2022 on Track to Be Second-Best Year for ETF Inflows

Stocks and bonds finally caught a break in July. After months of relentless selling, both asset classes caught a bid amid hopes that inflation may be peaking and the Federal Reserve may slow the pace of interest rate hikes in the coming months.

Those hopes translated into a strong level of inflows for ETFs. On net, $39.1 billion flowed into U.S.-listed ETFs during the month of July, most of which went into U.S. stock and bond ETFs.

And $10 billion went into U.S. equity ETFs, while $27.9 billion went into U.S. bond ETFs, pushing overall year-to-date inflows for U.S.-listed ETFs to $342.8 billion. Combined with the rise in asset price, AUM climbed to $6.55 trillion.

Those numbers compare with $520.3 billion and $6.6 trillion, respectively, for the same period in 2021.

Second-Best Year for Inflows

This year’s solid ETF inflows in the face of a bear market for both equities and fixed income are remarkable. As FactSet Director of ETF Research Elisabeth Kashner wrote last week, 2022 inflows are on track to exceed all annual inflows records, with the exception of 2021.

“First half 2022 flows of $332 billion exceed full-year levels for every year from 1993-2016, nearly match full-year 2018 and 2019 flows, and equal 64% of full-year 2020 flows. While global investors offload stocks and bonds, ETF customers have been buyers,” she noted. “ETF inflows have likely come from long-term investors, also known as the buy-and-hold crowd. Tactical investors have shifted their attention to bond ETFs. The fear-of-missing-out (FOMO) buyers made their presence known by crowding into 3x leveraged ETFs—and paid dearly.”

Inflows for Broad Market Stock ETFs

July’s ETF inflows reflect Kashner’s observation that the majority of money entering ETFs this year is coming from long-term investors.

The top asset gatherers during the month included the Vanguard S&P 500 ETF (VOO) and the iShares Core S&P 500 ETF (IVV).

On the fixed income side, the iShares U.S. Treasury Bond ETF (GOVT) and the iShares 20+ Year Treasury Bond ETF (TLT) each pulled in more than $3.7 billion in July.

At the same time, a pullback in commodity prices led investors to take money out of those funds. The SPDR Gold Trust (GLD) shed $2.5 billion in assets, while the commodity ETF category as a whole had outflows of $6.3 billion during July.

 

For a full list of the top inflows and outflows for July and 2022 as a whole, see the tables below:

 

Top Gainers (July 2022)

Ticker	Name	Issuer	Net Flows ($,mm)	AUM ($M)	% of AUM	YTD 2022 Net Flows($,M)
GOVT	iShares U.S. Treasury Bond ETF	Blackrock	4,797.71	23,075.49	20.79%	8,157.95
TLT	iShares 20+ Year Treasury Bond ETF	Blackrock	3,782.23	24,520.91	15.42%	8,922.48
VOO	Vanguard S&P 500 ETF	Vanguard	3,772.21	267,498.06	1.41%	29,281.98
LQD	iShares iBoxx USD Investment Grade Corporate Bond ETF	Blackrock	3,137.28	35,246.43	8.90%	1,527.18
IVV	iShares Core S&P 500 ETF	Blackrock	2,251.01	301,981.20	0.75%	15,814.63
TLH	iShares 10-20 Year Treasury Bond ETF	Blackrock	2,215.13	4,675.28	47.38%	3,471.17
IJR	iShares Core S&P Small-Cap ETF	Blackrock	2,093.82	67,548.25	3.10%	1,124.31
HYG	iShares iBoxx USD High Yield Corporate Bond ETF	Blackrock	1,861.40	15,040.39	12.38%	-4,531.40
VTI	Vanguard Total Stock Market ETF	Vanguard	1,748.40	265,643.28	0.66%	14,304.61
JNK	SPDR Bloomberg High Yield Bond ETF	State Street Global Advisors	1,711.84	8,017.68	21.35%	-606.61

 

Top Gainers (Year-to-Date)

