ETFs Register Biggest Monthly Inflow of 2023 in July

Investors added nearly $59 billion to U.S.-listed exchange-traded funds last month.

sumit
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Senior ETF Analyst
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Reviewed by: Lisa Barr
,
Edited by: Lisa Barr

ETFs had their strongest month of inflows for the year in July as the stock market’s rally gained steam. On net, $58.6 billion flowed into U.S.-listed exchange-traded funds during July, topping the $53.5 billion that investors put into ETFs in June. 

Year-to-date inflows increased to $275.9 billion, which compares to $342.8 billion at the same time a year ago (which was the second-biggest haul ever through the first seven months of the year). 

July’s inflows were powered by some of the usual suspects—massive funds like the iShares Core S&P 500 ETF (IVV) and the Vanguard 500 Index Fund (VOO)

But lesser-known funds, like the iShares Treasury Floating Rate Bond ETF (TFLO), also made an appearance. I wrote about TFLO earlier this week. 

The ETF, which owns bonds whose interest rates adjust each week, isn’t sensitive to interest rate moves. It picked up $3.2 billion of new money in July. 

Meanwhile, a fund that is extremely sensitive to rate moves—the iShares 20+ Year Treasury Bond ETF (TLT)—also made July’s top inflows list. Its $4.7 billion haul was the second-most of any ETF and brought TLT’s year-to-date inflows up to $16.8 billion. 

Stock Market Rally 

The Invesco S&P 500 Equal Weight ETF (RSP), which owns all of the companies in the S&P 500 in equal proportion, was another popular ETF in July, with inflows of $3.1 billion. 

Much has been written about the narrowness of this year’s stock market rally and how just a handful of stocks are responsible for the majority of the S&P 500’s gain. 

For some investors, RSP could be the answer to those concerns. The fund is up 10% so far this year, half the gain for the SPDR S&P 500 ETF Trust (SPY)

Investors in RSP might believe that if the stock market rally broadens out, the equal-weighted fund could close some of that gap.  

 

For a full list of the top inflows and outflows for July and 2023 as a whole, see the tables below: 

 

Top Gainers (July 2023)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMYTD 2023 Net Flows($,M)
IVViShares Core S&P 500 ETFBlackrock10,756.80351,892.243.06%9,650.90
TLTiShares 20+ Year Treasury Bond ETFBlackrock4,688.4342,974.0410.91%16,768.66
VOOVanguard 500 Index FundVanguard3,947.05336,546.461.17%24,706.13
QQQInvesco QQQ TrustInvesco3,741.21207,776.911.80%3,102.75
TFLOiShares Treasury Floating Rate Bond ETFBlackrock3,196.159,450.6433.82%5,078.77
RSPInvesco S&P 500 Equal Weight ETFInvesco3,119.6743,419.217.18%7,743.16
IJHiShares Core S&P Mid-Cap ETFBlackrock2,958.5674,237.033.99%3,614.03
AGGiShares Core U.S. Aggregate Bond ETFBlackrock2,225.3793,377.772.38%10,854.07
XLFFinancial Select Sector SPDR FundState Street Global Advisors1,871.4335,749.625.23%3,647.26
VGITVanguard Intermediate-Term Treasury Index ETFVanguard1,647.9915,345.6310.74%1,916.35

 

Top Gainers (Year-to-Date)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMJuly 2023 Net Flows($,M)
VOOVanguard 500 Index FundVanguard24,706.13336,546.467.34%3,947.05
TLTiShares 20+ Year Treasury Bond ETFBlackrock16,768.6642,974.0439.02%4,688.43
AGGiShares Core U.S. Aggregate Bond ETFBlackrock10,854.0793,377.7711.62%2,225.37
JEPIJPMorgan Equity Premium Income ETFJPMorgan Chase10,825.4128,813.5637.57%782.78
VTIVanguard Total Stock Market ETFVanguard9,934.91318,390.143.12%1,029.04
BNDVanguard Total Bond Market ETFVanguard9,709.1994,680.4110.25%1,075.15
IVViShares Core S&P 500 ETFBlackrock9,650.90351,892.242.74%10,756.80
QUALiShares MSCI USA Quality Factor ETFBlackrock8,525.3531,342.6827.20%-1,331.07
RSPInvesco S&P 500 Equal Weight ETFInvesco7,743.1643,419.2117.83%3,119.67
IEFiShares 7-10 Year Treasury Bond ETFBlackrock6,460.0428,978.8822.29%246.51

 

