

IssuerNet Flows ($,M)AUM ($,M)% of AUMYTD 2021 Net Flows($,M)
Blackrock9,387.602,312,688.690.41%131,010.13
Vanguard22,726.581,915,197.921.19%253,820.58
State Street Global Advisors4,249.25998,153.560.43%53,805.80
Invesco1,235.11367,351.680.34%36,438.87
Charles Schwab3,719.36253,411.051.47%31,837.53
First Trust1,525.70138,606.231.10%18,648.85
JPMorgan Chase1,208.4968,987.271.75%20,822.60
ProShares3,530.3960,686.315.82%8,422.27
VanEck321.9758,935.860.55%7,918.69
WisdomTree334.9445,027.070.74%3,137.01
ARK-1,859.1738,283.31-4.86%11,659.72
Mirae Asset Global Investments Co., Ltd.1,449.6837,995.543.82%15,882.30
Dimensional Holdings460.1931,889.151.44%2,611.04
Fidelity194.7230,915.680.63%4,017.56
Allianz634.7827,462.372.31%1,536.25
Direxion1,579.2525,175.766.27%1,781.70
Goldman Sachs309.9524,809.691.25%623.27
Deutsche Bank542.4923,111.872.35%2,045.96
Northern Trust-122.6218,442.41-0.66%2,847.69
CICC1,187.7513,227.868.98%9,566.10
Franklin Templeton114.209,336.201.22%329.27
SS&C-113.118,737.87-1.29%49.48
Pacer Advisors210.728,539.512.47%2,028.12
American Century Investments158.118,001.581.98%3,477.66
Exchange Traded Concepts328.557,559.794.35%2,086.25
ETFMG4.976,729.410.07%1,294.43
Crestview-57.246,601.60-0.87%309.13
Standard Life Aberdeen-13.446,548.56-0.21%765.06
Innovator95.845,609.171.71%1,283.74
Principal64.965,442.111.19%1,079.88
Manulife19.425,067.660.38%-576.49
Nuveen Securities53.574,721.531.13%1,692.91
New York Life75.724,553.461.66%492.25
Amplify Investments-3.504,416.75-0.08%1,335.88
Janus Henderson32.124,154.200.77%229.49
The Hartford-81.414,129.45-1.97%268.00
Concierge Technologies-279.633,977.36-7.03%-2,928.01
US Global Investors224.993,869.765.81%698.62
Barclays-47.123,253.17-1.45%1,440.23
BMO162.293,105.075.23%615.25
Toroso Investments117.912,641.084.46%1,022.57
Prudential37.262,110.421.77%734.88
AdvisorShares58.482,083.132.81%1,407.99
Ameriprise Financial55.141,684.373.27%426.13
Aptus Capital Advisors120.531,611.117.48%594.27
O’Shares Investments-21.701,498.81-1.45%-21.71
GraniteShares16.611,496.891.11%188.22
Defiance ETFs13.791,488.690.93%427.01
Vident0.741,454.470.05%-39.76
Virtus Investment Partners18.761,326.041.41%357.12
UBS-14.941,234.12-1.21%-72.68
Davis Advisers-9.461,232.40-0.77%115.04
Rational Capital LLC190.891,201.2115.89%990.55
Cambria8.571,108.770.77%249.80
Inspire18.951,056.151.79%231.37
Nationwide103.221,029.2110.03%516.55
Main Management8.841,023.010.86%258.48
The Bank of New York Mellon Corp.66.571,022.976.51%441.47
Credit Suisse Group AG1.511,003.620.15%284.20
EMPIRICAL FINANCE LLC13.32989.631.35%279.86
Aegon-4.47782.81-0.57%-45.90
Simplify Asset Management Inc.86.24716.8112.03%570.90
The Motley Fool7.59692.821.10%82.98
Horizon Kinetics LLC34.98692.435.05%674.22
Roundhill Investments47.31600.847.87%328.17
Howard Capital Management28.25543.285.20%194.92
Merk58.60541.8610.82%142.14
Renaissance Capital-11.91519.05-2.30%-217.23
Redwood Investment Management64.16510.4812.57%53.82
Timothy Plan8.73494.401.76%50.18
Tortoise-19.13482.39-3.97%-16.08
TrimTabs21.27439.914.84%29.77
T. Rowe Price Group, Inc.21.34429.664.97%231.46
Liquid Strategies8.63421.702.05%105.89
Distillate Capital7.38403.461.83%145.47
ProFund Advisors LLC27.72363.897.62%362.07
Regents Park Funds2.49353.780.70%81.07
SRN Advisors3.36352.400.95%49.79
ClearShares LLC9.97348.582.86%99.46
Al Marketing LLC-6.52333.55-1.95%-57.04
Sprott-2.01311.39-0.64%17.90
Donald L. Hagan LLC21.30299.367.12%130.89
