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Equities Lead As June Inflows Top $77B

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The ETF market missed the chance to breach the $500 billion inflow mark at the first half of the year, but appears well on the way after investors put $77 billion in the market in June.

The inflows last month are a 15% increase over May’s flows, and puts the industry on track to easily break the full-year record of $507.4 billion from 2020 in a matter of weeks. The first half of 2021 ended with $472.5 billion in assets for U.S.-based ETFs.

Let’s dig into the data.

Equities Just Keep Getting Bigger

U.S. equity funds added $37.7 billion in assets during the month, a 55% increase over May’s tally, while international equities gained $19.8 billion for a 13.7% gain month-over-month. The performance for American equities isn’t surprising considering the S&P 500 closed at record-highs 35 times in 2021 so far, while the tech-heavy Nasdaq Composite hit 18 records in the same period.

The Invesco QQQ Trust (QQQ) led the charge among all funds, with $6.16 billion in flows during the month as tech flourished, while the SPDR S&P 500 ETF Trust (SPY) was a distant second, at $4.9 billion.

On a year-to-date basis, U.S. equities have a net gain of $219.2 billion and just more than $3.8 trillion in assets under management, while international equities have gained $138 billion and stand at $1.3 trillion in total assets.

Inflation Fears Recede

As more Americans returned to something resembling a prepandemic normal, and other countries across the world started to emerge from COVID-19-generated lockdowns, some investors took positions in inflationary plays as a mismatch of demand and the Federal Reserve’s commitment at the time to keep rates near zero.

Those plays lost steam soon after multiple Fed governors suggested that rate hikes would begin as soon as next year after their FOMC meeting in June, implying that the central bank is keeping a closer eye on long-term inflation than it’s previously indicated.

The Vanguard Short-Term Bond ETF (BSV) and the SPDR Gold Trust (GLD) were among the top 10 gainers in May but fell off the list in June, while the iShares 1-3 Year Treasury Bond ETF (SHY) lost $845.1 million in the month.

At the same time, a $2.2 billion inflow into the iShares 20+ Year Treasury Bond ETF (TLT) and $2.6 billion into the iShares U.S. Real Estate ETF (IYR) suggest that investors aren’t too worried over longer-term inflation.

Commodities Slow Considerably

The commodities class showed a noticeable slowdown during the month despite posting net inflows of $460.2 million—well off the pace of the approximately $5.5 billion worth of inflows in May.

The asset class’ month is a tale of two extremes. Speculators drove the price of oil to almost $75 per barrel toward the end of the month as a wave of post-lockdown vacations piqued demand.

The United States Oil Fund LP (USO) had returns of 9.84% for the month, while the broader Energy Select Sector SPDR Fund (XLE) had a single-month of return of 2.91%.

However, precious metals retreated significantly as inflation fears eased. GLD, the iShares Gold Trust (IAU), the iShares Silver Trust (SLV) and the Aberdeen Standard Physical Precious Metals Basket Shares ETF (GLTR) all had negative returns of 7% or worse during the month.

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

 

Top Gainers (June 2021)

Ticker

Name

Issuer

Net Flows ($,mm)

AUM ($M)

% of AUM

YTD 2021 Net Flows($,M)

QQQ

Invesco QQQ Trust

Invesco

6,160.63

177,225.30

3.48%

5,618.69

SPY

SPDR S&P 500 ETF Trust

State Street Global Advisors

4,876.69

373,525.58

1.31%

-1,715.03

VTI

Vanguard Total Stock Market ETF

Vanguard

3,497.47

252,496.59

1.39%

20,160.46

BND

Vanguard Total Bond Market ETF

Vanguard

2,888.45

78,499.82

3.68%

12,129.04

IYR

iShares U.S. Real Estate ETF

Blackrock

2,571.05

7,482.11

34.36%

1,191.97

VOO

Vanguard S&P 500 ETF

Vanguard

2,444.10

232,337.16

1.05%

26,597.28

TLT

iShares 20+ Year Treasury Bond ETF

Blackrock

2,164.55

15,081.76

14.35%

-2,239.42

IVV

iShares Core S&P 500 ETF

Blackrock

1,597.28

286,606.20

0.56%

12,513.19

IEFA

iShares Core MSCI EAFE ETF

Blackrock

1,533.40

96,608.64

1.59%

5,366.33

EZU

iShares MSCI Eurozone ETF

Blackrock

1,519.28

8,160.74

18.62%

2,516.40

 

