ETF Inflows Up To $385B After Strong Oct
A familiar roster of massive, low-cost vanilla ETFs led by the SPDR S&P 500 ETF Trust (SPY) dominated net creations in October, helping bring the already-record-breaking annual inflows to $385 billion so far in 2017.
The data suggest that investors continue to plow assets into some of the cheapest, most liquid funds, buying into a U.S. stock market that’s surging to new highs in the face of an ongoing global growth story, and hopes of U.S. tax reform.
SPY Leads In October
U.S. equity ETFs saw nearly $30 billion in net creations, with funds like SPY, the iShares Core S&P 500 ETF (IVV) and the PowerShares QQQ Trust (QQQ) leading the haul. The 10 most popular ETFs last month attracted more than $25 billion in combined net assets, roughly half of all the fresh net inflows of $54 billion U.S.-listed ETFs received in October.
IVV is still holding onto the No. 1 spot as the most popular ETF of the year, attracting net assets of more than $27 billion year-to-date.
Also undeterred is investor demand for international equity exposure focused largely on developed and emerging markets. International equity ETFs have now gathered $137 billion in net creations this year, more than any other asset class.
One of the exceptions in this space was the iShares MSCI Spain Capped ETF (EWP), which bled more than 37% of its total assets last month in the face of the ongoing conflict between Spain and Catalonia’s leaders.
Fixed-Income ETFs
Not so popular last month was the iShares 20+ Year Treasury Bond ETF (TLT), which led outflows with net redemptions of $1.34 billion, as investors trim exposure to long-dated bonds ahead of what could be another rate hike before the year is over.
Still, demand for U.S. fixed-income ETFs was generally strong last month. The asset class raked in $8.2 billion in fresh net assets. Ten-year Treasury yields hit a seven-month high during October, but receded somewhat amid uncertainty over who will lead the Federal Reserve going forward.
The prevailing sentiment is that president Trump is likely to nominate Fed Governor Jerome Powell to replace Janet Yellen at the helm of the Fed. If nominated to replace Yellen, it would be the first time a Fed Chair wasn't reappointed since 1979, according to Reuters.
Total U.S.-listed ETF assets now total more than $3.267 trillion.
Top Gainers (October 2017)
Ticker | Name | Issuer | Net Flows ($,mm) | AUM ($M) | % of AUM | YTD 2017 Net Flows($,M) |
State Street Global Advisors | 5,794.24 | 252,626.24 | 2.35% | -4,989.92 | ||
BlackRock | 3,933.06 | 133,283.99 | 3.04% | 27,239.86 | ||
Invesco PowerShares | 2,644.87 | 57,041.38 | 4.86% | 3,560.35 | ||
BlackRock | 2,500.01 | 39,548.03 | 6.75% | 18,977.28 | ||
Vanguard | 2,069.80 | 77,891.94 | 2.73% | 12,023.14 | ||