Ticker	Name	Issuer	Net Flows ($,mm)	AUM ($M)	% of AUM	July 2022 Net Flows($,M)
VOO	Vanguard S&P 500 ETF	Vanguard	29,281.98	267,498.06	10.95%	3,772.21
IVV	iShares Core S&P 500 ETF	Blackrock	15,814.63	301,981.20	5.24%	2,251.01
VTI	Vanguard Total Stock Market ETF	Vanguard	14,304.61	265,643.28	5.38%	1,748.40
VTV	Vanguard Value ETF	Vanguard	13,033.73	99,047.07	13.16%	210.49
TLT	iShares 20+ Year Treasury Bond ETF	Blackrock	8,922.48	24,520.91	36.39%	3,782.23
TQQQ	ProShares UltraPro QQQ	ProShares	8,777.66	13,483.58	65.10%	-219.33
SCHD	Schwab U.S. Dividend Equity ETF	Charles Schwab	8,305.50	36,463.39	22.78%	984.86
GOVT	iShares U.S. Treasury Bond ETF	Blackrock	8,157.95	23,075.49	35.35%	4,797.71
BND	Vanguard Total Bond Market ETF	Vanguard	6,985.53	83,025.38	8.41%	721.54
SHV	iShares Short Treasury Bond ETF	Blackrock	6,931.67	19,973.57	34.70%	-1,722.63

 

Biggest Losers (July 2022)

Ticker	Name	Issuer	Net Flows ($,mm)	AUM ($M)	% of AUM	YTD 2022 Net Flows($,M)
SPY	SPDR S&P 500 ETF Trust	State Street Global Advisors	-4,882.59	367,916.68	-1.33%	-24,570.34
IWM	iShares Russell 2000 ETF	Blackrock	-3,108.81	53,208.76	-5.84%	-5,117.01
GLD	SPDR Gold Trust	State Street Global Advisors	-2,498.20	56,690.40	-4.41%	2,220.01
BIL	SPDR Bloomberg 1-3 Month T-Bill ETF	State Street Global Advisors	-2,271.55	18,761.90	-12.11%	5,169.95
SHV	iShares Short Treasury Bond ETF	Blackrock	-1,722.63	19,973.57	-8.62%	6,931.67
IJS	iShares S&P Small-Cap 600 Value ETF	Blackrock	-1,687.42	7,346.68	-22.97%	-708.55
SLV	iShares Silver Trust	Blackrock	-1,062.94	9,343.92	-11.38%	-684.93
TIP	iShares TIPS Bond ETF	Blackrock	-1,042.25	30,547.87	-3.41%	-4,922.07
XLF	Financial Select Sector SPDR Fund	State Street Global Advisors	-1,022.67	29,779.27	-3.43%	-8,274.45
XLI	Industrial Select Sector SPDR Fund	State Street Global Advisors	-874.10	12,791.28	-6.83%	-2,694.31

 

Biggest Losers (Year-to-Date)

Ticker	Name	Issuer	Net Flows ($,mm)	AUM ($M)	% of AUM	July 2022 Net Flows($,M)
SPY	SPDR S&P 500 ETF Trust	State Street Global Advisors	-24,570.34	367,916.68	-6.68%	-4,882.59
XLF	Financial Select Sector SPDR Fund	State Street Global Advisors	-8,274.45	29,779.27	-27.79%	-1,022.67
VLUE	iShares MSCI USA Value Factor ETF	Blackrock	-5,243.25	9,121.23	-57.48%	-355.87
IWM	iShares Russell 2000 ETF	Blackrock	-5,117.01	53,208.76	-9.62%	-3,108.81
TIP	iShares TIPS Bond ETF	Blackrock	-4,922.07	30,547.87	-16.11%	-1,042.25
HYG	iShares iBoxx USD High Yield Corporate Bond ETF	Blackrock	-4,531.40	15,040.39	-30.13%	1,861.40
SCHP	Schwab U.S. TIPS ETF	Charles Schwab	-3,260.04	16,240.97	-20.07%	-4.38
XLY	Consumer Discretionary Select Sector SPDR Fund	State Street Global Advisors	-2,871.28	15,149.62	-18.95%	-739.79
XLI	Industrial Select Sector SPDR Fund	State Street Global Advisors	-2,694.31	12,791.28	-21.06%	-874.10
VGK	Vanguard FTSE Europe ETF	Vanguard	-2,428.48	15,572.69	-15.59%	-174.72

