Gold ETF ‘GLD’ Dominates Flows Again In June

July 05, 2016

As markets wrangled with news of a successful Brexit vote in June, which triggered the worst-ever global equity loss, the SPDR Gold Trust (GLD | A-100) was again the single most popular ETF in the month, raking in $3.3 billion in assets.

So far in 2016, the fund has seen asset gains of more than $12 billion—30% growth in assets under management in six months, and the year's largest net creations thus far.

GLD has been the leading beneficiary of investors' demand for safe havens amid concerns about global growth. Another hugely popular ETF continues to be the iShares Core U.S. Aggregate Bond ETF (AGG | A-98), which attracted $1.4 billion in assets in June. AGG is holding on to the No. 2 ETF spot in the ranking of 2016's biggest creations, with net inflows of $6.7 billion year-to-date.

Int'l Equity ETFs Fall Into Favor

June also saw a return to some riskier fare in the form of international equities. In fact, international equities were almost twice as attractive to U.S. investors as U.S. equities were last month, raking in nearly $5 billion—the single most popular asset class.

Among the most in-demand strategies were none other than emerging market funds, such as the iShares Core MSCI Emerging Market ETF (IEMG | A-99) and the Vanguard FTSE Emerging Market ETF (VWO | B-96). Each fund gathered $1.3 billion in the month. For IEMG, the asset gains represented a 10% jump in total assets under management, which now sit around $12.5 billion.

Emerging markets have seen a bit of a resurgence in investor appetite thanks in part to a growing school of thought that the beaten-down region could be beginning to find a bottom, although the process could be a long one, according to experts such as Dow Global's Mark Dow.

Fixed Income & Commodities See Inflows

From an asset class perspective, U.S. fixed income and commodities saw solid demand, centered on funds such as GLD and AGG. Each asset class raked in upward of $4 billion in fresh net assets.

In all, investors poured a net of $17 billion into U.S.-listed ETFs last month, putting year-to-date ETF asset inflows at roughly $65 billion.

What wasn't all that popular in June were broad large-cap U.S. stock funds in the form of the SPDR S&P 500 (SPY | A-99) and the PowerShares QQQ Trust (QQQ | A-66), as well as financial stocks. The Financial Select Sector SPDR (XLF | A-94) lost $1.3 billion in assets last month. 

 

Biggest Gainers (June 2016)

Ticker Fund Issuer June 2016 Net
Flows ($M)
AUM ($M) % of AUM YTD Net Flows
($M)
GLD SPDR Gold Trust SSgA 3,339.51 40,353.64 8.28% 12,177.62
VEA Vanguard FTSE Developed Markets ETF Vanguard 1,756.87 32,619.23 5.39% 4,978.71
AGG iShares Core U.S. Aggregate Bond ETF BlackRock 1,448.63 38,774.80 3.74% 6,762.84
IEMG iShares Core MSCI Emerging Markets ETF BlackRock 1,303.85 12,426.77 10.49% 2,392.95
VWO Vanguard FTSE Emerging Markets ETF Vanguard 1,301.32 37,392.71 3.48% 1,185.08
VOO Vanguard S&P 500 Index Fund Vanguard 1,154.73 45,835.49 2.52% 4,860.87
VNQ Vanguard REIT Index Fund Vanguard 1,086.76 34,056.84 3.19% 3,643.19
USMV iShares Edge MSCI Min Vol USA ETF BlackRock 853.23 14,394.31 5.93% 6,217.44
GDX VanEck Vectors Gold Miners ETF Van Eck 849.37 9,560.95 8.88% 983.67
EFA iShares MSCI EAFE ETF BlackRock 618.51 56,452.14 1.10% 618.51

 

Biggest Gainers (YTD)

Ticker Fund Issuer YTD Net
Flows ($M)
AUM ($M) % of AUM June 2016 Net
Flows ($M)
GLD SPDR Gold Trust SSgA 12,177.62 40,353.64 30.18% 3,339.51
AGG iShares Core U.S. Aggregate Bond ETF BlackRock 6,762.84 38,774.80 17.44% 1,448.63
USMV iShares Edge MSCI Min Vol USA ETF BlackRock 6,217.44 14,394.31 43.19% 853.23
VEA Vanguard FTSE Developed Markets ETF Vanguard 4,978.71 32,619.23 15.26% 1,756.87
VOO Vanguard S&P 500 Index Fund Vanguard 4,860.87 45,835.49 10.61% 1,154.73
VNQ Vanguard REIT Index Fund Vanguard 3,643.19 34,056.84 10.70% 1,086.76
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF BlackRock 3,511.89 29,368.06 11.96% 382.32
BND Vanguard Total Bond Market Index Fund Vanguard 2,897.01 31,383.40 9.23% 499.41
TIP iShares TIPS Bond ETF BlackRock 2,850.61 17,977.85 15.86% -365.79
EFAV iShares Edge MSCI Min Vol EAFE ETF BlackRock 2,792.78 7,272.00 38.40% 120.88

