After two months of heady inflows, investors pulled back from ETFs in June. On net, they took out $2.3 billion from U.S.-listed ETFs, pushing year-to-date inflows down to $121.3 billion, according to the latest data from FactSet.
U.S. stocks surged during the first half of the month, before retreating during the second. The push and pull between a strong economy and corporate profits on one hand, and trade war fears on the other, drove the action in equity markets.
Outflows For Int’l Equity ETFs
U.S. equity ETFs picked up a modest $3.6 billion in new money during June. Still, that's much better than the $11.2 billion worth of outflows that international equity ETFs saw.
Sentiment toward international markets—especially emerging markets—took a beating in June due to trade war fears, a rising U.S. dollar and slowing growth.
The iShares MSCI Emerging Markets ETF (EEM) slipped to a one-year low during the month. It was also the ETF with the largest outflows during June, equaling $5.4 billion.
In addition to international equity ETFs, another area investors lost faith in was commodities. They took $2.1 billion from ETFs tied to that asset class, including $1.1 billion from the SPDR Gold Trust (GLD) . Gold prices recently dipped to the lowest levels of 2018, near $1,250/oz, well below their spring highs near $1,350.
Bright Spot
The one bright spot on the flows front in June was fixed income, just as it has been all year long. U.S. fixed-income ETFs took in a net $9.1 billion during the month. On a year-to-date basis, U.S. fixed-income ETFs are now the leading asset class, outpacing U.S. equity ETFs and international equity ETFs.
The benchmark U.S. 10-year Treasury yield finished June at 2.83%, close to where it began. The two-year yield edged up from 2.4% to 2.51%.
Five of the 10 ETFs with the largest inflows during June were fixed-income funds, including the Vanguard Mortgage-Backed Securities ETF (VMBS) , the Vanguard Short-Term Bond ETF (BSV) and the Schwab U.S. TIPS ETF (SCHP) .
For a full list of the top inflows and outflows for June, and 2018 as a whole, see the tables below:
Top Gainers (June 2018)
Ticker
Name
Issuer
Net Flows ($,mm)
AUM ($M)
% of AUM
YTD 2018 Net Flows($,M)
VTV
Vanguard Value ETF
Vanguard
1,887.72
38,701.92
5.13%
3,062.95
IJR
iShares Core S&P Small Cap ETF
BlackRock
1,316.74
43,052.04
3.15%
3,440.24
VMBS
Vanguard Mortgage-Backed Securities ETF
Vanguard
1,268.19
6,751.33
23.13%
2,023.30
BSV
Vanguard Short-Term Bond ETF
Vanguard
1,194.03
25,520.90
4.91%
1,886.51
SCHP
Schwab U.S. TIPS ETF
Charles Schwab
1,185.08
5,435.24
27.88%
2,584.52
GDX
VanEck Vectors Gold Miners ETF
VanEck
937.20
8,350.33
12.64%
1,180.16
IEFA
iShares Core MSCI EAFE ETF
BlackRock
931.24
56,925.73
1.66%
18,070.97
IWV
iShares Russell 3000 ETF
BlackRock
905.47
9,325.75
10.75%
666.28
