ETFs Add $91B In March

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The U.S. ETF industry added a little more than $91 billion in net assets in March, marking a continued growth of inflows despite the Russian invasion of Ukraine and a Federal Reserve signaling its intent to attack inflation.

U.S.-listed ETFs have added $197.3 billion in assets year-to-date and have approximately $7.1 billion overall, according to ETF.com data provider FactSet.

Large Caps Recoup

A post-Fed hike surge in equities brought the Nasdaq-100 above the 10% correction level for 2022, and the Invesco QQQ Trust (QQQ) was rewarded with a nearly $6 billion net inflow to lead all ETFs in gains.

The jump in large cap equities also benefited the big three S&P 500 ETFs, with the SPDR S&P 500 ETF Trust (SPY), the Vanguard S&P 500 ETF (VOO) and the iShares Core S&P 500 ETF (IVV) adding a combined $13.1 billion on the month.

However, SPY remains well in the red on the year, with $15.5 billion in new outflows.

A Tale Of Two Bond Maturities

The Fed also began its long-awaited hiking cycle by adding a quarter-percent to its target funds range in March, triggering a reallocation in bond fund exposure amid a massive jump in yields. The iShares 20+ Year Treasury Bond ETF (TLT) was the second-largest gainer on the month, with just under $4.7 billion in new assets.

In another flight to relative safety, the SPDR Gold Trust (GLD) added $3.8 billion.

Short-maturity bond funds struggled as traders sought to clear out their holdings in anticipation of new issues of higher-yielding bonds. The Vanguard Short-Term Bond ETF (BSV) and the PIMCO Enhanced Short Maturity Active ETF (MINT) lost a combined $1.5 billion during the month.

The iShares iBoxx USD High Yield Corporate Bond ETF (HYG) suffered a $966.2 million outflow as investors fear broader economic head winds and rising interest rates, making safer Treasury bonds more appealing.

Sector, International Equity Struggles

Sector-specific ETFs dotted the top 10 outflows list for various reasons. The Energy Select Sector SPDR Fund (XLE) saw the largest outflow, with almost $2 billion in losses on the month, likely due to profit-taking after the Russian invasion of Ukraine sent oil markets surging.

The war opened the possibility early in the month of the Fed potentially reducing the size and speed of its hikes, which cost the iShares Global Financials ETF (IXG) $1.13 billion in outflows despite banks historically doing well in rising rate environments. The hike is also sending mortgage and borrowing rates higher, leading to a $1.2 billion outflow in the iShares U.S. Real Estate ETF (IYR).

Several international equity ETFs struggled, with the iShares MSCI EAFE Growth ETF (EFG) and the iShares MSCI EAFE Value ETF (EFV) losing a combined $2.2 billion on the month due to concerns over Europe’s reliance on Russian oil and gas.

The XTrackers Harvest CSI 300 China A-Shares ETF (ASHR) saw a $730 million outflow due to rumors of China potentially giving Russia aid to offset Western sanctions and a U.S. law that could potentially lead to all Chinese stocks on American exchanges being delisted in several years’ time.

For a full list of last month’s top inflows and outflows, see the tables below:

Top Gainers (March 2022)

Ticker

Name

Issuer

Net Flows ($,mm)

AUM ($M)

% of AUM

YTD 2022 Net Flows($,M)

QQQ

Invesco QQQ Trust

Invesco

5,998.05

199,556.51

3.01%

-260.42

TLT

iShares 20+ Year Treasury Bond ETF

Blackrock

4,696.58

19,922.46

23.57%

2,171.64

SPY

SPDR S&P 500 ETF Trust

State Street Global Advisors

4,690.69

423,589.35

1.11%

-15,560.40

VOO

Vanguard S&P 500 ETF

Vanguard

4,420.10

295,950.45

1.49%

24,941.72

IVV

iShares Core S&P 500 ETF

Blackrock

3,986.55

337,983.28

1.18%

14,083.78

GLD

SPDR Gold Trust

State Street Global Advisors

3,882.21

67,838.30

5.72%

7,091.71

VTI

Vanguard Total Stock Market ETF

Vanguard

3,334.39

295,254.59

1.13%

8,662.39

BND

Vanguard Total Bond Market ETF

Vanguard

3,109.99

83,226.04

3.74%

4,396.01

IEMG

iShares Core MSCI Emerging Markets ETF

Blackrock

1,955.09

74,103.01

2.64%

2,138.50

BBEU

JPMorgan BetaBuilders Europe ETF

JPMorgan Chase

1,822.28

11,412.18

15.97%

2,267.54

Top Gainers (Year-to-Date)

