ETFs Eke Out Inflow In March Despite Market Collapse

ETFs Eke Out Inflow In March Despite Market Collapse

For most investors, March couldn't have come to a close soon enough. The S&P 500 dropped 12.5% during the month, its worst monthly performance since 2008. For Q1 as a whole, the index fell by 20%, its worst quarterly showing since 2008.

Yet, none of that carnage showed up in ETF flows. For a month as bad as March, you would expect to see tens of billions of dollars worth of outflows from exchange-traded funds, but in reality, U.S.-listed ETFs managed to eke out a net inflow of $176 million.

That left year-to-date inflows at the end of the quarter at $71.9 billion, ahead of the $47.8 billion seen at the end of last year's first quarter. That's even though stocks performed much better last year, with the S&P 500 up 13.1% from January through March. 

Opportunistic Purchases 

It's surprising, yet reassuring that ETFs haven't seen a barrage of outflows this year. That means that most ETF investors aren't panicking; they're sticking to their long-term investment plans and in some cases, buying opportunistically. The Vanguard S&P 500 ETF (VOO) and the Vanguard Total Stock Market ETF (VTI) are two ETFs that benefited from those opportunistic purchases; each had inflows of billions of dollars during March. 

Indeed, even though the headline flows figure for March was rather inconspicuous, below the surface there were quite a few big moves taking place.

In addition to VOO and VTI, the SPDR Bloomberg Barclays 1-3 Month T-Bill ETF (BIL) also saw strong interest. It nearly doubled its assets after gathering $8.9 billion of fresh inflows. The demand for BIL came as investors flocked to cashlike instruments with maximum liquidity. 

The iShares 1-3 Year Treasury Bond ETF (SHY) was another high-quality, short-duration bond fund that saw big inflows; $5.9 billion in the case of SHY.

At the same time, the iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD) collected $7.2 billion of new cash thanks to the Federal Reserve's surprise announcement in March that it would be purchasing investment-grade corporate bond ETFs to stabilize corporate credit markets.

The iShares iBoxx USD High Yield Corporate Bond ETF (HYG) wouldn't be a target in that program, but it too got a boost from the announcement, rebounding from 11-year lows. Investors added $2.9 billion to the fund during March. 

Sources Of Liquidity 

Meanwhile, on the outflows list, a few names that you wouldn't expect to see made an appearance. The iShares Core U.S. Aggregate Bond ETF (AGG) and the iShares 20+ Year Treasury Bond ETF (TLT) had outflows of $7.2 billion and $4.1 billion, respectively, during March. Both ETFs have rallied this year, strongly outperforming other funds, so conceivably, investors may have used them as a source of liquidity.

On the other hand, the performance of the PIMCO Enhanced Short Maturity ETF (MINT) was highly disappointing in March. The fund ended the month down 2.9%, the largest decline ever in the fund's 10-year history, spooking investors into pulling $2.5 billion from the fund. Debt markets were rocked midmonth as investors shunned everything but the highest-quality, most liquid Treasuries. 

Other ETFs to see heavy outflows during March included the iShares MSCI Emerging Markets ETF (EEM), the iShares MBS ETF (MBB) and the iShares MSCI EAFE ETF (EFA).

For a full list of the top inflows and outflows for March, see the tables below:

 

Top Gainers (March 2020)

Ticker	Name	Issuer	Net Flows ($,mm)	AUM ($M)	% of AUM	YTD 2020 Net Flows($,M)
BIL	SPDR Bloomberg Barclays 1-3 Month T-Bill ETF	State Street Global Advisors	8,943.00	18,079.27	49.47%	9,222.18
VOO	Vanguard S&P 500 ETF	Vanguard	8,157.15	122,249.72	6.67%	18,368.32
SPY	SPDR S&P 500 ETF Trust	State Street Global Advisors	8,129.75	240,782.75	3.38%	-13,349.37
LQD	iShares iBoxx USD Investment Grade Corporate Bond ETF	Blackrock	7,248.86	39,574.66	18.32%	5,182.02
SHY	iShares 1-3 Year Treasury Bond ETF	Blackrock	5,864.06	23,262.41	25.21%	5,100.30
QQQ	Invesco QQQ Trust	Invesco	4,777.15	84,274.04	5.67%	4,979.56
VTI	Vanguard Total Stock Market ETF	Vanguard	3,357.37	117,873.76	2.85%	8,727.73
HYG	iShares iBoxx USD High Yield Corporate Bond ETF	Blackrock	2,949.51	15,260.31	19.33%	-1,820.38
SHV	iShares Short Treasury Bond ETF	Blackrock	2,816.39	23,454.14	12.01%	2,572.04
USO	United States Oil Fund LP	US Commodity Funds	2,177.29	2,303.42	94.52%	2,768.91

