ETFGI reports assets invested in ETFs and ETPs listed in the US reached a new high of $3.71 trillion at the end of August 2018
LONDON — September 14, 2018 — ETFGI, a leading independent research and consultancy firm covering trends in the global ETF/ETP ecosystem, reported today that ETFs and ETPs listed in the US reached a new high of US$3.71 Tn in assets, following net inflows of US$24.71 Bn in August, according to ETFGI’s August 2018 US ETF and ETP industry landscape insights report, an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)
Highlights
- Total Assets in ETFs and ETPs listed in the US reached a record $3.71 Tn at the end August.
- Net new assets gathered by ETFs/ETPs listed in the US were $24.71 Bn in August.
- Equity products gathered the largest net inflows during August with $19.67 Bn, while commodity ETFs/ETPs experienced the largest net outflows with $2.59 Bn.
“On August 22, 2018 the S&P 500 marked its longest bull market - 3,453 days, without a bear market - a 20% drop from the index’s 52-week high. August was a strong month for U.S. equities with economic strength and strong corporate earnings pushing the S&P 500 to reach record highs and gain 3.26% during the month and up 9.94% year to date. Most non-US markets suffered declines during August due to investors’ concerns over trade tensions, Brexit, currency crises and a fear of contagion. Developed markets ex US declined 1.44% in August while up 0.46% YTD, EM markets were down 3.51% and are down 0.81% YTD and Frontier markets were down 4.50% and are down 1.66% YTD.” according to Deborah Fuhr, managing partner and a founder of ETFGI.
At the end of August 2018, the US ETF/ETP industry had 2,173 ETFs/ETPs, assets of $3.71 Tn, from 143 providers listed on 3 exchanges. Due to net inflows and market moves the assets invested in ETFs/ETPs listed in the US increased by 2.11%, from $3.63 Tn in July 2018 to $3.71 Tn.
Growth in US Listed ETF and ETP assets as of the end of August 2018
Equity ETFs/ETPs listed in the US gathered net inflows of $19.67 Bn in August, bringing net inflows for 2018 to $109.44 Bn, less than the $200.41 Bn in net inflows at this point last year.
Fixed Income ETFs and ETPs listed in the US gathered net inflows of $4.90 Bn in August, growing net inflows for 2018 to $51.50 Bn, less than the $84.34 Bn in net inflows at this point last year.
Commodity ETFs/ETPs listed in the US saw net outflow of $2.59 Bn in August, bringing net outflows for 2018 to $3.55 Bn, greater than the $265 Mn in net outflows at this point last year.
A large proportion of net inflows in August can be attributed to the top 20 ETFs by net new assets, which collectively gathered $26.30 Bn. The iShares Core S&P 500 ETF (IVV US) gathered $6.59 Bn the largest net inflows in August.
Top 20 ETFs by net new assets August 2018: US
Name |
Ticker |
Assets |
ADV |
NNA |
NNA |
iShares Core S&P 500 ETF |
IVV US |
161,885 |
1,058 |
9,981 |
6,587 |
Invesco QQQ Trust |
QQQ US |
73,959 |
6,054 |
4,565 |
3,935 |
Vanguard S&P 500 ETF |
VOO US |
99,863 |
651 |
7,892 |
1,919 |
JPMorgan BetaBuilders Canada ETF |
BBCA US |
1,479 |
(211) |
1,477 |
1,477 |
iShares iBoxx $ High Yield Corporate Bond ETF |
HYG US |
17,229 |
983 |
(288) |
1,476 |
iShares Core MSCI Emerging Markets ETF |
IEMG US |
49,082 |
724 |
10,690 |
1,307 |
Consumer Discretionary Select Sector SPDR Fund |
XLY US |
15,905 |
584 |
608 |
1,195 |
JPMorgan BetaBuilders Europe ETF |
BBEU US |
1,338 |
49 |
1,325 |
925 |
Vanguard Value ETF |