Ticker

Name

Issuer

Net Flows ($,mm)

AUM ($M)

% of AUM

March 2022 Net Flows($,M)

VOO

Vanguard S&P 500 ETF

Vanguard

24,941.72

295,950.45

8.43%

4,420.10

IVV

iShares Core S&P 500 ETF

Blackrock

14,083.78

337,983.28

4.17%

3,986.55

VTV

Vanguard Value ETF

Vanguard

9,385.24

104,157.77

9.01%

1,194.41

VTI

Vanguard Total Stock Market ETF

Vanguard

8,662.39

295,254.59

2.93%

3,334.39

GLD

SPDR Gold Trust

State Street Global Advisors

7,091.71

67,838.30

10.45%

3,882.21

TQQQ

ProShares UltraPro QQQ

ProShares

4,546.41

19,450.13

23.37%

-438.02

BND

Vanguard Total Bond Market ETF

Vanguard

4,396.01

83,226.04

5.28%

3,109.99

SHV

iShares Short Treasury Bond ETF

Blackrock

4,159.69

17,223.52

24.15%

1,506.82

SCHD

Schwab U.S. Dividend Equity ETF

Charles Schwab

4,008.24

34,890.08

11.49%

-396.11

VEA

Vanguard FTSE Developed Markets ETF

Vanguard

3,532.34

108,373.52

3.26%

572.85

Biggest Losers (March 2022)

Ticker

Name

Issuer

Net Flows ($,mm)

AUM ($M)

% of AUM

YTD 2022 Net Flows($,M)

XLE

Energy Select Sector SPDR Fund

State Street Global Advisors

-1,990.06

37,509.49

-5.31%

125.54

IYR

iShares U.S. Real Estate ETF

Blackrock

-1,244.07

5,431.04

-22.91%

-1,265.35

EFG

iShares MSCI EAFE Growth ETF

Blackrock

-1,238.62

9,750.34

-12.70%

-2,205.17

IXG

iShares Global Financials ETF

Blackrock

-1,128.58

1,186.26

-95.14%

-1,569.78

HYG

iShares iBoxx USD High Yield Corporate Bond ETF

Blackrock

-966.28

15,129.61

-6.39%

-5,244.51

EFV

iShares MSCI EAFE Value ETF

Blackrock

-959.90

15,864.57

-6.05%

439.98

BSV

Vanguard Short-Term Bond ETF

Vanguard

-855.29

37,278.30

-2.29%

-3,317.79

FTXR

First Trust Nasdaq Transportation ETF

First Trust

-767.65

292.85

-262.13%

-808.73

ASHR

Xtrackers Harvest CSI 300 China A-Shares ETF

DWS

-730.14

2,145.79

-34.03%

-196.42

MINT

PIMCO Enhanced Short Maturity Active ETF

PIMCO

-723.18

13,203.35

-5.48%

-284.44

Biggest Losers (Year-to-Date)

Ticker

Name

Issuer

Net Flows ($,mm)

AUM ($M)

% of AUM

March 2022 Net Flows($,M)