 

Top Gainers (Year-to-Date)

Ticker	Name	Issuer	Net Flows ($,mm)	AUM ($M)	% of AUM	March 2020 Net Flows($,M)
VOO	Vanguard S&P 500 ETF	Vanguard	18,368.32	122,249.72	15.03%	8,157.15
BIL	SPDR Bloomberg Barclays 1-3 Month T-Bill ETF	State Street Global Advisors	9,222.18	18,079.27	51.01%	8,943.00
VTI	Vanguard Total Stock Market ETF	Vanguard	8,727.73	117,873.76	7.40%	3,357.37
LQD	iShares iBoxx USD Investment Grade Corporate Bond ETF	Blackrock	5,182.02	39,574.66	13.09%	7,248.86
SHY	iShares 1-3 Year Treasury Bond ETF	Blackrock	5,100.30	23,262.41	21.93%	5,864.06
QQQ	Invesco QQQ Trust	Invesco	4,979.56	84,274.04	5.91%	4,777.15
IVV	iShares Core S&P 500 ETF	Blackrock	4,021.69	164,925.42	2.44%	-4,846.39
IEFA	iShares Core MSCI EAFE ETF	Blackrock	3,757.24	59,576.25	6.31%	393.11
GLD	SPDR Gold Trust	State Street Global Advisors	3,706.42	50,130.79	7.39%	1,604.88
ESGU	iShares ESG MSCI U.S.A. ETF	Blackrock	2,795.46	3,559.18	78.54%	487.37

 

Biggest Losers (March 2020)

Ticker	Name	Issuer	Net Flows ($,mm)	AUM ($M)	% of AUM	YTD 2020 Net Flows($,M)
AGG	iShares Core U.S. Aggregate Bond ETF	Blackrock	-7,229.89	68,404.88	-10.57%	-2,686.22
IVV	iShares Core S&P 500 ETF	Blackrock	-4,846.39	164,925.42	-2.94%	4,021.69
TLT	iShares 20+ Year Treasury Bond ETF	Blackrock	-4,101.34	18,374.75	-22.32%	-2,881.22
BND	Vanguard Total Bond Market ETF	Vanguard	-3,701.84	50,025.14	-7.40%	311.64
MINT	PIMCO Enhanced Short Maturity Active ETF	Allianz	-2,494.99	11,924.98	-20.92%	-1,426.27
EEM	iShares MSCI Emerging Markets ETF	Blackrock	-2,364.48	18,959.29	-12.47%	-3,973.35
MBB	iShares MBS ETF	Blackrock	-2,278.81	21,770.67	-10.47%	107.72
JPST	JPMorgan Ultra-Short Income ETF	JPMorgan Chase	-1,894.33	9,377.59	-20.20%	-670.03
EMB	iShares JP Morgan USD Emerging Markets Bond ETF	Blackrock	-1,805.80	11,725.68	-15.40%	-1,699.78
EFA	iShares MSCI EAFE ETF	Blackrock	-1,643.29	48,114.86	-3.42%	-1,643.29

 

Biggest Losers (Year-to-Date)

Ticker	Name	Issuer	Net Flows ($,mm)	AUM ($M)	% of AUM	March 2020 Net Flows($,M)
SPY	SPDR S&P 500 ETF Trust	State Street Global Advisors	-13,349.37	240,782.75	-5.54%	8,129.75
EEM	iShares MSCI Emerging Markets ETF	Blackrock	-3,973.35	18,959.29	-20.96%	-2,364.48
EWJ	iShares MSCI Japan ETF	Blackrock	-3,201.22	9,080.33	-35.25%	-1,331.62
TLT	iShares 20+ Year Treasury Bond ETF	Blackrock	-2,881.22	18,374.75	-15.68%	-4,101.34
AGG	iShares Core U.S. Aggregate Bond ETF	Blackrock	-2,686.22	68,404.88	-3.93%	-7,229.89
XLF	Financial Select Sector SPDR Fund	State Street Global Advisors	-2,393.04	15,365.92	-15.57%	-1,391.09
VCSH	Vanguard Short-Term Corporate Bond ETF	Vanguard	-2,367.76	22,541.96	-10.50%	-1,626.49
JNK	SPDR Bloomberg Barclays High Yield Bond ETF	State Street Global Advisors	-2,138.52	8,350.07	-25.61%	1,525.01
BIV	Vanguard Intermediate-Term Bond ETF	Vanguard	-2,051.06	11,712.94	-17.51%	-971.06
IJH	iShares Core S&P Mid-Cap ETF	Blackrock	-1,919.49	36,104.93	-5.32%	-1,326.93