Top Gainers (Year-to-Date)

Ticker

Name

Issuer

Net Flows ($,mm)

AUM ($M)

% of AUM

June 2021 Net Flows($,M)

VOO

Vanguard S&P 500 ETF

Vanguard

26,597.28

232,337.16

11.45%

2,444.10

VTI

Vanguard Total Stock Market ETF

Vanguard

20,160.46

252,496.59

7.98%

3,497.47

IVV

iShares Core S&P 500 ETF

Blackrock

12,513.19

286,606.20

4.37%

1,597.28

BND

Vanguard Total Bond Market ETF

Vanguard

12,129.04

78,499.82

15.45%

2,888.45

VTV

Vanguard Value ETF

Vanguard

10,200.25

81,348.23

12.54%

1,256.04

IEMG

iShares Core MSCI Emerging Markets ETF

Blackrock

9,226.28

83,902.29

11.00%

969.08

XLF

Financial Select Sector SPDR Fund

State Street Global Advisors

8,875.03

40,617.37

21.85%

-2,294.53

IUSB

iShares Core Total USD Bond Market ETF

Blackrock

8,609.34

14,482.32

59.45%

489.32

ARKK

ARK Innovation ETF

ARK

7,641.93

25,527.18

29.94%

654.18

VWO

Vanguard FTSE Emerging Markets ETF

Vanguard

6,616.38

84,372.42

7.84%

848.31

 

Biggest Losers (June 2021)

Ticker

Name

Issuer

Net Flows ($,mm)

AUM ($M)

% of AUM

YTD 2021 Net Flows($,M)

XLF

Financial Select Sector SPDR Fund

State Street Global Advisors

-2,294.53

40,617.37

-5.65%

8,875.03

HYG

iShares iBoxx USD High Yield Corporate Bond ETF

Blackrock

-1,886.40

20,345.42

-9.27%

-5,609.88

TQQQ

ProShares UltraPro QQQ

ProShares

-1,777.52

12,476.94

-14.25%

-770.28

LQD

iShares iBoxx USD Investment Grade Corporate Bond ETF

Blackrock

-1,576.44

40,171.95

-3.92%

-13,437.84

XLI

Industrial Select Sector SPDR Fund

State Street Global Advisors

-1,165.31

19,167.92

-6.08%

514.26

JNK

SPDR Bloomberg Barclays High Yield Bond ETF

State Street Global Advisors

-1,067.96

9,774.46

-10.93%

-2,836.50

SOXL

Direxion Daily Semiconductor Bull 3X Shares

Direxion

-948.84

4,640.70

-20.45%

1,124.14

EWJ

iShares MSCI Japan ETF

Blackrock

-877.90

11,405.33

-7.70%

-2,245.27

SHY

iShares 1-3 Year Treasury Bond ETF

Blackrock

-845.12

19,509.33

-4.33%

-77.54

MDYV

SPDR S&P 400 Mid Cap Value ETF

State Street Global Advisors

-714.20

1,635.23

-43.68%

-190.57

 

Biggest Losers (Year-to-Date)

Ticker

Name

Issuer

Net Flows ($,mm)

AUM ($M)

% of AUM

June 2021 Net Flows($,M)

LQD

iShares iBoxx USD Investment Grade Corporate Bond ETF

Blackrock

-13,437.84

40,171.95

-33.45%

-1,576.44

USMV

iShares MSCI USA Min Vol Factor ETF

Blackrock

-8,095.89

27,615.34

-29.32%

-657.36

GLD

SPDR Gold Trust

State Street Global Advisors

-6,905.09

59,003.72

-11.70%

165.15

HYG

iShares iBoxx USD High Yield Corporate Bond ETF

Blackrock

-5,609.88

20,345.42

-27.57%

-1,886.40

SHV

iShares Short Treasury Bond ETF

Blackrock

-3,183.89

14,643.56

-21.74%

-226.50

IWF

iShares Russell 1000 Growth ETF

Blackrock

-3,151.32

69,315.14

-4.55%

-457.43

JNK

SPDR Bloomberg Barclays High Yield Bond ETF

State Street Global Advisors

-2,836.50

9,774.46

-29.02%

-1,067.96

QUAL

iShares MSCI USA Quality Factor ETF

Blackrock

-2,746.41

21,601.80

-12.71%

461.03

IVW

iShares S&P 500 Growth ETF

Blackrock

-2,382.46

34,233.27

-6.96%

-36.56

IHI

iShares U.S. Medical Devices ETF

Blackrock

-2,260.19

7,779.86

-29.05%

-407.89

 