SPY

SPDR S&P 500 ETF Trust

State Street Global Advisors

-15,560.40

423,589.35

-3.67%

4,690.69

HYG

iShares iBoxx USD High Yield Corporate Bond ETF

Blackrock

-5,244.51

15,129.61

-34.66%

-966.28

BSV

Vanguard Short-Term Bond ETF

Vanguard

-3,317.79

37,278.30

-8.90%

-855.29

TIP

iShares TIPS Bond ETF

Blackrock

-2,860.72

34,610.23

-8.27%

267.05

VLUE

iShares MSCI USA Value Factor ETF

Blackrock

-2,536.25

13,152.82

-19.28%

197.95

EFG

iShares MSCI EAFE Growth ETF

Blackrock

-2,205.17

9,750.34

-22.62%

-1,238.62

LQD

iShares iBoxx USD Investment Grade Corporate Bond ETF

Blackrock

-2,070.41

33,633.27

-6.16%

-516.62

IWM

iShares Russell 2000 ETF

Blackrock

-1,855.11

62,773.44

-2.96%

-404.33

IXG

iShares Global Financials ETF

Blackrock

-1,569.78

1,186.26

-132.33%

-1,128.58

JNK

SPDR Bloomberg High Yield Bond ETF

State Street Global Advisors

-1,567.08

7,578.36

-20.68%

47.19

Asset Classes (March 2022)

Net Flows ($, mm)

AUM ($, mm)

% of AUM

U.S. Equity

49,083.24

4,326,184.65

1.13%

International Equity

10,585.38

1,288,057.92

0.82%

U.S. Fixed Income

17,797.02

1,070,224.88

1.66%

International Fixed Income

1,861.82

157,559.47

1.18%

Commodities

10,004.66

170,035.19

5.88%

Currency

226.99

3,605.11

6.30%

Leveraged

-793.77

70,554.20

-1.13%

Inverse

2,640.51

16,213.78

16.29%

Asset Allocation

-397.36

19,357.54

-2.05%

Alternatives

48.79

7,256.77

0.67%

Total:

91,057.28

7,129,049.51

1.28%

Asset Classes (Year-to-Date)

Net Flows ($, mm)

AUM ($, mm)

% of AUM

U.S. Equity

99,202.57

4,326,184.65

2.29%

International Equity

45,597.25

1,288,057.92

3.54%

U.S. Fixed Income

15,142.80

1,070,224.88

1.41%

International Fixed Income

7,193.51

157,559.47

4.57%

Commodities

18,839.06

170,035.19

11.08%

Currency

383.74

3,605.11

10.64%

Leveraged

6,120.51

70,554.20

8.67%

Inverse

4,589.37

16,213.78

28.31%

Asset Allocation

-0.11

19,357.54

0.00%

Alternatives

240.65

7,256.77

3.32%

Total:

197,309.35

7,129,049.51

2.77%

March 2022 ETF Issuer League Table

Issuer

Net Flows ($,M)

AUM ($,M)

% of AUM

YTD 2022 Net Flows($,M)

Blackrock

24,905.02

2,398,037.67

1.04%

32,433.38

Vanguard

20,627.71

2,071,047.89

1.00%

77,200.09

State Street Global Advisors

13,730.50

1,101,135.65

1.25%

12,173.59

Invesco

10,667.96

399,361.32

2.67%

11,323.54

Charles Schwab

2,002.53

271,501.57

0.74%

9,715.36

First Trust

2,519.03

148,320.90

1.70%

4,933.06

JPMorgan Chase

4,769.25

79,751.80

5.98%

8,718.10

ProShares

2,037.58

71,528.95

2.85%

7,635.00

VanEck

610.58

65,374.72

0.93%

3,517.45

WisdomTree

861.00

49,051.65

1.76%

2,238.22

Dimensional Holdings

1,350.64

48,131.60

2.81%

4,024.64

Mirae Asset Global Investments Co., Ltd.