 

Asset Classes (March 2020)

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	21,483.47	2,027,728.63	1.06%
International Equity	-11,994.77	674,964.17	-1.78%
U.S. Fixed Income	-15,763.76	766,912.29	-2.06%
International Fixed Income	-5,941.44	81,857.78	-7.26%
Commodities ETFs	4,893.75	90,209.48	5.42%
Currency	708.15	2,102.82	33.68%
Leveraged	5,426.27	27,390.45	19.81%
Inverse	3,140.25	16,183.80	19.40%
Asset Allocation	-290.31	8,374.60	-3.47%
Alternatives	-1,485.57	4,403.65	-33.73%
Total:	176.05	3,700,127.68	0.00%

 

Asset Classes (Year-to-Date)

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	40,383.71	2,027,728.63	1.99%
International Equity	556.21	674,964.17	0.08%
U.S. Fixed Income	13,094.63	766,912.29	1.71%
International Fixed Income	-1,441.51	81,857.78	-1.76%
Commodities ETFs	9,564.61	90,209.48	10.60%
Currency	788.04	2,102.82	37.48%
Leveraged	6,884.87	27,390.45	25.14%
Inverse	3,864.80	16,183.80	23.88%
Asset Allocation	-134.53	8,374.60	-1.61%
Alternatives	-1,698.55	4,403.65	-38.57%
Total:	71,862.27	3,700,127.68	1.94%

 