Asset Classes (June 2021)

 

Net Flows ($, mm)

AUM ($, mm)

% of AUM

U.S. Equity

37,702.54

3,809,537.57

0.99%

International Equity

19,836.88

1,290,880.87

1.54%

U.S. Fixed Income

15,381.85

1,042,385.34

1.48%

International Fixed Income

3,567.11

142,642.77

2.50%

Commodities

460.19

139,890.88

0.33%

Currency

158.41

1,941.79

8.16%

Leveraged

-1,632.29

61,285.23

-2.66%

Inverse

894.64

11,730.93

7.63%

Asset Allocation

548.29

16,348.42

3.35%

Alternatives

76.41

6,417.57

1.19%

Total:

76,994.04

6,523,061.37

1.18%

 

Asset Classes (Year-to-Date)

 

Net Flows ($, mm)

AUM ($, mm)

% of AUM

U.S. Equity

219,260.97

3,809,537.57

5.76%

International Equity

138,072.43

1,290,880.87

10.70%

U.S. Fixed Income

84,750.62

1,042,385.34

8.13%

International Fixed Income

21,293.52

142,642.77

14.93%

Commodities

-511.90

139,890.88

-0.37%

Currency

55.50

1,941.79

2.86%

Leveraged

758.16

61,285.23

1.24%

Inverse

3,952.28

11,730.93

33.69%

Asset Allocation

2,069.17

16,348.42

12.66%

Alternatives

2,111.76

6,417.57

32.91%

Total:

471,812.51

6,523,061.37

7.23%

 

June 2021 ETF Issuer League Table

Issuer

Net Flows ($,M)

AUM ($,M)

% of AUM

YTD 2021 Net Flows($,M)

Blackrock

17,795.92

2,299,593.61

0.77%

94,250.23

Vanguard

27,604.65

1,843,092.90

1.50%

173,831.69

State Street Global Advisors

5,889.35

979,199.00

0.60%

39,718.74

Invesco

8,037.16

361,324.78

2.22%

31,383.93

Charles Schwab

3,201.08

245,244.91

1.31%

22,562.01

First Trust

2,535.16

135,573.39

1.87%

14,168.51

JPMorgan Chase

1,697.07

65,596.00

2.59%

16,835.11

VanEck

2,800.40

62,111.28

4.51%

7,554.38

ProShares

-465.94

57,447.73

-0.81%

4,421.32

ARK

1,121.15

50,421.73

2.22%

16,417.50

WisdomTree

296.50

45,128.07

0.66%

2,450.99

Mirae Asset Global Investments Co., Ltd.

