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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