Government of Sweden-6.26283.67-2.21%-12.25
WBI0.00283.210.00%-6.79
Teucrium-15.76274.65-5.74%-112.28
Little Harbor Advisors36.93250.6414.74%185.77
Core Alternative Capital17.83228.797.79%82.57
Mcivy Co. LLC4.59205.572.23%126.19
Intangible Capital2.46197.171.25%4.94
Cavalier167.11195.573.63%45.57
Syntax Advisors0.03191.660.02%48.08
TrueMark Investments-0.18174.55-0.10%98.36
Capital Impact Advisors0.00171.990.00%-7.14
Impact Shares9.68164.575.88%123.93
Wahed10.76144.097.47%65.41
Advisors Asset Management10.82143.767.53%95.05
Tuttle Tactical Management, LLC-4.27143.53-2.98%-3.52
Arrow Funds9.72137.927.05%7.03
ProcureAM-5.48123.59-4.43%70.26
Gadsden0.64117.530.54%19.43
Swan Global Investments8.43116.507.23%111.71
Kingsview Partners LLC2.71113.792.38%106.15
Wainwright, Inc.4.27111.663.83%94.52
AGF-0.37108.00-0.34%-15.38
CornerCap Investment Counsel, Inc.-1.01103.68-0.97%28.06
Humankind USA LLC5.6796.335.89%87.59
Emles Advisors LLC-0.8893.13-0.94%24.64
Change Finance3.2791.923.56%51.99
Neil Azous Revocable Trust23.5887.5826.92%66.32
Pettee Investors2.0581.212.52%27.94
Exponential ETFs0.0079.660.00%1.20
Metaurus Advisors3.9870.375.65%10.91
Groupe BPCE-8.4364.57-13.06%9.62
Beyond Investing2.0363.353.20%20.68
Alger Group Holdings LLC2.5652.034.93%41.75
Guinness Atkinson Asset Management-2.0751.39-4.03%13.00
Toews Corp.1.4250.802.80%1.80
Absolute Investment Advisers LLC0.0050.740.00%10.53
Alexis Investment Partners LLC2.5842.516.07%25.31
Infusive Asset Management-1.6942.21-3.99%6.84
Esoterica-3.0141.11-7.31%17.77
ETF Series Solutions5.0240.1212.51%11.02
Rayliant Investment Research1.9239.494.87%40.68
Premise Capital0.0039.480.00%-14.10
Formidable Asset Management1.2839.383.26%39.67
Highland Capital Management-3.2338.63-8.35%-14.62
2nd Vote Value Investments, Inc1.7038.104.47%30.41
Inverdale Capital Management LLC2.6837.957.05%31.50
Red Gate Advisers LLC0.4036.071.11%6.27
Cabot ETF Partners LLC-0.8231.92-2.56%32.34
Pacific Life0.0031.770.00%2.44
New Age Alpha Advisors LLC18.7729.0864.53%27.31
Ridgeline Research LLC4.9827.4718.12%23.92
AlphaMark Advisors0.0026.040.00%-1.41
Power Corporation of Canada-0.7225.42-2.82%2.77
Truist0.0025.160.00%2.38
Uncommon Investment Advisors LLC1.0524.804.24%23.89
Knights of Columbus1.7722.557.87%23.13
MCCM Group LLC-1.7918.05-9.93%30.40
Changebridge Capital LLC0.5617.853.12%10.96
The Leuthold Group LLC0.0015.120.00%1.43
Mairs & Power, Inc.0.7615.005.05%15.06
Applied Finance Group0.6714.984.50%13.84
ASYMmetric ETFs1.6614.8211.22%14.75
GAMCO Investors, Inc.0.0014.060.00%7.55
Point Bridge Capital0.9413.806.79%1.94
EquBot0.0011.680.00%4.82
Future Fund Advisors7.0711.2363.01%11.61
Alternative Access Funds LLC0.0010.030.00%0.00
Whitford Asset Management0.009.380.00%5.85
Counterpoint Mutual Funds LLC0.009.050.00%-3.60
Water Island Capital Partners LP0.007.840.03%1.29
Jacob Asset Management0.417.295.59%7.47
Charger Corp.6.736.38105.52%6.73
Global Beta Advisors0.024.960.30%-2.97
Reflection Asset Management, LLC0.734.9114.94%2.02
Spear Advisors LLC2.044.0150.76%4.05
Democracy Investment Management LLC0.003.86-0.01%3.28
Lifegoal Investments LLC1.742.9259.59%1.74
Zacks Investment Management1.241.9164.88%1.97
Wilshire Phoenix Funds LLC0.001.730.00%0.00
Chadds Ford Investment Management LLC0.000.740.00%0.75
Lyrical Partners0.000.630.00%0.00
Litman Gregory Capital Partners LLC2.820.000.00%20.26
Eaton Vance Corp.0.000.000.00%0.00
Cohanzick Management0.000.000.00%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.