1,168.82

44,146.72

2.65%

2,321.35

Fidelity

320.78

34,052.34

0.94%

947.16

Direxion

37.13

28,712.55

0.13%

3,513.56

Goldman Sachs

535.73

27,423.01

1.95%

1,381.46

PIMCO

-1,023.63

25,497.03

-4.01%

-624.17

ARK

317.06

23,037.77

1.38%

-274.78

Northern Trust

902.84

22,765.36

3.97%

1,533.40

DWS

-671.28

21,592.26

-3.11%

-1,187.27

Pacer Advisors

1,116.22

12,744.64

8.76%

2,971.36

American Century Investments

634.77

11,648.09

5.45%

2,004.65

CICC

-193.33

11,579.22

-1.67%

795.94

SS&C

118.65

10,091.71

1.18%

539.36

Franklin Templeton

84.81

9,706.59

0.87%

155.69

Nuveen Securities

189.03

8,557.08

2.21%

582.21

Abrdn Plc

686.84

8,134.42

8.44%

935.32

Victory Capital

211.06

7,868.85

2.68%

570.56

Exchange Traded Concepts

207.22

7,670.74

2.70%

389.55

Innovator

305.94

6,877.51

4.45%

1,001.98

ETFMG

70.97

5,961.73

1.19%

11.40

John Hancock

84.13

5,488.50

1.53%

182.14

Janus Henderson

106.44

5,273.35

2.02%

942.33

US Commodity Funds

223.67

5,032.77

4.44%

-139.26

New York Life

-71.92

4,268.49

-1.68%

-248.70

The Hartford

-0.80

4,260.68

-0.02%

163.86

Amplify Investments

113.42

4,135.80

2.74%

139.89

Principal

-2.92

4,083.61

-0.07%

-662.21

BMO

123.19

4,046.47

3.04%

377.96

US Global Investors

-312.88

3,585.10

-8.73%

228.47

Barclays Capital Inc.

-361.56

3,525.59

-10.26%

-390.29

Toroso Investments

10.24

3,210.11

0.32%

281.67

Prudential

651.48

2,807.70

23.20%

684.07

AdvisorShares

-16.22

2,164.23

-0.75%

101.80

Aptus Capital Advisors

77.98

2,066.82

3.77%

215.43

Strategy Shares

-6.33

1,689.96

-0.37%

236.63

GraniteShares

88.91

1,678.98

5.30%

156.10

Columbia Management Investment Advisers, LLC

-61.16

1,615.42

-3.79%

-77.95

The Motley Fool

-14.70

1,519.11

-0.97%

-23.95

Vident

5.59

1,476.67

0.38%

35.97

UBS

4.71

1,475.47

0.32%

4.71

Defiance ETFs

-34.64

1,464.77

-2.36%

-87.05

Cambria

27.93

1,431.51

1.95%

299.04

O’Shares Investments

21.10

1,392.22

1.52%

25.40

BNY Mellon

30.77

1,384.39

2.22%

154.91

Horizon Kinetics LLC

342.11

1,330.81

25.71%

379.39

Simplify Asset Management Inc.

86.52

1,328.23

6.51%

287.18

Nationwide

-8.33

1,281.28

-0.65%

82.35

Alpha Architect

108.91

1,239.32

8.79%

160.54

Main Management

13.30

1,132.14

1.17%

18.41

Inspire

30.36

1,127.85

2.69%

65.53

Davis Advisers

5.11

1,071.39

0.48%

-113.17

Roundhill Investments

-42.50

1,053.69

-4.03%

-7.27

Teucrium

446.95

838.59

53.30%

507.84

Distillate Capital

37.45

737.90

5.08%

140.86

Howard Capital Management

8.86

694.63

1.28%

36.19

Merk

38.00

668.60

5.68%

43.44

T. Rowe Price Group, Inc.

43.70

659.48

6.63%

88.34

Redwood Investment Management

96.53

654.31

14.75%

-74.21

Tortoise

5.93

622.15

0.95%

26.70

Credit Suisse Group AG

-7.39

621.03

-1.19%

51.98

The Capital Group Companies

336.67

610.32

55.16%

585.50

Timothy Plan

8.07

603.81

1.34%

62.89

Liquid Strategies

37.09

565.50

6.56%

102.57

TrimTabs

-1.62

499.03

-0.33%

2.87

Day Hagan Asset Management

45.70

492.83

9.27%

100.21

ClearShares LLC

-23.48

462.29

-5.08%

74.76

Cavalier16

-1.43

457.48

-0.31%

29.26

Swedish Export Credit

47.87

433.34

11.05%

72.70

Sprott, Inc.

