ETFGI reports ETFs and ETPs listed in the Canada gathered net inflows of $553 Mn during September
LONDON — October 22, 2018 — ETFGI, a leading independent research and consultancy firm on trends in the global ETF/ETP ecosystem, reported today that ETFs and ETPs listed in Canada attracted net inflows of US$553 Mn during September. Total assets invested in Canadian products stood at US$127 Bn by the end of September, down 2.95% from the record high of $131 Bn reached at the end of August, according to ETFGI’s August 2018 Canada ETF and ETP industry landscape insights report, an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)
Highlights
- ETF/ETP assets decreased by 2.95% to $127 Bn at the end of September.
- ETFs and ETPs listed in Canada experienced net inflows of $553 Mn during September.
- Fixed income ETFs/ETPs gathered the largest net inflows during September, while Equity ETFs/ETPs saw net outflows.
“Developed markets were broadly up during September following positive economic data from the US, Japan and Eurozone, despite the US-China trade dispute and on-going political tension in Europe. Developed Markets ex-US gained 0.68% during the month while the S&P 500’s winning streak tapered off, gaining only 0.57%, with mid to small cap US equities closing down. Developing markets downward trend continued, with EM markets down 1.37% and Frontier markets down 0.18%, bringing year to date declines to 8.08% and 7.56%, respectively.” according to Deborah Fuhr, managing partner and a founder of ETFGI.
At the end of September 2018, the Canadian ETF/ETP industry had 641 ETFs/ETPs, with 768 listings, assets of $127 Bn, from 30 providers listed on 2 exchanges. Due to net inflows and market moves the assets invested in ETFs/ETPs listed in Canada decreased by 2.95% during the month, from $131 Bn at the end of August 2018, and have increased by 9% year-to-date from $117 Bn at the end of 2017.
Canadian ETF and ETP asset growth as of the end of September 2018
Fixed income ETFs/ETPs listed in Canada gathered net inflows of $247 Mn in September, bringing net inflows for 2018 to $721 Mn, substantially less than the $4.11 Bn in net inflows at this point last year.
Equity based ETFs and ETPs saw net outflows of $126 Mn in September, a sharp reversal from the previous months $1.28 Bn net inflow. September flows bring the 2018 year-to-date figure for equity based products to $5.34 Bn, still greater than the $5.17 Bn in net inflows at this point this year.
Commodity ETFs/ETPs listed in Canada saw net inflows of $2.32 Mn in September, bringing net outflows for $2.57 Mn, again substantially less than the $41.51 Mn in net inflows at this point last year.
A high proportion of net inflows during September can be attributed to the top 20 ETFs by net new assets, which collectively gathered $743.57 Mn. The Purpose High Interest Savings ETF (PSA CN) gathered $117 Mn, the largest net inflow in September.
Top 20 ETFs by net new assets September 2018: Canada
| Name | Ticker | Assets (US$ Mn) Sep-18 |
ADV (US$ Mn) Sep-18 |
NNA (US$ Mn) YTD 2018 |
NNA (US$ Mn) Sep-18 |
| Purpose High Interest Savings ETF | PSA CN | 707 | 39 | 268 | 117 |
| Invesco Ultra DLUX Long Term Govt Bond Index | PGL CN | 430 | 4 | 132 | 92 |
| RBC Target 2020 Corporate Bond Index ETF | RQH CN | 138 | 3 | 38 | 49 |
| Horizon S&P/TSX 60 Index ETF | HXT CN | 1,598 | 18 | 222 | 47 |
| Vanguard S&P 500 Index ETF | VFV CN | 1,536 | 6 | 262 | 40 |
| Vanguard Canadian Aggregate Bond Index ETF | VAB CN | 1,320 | 3 | 328 | 38 |
| BMO S&P/TSX Capped Composite Index ETF | ZCN CN | 3,085 | 4 | 627 | 37 |
| Evolve Active Canadian Preferred Share ETF | DIVS CN | 116 | 2 | 110 | 35 |
| Mackenzie Floating Rate Income ETF | MFT CN | 523 | 2 | 305 | 32 |
| iShares Core S&P/TSX Capped Composite Index ETF | XIC CN | 3,129 | 15 | (116) | 32 |
| BMO Laddered Preferred Share Index ETF | ZPR CN | 1,682 | 5 | 8 | 32 |
| Vanguard U.S. Total Market Index ETF | VUN CN | 1,176 | 4 | 262 | 30 |
| BMO Ultra Short-Term Bond ETF Acc | ZST/L CN | 85 | 1 | 64 | 25 |
| Vanguard Growth ETF Portfolio | VGRO CN | 317 | 2 | 311 | 25 |
| Vanguard Balanced Etf Portfolio | VBAL CN | 217 | 2 | 214 | 25 |
| Vanguard FTSE Canada All Cap Index ETF | VCN CN | 1,257 | 3 | 376 | 23 |
| Dynamic Ishares Active Global Dividend ETF | DXG CN | 123 | 2 | 90 | 22 |
| Horizons S&P 500 Index ETF | HXS CN | 609 | 1 | 22 | 22 |
| BMO Aggregate Bond Index ETF | ZAG CN | 2,767 | 5 | 248 | 22 |
| Purpose High Interest Savings ETF | PSA CN | 707 | 39 | 268 | 117 |
Investors have tended to invest in Domestic & US, Fixed income ETFs during September 2018.
Please contact deborah.fuhr@etfgi.com if you would like to discuss the cost to subscribe 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 4,100 members in chapters around the world.
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