 

Asset Classes (July 2022)

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	10,045.35	3,898,579.04	0.26%
International Equity	3,637.03	1,141,688.89	0.32%
U.S. Fixed Income	27,938.69	1,117,990.06	2.50%
International Fixed Income	296.23	140,084.24	0.21%
Commodities	-6,309.62	143,277.84	-4.40%
Currency	447.61	4,256.94	10.51%
Leveraged	233.89	51,589.73	0.45%
Inverse	2,757.80	22,420.89	12.30%
Asset Allocation	-313.88	17,438.50	-1.80%
Alternatives	385.48	7,944.93	4.85%
Total:	39,118.59	6,545,271.06	0.60%

 

Asset Classes (Year-to-Date)

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	139,864.48	3,898,579.04	3.59%
International Equity	67,758.67	1,141,688.89	5.93%
U.S. Fixed Income	90,201.18	1,117,990.06	8.07%
International Fixed Income	4,298.21	140,084.24	3.07%
Commodities	8,612.11	143,277.84	6.01%
Currency	1,685.68	4,256.94	39.60%
Leveraged	18,546.61	51,589.73	35.95%
Inverse	10,022.28	22,420.89	44.70%
Asset Allocation	460.22	17,438.50	2.64%
Alternatives	1,327.86	7,944.93	16.71%
Total:	342,777.31	6,545,271.06	5.24%

 