March 2020 ETF Brand League Table

Brand	Net Flows ($,M)	AUM ($,M)	% of AUM	YTD 2020 Net Flows($,M)
iShares	-13,847.18	1,428,591.12	-0.97%	10,592.98
Vanguard	4,236.57	986,555.80	0.43%	47,804.74
SPDR	17,980.56	596,786.70	3.01%	1,442.54
Invesco	-3,585.21	184,430.41	-1.94%	-3,227.27
Schwab	1,344.57	137,531.90	0.98%	5,763.43
First Trust	-3,591.75	70,140.43	-5.12%	-384.75
VanEck	-1,354.31	34,112.53	-3.97%	-737.26
ProShares	5,122.73	32,166.13	15.93%	6,457.94
WisdomTree	-1,358.38	28,966.36	-4.69%	-1,244.85
JPMorgan	-3,801.03	23,703.91	-16.04%	-2,593.75
PIMCO	-3,115.64	19,439.60	-16.03%	-1,677.92
Goldman Sachs	-244.65	15,041.22	-1.63%	841.11
Fidelity	-495.43	13,925.36	-3.56%	576.36
Xtrackers	-521.34	12,703.48	-4.10%	-908.41
FlexShares	-1,164.12	11,351.33	-10.26%	-1,300.53
Direxion	4,036.82	9,816.29	41.12%	4,821.87
Global X	-285.62	8,484.78	-3.37%	254.28
Pacer	7.66	5,046.00	0.15%	456.17
LibertyShares	-4.41	4,165.42	-0.11%	556.12
VictoryShares	-158.15	4,165.40	-3.80%	-99.44
VelocityShares	-1,071.46	3,672.69	-29.17%	-1,213.56
John Hancock	39.88	3,612.52	1.10%	128.66
ARK	257.88	3,306.37	7.80%	518.81
Hartford	-308.78	3,253.75	-9.49%	-136.82
KraneShares	42.51	3,005.10	1.41%	656.05
US Commodity Funds	2,227.71	2,969.08	75.03%	2,931.62
Alerian	-35.66	2,880.76	-1.24%	-307.09
Aberdeen	-35.48	2,838.96	-1.25%	214.88
Invesco DB	637.35	2,768.84	23.02%	611.76
IndexIQ	-183.57	2,763.56	-6.64%	-215.58
Principal	-31.93	2,741.15	-1.16%	70.79
Innovator	505.25	2,701.04	18.71%	780.76
ETF Managers Group	-172.34	2,518.71	-6.84%	-152.79
UBS	-0.16	2,135.96	-0.01%	49.23
Janus Henderson	73.90	1,842.64	4.01%	469.41
ALPS	-176.30	1,778.66	-9.91%	-202.02
iPath	-1,074.72	1,730.41	-62.11%	-1,513.53
Credit Suisse	-0.10	1,443.81	-0.01%	-2.17
Vident	-14.87	1,285.10	-1.16%	2.54
Legg Mason	10.38	1,238.86	0.84%	42.74
Nuveen	238.40	1,208.03	19.73%	436.06
PGIM	-145.02	991.42	-14.63%	148.88
Barclays	26.60	957.57	2.78%	28.90
ROBO Global	-50.24	932.92	-5.38%	-108.17
GraniteShares	37.15	844.86	4.40%	138.07
REX Microsectors	0.00	729.96	0.00%	-1.21
Avantis	347.85	723.63	48.07%	393.06
DeltaShares	5.43	701.34	0.77%	-8.77
Amplify	-11.11	674.76	-1.65%	27.90
AdvisorShares	-51.81	655.13	-7.91%	-0.42
ETRACS	14.57	646.16	2.25%	-47.79
O’Shares	-15.36	612.54	-2.51%	0.54
Davis	7.21	602.63	1.20%	41.78
Columbia	-49.67	569.83	-8.72%	3.36
Cambria	-6.75	519.59	-1.30%	-15.36
American Century	-2.48	474.93	-0.52%	22.77
RiverFront	-28.11	465.83	-6.03%	-44.84
Aptus	49.96	456.85	10.94%	78.79
Main Funds	-17.71	436.90	-4.05%	2.40
Aware	14.76	420.05	3.51%	95.58
WBI Shares	-4.16	387.54	-1.07%	-26.07
EMQQ	-1.67	383.92	-0.43%	39.59
Inspire	-1.74	377.05	-0.46%	4.04
FormulaFolios	-23.41	369.68	-6.33%	-9.12
US Global	318.81	345.54	92.26%	323.81
Virtus	-115.38	341.82	-33.75%	-143.89
Nationwide	-18.93	309.98	-6.11%	-16.53
Alpha Architect	-18.29	294.47	-6.21%	-13.48
RPAR	92.54	270.50	34.21%	253.47
Tortoise	-33.39	261.47	-12.77%	-56.92
Motley Fool	-8.60	259.32	-3.32%	16.10
Timothy	6.34	251.93	2.52%	71.17
Defiance	7.09	251.69	2.82%	114.19
Perth Mint	18.34	223.48	8.21%	36.58
Overlay Shares	10.12	201.21	5.03%	109.29
ClearShares	0.00	200.46	0.00%	12.81