1,229.99

34,706.08

3.54%

11,969.97

Dimensional Holdings

375.33

30,386.64

1.24%

1,364.31

Fidelity

432.79

29,772.20

1.45%

3,026.40

Allianz

-59.32

26,794.30

-0.22%

848.06

Direxion

-193.65

26,041.15

-0.74%

1,476.24

Goldman Sachs

470.12

23,869.35

1.97%

-344.92

Deutsche Bank

520.95

22,427.92

2.32%

878.40

Northern Trust

286.03

18,361.97

1.56%

2,440.49

CICC

880.45

11,098.61

7.93%

5,248.33

Franklin Templeton

-35.20

9,464.33

-0.37%

356.99

SS&C

-11.22

9,450.71

-0.12%

243.30

ETFMG

6.65

7,618.38

0.09%

1,401.00

Pacer Advisors

193.27

7,517.81

2.57%

993.91

American Century Investments

380.54

7,125.08

5.34%

2,640.22

Exchange Traded Concepts

190.04

7,085.72

2.68%

1,234.71

Standard Life Aberdeen

195.98

6,980.07

2.81%

704.00

Crestview

97.94

6,514.40

1.50%

207.24

Innovator

39.51

5,240.32

0.75%

903.67

Principal

116.95

5,213.85

2.24%

867.94

Manulife

35.24

4,979.05

0.71%

-681.20

Amplify Investments

113.48

4,664.40

2.43%

1,214.57

Concierge Technologies

-375.62

4,511.19

-8.33%

-2,108.90

New York Life

-55.79

4,377.86

-1.27%

306.33

Nuveen Securities

244.16

4,119.97

5.93%

1,107.46

Janus Henderson

-71.55

4,087.55

-1.75%

155.98

The Hartford

53.49

4,047.36

1.32%

145.17

US Global Investors

33.59

3,700.83

0.91%

499.16

BMO

34.17

3,244.70

1.05%

345.33

Barclays

62.19

3,063.52

2.03%

1,289.75

Toroso Investments

-70.13

2,274.35

-3.08%

639.56

AdvisorShares

-25.54

2,214.49

-1.15%

1,233.90

Prudential

122.21

1,762.44

6.93%

383.85

Ameriprise Financial

36.30

1,607.33

2.26%

324.60

O’Shares Investments

0.41

1,588.61

0.03%

10.96

Defiance ETFs

32.44

1,513.55

2.14%

376.54

Vident

-1.21

1,491.04

-0.08%

-22.49

GraniteShares

-49.10

1,450.30

-3.39%

140.20

Davis Advisers

17.40

1,334.74

1.30%

108.59

Aptus Capital Advisors

87.59

1,312.61

6.67%

273.75

UBS

-5.03

1,271.11

-0.40%

-49.53

Virtus Investment Partners

71.87

1,248.53

5.76%

249.15

Cambria

5.96

1,096.12

0.54%

207.89

Credit Suisse Group AG

89.53

1,023.26

8.75%

239.20

Inspire

34.91

1,000.06

3.49%

168.40

Main Management

20.28

980.36

2.07%

211.40

EMPIRICAL FINANCE LLC

7.32

959.91

0.76%

236.09

The Bank of New York Mellon Corp.

23.90

845.18

2.83%

282.14

Aegon

-1.15

802.74

-0.14%

-31.12

Nationwide

59.09

765.63

7.72%

230.45

Rational Capital LLC

115.61

738.98

15.64%

503.94

Renaissance Capital

38.04

674.16

5.64%

-91.10

The Motley Fool

2.86

667.47

0.43%

60.05

Horizon Kinetics LLC

87.30

628.15

13.90%

597.16

Roundhill Investments

-19.40

568.08

-3.41%

254.47

Tortoise

8.01

553.45

1.45%

43.08

Simplify Asset Management Inc.

129.19

518.38

24.92%

373.97

Timothy Plan

12.29

472.26

2.60%

29.55

Merk

6.96

463.99

1.50%

57.27

TrimTabs

-14.99

432.95

-3.46%

25.90

Redwood Investment Management

70.22

419.80

16.73%

-36.68

Howard Capital Management

14.48

404.26

3.58%

59.82

SRN Advisors

-6.36

392.84

-1.62%

70.94

Liquid Strategies

-1.39

381.56

-0.36%

66.51

Distillate Capital

13.74

378.91

3.63%

119.10

Sprott

0.00

362.92

0.00%

18.15

Al Marketing LLC

-5.96

354.40

-1.68%

-38.79

Teucrium

-41.77

347.52

-12.02%

-30.69

T. Rowe Price Group, Inc.

37.43

346.67

10.80%

149.84

Regents Park Funds

7.13

339.03

2.10%

64.36

ClearShares LLC

56.66

336.45

16.84%

86.24

WBI

0.00

294.14

0.00%

-0.55

Government of Sweden

-5.40

289.85

-1.86%

8.93

ProFund Advisors LLC

14.73

275.52

5.35%

252.50

Donald L. Hagan LLC

21.23

254.83

8.33%

90.72

Tuttle Tactical Management, LLC

-2.12

250.24

-0.85%

90.81

Mcivy Co. LLC

0.00

232.44

0.00%

116.87

Intangible Capital

-0.02

193.84

-0.01%

2.47

Syntax Advisors

26.64

190.45

13.99%

48.05

Capital Impact Advisors

-1.92

187.01

-1.03%

-4.53

Core Alternative Capital

5.98

184.60

3.24%

40.61

Little Harbor Advisors

14.21

171.88

8.27%

104.10

TrueMark Investments

12.37

147.98

8.36%

69.91

ProcureAM

0.71

135.25

0.52%

78.13

Arrow Funds

-3.16

135.11

-2.34%

3.22

Gadsden

0.71

117.82

0.60%

16.55

Wahed

3.65

116.52

3.13%

39.16

Emles Advisors LLC

68.97

111.95

61.61%

43.06

Kingsview Partners LLC

10.49

107.95

9.71%

100.58

AGF

1.69

106.87

1.58%

-15.92

Wainwright, Inc.

