ETFGI reports assets invested in ETFs and ETPs listed in the US reached a new high of US$3.73 trillion at the end of September 2018

LONDON — October 22, 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$3.73 Tn in assets, following net inflows of US$36.2 Bn in September, according to ETFGI’s September 2018 Global 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 $3.73 Tn at the end September.
  • Net new assets gathered by ETFs/ETPs listed in the US were $36.2 Bn in September.
  • Equity products gathered the largest net inflows during September with $28.5 Bn, while commodity ETFs/ETPs experienced the greatest net outflows with $281 Mn.

 
“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 US ETF/ETP industry had 2,188 ETFs/ETPs, assets of $3.73 Tn, from 144 providers listed on 3 exchanges. Due to net inflows and market moves the assets invested in ETFs/ETPs listed in the US increased by 0.54%, from $3.71 Tn in August 2018 to $3.73 Tn.
 
Growth in US Listed ETF and ETP assets as of the end of September 2018



Equity ETFs/ETPs listed in the US gathered net inflows of $28.5 Bn in September, bringing net inflows for 2018 to $137.97 Bn, less than the $223.2 Bn in net inflows at this point last year. 

Fixed Income ETFs and ETPs listed in the US gathered net inflows of $4.66 Bn in

September, growing net inflows for 2018 to $56.16 Bn, less than the $94.7 Bn in net inflows at this point last year.  

Commodity ETFs/ETPs listed in the US saw net outflow of $281 Mn in September, bringing net outflows for 2018 to $3.84 Bn, greater than the $1.93 Bn in net inflows at this point last year.

A large proportion of net inflows in September can be attributed to the top 20 ETFs by net new assets, which collectively gathered $25.64 Bn. The SPDR S&P 500 ETF Trust (SPY US) gathered $5.01 Bn, the largest net inflows in September. 

Top 20 ETFs by net new assets September 2018: US
 

Name Ticker Assets
(US$ Mn)
 Sep-18
ADV
(US$ Mn)
Sep-18
NNA
(US$ Mn)
YTD 2018
NNA
(US$ Mn)
Sep-18
SPDR S&P 500 ETF Trust SPY US 279,360 16,975 (13,065) 5,009
Vanguard S&P 500 ETF VOO US 104,429 619 12,435 4,543
iShares Russell 2000 ETF IWM US 49,840 2,664 3,172 2,490
iShares 20+ Year Treasury Bond ETF TLT US 9,182 891 2,639 1,652
Communication Services Select Sector SPDR Fund XLC US 2,035 103 2,031 1,526
iShares Core MSCI EAFE ETF IEFA US 59,977 399 19,911 1,202
Vanguard Total Stock Market ETF VTI US 105,500 297 5,974 1,147
Health Care Select Sector SPDR Fund XLV US 19,632 577 672 861
Vanguard FTSE Developed Markets ETF VEA US 71,267 299 5,494 823
First Trust NYSE Arca Biotechnology Index Fund FBT US 3,122 85 1,519 782
iShares J.P. Morgan USD EM Bond ETF EMB US 14,522 347 3,185 772
Vanguard Mid-Cap ETF VO US 25,308 54 1,990 682
iShares Broad USD Investment Grade Corp Bond USIG US 2,171 36 708 670
iShares iBoxx $ Investment Grade Corp Bond ETF LQD US 33,955 675 (3,146) 666
SPDR S&P MidCap 400 ETF Trust MDY US 21,467 312 (249) 601
iShares Core S&P 500 ETF IVV US 162,864 933 10,562 581
iShares MSCI USA Minimum Volatility ETF USMV US 16,932 86 650 570
iShares Core S&P Small-Cap ETF IJR US 46,539 300 5,418 545
Invesco QQQ Trust QQQ US 74,104 5,639 5,081 515
SPDR S&P 500 ETF Trust SHY US 279,360 16,975 (13,065) 5,009


 
The top 10 ETPs by net new assets collectively gathered $944.29 Mn by the end of September 2018. 

Top 10 ETPs by net new assets September 2018: US

Name        Ticker Assets
(US$ Mn)
 Sep-18
ADV
(US$ Mn)
Sep-18
NNA
(US$ Mn)
YTD 2018
NNA
(US$ Mn)
Sep-18
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+ 3X Lev due Jan 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 Lev 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, large cap, lower cost ETFs in September.
 
Please contact [email protected] if you would like to discuss the cost to subscribe to any of ETFGI’s research or consulting services. 


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The information contained herein is proprietary. The media is welcome to use our information and ideas, provided that the following sourcing is included: ETFGI is a leading independent research and consultancy firm on trends in the global ETF/ETP ecosystem, based in London, England. Deborah Fuhr, Managing Partner, co-founder, ETFGI website www.etfgi.com
 
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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. 

Contact: 
Deborah Fuhr 
Managing Partner 
ETFGI 
Mobile: +44 777 5823 111 
Email: [email protected] 
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