BlackRock | 1,950.82 | 43,274.35 | 4.72% | 1,397.72 | ||
BlackRock | 1,731.13 | 40,260.26 | 4.49% | 15,134.43 | ||
Vanguard | 1,653.49 | 65,454.83 | 2.59% | 15,819.17 | ||
State Street Global Advisors | 1,583.26 | 12,682.46 | 14.26% | 987.98 | ||
BlackRock | 1,308.76 | 39,053.79 | 3.47% | 10,813.82 |
Top Gainers (Year-to-Date)
Ticker | Name | Issuer | Net Flows ($,mm) | AUM ($M) | % of AUM | October 2017 Net Flows($,M) |
BlackRock | 27,239.86 | 133,283.99 | 25.69% | 3,933.06 | ||
BlackRock | 18,977.28 | 39,548.03 | 92.25% | 2,500.01 | ||
Vanguard | 15,819.17 | 65,454.83 | 31.87% | 1,653.49 | ||
BlackRock | 15,134.43 | 40,260.26 | 60.23% | 1,731.13 | ||
Vanguard | 12,023.14 | 77,891.94 | 18.25% | 2,069.80 | ||
BlackRock | 10,813.82 | 39,053.79 | 38.29% | 1,308.76 | ||
Vanguard | 9,618.39 | 64,809.52 | 17.43% | 1,078.22 | ||
BlackRock | 9,481.25 | 81,688.46 | 13.13% | 0.00 | ||
BlackRock | 9,206.99 | 51,155.55 | 21.95% | 1,061.48 | ||
Vanguard | 7,133.63 | 17,749.51 | 67.20% | 386.14 |
Biggest Losers (October 2017)
Ticker | Name | Issuer | Net Flows ($,mm) | AUM ($M) | % of AUM | YTD 2017 Net Flows($,M) |
BlackRock | -1,344.33 | 8,193.57 | -14.09% | 2,709.83 | ||
State Street Global Advisors | -894.85 | 7,743.31 | -10.36% | -681.03 | ||
BlackRock | -591.57 | 7,552.06 | -7.26% | 1,674.97 | ||
BlackRock | -568.57 | 942.79 | -37.62% | 160.16 | ||
State Street Global Advisors | -562.78 | 34,781.49 | -1.59% | 1,432.09 | ||
BlackRock | -530.80 | 3,976.61 | -11.78% | -403.03 | ||
BlackRock | -495.22 | 19,256.07 | -2.51% | -199.80 | ||
State Street Global Advisors | -488.50 | 7,602.66 | -6.04% | -240.57 | ||
State Street Global Advisors | -420.75 | 17,554.23 | -2.34% | 1,271.82 | ||
BlackRock | -404.26 | 7,477.34 | -5.13% | -163.04 |
Biggest Losers (Year-to-Date)
Ticker | Name | Issuer | Net Flows ($,mm) | AUM ($M) | % of AUM | October 2017 Net Flows($,M) |
State Street Global Advisors | -4,989.92 | 252,626.24 | -1.94% | 5,794.24 | ||
VanEck | -2,338.28 | 7,967.09 | -22.69% | 570.12 | ||
Deutsche Bank | -1,720.26 | 7,033.16 | -19.65% | -101.18 | ||
State Street Global Advisors | -1,389.79 | 19,372.74 | -6.69% | 23.76 | ||
WisdomTree | -1,366.88 | 9,113.15 | -13.04% | -91.50 | ||
First Trust | -1,143.02 | 214.77 | -84.18% | 4.22 | ||
BlackRock | -1,133.34 | 38,712.11 | -2.84% | 235.69 | ||
BlackRock | -954.26 | 17,155.64 | -5.27% | -147.10 | ||
BlackRock | -847.24 | 1,173.13 | -41.93% | -6.48 | ||
BlackRock | -733.77 | 3,119.20 | -19.04% | 37.71 |
Asset Classes (October 2017)
| Net Flows ($, mm) | AUM ($, mm) | % of AUM |
U.S. Equity | 29,418.07 | 1,807,429.40 | 1.63% |
International Equity | 14,819.15 | 760,727.99 | 1.95% |
U.S. Fixed Income | 8,183.49 | 515,143.83 | 1.59% |
International Fixed Income | 1,626.65 | 55,934.64 | 2.91% |
Commodities ETFs | -480.57 | 65,568.32 | -0.73% |