 

Biggest Losers (June 2016)

Ticker Fund Issuer June 2016 Net
Flows ($M)
AUM ($M) % of AUM YTD Net Flows
($M)
 SPY  SPDR S&P 500 ETF Trust SSgA -4,498.53 176,399.76 -2.55% -8,019.04
 QQQ  PowerShares QQQ Trust Invesco PowerShares -1,429.79 34,172.24 -4.18% -6,309.23
 XLF  Financial Select Sector SPDR Fund SSgA -1,384.87 14,811.06 -9.35% -3,410.19
HEDJ WisdomTree Europe Hedged Equity Fund WisdomTree -1,331.32 10,498.93 -12.68% -5,141.24
JNK SPDR Barclays High Yield Bond ETF SSgA -1,061.21 11,177.90 -9.49% 1,021.14
IWM iShares Russell 2000 ETF BlackRock -890.11 24,996.83 -3.56% -2,460.50
 DXJ  WisdomTree Japan Hedged Equity Fund WisdomTree -819.12 6,789.18 -12.07% -5,062.54
 IEF  iShares 7-10 Year Treasury Bond ETF BlackRock -607.46 9,625.05 -6.31% 961.22
 BSV  Vanguard Short-Term Bond Index Fund Vanguard -565.06 18,447.24 -3.06% 741.44
XLY Consumer Discretionary Select Sector SPDR Fund SSgA -556.11 9,580.92 -5.80% -1,693.01

 

Biggest Losers (YTD)

Ticker Fund YTD Net Flows ($M) AUM ($M) % of AUM June 2016 Net
Flows ($M)
YTD Net Flows
($M)
SPY SPDR S&P 500 ETF Trust SSgA -8,019.04 176,399.76 -4.55% -4,498.53
QQQ PowerShares QQQ Trust Invesco PowerShares -6,309.23 34,172.24 -18.46% -1,429.79
HEDJ WisdomTree Europe Hedged Equity Fund WisdomTree -5,141.24 10,498.93 -48.97% -1,331.32
DXJ WisdomTree Japan Hedged Equity Fund WisdomTree -5,062.54 6,789.18 -74.57% -819.12
EWJ iShares MSCI Japan ETF BlackRock -4,059.17 14,555.51 -27.89% -282.87
EZU iShares MSCI Eurozone ETF BlackRock -3,628.89 9,511.91 -38.15% -54.23
XLF Financial Select Sector SPDR Fund SSgA -3,410.19 14,811.06 -23.02% -1,384.87
IWM iShares Russell 2000 ETF BlackRock -2,460.50 24,996.83 -9.84% -890.11
IWF iShares Russell 1000 Growth ETF BlackRock -2,392.86 28,994.13 -8.25% 40.69
FXH First Trust Health Care AlphaDEX Fund First Trust -2,048.04 1,123.85 -182.23% -35.22

 

Asset Classes June 2016

  Net Flows ($M) AUM ($M) % of AUM
U.S. Equity 2,962.69 1,222,341.31 0.24%
International Equity 4,976.89 465,327.39 1.07%
U.S. Fixed Income 4,187.26  383,686.24 1.09%
International Fixed Income 1,508.55 36,317.79 4.15%
Commodities 4,058.62 73,053.76 5.56%
Currency 175.57 1,421.14 12.35%
Leveraged 141.35            24,422.19 0.58%
Inverse -690.82 19,370.58 -3.57%
Asset Allocation 262.29 6,077.21 4.32%
Alternatives -403.94 3,816.88 -10.58%
Total: 17,178.45 2,235,834.49 0.77%

 

Asset Classes YTD 2016

  Net Flows ($M) AUM ($M) % of AUM
U.S. Equity 7,088.06 1,222,341.31 0.58%
International Equity -9,662.91 465,327.39 -2.08%
U.S. Fixed Income 41,806.63 383,686.24 10.90%
International Fixed Income 5,763.31 36,317.79 15.87%
Commodities 15,913.96 73,053.76 21.78%
Currency -12.22 1,421.14 -0.86%
Leveraged -319.24 24,422.19 -1.31%
Inverse 3,560.04 19,370.58 18.38%
Asset Allocation -246.51 6,077.21 -4.06%
Alternatives 1,092.77 3,816.88 28.63%
Total: 64,983.89 2,235,834.49 2.91%

 

 

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