Sprott	-7.36	190.53	-3.86%	-8.19
Deutsche X-trackers	-11.91	149.82	-7.95%	-12.07
ELEMENTS	-19.94	148.21	-13.45%	-51.86
HCM	12.39	139.72	8.87%	46.12
Teucrium	-9.72	137.86	-7.05%	-16.51
Reality Shares	3.42	129.57	2.64%	-2.93
AGFiQ	-92.33	128.73	-71.72%	-20.62
C-Tracks	0.00	126.44	0.00%	0.00
Core Alternative	-1.30	121.95	-1.07%	6.97
Knowledge Leaders Capital	0.00	117.99	0.00%	0.00
Eve Capital	-1.66	103.22	-1.61%	-1.66
Anfield	25.30	102.12	24.78%	31.78
InfraCap	-6.06	101.90	-5.95%	4.30
TrimTabs	-7.80	100.44	-7.77%	-10.86
Quadratic	7.13	99.68	7.15%	15.95
ArrowShares	-0.66	97.58	-0.68%	-9.74
Highland	8.24	96.09	8.57%	-166.11
ERShares	19.37	93.47	20.73%	19.37
Pacific Global ETF	0.00	92.26	0.00%	1.27
SoFi	1.01	83.03	1.22%	10.58
BlueStar	-1.85	81.11	-2.28%	9.76
Exponential ETFs	-0.63	72.45	-0.86%	3.85
BlackRock	8.83	68.57	12.88%	17.47
Distillate	7.05	65.91	10.70%	19.41
Etho Capital	3.38	65.33	5.18%	7.96
LeaderShares	4.54	61.53	7.38%	-17.00
Franklin	0.00	57.64	0.00%	45.69
Fieldstone	0.00	49.92	0.00%	0.00
Strategy Shares	-40.47	49.68	-81.46%	-38.59
Premise Capital	7.84	49.43	15.85%	15.13
Gadsden	1.90	48.72	3.90%	3.82
Natixis	2.09	45.56	4.58%	2.09
Cboe Vest	2.73	45.48	6.00%	6.01
Loncar	-2.80	42.97	-6.53%	-0.50
Saba	1.83	40.58	4.52%	6.02
Opus Capital Management	0.32	39.90	0.80%	4.35
Metaurus	0.00	39.76	0.01%	0.01
Day Hagan	5.87	38.12	15.40%	40.72
Vesper	-4.83	37.38	-12.93%	1.86
SP Funds	9.99	37.36	26.73%	24.31
NETL	3.94	35.28	11.16%	11.86
Renaissance	-3.97	34.96	-11.34%	-1.35
Belpointe	8.33	31.92	26.11%	-15.98
MainStay	0.00	31.81	0.00%	-4.87
iM	-7.75	31.36	-24.73%	-0.65
Merlyn.AI	-13.47	30.30	-44.46%	8.40
Reaves	-1.62	28.90	-5.62%	-1.75
Wahed	2.92	25.12	11.64%	7.79
Portfolio+	-1.55	24.13	-6.42%	-1.55
AAM	-13.74	23.27	-59.07%	-11.53
Innovation Shares	-0.51	22.64	-2.26%	7.58
USCF Advisers	0.00	22.51	0.00%	0.00
Hull	-9.29	22.00	-42.23%	-10.66
Syntax	-1.03	20.38	-5.05%	-37.83
Absolute	10.76	20.33	52.92%	23.02
Salt Financial	0.61	20.13	3.02%	2.73
AlphaClone	-0.98	19.41	-5.03%	2.23
EntrepreneurShares	0.00	19.41	0.00%	0.00
TMW Funds	-210.22	19.25	-1,091.79%	-208.66
Market Vectors	0.45	18.20	2.47%	0.44
EventShares	-0.04	18.12	-0.21%	3.64
Sage	0.00	17.21	0.00%	0.00
AlphaMark	0.00	15.90	0.00%	0.00
Beyond	1.87	15.84	11.82%	7.56
Procure	-3.61	14.60	-24.69%	8.03
Acquirers Fund	1.58	13.87	11.38%	1.58
BMO	0.00	13.78	0.00%	0.00
Change Finance	0.00	13.24	0.00%	3.49
Breakwave	4.19	13.11	31.97%	17.67
Validea	0.00	12.67	0.00%	0.01
Hoya	4.64	11.78	39.43%	7.64
Impact Shares	1.58	11.78	13.42%	2.17
Counterpoint	2.34	11.16	20.95%	11.72
Roundhill	-1.87	10.12	-18.53%	0.99
QRAFT	0.60	8.37	7.21%	0.60
UP Fintech	0.00	8.06	0.00%	0.00
Point Bridge Capital	-3.03	7.95	-38.18%	-3.03
Little Harbor Advisors	-0.56	4.46	-12.50%	-0.56
Affinity	0.00	4.29	0.00%	0.00
EquBot	0.00	4.06	0.00%	1.36
Leuthold	0.54	4.00	13.60%	4.30
Source Asset Management	0.00	3.01	0.00%	0.01
URNM	-0.00	2.93	-0.03%	1.17
Armor	0.71	2.49	28.72%	0.71
Volshares	-4.17	2.39	-174.35%	-0.22
TrueMark	2.79	2.28	122.28%	2.79
RYZZ	0.00	2.03	0.00%	0.00
Ideanomics	0.00	1.72	0.05%	0.56
SmartETFs	-0.60	1.50	-40.14%	-0.60
Global Beta	-0.31	1.29	-24.07%	-0.31