Currency | 85.93 | 1,398.80 | 6.14% |
Leveraged | 1,062.89 | 30,991.56 | 3.43% |
Inverse | -293.46 | 17,275.75 | -1.70% |
Asset Allocation | 151.21 | 8,594.69 | 1.76% |
Alternatives | 282.34 | 4,120.14 | 6.85% |
Total: | 54,855.70 | 3,267,185.12 | 1.68% |
Asset Classes (Year-to-Date)
| Net Flows ($, mm) | AUM ($, mm) | % of AUM |
U.S. Equity | 129,246.46 | 1,807,421.10 | 7.15% |
International Equity | 137,012.00 | 760,728.13 | 18.01% |
U.S. Fixed Income | 98,993.57 | 515,143.83 | 19.22% |
International Fixed Income | 14,596.68 | 55,934.64 | 26.10% |
Commodities ETFs | 1,770.73 | 65,568.32 | 2.70% |
Currency | -67.03 | 1,398.80 | -4.79% |
Leveraged | 2,387.04 | 30,991.56 | 7.70% |
Inverse | 2,275.06 | 17,275.75 | 13.17% |
Asset Allocation | 561.17 | 8,594.69 | 6.53% |
Alternatives | 1,324.30 | 4,120.12 | 32.14% |
Total: | 388,099.98 | 3,267,176.94 | 11.88% |
October 2017 League Table
Issuer | Net Flows ($,M) | AUM ($,M) | % of AUM | YTD 2017 Net Flows($,M) |
BlackRock | 19,979.97 | 1,294,667.03 | 1.54% | 178,137.64 |
Vanguard | 13,227.35 | 812,325.25 | 1.63% | 117,832.27 |
SSGA | 8,313.91 | 577,521.37 | 1.44% | 15,052.12 |
Invesco PowerShares | 3,079.86 | 135,909.40 | 2.27% | 9,549.05 |
Charles Schwab | 2,104.48 | 91,226.51 | 2.31% | 22,156.92 |
First Trust | 1,026.23 | 53,898.35 | 1.90% | 6,988.11 |
WisdomTree | 563.36 | 45,814.66 | 1.23% | 416.59 |
Guggenheim | 569.26 | 38,335.39 | 1.48% | 3,423.12 |
VanEck | 1,354.45 | 33,315.62 | 4.07% | 2,341.85 |
ProShares | -28.85 | 29,115.36 | -0.10% | 2,699.60 |
Northern Trust | 178.68 | 15,259.40 | 1.17% | 2,374.81 |
PIMCO | 241.72 | 14,650.87 | 1.65% | 1,919.08 |
ALPS | 94.06 | 13,814.32 | 0.68% | 2,192.17 |
Deutsche Bank | -47.63 | 13,180.55 | -0.36% | -2,096.16 |
Direxion | 432.75 | 12,055.07 | 3.59% | 526.11 |
Fidelity | 271.30 | 7,989.18 | 3.40% | 1,971.61 |
Global X | 751.23 | 7,374.65 | 10.19% | 3,243.34 |
UBS | 24.96 | 7,141.13 | 0.35% | 233.13 |
Barclays Capital | 218.15 | 6,857.19 | 3.18% | 740.95 |
Goldman Sachs | 25.53 | 6,151.85 | 0.41% | 2,518.71 |
JPMorgan | 304.30 | 5,974.04 | 5.09% | 1,409.39 |
Credit Suisse | 460.99 | 5,195.85 | 8.87% | 2,038.37 |
Exchange Traded Concepts | 183.25 | 4,421.70 | 4.14% | 1,734.31 |
US Commodity Funds | -73.79 | 3,590.22 | -2.06% | -706.99 |
IndexIQ | 171.83 | 3,183.81 | 5.40% | 729.76 |
ETF Securities | 47.93 | 2,600.76 | 1.84% | 244.92 |
OppenheimerFunds | -32.22 | 2,267.57 | -1.42% | 558.85 |
Victory Capital Management | 94.11 | 2,002.50 | 4.70% | 913.94 |
ETF Managers Group | 106.52 | 1,608.11 | 6.62% | 564.72 |
KraneShares | 20.47 | 1,396.31 | 1.47% | 926.22 |
Pacer Financial | 167.74 | 1,393.60 | 12.04% | 514.92 |
The Principal Financial Group | 376.35 | 1,317.19 | 28.57% | 832.51 |
Columbia | -10.67 | 1,288.22 | -0.83% | 128.14 |
AdvisorShares | 17.47 | 1,113.19 | 1.57% | 68.78 |