Biggest Losers (July 2023)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMYTD 2023 Net Flows($,M)
BSVVanguard Short-Term Bond ETFVanguard-3,072.3133,760.89-9.10%-4,025.66
SPYSPDR S&P 500 ETF TrustState Street Global Advisors-3,053.37428,282.64-0.71%5,671.16
GOVTiShares U.S. Treasury Bond ETFBlackrock-3,021.1524,159.16-12.51%2,115.07
SCHOSchwab Short-Term U.S. Treasury ETFCharles Schwab-1,962.7412,441.02-15.78%2,319.60
ESGUiShares ESG Aware MSCI USA ETFBlackrock-1,707.4413,221.15-12.91%-8,797.17
IYWiShares U.S. Technology ETFBlackrock-1,575.6011,428.96-13.79%-478.68
QUALiShares MSCI USA Quality Factor ETFBlackrock-1,331.0731,342.68-4.25%8,525.35
IWFiShares Russell 1000 Growth ETFBlackrock-1,304.6671,329.46-1.83%-5,112.57
XLVHealth Care Select Sector SPDR FundState Street Global Advisors-1,286.8040,274.34-3.20%-1,401.66
TLHiShares 10-20 Year Treasury Bond ETFBlackrock-1,215.457,113.14-17.09%1,231.25

 

Biggest Losers (Year-to-Date)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMJuly 2023 Net Flows($,M)
ESGUiShares ESG Aware MSCI USA ETFBlackrock-8,797.1713,221.15-66.54%-1,707.44
IWDiShares Russell 1000 Value ETFBlackrock-5,930.3451,790.14-11.45%-685.79
IWFiShares Russell 1000 Growth ETFBlackrock-5,112.5771,329.46-7.17%-1,304.66
VCSHVanguard Short-Term Corporate Bond ETFVanguard-4,610.1536,291.54-12.70%1,433.27
XLEEnergy Select Sector SPDR FundState Street Global Advisors-4,049.2735,583.05-11.38%226.82
BSVVanguard Short-Term Bond ETFVanguard-4,025.6633,760.89-11.92%-3,072.31
EEMViShares MSCI Emerging Markets Min Vol Factor ETFBlackrock-3,898.534,663.54-83.60%-27.35
TQQQProShares UltraPro QQQProShares-3,146.1319,942.27-15.78%-16.64
MTUMiShares MSCI USA Momentum Factor ETFBlackrock-2,784.439,024.67-30.85%-232.31
ACWIiShares MSCI ACWI ETFBlackrock-2,569.3518,212.32-14.11%0.00

 

Asset Classes (July 2023)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity34,824.444,525,068.980.77%
International Equity8,524.281,334,951.580.64%
U.S. Fixed Income14,256.721,263,650.941.13%
International Fixed Income2,760.22154,511.631.79%
Commodities-1,672.96133,032.38-1.26%
Currency91.952,955.983.11%
Leveraged12.3874,865.060.02%
Inverse-205.3318,788.29-1.09%
Asset Allocation-20.5615,996.11-0.13%
Alternatives20.047,100.190.28%
Total:58,591.187,530,921.140.78%

 

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity100,412.074,525,068.982.22%
International Equity57,487.301,334,951.584.31%
U.S. Fixed Income103,424.331,263,650.948.18%
International Fixed Income13,864.33154,511.638.97%
Commodities-3,340.41133,032.38-2.51%
Currency-1,041.302,955.98-35.23%
Leveraged1,692.1774,865.062.26%
Inverse5,752.1918,788.2930.62%
Asset Allocation-2,414.2615,996.11-15.09%
Alternatives51.257,100.190.72%
Total:275,887.687,530,921.143.66%

 

