ETF Inflows Running Well Ahead Of Last Year

ETF Inflows Running Well Ahead Of Last Year

Financial markets recovered for a second-straight month in May, paving the way for investors to add money into ETFs. On net, $23.1 billion flowed into U.S.-listed ETFs during the month, pushing year-to-date inflows up to $143.7 billion. That's more than double the $68.1 billion of inflows seen at the end of May 2019. 

Fed Begins Purchases 

Interestingly, even though equities were among the biggers winners in terms of price performance during May, fixed income was the big winner in terms of ETF inflows. An impressive $27.7 billion entered U.S. fixed income ETFs in the month as the Federal Reserve began purchases of several large corporate bond funds. 

A few of the funds that the central bank purchased, including the iShares iBoxx USD High Yield Corporate Bond ETF (HYG), the iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD), the Vanguard Short-Term Corporate Bond ETF (VCSH) and the SPDR Bloomberg Barclays High Yield Bond ETF (JNK), made the top inflows list for May. In total, the Fed has purchased nearly $3 billion of corporate bond ETFs so far.

Tech Funds In Favor 

Meanwhile, ETF investors were a bit more tepid when it came to equity funds, even as prices for stocks rallied sharply, hitting their best levels since early March. U.S. equity ETFs eked out net inflows of $391 million during the month, while international equity ETFs registered net outflows of $9.7 billion.

The tech-heavy Invesco QQQ Trust (QQQ) and the Vanguard Information Technology ETF (VGT) were favorites as investors focused their purchases on beneficiaries of the COVID-19 and post-COVID-19 environment, including tech megacaps, smaller software firms and video game makers. 

On the other hand, international equity ETFs like the iShares Core MSCI Emerging Markets ETF (IEMG) and the iShares China Large-Cap ETF (FXI) were shunned. Renewed tensions between the U.S. and China soured the sentiment on international, and particularly, emerging market, stocks.

'GLD' Quietly Ascending 

Even as stocks and bonds get all the headlines, the asset quietly making progress has been gold. Prices for the safe-haven metal remained near seven-year highs during May, while the SPDR Gold Trust (GLD) gathered $3.7 billion of fresh assets. That brings year-to-date inflows for the fund up to $12.4 billion. 

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

 

Top Gainers (May 2020)

Ticker	Name	Issuer	Net Flows ($,mm)	AUM ($M)	% of AUM	YTD 2020 Net Flows($,M)
HYG	iShares iBoxx USD High Yield Corporate Bond ETF	Blackrock	4,383.99	24,535.71	17.87%	6,129.19
QQQ	Invesco QQQ Trust	Invesco	3,709.24	107,899.74	3.44%	11,936.43
GLD	SPDR Gold Trust	State Street Global Advisors	3,678.11	61,995.26	5.93%	12,354.72
LQD	iShares iBoxx USD Investment Grade Corporate Bond ETF	Blackrock	2,535.07	49,221.54	5.15%	11,993.97
BND	Vanguard Total Bond Market ETF	Vanguard	2,206.51	53,536.28	4.12%	2,957.78
VCSH	Vanguard Short-Term Corporate Bond ETF	Vanguard	1,783.76	26,288.41	6.79%	387.06
JNK	SPDR Bloomberg Barclays High Yield Bond ETF	State Street Global Advisors	1,730.12	11,965.41	14.46%	722.53
VGT	Vanguard Information Technology ETF	Vanguard	1,351.01	29,691.97	4.55%	2,788.65
JPST	JPMorgan Ultra-Short Income ETF	JPMorgan Chase	1,330.76	11,339.50	11.74%	1,115.44
AGG	iShares Core U.S. Aggregate Bond ETF	Blackrock	1,322.54	72,419.43	1.83%	337.06

 

Top Gainers (Year-to-Date)

Ticker	Name	Issuer	Net Flows ($,mm)	AUM ($M)	% of AUM	May 2020 Net Flows($,M)
VOO	Vanguard S&P 500 ETF	Vanguard	15,618.79	138,333.01	11.29%	199.96
GLD	SPDR Gold Trust	State Street Global Advisors	12,354.72	61,995.26	19.93%	3,678.11
LQD	iShares iBoxx USD Investment Grade Corporate Bond ETF	Blackrock	11,993.97	49,221.54	24.37%	2,535.07
QQQ	Invesco QQQ Trust	Invesco	11,936.43	107,899.74	11.06%	3,709.24
VTI	Vanguard Total Stock Market ETF	Vanguard	10,102.40	139,387.42	7.25%	284.41
BIL	SPDR Bloomberg Barclays 1-3 Month T-Bill ETF	State Street Global Advisors	9,675.75	18,516.49	52.25%	-686.54
USO	United States Oil Fund LP	US Commodity Funds	6,530.08	4,594.29	142.13%	-2.84
HYG	iShares iBoxx USD High Yield Corporate Bond ETF	Blackrock	6,129.19	24,535.71	24.98%	4,383.99
XLV	Health Care Select Sector SPDR Fund	State Street Global Advisors	5,889.52	26,225.75	22.46%	1,056.46
ESGU	iShares ESG MSCI U.S.A. ETF	Blackrock	5,631.67	7,238.39	77.80%	242.91

