ETFGI reports that assets invested in ETFs and ETPs listed in US reached a new record high of US$4.28 trillion at the end of November 2019

LONDON— December 19, 2019 — ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs/ETPs ecosystem, reported today that ETFs and ETPs listed in US gained net inflows of US$50.94 billion in November, bringing year-to-date net inflows to US$274.04 billion. Assets invested in the US ETFs/ETPs industry have increased by 3.1%, from US$4.15 trillion at the end of October, to $4.28 trillion, according to ETFGI's November 2019 US ETFs and ETPs industry landscape insights report, an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)

Highlights

  • Assets invested in the US ETF/ETP industry reached a new high record of $4.28 trillion.

  • Assets are up 26.2% year to date which is greater than the 20.2% CAGR over the past 10 years. 
  • ETFs/ETPs listed in US attracted $50.94 billion in net inflows in November - equity products gathered $40.38 Bn while fixed income gathered $8.63 Bn.
  • Year-to-date net inflows of $274.04 billion are the 2ndhighest behind November 2017 with $468.37 billion 


“During November the S&P 500 gained 3.6% as global markets were resistant to fears of inflation and showed optimism on the trade talks.  Global equities as measured by the S&P Global BMI were up 2.5% and the 
S&P Emerging BMI gained 0.1%.” According to Deborah Fuhr, managing partner, founder and owner of ETFGI.


Growth in US ETF and ETP assets as of the end of November 2019

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At the end of November 2019, the US ETF/ETP industry had 2,346 ETFs/ETPs, from 151 providers on 3 exchanges.

In November 2019, ETFs/ETPs gathered net inflows of $50.94 billion. Equity ETFs/ETPs listed in US gathered net inflows of $40.38 billion in November, bringing YTD net inflows for 2019 to $124.80 billion, less than the 
$173.07 billion in net inflows Equity products had attracted for the corresponding period to November 2018.  
Fixed Income ETFs/ETPs listed in US attracted net inflows of $8.63 billion in November, bringing YTD net inflows for 2019 to $117.45 billion, substantially more than the $61.19 billion in net inflows for the corresponding period to November 2018. Commodity ETFs/ETPs reported outflows of $1.34 billion, bringing the YTD net inflows to 
$8.38 billion for 2019, which is significantly greater than the $2.84 billion in net outflows for the corresponding period to November 2018.

Substantial inflows can be attributed to the top 20 ETFs by net new assets, which collectively gathered $28.04 billion in November, the SPDR S&P 500 ETF Trust (SPY US)gathered $6.64 billion alone.

Top 20 ETFs by net new assets November 2019: US

Name

Ticker

Assets
(US$ Mn)
 Nov-19

NNA
(US$ Mn)
 YTD-19

NNA
(US$ Mn)
 Nov-19

SPDR S&P 500 ETF Trust

SPY US

  291,129.85 

  (8,679.79)

   6,636.95 

iShares Core MSCI EAFE ETF

IEFA US

   71,431.87 

  10,205.88 

   2,724.60 

Vanguard S&P 500 ETF

VOO US

  126,904.64 

  12,917.30 

   1,882.19 

Invesco QQQ Trust

QQQ US

   82,859.08 

   1,910.65 

   1,440.77 

Vanguard High Dividend Yield Index Fund

VYM US

   28,692.65 

   3,357.14 

   1,263.48 

iShares MSCI Japan ETF

EWJ US

   14,158.93 

  (2,866.97)

   1,203.58 

iShares Edge MSCI USA Quality Factor ETF

QUAL US

   15,284.55 

   5,954.87 

   1,196.64 

iShares Core U.S. Aggregate Bond ETF

AGG US

   67,158.26 

   6,399.52 

   1,070.56 

iShares Core S&P Small-Cap ETF

IJR US

   46,764.54 

   2,946.45 

   1,070.10 

iShares MSCI USA Size Factor ETF

SIZE US

     1,454.55 

   1,133.31 

   1,022.54 

Financial Select Sector SPDR Fund

XLF US

   26,436.98 

  (1,874.51)

      943.87 

iShares Core MSCI Emerging Markets ETF

IEMG US

   57,147.59 

   3,757.18 

      930.10 

Vanguard Total Stock Market ETF

VTI US

  132,081.71 

  13,578.85 

      919.61 

Technology Select Sector SPDR Fund

XLK US

   25,581.41 

   1,147.89 

      911.02 

Vanguard Total Bond Market ETF

BND US

   47,473.97 

   8,589.77 

      897.98 

Vanguard Value ETF

VTV US

   54,503.44 

   4,383.09 

      867.18 

Vanguard Total International Stock Index Fund ETF

VXUS US

   17,321.75 

   5,520.63 

      857.90 

Vanguard FTSE Europe ETF

VGK US

   14,013.19 

     (730.09)