July 2023 ETF Issuer League Table

IssuerNet Flows ($,M)AUM ($,M)% of AUMYTD 2023 Net Flows($,M)
Blackrock18,423.912,461,303.270.75%42,354.23
Vanguard14,131.162,191,006.600.64%78,510.14
State Street Global Advisors3,279.861,113,635.810.29%19,941.58
Invesco8,286.21417,149.361.99%17,473.62
Charles Schwab-103.41300,170.30-0.03%14,407.85
First Trust1,041.56145,923.940.71%3,324.39
JPMorgan Chase1,118.52119,183.320.94%23,636.06
Dimensional2,008.3598,474.812.04%16,782.87
ProShares-111.5570,011.57-0.16%3,250.28
VanEck2,237.5062,443.063.58%2,950.58
WisdomTree840.4361,935.851.36%6,441.01
Mirae Asset Global Investments Co., Ltd.396.2642,972.880.92%2,611.41
Fidelity289.4037,509.320.77%2,270.90
Direxion-109.3831,980.21-0.34%2,488.06
Goldman Sachs31.9030,411.790.10%993.50
American Century Investments876.7628,100.503.12%6,699.93
Pacer Advisors478.7026,362.261.82%4,682.27
PIMCO212.5022,123.230.96%381.22
Northern Trust78.3421,365.490.37%93.26
DWS21.5420,185.930.11%405.34
ARK275.3415,210.371.81%-446.90
Innovator409.5914,594.502.81%2,128.78
Franklin Templeton486.7813,226.683.68%2,393.91
Capital Group659.0211,410.975.78%4,235.33
SS&C23.1411,003.440.21%-186.76
CICC734.588,975.998.18%-538.51
Nuveen Securities-119.398,282.81-1.44%49.95
Janus Henderson480.697,905.656.08%2,244.68
Victory Capital-73.207,680.11-0.95%-381.25
WisdomTree Investments, Inc.118.326,427.841.84%731.23
Abrdn Plc-40.786,391.86-0.64%255.53
BMO42.975,828.890.74%649.37
John Hancock14.955,738.010.26%230.98
Prudential67.485,195.471.30%928.55
Amplify Investments23.214,613.940.50%364.15
Exchange Traded Concepts-72.344,603.42-1.57%-442.06
Alpha Architect128.114,480.942.86%1,047.33
The Hartford139.624,366.393.20%380.36
New York Life59.204,334.551.37%125.86
Tidal313.314,025.757.78%976.48
BNY Mellon-14.163,776.25-0.38%2,103.36
ETFMG-26.493,640.47-0.73%-205.96
Marygold-200.433,458.27-5.80%295.15
Principal25.182,678.960.94%188.14
Simplify193.952,168.068.95%722.38
Renaissance Health Service Corp.279.442,043.6813.67%1,640.48
Cambria28.061,982.451.42%122.41
Bondbloxx Investment Management LLC247.941,962.9612.63%1,416.12
US Global Investors-121.561,873.07-6.49%-592.43
Main Management45.271,732.342.61%287.07
Aptus Capital Advisors-35.821,715.62-2.09%-196.18
Columbia Management Investment Advisers, LLC92.221,632.655.65%243.29
UBS0.061,627.110.00%-251.00
Power Corporation of Canada15.121,617.410.93%1,369.51
T. Rowe Price Group, Inc.390.301,554.0425.12%491.36
GraniteShares51.961,481.773.51%103.51
Vident3.801,435.960.26%-39.36
Virtus Investment Partners12.871,420.230.91%85.10
Barclays Capital Inc.82.741,402.465.90%286.63
Sprott, Inc.-2.781,315.34-0.21%85.96
Distillate Capital126.001,307.599.64%243.22
The Motley Fool19.131,296.241.48%1.89
Inspire Investing LLC-12.711,290.97-0.98%110.50
ORIX29.391,096.782.68%360.45
Strategy Shares-19.991,091.27-1.83%-142.66
Horizon Kinetics-51.561,061.70-4.86%-220.62
AdvisorShares12.191,025.191.19%-6.45
Davis Advisers0.00998.960.00%3.24
Defiance ETFs-1.47908.82-0.16%-95.86
Focus Financial Partners-5.14891.00-0.58%163.98
AXS Investments-10.71815.17-1.31%330.37
Timothy Plan16.25785.692.07%98.00
Equitable53.83782.526.88%467.89
Redwood-88.55741.10-11.95%-27.05
Litman Gregory Capital Partners LLC-0.02738.680.00%-156.41
Howard Capital Management37.94669.575.67%57.00
Roundhill Investments-16.84650.65-2.59%-68.79
Engine No. 118.86649.732.90%102.83
Advisors Asset Management46.08618.957.45%167.92
Day Hagan Asset Management28.17615.524.58%65.37
Doubleline ETF Adviser LP13.78555.572.48%213.84