12.33

432.68

2.85%

16.47

Engine No. 1 LLC

27.36

430.48

6.36%

149.61

Tuttle Tactical Management, LLC

21.18

426.43

4.97%

219.62

Regents Park Funds

0.83

394.80

0.21%

30.12

Little Harbor Advisors

11.50

354.09

3.25%

1.18

Core Alternative Capital

7.53

293.64

2.56%

39.83

SRN Advisors

-13.00

291.09

-4.47%

-36.53

Advisors Asset Management

24.96

287.87

8.67%

84.33

Al Marketing LLC

-6.75

280.09

-2.41%

-15.58

WBI

-4.78

277.09

-1.72%

-10.67

Renaissance Capital

-25.24

253.41

-9.96%

-69.52

Wahed Invest LLC

1.04

206.84

0.50%

33.50

TrueMark Investments

-5.48

206.23

-2.66%

6.99

Swan Global Investments

2.05

188.00

1.09%

33.18

Syntax Advisors

-2.69

187.73

-1.43%

-11.05

AXS Investments

17.07

182.60

9.35%

69.81

Impact Shares

-0.64

181.77

-0.35%

5.34

Intangible Capital

0.02

180.23

0.01%

0.02

Truist

1.33

169.38

0.79%

9.34

Wainwright, Inc.

1.90

168.18

1.13%

12.46

AGF

0.07

141.55

0.05%

22.16

Gadsden

1.65

132.71

1.25%

8.32

Kingsview Partners LLC

2.79

132.64

2.10%

16.67

Litman Gregory Capital Partners LLC

48.04

127.92

37.55%

48.04

CornerCap Investment Counsel, Inc.

5.14

127.19

4.04%

15.02

Arrow Funds

-5.74

125.33

-4.58%

-4.42

Humankind USA LLC

2.86

118.44

2.41%

7.17

Rayliant Investment Research

-1.86

111.96

-1.66%

61.52

OBP Capital LLC

0.09

107.51

0.09%

12.20

ProcureAM

0.00

97.59

0.00%

-6.92

Neil Azous Revocable Trust

1.24

89.16

1.39%

14.29

Pettee Investors

-1.91

84.39

-2.26%

-7.31

GeaSphere LLC

2.34

83.95

2.79%

4.67

Water Island Capital Partners LP

0.70

82.17

0.86%

58.82

Harbor

8.33

81.36

10.24%

15.41

Exponential ETFs

0.00

80.84

0.00%

0.03

Transamerica Funds

-576.14

79.15

-727.96%

-680.66

Emles Advisors LLC

-1.08

75.31

-1.43%

2.53

Beyond Investing

0.00

74.95

0.00%

4.11

Natixis

-4.28

70.07

-6.11%

-0.87

EntrepreneurShares, LLC

-19.58

67.96

-28.81%

-19.26

Toews Corp.

-8.50

67.52

-12.59%

13.42

Absolute Investment Advisers LLC

5.11

64.82

7.88%

5.83

Inverdale Capital Management LLC

6.14

62.06

9.90%

17.95

Pacific Life

2.90

59.92

4.84%

26.37

Oneascent Holdings LLC

-1.15

58.05

-1.98%

2.30

Valkyrie Funds LLC

1.68

57.78

2.90%

-17.08

Alexis Investment Partners LLC

0.49

54.47

0.89%

4.87

Cohanzick Management

4.09

54.09

7.56%

11.05

ORIX Corp.

16.84

53.20

31.66%

42.27

Federated Hermes, Inc.

0.00

52.71

0.00%

4.72

Retireful LLC

4.58

51.17

8.96%

47.83

Power Corporation of Canada

2.09

51.05

4.09%

7.51

Guinness Atkinson Asset Management

0.00

50.07

0.00%

0.00

Chadds Ford Investment Management LLC

0.00

47.92

0.00%

9.93

VectorShares LLC

-0.79

47.02

-1.68%

29.45

ETF Series Solutions

-0.15

46.09

-0.32%

1.33

Formidable Asset Management

1.76

45.69

3.85%

1.80

2nd Vote Value Investments, Inc

0.00

44.39

0.00%

-0.85

Alger Group Holdings LLC

-3.34

40.69

-8.20%

-4.90

Highland Capital Management

-4.72

40.64

-11.61%

-4.79

Premise Capital

1.72

39.46

4.35%

1.72

Red Gate Advisers LLC

0.51

39.27

1.29%

2.34

New Age Alpha Advisors LLC

-0.03

36.61

-0.09%

1.55

Uncommon Investment Advisors LLC

0.00

35.77

0.00%

3.32

Ridgeline Research LLC

0.00

35.17

0.00%

1.65

ASYMmetric ETFs

7.64

33.21

22.99%

10.27

Esoterica

-2.39

32.99

-7.24%

-5.15

Metaurus Advisors

1.74

32.68

5.32%

2.67

Sheaff Brock Capital Management LLC

0.64

31.39

2.04%

0.64

RBS Securities

12.05

29.71

40.55%

27.50

Infusive Asset Management

-6.71

29.14

-23.02%

-6.71

Build Asset Management LLC

0.62

27.55

2.25%

27.99

Convergence Investment Partners, LLC

-2.03

26.99

-7.51%

-0.33

Cultivar Capital, Inc.