5.91

106.78

5.53%

90.25

CornerCap Investment Counsel, Inc.

1.52

103.05

1.47%

28.60

Advisors Asset Management

22.99

96.11

23.93%

46.63

Humankind USA LLC

13.71

85.08

16.11%

77.56

Exponential ETFs

0.00

78.62

0.00%

-0.08

iM Square SAS

4.29

75.72

5.67%

16.22

Change Finance

4.84

74.34

6.51%

33.35

Pettee Investors

3.00

74.29

4.03%

21.78

Groupe BPCE

2.52

67.10

3.76%

12.67

Impact Shares

6.35

66.91

9.49%

25.54

Metaurus Advisors

2.48

65.26

3.79%

5.93

Swan Global Investments

8.41

58.46

14.38%

54.57

Pacific Life

0.00

57.34

0.00%

-0.11

Beyond Investing

0.00

57.29

-0.01%

14.62

Guinness Atkinson Asset Management

0.00

54.60

0.00%

15.08

Neil Azous Revocable Trust

12.44

52.28

23.80%

30.09

Esoterica

0.00

52.26

0.00%

27.83

Absolute Investment Advisers LLC

2.07

49.64

4.17%

9.16

Infusive Asset Management

1.76

47.77

3.69%

8.53

Toews Corp.

0.77

43.89

1.76%

-5.61

Highland Capital Management

-0.01

43.58

-0.03%

-9.78

Premise Capital

0.00

40.38

0.00%

-13.27

Cabot ETF Partners LLC

0.00

38.33

0.00%

33.96

Alger Group Holdings LLC

0.76

38.28

1.98%

30.41

Rayliant Investment Research

18.53

35.92

51.60%

33.47

Red Gate Advisers LLC

0.39

34.99

1.11%

5.39

ETF Series Solutions

0.74

32.29

2.28%

4.58

Inverdale Capital Management LLC

2.70

30.61

8.81%

24.37

2nd Vote Value Investments, Inc

5.45

29.05

18.76%

22.18

AlphaMark Advisors

0.00

26.79

0.00%

-1.41

MCCM Group LLC

0.41

26.18

1.56%

34.51

Whitford Asset Management

0.00

23.58

0.00%

20.07

Truist

0.73

23.46

3.12%

0.83

Formidable Asset Management

5.17

23.34

22.14%

22.00

Uncommon Investment Advisors LLC

15.45

20.00

77.24%

19.20

Changebridge Capital LLC

1.10

17.84

6.15%

10.88

The Leuthold Group LLC

0.00

15.09

0.02%

1.43

GAMCO Investors, Inc.

0.00

13.74

0.00%

7.27

Ridgeline Research LLC

3.16

13.68

23.10%

9.93

Point Bridge Capital

0.92

12.60

7.31%

1.00

Mairs & Power, Inc.

1.52

12.60

12.07%

12.53

Counterpoint Mutual Funds LLC

0.60

12.14

4.96%

-0.60

EquBot

0.00

11.73

0.00%

4.82

Alternative Access Funds LLC

0.00

10.03

0.00%

0.00

Tuttle Capital Management LLC

3.85

7.81

49.28%

2.63

New Age Alpha Advisors LLC

-1.44

7.47

-19.33%

5.49

Water Island Capital Partners LP

0.00

6.55

0.01%

0.00

Global Beta Advisors

0.00

5.10

-0.02%

-2.99

Reflection Asset Management, LLC

0.70

4.12

16.93%

1.29

Applied Finance Group

0.00

3.83

0.00%

2.49

ASYMmetric ETFs

0.80

3.28

24.56%

3.10

Democracy Investment Management LLC

0.68

1.99

34.03%

1.32

Wilshire Phoenix Funds LLC

0.00

1.77

0.00%

0.00

WisdomTree Investments, Inc.

0.00

1.05

-0.01%

0.00

Cavalier16

0.00

0.00

0.00%

3.19

Eaton Vance Corp.

0.00

0.00

0.00%

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.

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