 

March 2020 ETF Issuer League Table

Issuer	Net Flows ($,M)	AUM ($,M)	% of AUM	YTD 2020 Net Flows($,M)
Blackrock	-13,838.34	1,428,659.69	-0.97%	10,610.46
Vanguard	4,236.57	986,555.80	0.43%	47,804.74
State Street Global Advisors	17,980.56	596,786.70	3.01%	1,442.54
Invesco	-2,947.86	187,199.25	-1.57%	-2,615.51
Charles Schwab	1,344.57	137,531.90	0.98%	5,763.43
First Trust	-3,591.75	70,140.43	-5.12%	-384.75
VanEck	-1,365.13	33,891.66	-4.03%	-755.32
ProShares	5,122.73	32,166.13	15.93%	6,457.94
WisdomTree	-1,358.38	28,966.36	-4.69%	-1,244.85
JPMorgan Chase	-3,801.03	23,703.91	-16.04%	-2,593.75
Allianz	-3,115.64	19,439.60	-16.03%	-1,677.92
Goldman Sachs	-244.65	15,041.22	-1.63%	841.11
Fidelity	-495.43	13,925.36	-3.56%	576.36
Deutsche Bank	-533.25	12,853.30	-4.15%	-920.48
Northern Trust	-1,164.12	11,351.33	-10.26%	-1,300.53
Direxion	4,035.27	9,840.42	41.01%	4,820.32
Mirae Asset	-285.62	8,484.78	-3.37%	254.28
SS&C	-240.06	5,157.07	-4.66%	-558.83
Credit Suisse	-1,069.20	5,102.78	-20.95%	-1,213.37
Pacer Advisors	7.66	5,046.00	0.15%	456.17
Franklin Templeton	-4.41	4,223.06	-0.10%	601.81
Victory Capital	-158.15	4,165.40	-3.80%	-99.44
John Hancock	39.88	3,612.52	1.10%	128.66
ARK	257.88	3,306.37	7.80%	518.81
The Hartford	-308.78	3,253.75	-9.49%	-136.82
CICC	49.65	3,104.78	1.60%	671.99
US Commodity Funds	2,227.71	2,991.59	74.47%	2,931.62
Aberdeen Standard Investments	-35.48	2,838.96	-1.25%	214.88
UBS	14.41	2,782.12	0.52%	1.44
New York Life	-183.57	2,763.56	-6.64%	-215.58
Principal	-31.93	2,741.15	-1.16%	70.79
Innovator	505.25	2,701.04	18.71%	780.76
Barclays Capital Inc.	-1,048.12	2,687.98	-38.99%	-1,484.62
ETFMG	-166.62	2,678.27	-6.22%	-117.40
Exchange Traded Concepts	-256.27	2,006.20	-12.77%	-228.46
Janus Henderson	73.90	1,842.64	4.01%	469.41
Vident	-14.87	1,280.21	-1.16%	2.54
Legg Mason	10.38	1,238.86	0.84%	42.74
Nuveen Securities	238.40	1,208.03	19.73%	436.06
American Century Investments	345.37	1,198.56	28.82%	415.83
Prudential	-145.02	991.42	-14.63%	148.88
GraniteShares	37.15	844.86	4.40%	138.07
Toroso Investments	118.30	810.94	14.59%	383.94
BMO	0.00	743.74	0.00%	-1.21
Transamerica Funds	5.43	701.34	0.77%	-8.77
Amplify	-11.11	674.76	-1.65%	27.90
AdvisorShares	-51.81	655.13	-7.91%	-0.42
O’Shares Investments	-15.36	612.54	-2.51%	0.54
Davis Advisers	7.21	602.63	1.20%	41.78
Columbia Management Investment Advisers, LLC	-49.67	569.83	-8.72%	3.36
Cambria	-6.75	519.59	-1.30%	-15.36
Aptus Capital Advisors	50.28	496.75	10.12%	83.14
Virtus Investment Partners	-123.07	472.62	-26.04%	-141.34
Main Management	-17.71	436.90	-4.05%	2.40
WBI	-4.16	387.54	-1.07%	-26.07
Inspire	-1.74	377.05	-0.46%	4.04
FormulaFolios	-23.41	369.68	-6.33%	-9.12
US Global Investors	318.81	345.54	92.26%	323.81
Nationwide	-18.93	309.98	-6.11%	-16.53
Alpha Architect	-18.29	294.47	-6.21%	-13.48
Tortoise	-33.39	261.47	-12.77%	-56.92