GOVT
iShares U.S. Treasury Bond ETF
BlackRock
886.67
6,539.75
15.68%
1,452.96
SCHR
Schwab Intermediate-Term U.S. Treasury ETF
Charles Schwab
880.42
2,767.14
46.66%
1,628.44
Story Continues
Top Gainers (Year-to-Date)
Ticker
Name
Issuer
Net Flows ($,mm)
AUM ($M)
% of AUM
June 2018 Net Flows($,M)
IEFA
iShares Core MSCI EAFE ETF
BlackRock
18,070.97
56,925.73
46.51%
931.24
IEMG
iShares Core MSCI Emerging Markets ETF
BlackRock
7,968.17
45,735.38
21.10%
0.00
SHV
iShares Short Treasury Bond ETF
BlackRock
6,925.71
14,936.57
86.45%
794.27
VOO
Vanguard S&P 500 ETF
Vanguard
5,790.09
90,714.89
6.82%
306.41
VEA
Vanguard FTSE Developed Markets ETF
Vanguard
4,755.98
69,485.73
7.35%
221.08
IVV
iShares Core S&P 500 ETF
BlackRock
4,514.45
148,150.45
3.14%
-3,650.38
AGG
iShares Core U.S. Aggregate Bond ETF
BlackRock
3,787.62
55,271.42
7.36%
-127.38
FLOT
iShares Floating Rate Bond ETF
BlackRock
3,781.83
10,397.96
57.16%
722.83
MTUM
iShares Edge MSCI U.S.A. Momentum Factor ETF
BlackRock
3,551.04
9,300.03
61.77%
-308.38
IJR
iShares Core S&P Small Cap ETF
BlackRock
3,440.24
43,052.04
8.68%
1,316.74
Biggest Losers (June 2018)
Ticker
Name
Issuer
Net Flows ($,mm)
AUM ($M)
% of AUM
YTD 2018 Net Flows($,M)
EEM
iShares MSCI Emerging Markets ETF
BlackRock
-5,357.84
30,339.41
-15.01%
-5,482.00
IVV
iShares Core S&P 500 ETF
BlackRock
-3,650.38
148,150.45
-2.40%
4,514.45
SPY
SPDR S&P 500 ETF Trust
State Street Global Advisors
-3,527.65
259,088.68
-1.34%
-20,781.16
EFA
iShares MSCI EAFE ETF
BlackRock
-1,676.68
71,842.17
-2.28%
-8,922.27
HYG
iShares iBoxx USD High Yield Corporate Bond ETF
BlackRock
-1,504.54
14,027.11
-9.69%
-3,322.03
XLF
Financial Select Sector SPDR Fund
State Street Global Advisors
-1,375.84
29,751.82
-4.42%
-1,471.39
IVE
iShares S&P 500 Value ETF
BlackRock
-1,266.50
14,614.67
-7.97%
-124.35
VWO
Vanguard FTSE Emerging Markets ETF
Vanguard
-1,186.76
59,457.33
-1.96%
-822.95
EZU
iShares MSCI Eurozone ETF
BlackRock
-1,172.23
10,379.17
-10.15%
-4,151.52
GLD
SPDR Gold Trust
State Street Global Advisors
-1,147.24
32,946.43
-3.36%
-666.15
Biggest Losers (Year-to-Date)
Ticker
Name
Issuer
Net Flows ($,mm)
AUM ($M)
% of AUM
June 2018 Net Flows($,M)
SPY
SPDR S&P 500 ETF Trust
State Street Global Advisors
-20,781.16
259,088.68
-7.43%
-3,527.65
EFA
iShares MSCI EAFE ETF
BlackRock
-8,922.27
71,842.17
-11.05%
-1,676.68
EEM
iShares MSCI Emerging Markets ETF
BlackRock
-5,482.00
30,339.41
-15.30%
-5,357.84
IWD
iShares Russell 1000 Value ETF
BlackRock
-4,304.13
36,075.42
-10.66%
-20.33
EZU
iShares MSCI Eurozone ETF
BlackRock
-4,151.52
10,379.17
-28.57%
-1,172.23
LQD
iShares iBoxx USD Investment Grade Corporate Bond ETF
BlackRock
-3,880.50
33,093.55
-10.50%
855.42
HYG
iShares iBoxx USD High Yield Corporate Bond ETF
BlackRock
-3,322.03
14,027.11
-19.15%
-1,504.54
JNK
SPDR Bloomberg Barclays High Yield Bond ETF