VTV US |
43,764 |
139 |
5,439 |
821 |
VanEck Vectors Gold Miners ETF |
GDX US |
8,173 |
1,089 |
2,426 |
708 |
iShares China Large-Cap ETF |
FXI US |
4,642 |
1,348 |
1,138 |
678 |
iShares Core S&P Mid-Cap ETF |
IJH US |
50,459 |
277 |
2,797 |
643 |
iShares Core MSCI EAFE ETF |
IEFA US |
58,382 |
452 |
18,708 |
640 |
JPMorgan BetaBuilders Developed Asia EX-Japan ETF |
BBAX US |
620 |
(312) |
621 |
621 |
iShares Core S&P Small-Cap ETF |
IJR US |
47,643 |
343 |
4,874 |
599 |
iShares Edge MSCI USA Momentum Factor ETF |
MTUM US |
10,320 |
97 |
3,830 |
573 |
JPMorgan Ultra-Short Income ETF |
JPST US |
2,267 |
53 |
2,155 |
572 |
iShares MSCI USA Minimum Volatility ETF |
USMV US |
16,236 |
92 |
80 |
572 |
Health Care Select Sector SPDR Fund |
XLV US |
18,297 |
587 |
(189) |
527 |
iShares 1-3 Year Treasury Bond ETF |
SHY US |
13,739 |
156 |
2,486 |
524 |
The top 10 ETPs by net new assets collectively gathered $899 Mn by the end of August 2018.
Top 10 ETPs by net new assets August 2018: US
Name |
Ticker |
Assets |
ADV |
NNA |
NNA |
iPath S&P 500 VIX Short-Term Futures |
VXX US |
980 |
1,158 |
(355) |
227 |
VelocityShares Daily 2x VIX Short Term |
TVIX US |
531 |
345 |
537 |
174 |
VelocityShares Daily 3x Inverse Natural Gas |
DGAZ US |
311 |
128 |
84 |
137 |
MicroSectors FANG+ Index 3X Leveraged due January 8, 2038 |
FNGU US |
158 |
6 |
135 |
77 |
MicroSectors FANG Index 2X Leveraged |
FNGO US |
56 |
(0) |
53 |
53 |
iShares Gold Trust |
IAU US |
10,185 |
147 |
927 |
53 |
MicroSectors FANG Index Inverse |
GNAF US |
47 |
(0) |
49 |
49 |
MicroSectors FANG Index 2X Inverse Leveraged |
FNGZ US |
44 |
(0) |
47 |
47 |
Large Cap Growth Index-Linked ETNs due 2028 |
FRLG US |
322 |
4 |
286 |
43 |
Invesco DB US Dollar Index Bullish Fund |
UUP US |
550 |
24 |
(11) |
41 |
Investors have tended to invest in core, market cap and lower cost ETFs in August.
Please contact deborah.fuhr@etfgi.com if you would like to discuss subscribing to any of ETFGI’s research or consulting services.
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About Deborah Fuhr
Previously Deborah Fuhr served as global head of ETF research and implementation strategy and as a managing director at BlackRock/Barclays Global Investors from 2008 – 2011. She also worked as a managing director and head of the investment strategy team at Morgan Stanley in London from 1997 – 2008, and as an associate at Greenwich Associates.
She has been working with investors, ETF, ETP providers, index providers, exchanges, MMs and APs, regulators, trade associations, custodians, law firms, accounting firms around the world since 1997.
ETFGI is honored to count as our research and consulting clients some of the leading firms in the ETF Ecosystem around the world as well as some new entrants and firms that are considering entering the ETF, ETP industry.
Past awards for Ms Fuhr include she was the recipient of the 100 Women in Finance 2017 European Industry Leadership Award, the 2014 William F. Sharpe Lifetime Achievement Award for outstanding contributions to the field of index investing and she named one of the “100 Most Influential Women in Finance” by Financial News over several years, most recently in 2016.
Deborah Fuhr is a founder and board member of Women in ETFs “WE” a not for profit organization to connect, support and inspire Women and Men in the ETF ecosystem. WE has over 4,200 members in chapters around the world. www.womeninetfs.com
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