Millington Securities Inc | -9.78 | 997.44 | -0.98% | -96.47 |
John Hancock | 56.44 | 973.20 | 5.80% | 205.95 |
Virtus | 19.55 | 920.83 | 2.12% | 490.71 |
Transamerica | 0.00 | 825.25 | 0.00% | 0.00 |
Franklin ETF Trust | 2.75 | 780.55 | 0.35% | 151.52 |
Northern Lights | 67.37 | 709.53 | 9.49% | 543.45 |
CitiGroup | -61.77 | 702.25 | -8.80% | 299.36 |
Cambria | 12.25 | 644.73 | 1.90% | 254.00 |
Highland Capital Management | 40.39 | 627.39 | 6.44% | 160.16 |
Legg Mason | 50.52 | 621.77 | 8.12% | 448.39 |
FQF Trust | -10.14 | 548.17 | -1.85% | 62.79 |
ARK | 71.39 | 493.77 | 14.46% | 349.83 |
Swedish Export Credit | -0.46 | 343.01 | -0.13% | -11.52 |
Nationwide Fund Advisors | 1.23 | 342.04 | 0.36% | 338.71 |
Hartford | 13.80 | 320.99 | 4.30% | 148.15 |
Janus Henderson | 17.31 | 302.98 | 5.71% | 160.03 |
Nuveen | 69.97 | 289.48 | 24.17% | 104.30 |
Alpha Architect | 9.84 | 283.03 | 3.48% | 109.83 |
Davis | 39.39 | 267.17 | 14.74% | 209.65 |
Horizons | 9.97 | 237.35 | 4.20% | 84.59 |
Elkhorn | -1.20 | 167.49 | -0.72% | 37.64 |
Academy Funds | 82.22 | 164.80 | 49.89% | 112.56 |
Teucrium | -2.14 | 157.60 | -1.36% | 12.97 |
Merk | 2.60 | 133.82 | 1.94% | 10.14 |
Arrow Investment Advisors | -1.39 | 131.30 | -1.06% | 19.02 |
US Global Investors | -1.38 | 122.56 | -1.13% | 56.47 |
Amplify | 3.72 | 121.30 | 3.06% | 100.15 |
ClearShares | 0.00 | 104.32 | 0.00% | 98.34 |
Reality Shares | 7.94 | 88.85 | 8.94% | 39.16 |
Montage Managers | 12.60 | 78.75 | 16.00% | 27.18 |
Morgan Stanley | -0.96 | 77.77 | -1.23% | -17.10 |
Strategy Shares | 4.96 | 72.83 | 6.81% | 50.77 |
OSI ETF Trust | 3.98 | 71.87 | 5.54% | 63.82 |
BMO | 0.00 | 46.33 | 0.00% | 0.00 |
ACSI Funds | 2.23 | 44.88 | 4.96% | 29.38 |
TrimTabs Asset Management | 4.33 | 42.94 | 10.07% | 33.15 |
Aptus Capital Advisors | 5.88 | 40.42 | 14.55% | 9.80 |
OBP Capital LLC | 7.48 | 38.01 | 19.68% | 35.00 |
Point Bridge Capital | 7.23 | 31.04 | 23.30% | 30.04 |
AlphaMark Advisors | 0.00 | 26.20 | 0.00% | 0.00 |
Validea Capital Management | 0.00 | 25.34 | 0.00% | 1.36 |
Janus | 0.00 | 24.99 | 0.00% | 13.93 |
Renaissance Capital | 1.38 | 19.03 | 7.25% | 0.25 |
Diamond Hill | 0.00 | 18.44 | 0.00% | -1.56 |
Premise Capital | 1.47 | 16.13 | 9.09% | 9.68 |
Natixis | 0.00 | 16.01 | 0.00% | 0.00 |
GraniteShares | -0.06 | 12.85 | -0.50% | 7.65 |
CSOP | 0.00 | 10.47 | 0.00% | -0.58 |
USAA Asset Management | 0.00 | 10.05 | 0.00% | 0.00 |
StrongVest | 1.27 | 8.88 | 14.33% | 7.56 |
LocalShares | 0.00 | 8.01 | 0.03% | 0.00 |
Active Weighting Advisors | 0.00 | 6.12 | 0.00% | 0.00 |
AlphaClone | 0.00 | 4.78 | 0.00% | 1.46 |
Change Finance | 2.71 | 2.73 | 99.01% | 2.71 |
SerenityShares | 0.00 | 2.63 | 0.00% | 0.01 |
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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