Tortoise-1.24546.50-0.23%-104.02
Nationwide-12.87500.77-2.57%-96.20
Anfield Group1.87477.210.39%-15.06
Aptus Holdings LLC15.88459.573.46%232.84
ClearShares LLC-15.07446.87-3.37%-49.82
Teucrium27.49422.726.50%-155.43
Core Alternative Capital-10.89403.37-2.70%-125.47
Liquid Strategies-1.16401.91-0.29%-37.09
Morgan Stanley41.38399.2310.37%248.29
Envestnet12.27384.373.19%367.68
FCF Advisors-4.12366.24-1.13%11.85
Wahed Invest LLC15.17344.164.41%70.09
Neos Investments LLC73.81321.2822.97%311.49
Neuberger Berman-2.66321.26-0.83%74.98
Matthews International Capital Management4.49307.451.46%122.36
Adaptive Investments-4.16302.24-1.38%17.86
Retireful LLC9.13293.753.11%-29.31
Oneascent Holdings LLC-21.00258.35-8.13%0.38
Western & Southern Mutual Holding Co.-77.83244.28-31.86%-76.00
Cary Street Partners Financial LLC /VA/-1.92239.14-0.80%46.39
Renaissance Capital41.25237.8317.34%52.36
AGF-56.20219.06-25.65%-126.71
Little Harbor Advisors-3.65212.71-1.71%-28.38
WBI-2.61210.56-1.24%-17.19
Impact Shares0.95199.660.48%16.65
Truemark Group-2.08199.16-1.04%-5.48
AmeriLife-4.13191.31-2.16%-34.67
Stf Management LP4.05190.122.13%4.69
Syntax-4.95186.99-2.65%-14.72
Summit Global Investments, LLC15.99183.328.72%172.90
CI Financial-1.55170.87-0.91%-5.34
CornerCap Investment Counsel, Inc.0.00166.560.00%11.09
Rayliant31.61165.7019.07%39.72
Truist0.67165.350.40%0.18
Kingsview Partners LLC5.74157.123.66%-25.92
Volatility Shares LLC-2.27152.82-1.49%135.14
Thrivent Financial for Lutherans0.00142.560.00%55.76
SRN Advisors0.00136.860.00%-20.90
Intangible Capital0.00132.760.00%-7.88
Humankind USA LLC-1.41132.20-1.07%-2.83
Swan Global Investments0.37129.940.29%-9.37
Angel Oak Capital Advisors, LLC4.03128.223.14%52.39
Paralel Technologies LLC0.00118.770.00%6.95
Federated Hermes, Inc.2.51116.002.17%42.50
IronHorse Holdings5.96113.395.26%8.52
Thor Trading Advisors LLC5.98113.115.29%19.10
Neil Azous Revocable Trust1.02112.590.91%-3.79
Soundwatch Capital LLC1.22112.051.09%0.04
Toews Corp.12.31105.9611.62%17.64
Baird Financial Group-5.63101.60-5.54%1.58
Arrow Funds-0.95100.05-0.95%-18.04
Absolute Investment Advisers LLC0.7197.000.73%7.80
OBP Capital LLC-0.4993.13-0.52%0.41
Inverdale Capital Management LLC6.2487.597.13%12.07
First Manhattan Co.-0.0680.80-0.07%-0.35
Pettee Investors1.9479.462.44%12.45
AB Holding7.0874.909.45%7.08
Water Island Capital6.6274.818.84%-12.84
Beyond Investing0.0074.670.00%-1.72
Panagram Structured Asset Management, LLC2.5674.503.43%73.18
Exponential ETFs-0.0173.75-0.02%-0.07
SEI Investments-5.9371.33-8.32%1.66
Natixis1.4671.222.05%11.57
The Leuthold Group LLC0.7769.151.12%3.77
Alexis Investment Partners LLC-0.2568.35-0.36%9.39
EntrepreneurShares, LLC0.0067.840.00%6.05
Clockwise Capital LLC0.0066.380.00%13.58
Cohanzick Management0.0064.900.00%0.56
Zacks14.2963.5322.50%41.83
Q3 Asset Management Corp.-0.2860.97-0.47%4.01
Formidable Asset Management-3.1458.66-5.34%2.93
Ridgeline Research LLC1.7255.203.12%14.56
Logan Capital Management Inc.0.0054.430.00%0.82
GeaSphere LLC1.0254.171.88%-6.23
Client First Investment Management LLC1.7754.023.28%34.12
Valkyrie Funds LLC10.0153.3218.77%14.06
ProcureAM0.0052.700.00%-2.61
Guinness Atkinson Asset Management0.9952.511.89%4.99
Sammons Enterprises, Inc.16.7652.0732.18%50.73
2nd Vote Value Investments, Inc0.0049.750.00%1.65
Cambiar Holdings-0.2648.62-0.54%-0.95
Alger0.9446.342.02%2.63
Hennessy Advisors0.0045.840.00%0.69
Goose Hollow Capital Management LLC0.0042.090.00%15.53
ETF Series Solutions0.0041.550.00%-6.88