 

Biggest Losers (May 2020)

Ticker	Name	Issuer	Net Flows ($,mm)	AUM ($M)	% of AUM	YTD 2020 Net Flows($,M)
SPY	SPDR S&P 500 ETF Trust	State Street Global Advisors	-3,262.10	269,294.04	-1.21%	-21,970.17
EFA	iShares MSCI EAFE ETF	Blackrock	-2,715.59	45,498.88	-5.97%	-9,524.26
SDY	SPDR S&P Dividend ETF	State Street Global Advisors	-1,880.52	15,493.34	-12.14%	-1,402.99
FLGE	Credit Suisse FI Large Cap Growth Enhanced ETN	Credit Suisse	-1,487.65	338.73	-439.18%	-1,531.20
XLU	Utilities Select Sector SPDR Fund	State Street Global Advisors	-1,363.55	10,799.69	-12.63%	1,021.14
FRLG	Large Cap Growth Index-Linked ETN	Goldman Sachs	-1,252.08	162.72	-769.46%	-1,120.95
FIHD	UBS AG FI Enhanced Global High Yield ETN	UBS	-1,219.08	50.43	-2,417.35%	-1,116.43
IVV	iShares Core S&P 500 ETF	Blackrock	-1,177.19	189,590.75	-0.62%	2,688.16
FBGX	UBS AG FI Enhanced Large Cap Growth ETN	UBS	-1,093.84	246.85	-443.13%	-1,140.30
FXI	iShares China Large-Cap ETF	Blackrock	-1,057.81	3,030.69	-34.90%	-1,100.06

 

Biggest Losers (Year-to-Date)

Ticker	Name	Issuer	Net Flows ($,mm)	AUM ($M)	% of AUM	May 2020 Net Flows($,M)
SPY	SPDR S&P 500 ETF Trust	State Street Global Advisors	-21,970.17	269,294.04	-8.16%	-3,262.10
EFA	iShares MSCI EAFE ETF	Blackrock	-9,524.26	45,498.88	-20.93%	-2,715.59
IEMG	iShares Core MSCI Emerging Markets ETF	Blackrock	-4,901.63	46,300.63	-10.59%	-1,013.62
EEM	iShares MSCI Emerging Markets ETF	Blackrock	-4,871.74	20,207.16	-24.11%	-898.39
IWM	iShares Russell 2000 ETF	Blackrock	-4,083.16	36,657.63	-11.14%	-1,034.22
VWO	Vanguard FTSE Emerging Markets ETF	Vanguard	-3,811.16	51,653.11	-7.38%	-813.05
EWJ	iShares MSCI Japan ETF	Blackrock	-3,549.42	9,633.80	-36.84%	-289.51
FLOT	iShares Floating Rate Bond ETF	Blackrock	-3,519.70	6,085.03	-57.84%	-374.84
VNQ	Vanguard Real Estate ETF	Vanguard	-3,122.20	27,608.03	-11.31%	-1,010.53
IJH	iShares Core S&P Mid-Cap ETF	Blackrock	-3,044.51	42,720.32	-7.13%	-575.88

 

Asset Classes (May 2020)

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	391.19	2,380,840.89	0.02%
International Equity	-9,717.69	746,782.21	-1.30%
U.S. Fixed Income	27,737.84	835,100.40	3.32%
International Fixed Income	1,990.83	88,415.76	2.25%
Commodities ETFs	6,213.79	114,489.63	5.43%
Currency	-314.68	1,997.34	-15.75%
Leveraged	-5,266.85	31,803.53	-16.56%
Inverse	1,569.14	17,051.00	9.20%
Asset Allocation	169.99	9,462.00	1.80%
Alternatives	293.26	4,477.39	6.55%
Total:	23,066.82	4,230,420.17	0.55%

 

Asset Classes (Year-to-Date)