July 2022 ETF Issuer League Table

Issuer	Net Flows ($,M)	AUM ($,M)	% of AUM	YTD 2022 Net Flows($,M)
Blackrock	15,012.62	2,220,856.00	0.68%	86,852.46
Vanguard	12,091.53	1,905,740.08	0.63%	115,606.86
State Street Global Advisors	-4,198.50	985,118.55	-0.43%	1,867.52
Invesco	3,501.08	359,493.68	0.97%	18,273.11
Charles Schwab	4,014.42	254,042.99	1.58%	19,694.54
First Trust	-213.51	134,307.86	-0.16%	5,285.43
JPMorgan Chase	2,430.09	83,637.82	2.91%	11,324.77
ProShares	2,578.00	62,363.46	4.13%	20,319.76
VanEck	-380.11	52,418.40	-0.73%	2,226.74
WisdomTree	1,155.60	49,663.25	2.33%	7,484.16
Dimensional Holdings	1,369.80	48,924.98	2.80%	9,894.45
Mirae Asset Global Investments Co., Ltd.	86.74	38,818.02	0.22%	3,186.20
Fidelity	289.52	31,147.35	0.93%	1,656.48
Goldman Sachs	223.22	25,153.22	0.89%	2,192.72
PIMCO	113.85	23,733.39	0.48%	-1,703.61
Direxion	182.65	23,480.90	0.78%	7,957.17
Northern Trust	-276.20	21,048.95	-1.31%	2,454.72
DWS	4.80	19,817.42	0.02%	-1,259.14
ARK	416.27	16,681.47	2.50%	440.32
Pacer Advisors	514.47	15,397.58	3.34%	6,762.97
American Century Investments	397.80	13,228.50	3.01%	4,829.94
CICC	-216.51	12,069.75	-1.79%	1,688.16
SS&C	81.73	11,038.68	0.74%	559.92
Franklin Templeton	-373.85	8,600.20	-4.35%	-163.52
Innovator	383.17	8,071.39	4.75%	2,614.23
Victory Capital	83.35	7,870.96	1.06%	1,198.96
Nuveen Securities	56.46	7,658.31	0.74%	749.82
Abrdn Plc	-271.28	7,040.21	-3.85%	786.50
Janus Henderson	93.79	5,420.61	1.73%	1,206.76
Exchange Traded Concepts	-89.72	5,273.93	-1.70%	-390.32
John Hancock	91.70	5,048.51	1.82%	365.20
ETFMG	-47.85	4,293.89	-1.11%	-248.47
New York Life	-26.80	3,959.85	-0.68%	-278.77
The Hartford	2.40	3,800.24	0.06%	86.64
Marygold Cos, Inc.	-541.95	3,754.34	-14.44%	-1,446.42
Amplify Investments	66.26	3,520.85	1.88%	357.25
Principal	-19.54	3,507.08	-0.56%	-886.59
BMO	81.44	3,004.90	2.71%	930.64
Toroso Investments	-10.34	2,886.43	-0.36%	442.02
Barclays Capital Inc.	-77.51	2,806.59	-2.76%	-847.99
US Global Investors	-110.23	2,587.58	-4.26%	-67.46
The Capital Group Companies	299.88	2,312.02	12.97%	2,375.16
Aptus Capital Advisors	-11.31	2,002.25	-0.56%	281.18
AdvisorShares	53.47	1,595.67	3.35%	122.56
Cambria	30.35	1,552.85	1.95%	544.88
GraniteShares	-49.98	1,463.99	-3.41%	98.59
Strategy Shares	-6.33	1,457.21	-0.43%	163.94
Virtus Investment Partners	9.79	1,409.91	0.69%	26.85
Columbia Management Investment Advisers, LLC	-15.27	1,386.65	-1.10%	-224.71
Simplify Asset Management Inc.	-5.70	1,357.01	-0.42%	464.98
Vident	-14.37	1,324.59	-1.08%	32.45
Horizon Kinetics LLC	-79.92	1,323.43	-6.04%	512.22
BNY Mellon	-2.92	1,312.36	-0.22%	213.88
UBS	0.00	1,300.79	0.00%	8.49
The Motley Fool	-6.03	1,221.02	-0.49%	-85.94
Sprott, Inc.	14.68	1,209.18	1.21%	310.80
Defiance ETFs	-3.81	1,183.14	-0.32%	-186.81
Alpha Architect	-14.28	1,098.78	-1.30%	181.09
Inspire	23.30	1,070.85	2.18%	113.71
Main Management	-7.25	1,009.74	-0.72%	11.53
Davis Advisers	-1.15	903.87	-0.13%	-143.00
Distillate Capital	32.35	812.97	3.98%	270.15
Credit Suisse Group AG	28.15	727.07	3.87%	288.60
Roundhill Investments	-9.52	682.45	-1.40%	-82.24
Teucrium	-166.30	678.56	-24.51%	480.27
Nationwide	-9.68	666.67	-1.45%	-8.99
T. Rowe Price Group, Inc.	17.28	664.04	2.60%	175.83
