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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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