ETFs Register Biggest Monthly Inflow of 2023 in July

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

sumit
Aug 01, 2023
Edited by: Lisa Barr
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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.