Tortoise	8.88	641.99	1.38%	64.47
Merk	-9.73	625.50	-1.56%	65.51
Timothy Plan	7.98	607.94	1.31%	116.06
Redwood Investment Management	-3.28	575.13	-0.57%	-96.88
Regents Park Funds	-0.21	530.09	-0.04%	207.18
Day Hagan Asset Management	26.71	515.99	5.18%	174.02
Howard Capital Management	-3.47	507.76	-0.68%	-12.16
ClearShares LLC	25.04	491.87	5.09%	115.11
Litman Gregory Capital Partners LLC	106.24	458.03	23.20%	366.84
Engine No. 1 LLC	11.16	450.16	2.48%	220.14
Liquid Strategies	2.02	442.64	0.46%	37.66
Tuttle Tactical Management, LLC	-40.48	420.23	-9.63%	138.04
TrimTabs	-21.68	402.59	-5.38%	-43.21
Core Alternative Capital	102.49	402.03	25.49%	137.70
Cavalier16	-10.08	379.13	-2.66%	-0.81
ORIX Corp.	8.26	347.85	2.37%	141.91
Swedish Export Credit	-37.14	345.03	-10.76%	23.63
Advisors Asset Management	14.26	340.79	4.18%	152.30
Bondbloxx Investment Management LLC	153.10	289.98	52.80%	266.46
Retireful LLC	15.63	280.46	5.57%	292.18
Little Harbor Advisors	1.89	268.10	0.70%	-38.84
AXS Investments	22.71	250.33	9.07%	143.84
WBI	1.31	250.14	0.52%	-15.61
AGF	55.15	216.27	25.50%	95.06
Renaissance Capital	-1.90	210.44	-0.90%	-41.48
Al Marketing LLC	-7.19	203.82	-3.53%	-76.25
Wahed Invest LLC	1.79	202.95	0.88%	50.90
SRN Advisors	-3.86	202.88	-1.90%	-63.78
Truemark Group	7.23	201.34	3.59%	21.11
Syntax Advisors	4.89	197.14	2.48%	-2.72
Wainwright, Inc.	3.48	180.30	1.93%	29.83
Impact Shares	0.55	170.40	0.32%	6.93
Oneascent Holdings LLC	0.00	169.96	0.00%	103.30
Stf Management LP	-3.07	168.71	-1.82%	173.22
Volatility Shares LLC	85.26	162.02	52.62%	194.24
Swan Global Investments	-2.58	158.35	-1.63%	17.83
Truist	2.09	153.91	1.36%	12.70
Rayliant Investment Research	-0.17	151.81	-0.11%	108.09
Kingsview Partners LLC	4.85	151.78	3.19%	42.67
OBP Capital LLC	1.55	148.29	1.04%	20.08
Intangible Capital	-1.80	142.52	-1.26%	-17.06
Gadsden	7.90	136.48	5.79%	19.20
CornerCap Investment Counsel, Inc.	0.97	133.95	0.72%	32.24
Cary Street Partners Financial LLC /VA/	24.19	130.82	18.49%	134.16
Humankind USA LLC	9.01	118.86	7.58%	17.57
Arrow Funds	0.00	114.27	0.00%	-7.76
Doubleline ETF Adviser LP	0.00	110.05	0.00%	49.44
Neil Azous Revocable Trust	7.86	99.33	7.91%	27.54
Water Island Capital Partners LP	-2.06	80.13	-2.57%	56.65
First Manhattan Co.	0.02	73.44	0.02%	0.03
Absolute Investment Advisers LLC	0.63	71.22	0.89%	19.48
Exponential ETFs	-0.14	70.37	-0.19%	-1.16
Pacific Life	1.81	70.04	2.58%	40.88
ProcureAM	-1.04	69.79	-1.49%	-11.91
Pettee Investors	-2.25	67.85	-3.32%	-16.03
Toews Corp.	0.58	67.31	0.86%	15.39
Beyond Investing	1.70	67.13	2.53%	6.79
Inverdale Capital Management LLC	3.08	64.96	4.74%	26.04
Natixis	-0.14	64.81	-0.21%	-1.90
Baird Financial Group	8.24	64.51	12.77%	67.94
GeaSphere LLC	0.46	63.90	0.71%	6.24
Emles Advisors LLC	0.21	60.18	0.34%	3.58
Cohanzick Management	-1.44	60.09	-2.40%	16.98
Power Corporation of Canada	-0.63	58.00	-1.09%	20.23
SEI Investments	4.22	56.60	7.45%	55.68
EntrepreneurShares, LLC	-0.64	55.60	-1.15%	-20.64
Federated Hermes, Inc.	-5.48	54.57	-10.04%	9.50
Formidable Asset Management	0.00	50.44	0.00%	9.52
Alexis Investment Partners LLC	-6.70	46.12	-14.54%	1.55
Guinness Atkinson Asset Management	-1.73	43.70	-3.95%	-1.73
VectorShares LLC	0.00	43.67	0.00%	27.80
