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ETF Inflows Running Well Ahead Of Last Year

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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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