1.30

26.13

4.98%

15.64

AlphaMark Advisors

0.00

24.68

0.00%

0.00

GAMCO Investors, Inc.

2.60

22.43

11.60%

3.56

Knights of Columbus

-1.64

21.97

-7.49%

-1.64

The Leuthold Group LLC

0.78

20.86

3.74%

3.88

Advocate Capital Management LLC

-0.55

20.78

-2.63%

1.88

Reflection Asset Management, LLC

0.62

19.15

3.21%

6.22

Virtus Investment Partners

12.12

18.64

64.99%

-20.55

Baird Financial Group

9.92

18.23

54.40%

17.48

Mairs & Power, Inc.

0.00

17.89

0.00%

0.96

First Pacific Advisors LP

4.77

17.23

27.68%

16.22

Digital Currency Group, Inc.

1.36

16.57

8.22%

14.95

Point Bridge Capital

1.03

15.53

6.61%

1.03

MCCM Group LLC

-1.56

14.94

-10.45%

4.09

Changebridge Capital LLC

-0.45

14.27

-3.16%

-1.15

Future Fund Advisors

-0.06

13.12

-0.46%

-1.34

Zacks Investment Management

0.00

12.38

0.00%

0.64

Applied Finance Group

0.67

12.31

5.41%

2.75

GCI Investors, Inc.

0.71

10.54

6.74%

5.37

Alternative Access Funds LLC

0.00

9.93

0.00%

0.00

Global Beta Advisors

3.66

9.64

38.03%

4.23

Counterpoint Mutual Funds LLC

0.00

9.58

0.00%

0.00

EquBot

0.00

7.71

0.00%

-3.11

Whitford Asset Management

0.00

7.66

0.00%

0.00

Spear Advisors LLC

0.48

5.62

8.57%

1.00

WealthTrust Asset Management LLC

1.16

5.48

21.17%

4.29

Lifegoal Investments LLC

0.95

5.25

18.17%

1.68

Jacob Asset Management

0.00

5.12

0.00%

-0.14

Democracy Investment Management LLC

0.62

4.40

14.05%

1.24

VegTech LLC

0.92

4.37

20.98%

2.58

Kelly Strategic Management LLC

0.00

4.27

0.00%

4.45

Volt Equity LLC

0.00

4.21

0.00%

0.33

Clockwise Capital LLC

0.00

4.01

0.00%

1.34

Truemark Group

0.01

3.69

0.32%

3.71

Banhazl

0.00

3.65

0.00%

0.00

Kingsbarn Capital Management LLC

1.75

3.52

49.74%

1.75

Lyrical Partners

0.00

3.47

0.00%

0.00

Goose Hollow Capital Management LLC

0.00

2.53

0.00%

1.24

Dinerbao SL

0.00

1.74

0.00%

1.21

Dalton Capital

0.00

1.46

0.00%

0.26

Amberwave Partners Research & Management LLC

0.45

1.38

32.32%

0.88

WisdomTree Investments, Inc.

0.00

1.35

0.00%

0.00

V-Square Quantitative Management LLC

0.00

1.24

0.00%

0.00

Big Data Federation, Inc.

-0.53

1.19

-44.26%

0.05

Grizzle Investment Management LLC

0.00

1.03

0.00%

0.22

Wilshire Phoenix Funds LLC

0.00

0.54

0.00%

-1.23

Inherent Wealth Fund LLC

0.00

0.45

0.00%

0.24

Eaton Vance Corp.

0.00

0.00

0.00%

0.00

Cabot ETF Partners LLC

0.00

0.00

0.00%

-0.29

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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