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	57,181.73	2,380,840.89	2.40%
International Equity	-18,133.81	746,782.21	-2.43%
U.S. Fixed Income	61,166.87	835,100.40	7.32%
International Fixed Income	1,297.83	88,415.76	1.47%
Commodities ETFs	28,278.94	114,489.63	24.70%
Currency	690.30	1,997.34	34.56%
Leveraged	2,888.32	31,803.53	9.08%
Inverse	11,469.10	17,051.00	67.26%
Asset Allocation	229.95	9,462.00	2.43%
Alternatives	-1,382.39	4,477.39	-30.87%
Total:	143,686.84	4,230,420.17	3.40%

 

May 2020 ETF Issuer League Table

Issuer	Net Flows ($,M)	AUM ($,M)	% of AUM	YTD 2020 Net Flows($,M)
Blackrock	1,506.84	1,603,383.81	0.09%	20,738.81
Vanguard	10,377.45	1,126,158.26	0.92%	63,726.35
State Street Global Advisors	3,590.36	698,017.53	0.51%	23,520.55
Invesco	2,940.52	218,497.38	1.35%	1,941.56
Charles Schwab	522.67	154,863.51	0.34%	5,714.41
First Trust	1,235.78	82,837.56	1.49%	2,362.56
VanEck	828.06	41,073.65	2.02%	-1,092.27
ProShares	980.16	38,964.65	2.52%	13,105.11
WisdomTree	-691.04	30,910.31	-2.24%	-2,587.90
JPMorgan Chase	1,397.88	28,459.45	4.91%	-445.60
Allianz	795.89	21,362.53	3.73%	-282.41
FMR LLC	388.87	16,796.94	2.32%	1,296.18
Goldman Sachs	-957.06	16,292.91	-5.87%	77.51
Deutsche Bank	410.22	14,826.18	2.77%	-259.66
Direxion	370.98	14,559.05	2.55%	7,022.52
Northern Trust	178.09	12,580.92	1.42%	-1,497.69
Mirae Asset	338.43	10,844.73	3.12%	586.88
SS&C	-114.51	6,853.84	-1.67%	-1,131.03
ARK	646.53	5,975.02	10.82%	1,779.60
US Commodity Funds	1.00	5,925.94	0.02%	7,205.02
Franklin Templeton	132.77	5,728.75	2.32%	1,719.84
Pacer Advisors	-0.11	5,296.87	-0.00%	488.52
Victory Capital	-41.01	4,535.97	-0.90%	-221.05
Aberdeen Standard Investments	295.24	4,202.74	7.02%	843.11
John Hancock	-53.93	4,118.86	-1.31%	29.73
The Hartford	-51.23	3,429.11	-1.49%	-253.49
ETFMG	138.16	3,406.04	4.06%	11.40
Innovator	159.20	3,238.55	4.92%	1,059.01
Principal	69.65	3,211.74	2.17%	166.21
Credit Suisse	-843.33	3,133.17	-26.92%	-2,401.56
New York Life	142.19	3,124.86	4.55%	-47.28
Exchange Traded Concepts	443.34	2,928.83	15.14%	260.49
CICC	-618.92	2,739.07	-22.60%	-56.59
Janus Henderson	209.43	2,122.99	9.86%	684.20
Barclays Capital Inc.	-523.61	2,004.68	-26.12%	-2,189.36
American Century Investments	150.77	1,782.43	8.46%	761.89
Precidian Investments LLC	-0.22	1,615.19	-0.01%	-0.22
Nuveen Securities	136.24	1,400.63	9.73%	469.45
Vident	-78.32	1,276.02	-6.14%	-153.78
Legg Mason	-173.71	1,152.02	-15.08%	-171.61
Amplify	110.48	1,058.81	10.43%	255.58
GraniteShares	98.07	1,045.31	9.38%	283.98
UBS	-2,412.53	1,040.93	-231.77%	-2,507.51
US Global Investors	299.95	1,020.54	29.39%	905.12
Toroso Investments	56.34	1,014.34	5.55%	530.07
Prudential	6.16	1,004.90	0.61%	133.17
Davis Advisers	20.28	798.33	2.54%	144.55
AdvisorShares	84.28	750.60	11.23%	146.35
O’Shares Investments	85.35	737.76	11.57%	38.76
BMO	-19.48	726.89	-2.68%	41.93
Transamerica Funds	-17.79	704.65	-2.52%	-26.55
Columbia Management Investment Advisers, LLC	31.47	688.35	4.57%	70.50
Cambria	40.42	597.46	6.77%	32.36
Aptus Capital Advisors	32.61	597.00	5.46%	140.55
