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.)
- 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
|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
|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.
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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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