State Street Global Advisors
-2,838.02
9,498.13
-23.01%
-215.13
DXJ
WisdomTree Japan Hedged Equity Fund
WisdomTree
-2,768.62
6,051.49
-31.39%
-132.54
VNQ
Vanguard Real Estate ETF
Vanguard
-2,764.99
31,067.59
-8.17%
-133.30
Asset Classes (June 2018)
Net Flows ($, mm)
AUM ($, mm)
% of AUM
U.S. Equity
3,602.18
1,995,905.02
0.18%
International Equity
-11,203.84
781,801.86
-1.43%
U.S. Fixed Income
9,080.77
552,422.38
1.62%
International Fixed Income
-953.51
61,810.89
-1.37%
Commodities ETFs
-2,127.93
65,667.26
-3.24%
Currency
-20.12
1,216.64
-1.65%
Leveraged
-375.63
34,999.73
-1.07%
Inverse
-244.34
13,112.64
-1.86%
Asset Allocation
3.90
9,225.61
0.04%
Alternatives
-62.46
4,400.60
-1.42%
Total:
-2,300.53
3,520,562.64
-0.07%
Asset Classes (Year-to-Date)
Net Flows ($, mm)
AUM ($, mm)
% of AUM
U.S. Equity
36,149.19
1,995,905.02
1.80%
International Equity
31,135.88
781,801.86
4.05%
U.S. Fixed Income
40,686.38
552,422.38
7.32%
International Fixed Income
5,704.58
61,810.89
9.62%
Commodities ETFs
1,967.48
65,667.26
3.00%
Currency
27.29
1,216.64
2.24%
Leveraged
2,611.55
34,999.73
7.46%
Inverse
2,473.32
13,112.64
18.86%
Asset Allocation
554.94
9,225.61
6.02%
Alternatives
-38.60
4,400.60
-0.88%
Total:
121,266.81
3,520,562.64
3.46%
June 2018 League Table
Issuer
Net Flows ($,M)
AUM ($,M)
% of AUM
YTD 2018 Net Flows($,M)
BlackRock
-8,971.63
1,375,042.93
-0.65%
43,597.07
Vanguard
6,569.23
882,969.74
0.74%
37,832.51
SSGA
-5,466.08
610,257.39
-0.90%
-12,420.71
Invesco
-1,004.75
185,115.97
-0.54%
4,085.69
Charles Schwab
3,482.92
114,330.78
3.05%
15,935.77
First Trust
1,186.94
66,554.41
1.78%
7,774.02
WisdomTree
-521.60
41,446.96
-1.26%
-3,325.37
VanEck
626.88
34,767.79
1.80%
1,965.14
ProShares
-633.49
29,640.15
-2.14%
2,396.47
Northern Trust
78.18
16,664.41
0.47%
875.69
PIMCO
-82.61
16,242.66
-0.51%
1,583.11
ALPS
313.61
14,294.79
2.19%
454.88
Direxion
-161.52
12,775.28
-1.26%
693.16
Deutsche Bank
172.90
12,304.65
1.41%
-705.63
Fidelity
136.12
11,096.74
1.23%
2,034.36
Global X
83.96
10,004.20
0.84%
2,205.68
Goldman Sachs
446.49
8,194.59
5.45%
1,861.11
JPMorgan
605.21
8,178.31
7.40%
2,103.52
UBS
55.56
6,788.09
0.82%
-106.04
Barclays Bank PLC
-88.66
5,630.81
-1.57%
2,004.09
Exchange Traded Concepts
-35.47
5,422.26
-0.65%
629.73
IndexIQ
47.85
4,263.24
1.12%
798.99
Credit Suisse
111.77
4,204.42
2.66%
-184.63
The Principal Financial Group
-21.82
3,424.87
-0.64%
1,260.22
US Commodity Funds
-183.08
3,130.03
-5.85%
-861.16
Victory Capital Management
107.33
2,895.51
3.71%
645.75
ETF Managers Group
150.24
2,831.34
5.31%
940.90
OppenheimerFunds
156.43
2,751.50
5.69%
238.61
Pacer Financial
61.66
2,405.78
2.56%
807.68
ETF Securities
-259.25
2,137.81
-12.13%
-296.84
ARK
279.26
2,121.57
13.16%
1,096.51
KraneShares
-165.54
2,019.79
-8.20%
576.37
Franklin Templeton Investments
11.14
1,385.44