First Pacific Advisors LP0.6340.191.57%5.18
Hull Investments LLC1.7137.344.57%9.62
Applied Finance Group2.0837.195.58%17.33
Eldridge Industries LLC35.0035.2799.25%35.00
GAMCO Investors, Inc.0.6032.021.86%2.07
Sheaff Brock Capital Management LLC0.0030.900.00%0.84
Highland Capital Management4.4030.7014.34%4.42
DoubleLine Capital LP2.0129.156.88%29.06
Faith Investor Services, LLC0.9828.313.48%4.69
Cultivar Capital, Inc.0.6325.702.45%0.66
Convergence Investment Partners, LLC0.0025.540.00%-0.28
AlphaMark Advisors0.0025.240.00%-0.06
Reflection Asset Management, LLC0.0025.030.00%1.22
PMV Capital Advisers LLC-0.2624.28-1.06%-4.59
Penserra Capital Management LLC21.7924.1190.37%25.87
Running Oak Capital LLC4.6622.9520.31%22.19
ASYMmetric ETFs-3.6821.44-17.15%-4.72
Knights of Columbus0.0020.460.00%0.00
Alphatrai Funds, Inc.0.0020.280.00%5.73
Point Bridge Capital0.0019.370.00%-0.07
Mairs & Power, Inc.0.0018.040.00%0.44
Build Asset Management LLC0.0017.720.00%-13.79
Subversive Capital Advisor LLC0.0016.220.00%13.22
Dawn Global Topco Ltd.0.8515.055.66%11.26
WealthTrust Asset Management LLC0.0014.930.00%2.62
Texas Capital Bancshares, Inc.1.7611.8114.87%1.76
Future Fund Advisors0.0111.350.09%0.49
Spear Advisors LLC1.5011.3213.22%7.50
Changebridge Capital LLC0.0011.200.00%0.43
The BAD Investment Company0.0010.840.00%1.53
Rcube SAS0.008.720.00%2.94
Counterpoint Mutual Funds LLC0.007.870.00%0.52
Tema Global Ltd.0.007.500.00%6.08
Advocate Capital Management LLC-2.797.34-38.05%-21.95
Democracy Investment Management LLC-4.837.28-66.35%1.56
Digital Currency Group, Inc.0.006.550.00%-0.24
Power Financial Corp.0.006.530.00%6.00
Lyrical Partners0.006.300.00%-13.57
VegTech LLC0.005.170.00%0.00
Tuttle Tactical Management, LLC0.564.4512.63%4.81
Cboe Vest Financial LLC0.004.330.00%3.27
Kelly Intelligence LLC0.284.046.86%0.78
V-Square Quantitative Management LLC0.003.990.00%0.00
Dynamic Shares LLC0.003.770.00%0.00
Jacob Asset Management0.003.080.00%-0.15
Hypatia Capital Advisors LLC0.002.690.00%2.36
Element ETFs LLC0.002.540.00%-1.89
Distribution Cognizant LLC0.002.360.00%0.00
Bitwise Asset Management, Inc.0.672.1531.19%-0.45
Grizzle Investment Management LLC0.001.290.00%0.00
Kingsbarn Capital Management LLC0.001.150.00%0.01
Merk0.001.120.00%-0.45
Eurazeo SA0.261.0424.54%0.26
Convexityshares, LLC-0.110.97-11.28%0.57
Parabla, LLC0.000.820.00%0.49
Inherent Wealth Fund LLC-0.210.77-27.41%-0.72
Tradelegs LLC0.000.580.00%0.00
Calamos Family Partners0.000.000.00%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.

Sumit Roy is the senior ETF analyst for etf.com, where he has worked for 13 years. He creates a variety of content for the platform, including news articles, analysis pieces, videos and podcasts.

Before joining etf.com, Sumit was the managing editor and commodities analyst for Hard Assets Investor. In those roles, he was responsible for most of the operations of HAI, a website dedicated to education about commodities investing.

Though he still closely follows the commodities beat, Sumit covers a much broader assortment of topics for etf.com, with a particular focus on stock and bond exchange-traded funds.

He is the host of etf.com’s Talk ETFs, a popular video series that features weekly interviews with thought leaders in the ETF industry. Sumit is also co-host of Exchange Traded Fridays, etf.com’s weekly podcast series.

He lives in the San Francisco Bay Area, where he enjoys climbing the city’s steep hills, playing chess and snowboarding in Lake Tahoe.