Alger Group Holdings LLC	4.59	42.22	10.87%	5.61
Red Gate Advisers LLC	1.76	40.89	4.30%	6.28
ETF Series Solutions	-2.47	40.80	-6.06%	0.72
2nd Vote Value Investments, Inc	0.00	39.33	0.00%	-1.73
Highland Capital Management	1.50	35.84	4.17%	-7.93
Premise Capital	-0.73	34.35	-2.13%	-1.27
Build Asset Management LLC	0.00	32.26	0.00%	34.02
Ridgeline Research LLC	0.00	32.26	0.00%	2.41
ASYMmetric ETFs	-0.81	32.14	-2.53%	10.97
Metaurus Advisors	0.02	30.39	0.05%	5.03
Sheaff Brock Capital Management LLC	0.00	30.06	0.00%	2.67
Advocate Capital Management LLC	-1.44	28.95	-4.96%	10.53
The Leuthold Group LLC	0.70	26.21	2.69%	10.39
Valkyrie Funds LLC	-0.21	25.94	-0.80%	-23.00
GAMCO Investors, Inc.	0.13	25.23	0.50%	3.82
Cultivar Capital, Inc.	0.00	24.41	0.00%	15.64
Convergence Investment Partners, LLC	-0.03	24.38	-0.12%	-1.19
Faith Investor Services, LLC	0.00	23.81	0.00%	25.71
Esoterica	-1.04	22.77	-4.56%	-8.11
AlphaMark Advisors	0.00	21.65	0.00%	0.00
First Pacific Advisors LP	0.51	20.56	2.50%	21.68
Knights of Columbus	0.00	20.01	0.00%	-0.80
Reflection Asset Management, LLC	0.00	18.80	0.02%	7.47
Mairs & Power, Inc.	0.00	18.03	0.00%	1.33
Point Bridge Capital	0.00	16.23	0.00%	2.93
MCCM Group LLC	-4.61	14.97	-30.81%	5.74
Zacks Investment Management	0.56	14.45	3.90%	3.61
Global Beta Advisors	2.54	13.46	18.88%	8.90
Applied Finance Group	0.00	12.38	0.00%	3.97
Changebridge Capital LLC	0.19	12.15	1.59%	-2.09
Alphatrai Funds, Inc.	4.57	11.43	39.93%	5.36
GCI Investors, Inc.	0.00	11.40	0.00%	7.40
Future Fund Advisors	0.00	10.22	0.00%	-2.00
WealthTrust Asset Management LLC	0.51	9.99	5.13%	9.57
Counterpoint Mutual Funds LLC	0.00	9.51	0.00%	0.00
Lifegoal Investments LLC	3.02	8.64	35.01%	5.41
Alternative Access Funds LLC	-2.43	7.31	-33.28%	-2.43
Digital Currency Group, Inc.	0.00	6.09	0.00%	12.54
Goose Hollow Capital Management LLC	2.87	5.82	49.35%	4.69
Nuveen Investments, Inc.	0.00	5.29	0.00%	0.00
Democracy Investment Management LLC	0.00	4.92	0.02%	2.39
Clockwise Capital LLC	0.47	4.74	10.00%	3.58
Kelly Strategic Management LLC	0.63	4.53	13.80%	5.08
Rcube SAS	0.00	4.53	0.00%	4.18
Lyrical Partners	0.00	4.52	0.00%	1.31
VegTech LLC	0.00	4.38	0.00%	3.35
V-Square Quantitative Management LLC	0.00	3.50	0.00%	2.47
Spear Advisors LLC	0.00	3.39	0.00%	0.30
Jacob Asset Management	0.00	3.31	0.00%	-0.14
Kingsbarn Capital Management LLC	0.00	2.91	0.00%	1.23
Dynamic Shares LLC	0.00	2.41	0.00%	1.00
Volt Equity LLC	0.00	2.26	0.00%	0.33
Grizzle Investment Management LLC	0.00	1.83	0.00%	1.10
Amberwave Partners Research & Management LLC	0.00	1.64	0.00%	1.28
Big Data Federation, Inc.	0.00	1.54	0.00%	0.62
Matthews International Capital Management	0.00	1.48	0.00%	0.00
Dalton Capital	0.00	1.26	0.00%	0.26
Subversive Capital Advisor LLC	0.00	0.98	0.00%	1.25
Inherent Wealth Fund LLC	0.00	0.92	0.00%	0.77
Tradelegs LLC	0.00	0.51	0.00%	0.50
Wilshire Phoenix Funds LLC	0.00	0.49	0.00%	-1.23
Chadds Ford Investment Management LLC	-43.01	0.42	-10,203.68%	-33.08
Neuberger Berman	0.00	0.00	0.00%	0.00
Eaton Vance Corp.	0.00	0.00	0.00%	0.00
Cabot ETF Partners LLC	0.00	0.00	0.00%	-0.29
Prudential	0.00	0.00	0.00%	916.62

 

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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