The Motley Fool	-8.60	259.32	-3.32%	16.10
Timothy Plan	6.34	251.93	2.52%	71.17
Defiance ETFs	7.09	251.69	2.82%	114.19
Merk	10.81	220.87	4.90%	18.05
Liquid Strategies	10.12	201.21	5.03%	109.29
ClearShares	0.00	200.46	0.00%	12.81
Sprott, Inc.	-7.36	190.53	-3.86%	-8.19
Swedish Export Credit	-19.94	148.21	-13.45%	-51.86
Citigroup Inc	-2.36	140.16	-1.69%	-2.36
Howard Capital Management	12.39	139.72	8.87%	46.12
Teucrium	-9.72	137.86	-7.05%	-16.51
Reality Shares	3.42	129.57	2.64%	-2.93
AGF	-92.33	128.73	-71.72%	-20.62
Core Alternative Capital	-1.30	121.95	-1.07%	6.97
EntrepreneurShares, LLC	19.37	112.88	17.16%	19.37
Regents Park Funds	25.30	106.41	23.78%	31.78
TrimTabs	-7.80	100.44	-7.77%	-10.86
Arrow Funds	-0.66	97.58	-0.68%	-9.74
Highland Capital Management	8.24	96.09	8.57%	-166.11
Pacific Life	0.00	92.26	0.00%	1.27
Exponential ETFs	-0.63	72.45	-0.86%	3.85
Distillate Capital	7.05	65.91	10.70%	19.41
OBP Capital LLC	-0.51	65.16	-0.78%	7.58
Redwood Investment Management	4.54	61.53	7.38%	-17.00
Strategy Shares	-40.47	49.68	-81.46%	-38.59
Premise Capital	7.84	49.43	15.85%	15.13
Gadsden	1.90	48.72	3.90%	3.82
Natixis	2.09	45.56	4.58%	2.09
Cboe Vest Financial LLC	2.73	45.48	6.00%	6.01
Metaurus Advisors	0.00	39.76	0.01%	0.01
Donald L. Hagan LLC	5.87	38.12	15.40%	40.72
Renaissance Capital	-3.97	34.96	-11.34%	-1.35
Belpointe Asset Management, LLC	8.33	31.92	26.11%	-15.98
iM Global Partner	-7.75	31.36	-24.73%	-0.65
EMPIRICAL FINANCE LLC	-13.47	30.30	-44.46%	8.40
Wahed Invest LLC	2.92	25.12	11.64%	7.79
Advisors Asset Management	-13.74	23.27	-59.07%	-11.53
Syntax Advisors	-1.03	20.38	-5.05%	-37.83
Absolute Investment Advisers LLC	10.76	20.33	52.92%	23.02
Salt Financial	0.61	20.13	3.02%	2.73
Morgan Stanley	0.45	18.20	2.47%	0.44
EventShares	-0.04	18.12	-0.21%	3.64
Sage	0.00	17.21	0.00%	0.00
AlphaMark Advisors	0.00	15.90	0.00%	0.00
Beyond Investing	1.87	15.84	11.82%	7.56
ProcureAM	-3.61	14.60	-24.69%	8.03
ETF Series Solutions	1.58	13.87	11.38%	1.58
Change Finance	0.00	13.24	0.00%	3.49
Validea Capital Management	0.00	12.67	0.00%	0.01
Pettee Investors	4.64	11.78	39.43%	7.64
Impact Shares	1.58	11.78	13.42%	2.17
Counterpoint Mutual Funds LLC	2.34	11.16	20.95%	11.72
Roundhill Investments	-1.87	10.12	-18.53%	0.99
UP Fintech Holding	0.00	8.06	0.00%	0.00
Point Bridge Capital	-3.03	7.95	-38.18%	-3.03
Little Harbor Advisors	-0.56	4.46	-12.50%	-0.56
EquBot	0.00	4.06	0.00%	1.36
The Leuthold Group LLC	0.54	4.00	13.60%	4.30
Source Asset Management	0.00	3.01	0.00%	0.01
Whitford Asset Management	-4.17	2.39	-174.35%	-0.22
TrueMark Investments, LLC	2.79	2.28	122.28%	2.79
RYZZ Capital Management	0.00	2.03	0.00%	0.00
Guinness Atkinson Asset Management	-0.60	1.50	-40.14%	-0.60
Global Beta Advisors	-0.31	1.29	-24.07%	-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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