0.80%
419.06
John Hancock
25.67
1,284.96
2.00%
194.61
USAA Asset Management
10.07
1,056.26
0.95%
743.43
Virtus
6.45
1,019.56
0.63%
88.62
Columbia
-38.13
1,010.80
-3.77%
-184.53
Northern Lights
41.15
995.80
4.13%
213.29
Millington Securities Inc
-11.59
929.17
-1.25%
-42.89
Hartford
70.87
923.23
7.68%
591.85
AdvisorShares
-15.42
880.72
-1.75%
9.56
Legg Mason
-1.29
798.72
-0.16%
157.39
Transamerica
-14.59
784.97
-1.86%
-59.54
CitiGroup
-1.71
729.35
-0.23%
131.12
Innovator Capital Management
57.01
719.62
7.92%
200.94
Cambria
-10.66
708.45
-1.51%
42.62
Amplify
63.61
651.94
9.76%
419.40
OSI ETF Trust
33.79
625.22
5.41%
-24.63
Highland Capital Management
10.93
598.52
1.83%
38.31
Janus Henderson
53.05
573.29
9.25%
289.34
Davis
25.94
523.24
4.96%
168.55
Nuveen
-57.18
487.91
-11.72%
76.31
Alpha Architect
10.45
479.42
2.18%
156.76
Nationwide Fund Advisors
-1.44
372.24
-0.39%
16.23
Horizons
34.00
364.37
9.33%
114.84
GraniteShares
244.96
300.17
81.61%
277.62
Reality Shares
-2.25
247.95
-0.91%
158.84
Aberdeen Asset Management
3.66
199.81
1.83%
115.80
Arrow Investment Advisors
-2.54
174.65
-1.45%
9.58
BMO
0.00
162.47
0.00%
9.74
Montage Managers
23.01
152.67
15.07%
31.54
Merk
3.23
142.10
2.28%
10.65
Aptus Capital Advisors
4.60
138.75
3.32%
74.75
Strategy Shares
10.51
115.32
9.11%
32.76
The RBB Fund
4.50
112.56
4.00%
107.88
ClearShares
0.00
111.44
0.00%
0.00
US Global Investors
-1.46
104.07
-1.40%
2.31
TrimTabs Asset Management
6.22
97.06
6.40%
47.04
EntrepreneurShares, LLC
2.68
73.83
3.62%
11.77
FQF Trust
-4.85
63.28
-7.66%
-9.70
Exponential ETFs
2.41
63.16
3.82%
10.93
OBP Capital LLC
-0.09
54.49
-0.17%
5.01
Natixis
0.00
41.68
0.00%
4.72
Point Bridge Capital
0.01
38.97
0.02%
5.78
PGIM Investments
3.76
33.81
11.11%
8.76
Morgan Stanley
-0.00
31.43
-0.00%
-0.00
Premise Capital
4.52
31.31
14.44%
12.05
Validea Capital Management
1.45
27.83
5.22%
1.48
AlphaMark Advisors
0.00
27.45
0.00%
0.00
Renaissance Capital
0.00
21.51
0.00%
0.00
Diamond Hill
0.00
20.94
0.00%
1.52
American Century
0.00
19.07
0.00%
18.60
Metaurus Advisors
2.01
18.81
10.71%
13.45
Active Weighting Advisors
2.69
15.41
17.43%
0.64
Sage Advisory Services
4.84
14.52
33.36%
4.84
USCF Advisers
-0.00
14.23
-0.00%
2.25
Advisors Asset Management
2.68
11.64
23.03%
6.58
CSOP
0.00
11.02
0.00%
2.79
StrongVest
0.00
8.63
0.00%
0.00
Cboe Vest Financial
2.04
8.01
25.47%
8.03
TriLine Index Solutions
0.00
6.66
0.00%
6.25
SL Advisors
1.31
6.37
20.50%
2.57
Little Harbor Advisors
0.00
5.55
0.00%
5.64
Regents Park Funds
0.00
4.69
0.00%
2.49
SerenityShares
-0.00
4.22
-0.01%
0.00
Change Finance
-0.00
3.82
-0.09%
0.96
Whitford Asset Management
-0.01
3.12
-0.31%
0.62
Salt Financial
0.00
2.39
0.00%
2.50
Swedish Export Credit
0.00
0.00
0.00%
0.00
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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