Virtus Investment Partners	-67.23	562.37	-11.95%	-204.85
Main Management	7.96	529.34	1.50%	26.01
Inspire	15.45	453.51	3.41%	21.90
FormulaFolios	24.84	401.40	6.19%	6.89
WBI	-6.23	393.81	-1.58%	-36.67
EMPIRICAL FINANCE LLC	-12.61	393.21	-3.21%	1.92
Nationwide	18.35	377.12	4.87%	6.60
Tortoise	32.34	343.17	9.42%	-50.92
The Motley Fool	14.64	322.73	4.53%	27.21
Defiance ETFs	16.92	321.09	5.27%	140.84
Timothy Plan	7.87	304.26	2.59%	83.79
Sprott, Inc.	15.44	290.81	5.31%	7.25
Merk	20.60	276.88	7.44%	59.86
Regents Park Funds	16.84	250.65	6.72%	164.57
The Bank of New York Mellon	17.80	250.05	7.12%	28.25
ClearShares	10.01	219.34	4.56%	22.82
Liquid Strategies	-0.55	216.17	-0.25%	108.30
Citigroup Inc	0.35	186.19	0.19%	0.70
AGF	10.24	177.43	5.77%	33.21
Howard Capital Management	6.11	174.87	3.49%	67.53
Swedish Export Credit	-4.46	153.63	-2.90%	-49.58
Teucrium	-1.42	142.86	-1.00%	-3.34
Reality Shares	-7.36	137.27	-5.36%	-16.58
EntrepreneurShares, LLC	0.00	136.92	0.00%	19.37
Core Alternative Capital	2.83	134.17	2.11%	21.44
Redwood Investment Management	46.66	129.30	36.09%	32.55
Tuttle Tactical Management, LLC	113.10	123.36	91.68%	113.10
TrimTabs	2.70	116.34	2.32%	-11.57
Distillate Capital	16.40	112.98	14.52%	52.30
Arrow Funds	3.47	106.11	3.27%	-7.05
Pacific Life	0.00	101.53	0.00%	1.27
Highland Capital Management	7.85	96.71	8.12%	-169.03
OBP Capital LLC	5.17	80.99	6.39%	15.76
Exponential ETFs	6.57	79.53	8.26%	1.33
Premise Capital	0.00	61.03	0.00%	25.22
Donald L. Hagan LLC	10.66	58.98	18.07%	56.20
Gadsden	0.00	54.18	0.00%	5.66
Cboe Vest Financial LLC	0.00	53.64	0.00%	7.76
Renaissance Capital	6.24	52.04	11.99%	4.89
Strategy Shares	9.08	49.74	18.25%	22.68
Natixis	0.00	47.88	0.00%	2.09
Metaurus Advisors	-0.00	44.69	-0.00%	0.01
Little Harbor Advisors	31.38	35.71	87.89%	30.83
Syntax Advisors	3.19	35.33	9.02%	-27.65
Belpointe Asset Management, LLC	0.01	32.64	0.02%	-15.40
Wahed Invest LLC	0.61	32.26	1.89%	10.12
Absolute Investment Advisers LLC	2.19	28.51	7.68%	28.83
AAM Holdings Inc.	-0.53	28.01	-1.88%	-9.71
iM Global Partner	1.25	24.70	5.05%	-7.91
Salt Financial	-0.09	24.33	-0.37%	2.49
EventShares	0.00	22.34	0.00%	4.14
Beyond Investing	0.00	19.30	0.00%	8.12
AlphaMark Advisors	0.00	18.09	0.00%	0.00
Sage	0.00	18.04	0.00%	0.00
Change Finance	1.03	17.78	5.79%	5.47
ProcureAM	0.00	16.87	0.00%	8.03
ETF Series Solutions	0.00	16.53	0.00%	3.13
Roundhill Investments	2.52	16.28	15.48%	4.30
Pettee Investors	-0.55	14.18	-3.90%	7.09
Impact Shares	0.00	13.66	0.00%	2.17
UP Fintech Holding	0.00	12.88	0.00%	3.00
Counterpoint Mutual Funds LLC	-0.59	12.37	-4.76%	12.90
Point Bridge Capital	-1.10	8.38	-13.06%	-4.13
TrueMark Investments, LLC	3.70	7.90	46.89%	7.77
The Leuthold Group LLC	0.60	4.95	12.17%	4.92
Water Island Capital Partners LP	1.24	3.79	32.68%	1.24
EquBot	0.00	3.67	0.00%	0.25
Whitford Asset Management	0.00	3.02	0.00%	-0.22
Guinness Atkinson Asset Management	0.00	1.89	0.00%	-0.60
Global Beta Advisors	0.00	1.45	0.00%	-0.31

 

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.

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