      750.41 

iShares MBS ETF

MBB US

   20,137.17 

   7,455.57 

      733.94 

iShares MSCI Emerging Markets ETF

EEM US

   26,463.12 

  (4,610.49)

      720.03 

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The top 10 ETPs by net new assets collectively gathered $1.50 billion in November. The Velocity Shares Daily 3x Long Natural Gas ETN (UGAZ US)gathered $472 million alone.

Top 10 ETPs by net new assets November 2019:US

Name

Ticker

Assets
(US$ Mn)
 Nov
-19

NNA 
(US$ Mn) 
YTD 2019

NNA 
(US$ Mn) 

Nov-19

VelocityShares Daily 3x Long Natural Gas ETN

UGAZ US

923.70

1316.83

471.88

VelocityShares Daily 2x VIX Short Term ETN

TVIX US

891.77

2,004.69

206.23

iPath Series B S&P 500 VIX Short-Term Futures ETN

VXX US

928.17

1,264.57

169.47

ProShares Ultra VIX Short-Term Futures

UVXY US

579.45

1,001.86

158.60

C-Tracks Exchange-Traded Notes Miller/Howard Strategic Dividend Reinvestor

DIVC US

143.18

144.54

144.54

C-Tracks Miller/Howard MLP Fundamental Index ETN

MLPC US

81.10

82.53

82.53

VelocityShares 3x Inverse Crude Oil ETN

DWT US

327.69

245.55

79.49

iShares Gold Trust

IAU US

16,828.56

3,730.21

77.53

ProShares VIX Short-Term Futures ETF

VIXY US

297.35

346.63

59.37

United States Natural Gas Fund LP

UNG US

314.57

83.96

51.73

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 Investors have tended to invest in core Equity and core Fixed Income ETFs.

 

Contact [email protected]if you have any questions or comments on the press release or ETFGI events, research or consulting services. 

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Register now to now to join the discussion with leading ETF issuers, investors, the top brokerage firms, regulators and representatives from stock exchanges, law firms and other firms at the ETFGI Global ETFs Insights Summits 2020 - free registration and CPD credits are offered to buyside investors and financial advisors:

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ETF TV is a new show which provides insights into the use, trading, regulatory and product development trends for exchange traded funds ETFs and exchange traded products ETPs.  Go to www.ETFtv.net to view

Episode 1 ETF TV views from industry leaders in Europe
Episode 2 ETF TV Tara O'Reilly on the regulatory environment for ETFs 
Episode 3 ETF TV Dan Draper of Invesco picks out the key future trends to watch in the ETF market 
Episode 4 ETF TV Dr Xiaolin Chen of KraneShares explains ETF use in institutional investment and for access to China
Episode 5 ETF TV ETF market structure and trading protocols are evolving approaches to investment Tom Digby, Head of EMEA ETF Client Trading at Invesco
Episode 6 ETF TV Ciarán Fitzpatrick, Managing Director, Head of ETF Servicing Europe at State Street discuss generating alpha with ETFs  
Episode 7 of ETF TV features Eric M. Pollackov Global Head of ETF Capital Markets at Invesco sharing his views on active and passive investing being a collaboration of capabilities, the need for education and innovations developing in non-transparent active and Crypto ETPs
Episode 8 of ETF TV features Shaun Baskett, Director Index Sales at Cboe Europe sharing his views on the role of regulation, trade transparency and liquidity for ETFs
Episode 9 of ETF TV features Sergey Dolomanov, Partner at WILLIAM FRY sharing his views on the value of ETFs being the delivery of better value and choice for investors and the development of active and ESG strategies with Hamish McArthur of ETF TV and Deborah Fuhr of ETFGI 
Episode 10 of ETF TV features Jim Goldie, head of ETF Capital Markets (EMEA) at Invesco, sharing his views on the growth in the use of fixed income ETFs, how they can have tighter spreads than the index and provide cost efficient execution, with Hamish McArthur of ETF TV
Episode 11 of ETF TV features Elena Philipova, Global head of ESG proposition at Refinitiv, discussing how to define sustainable investment opportunities and the changing landscape of ESG application within the investment industry
Episode 12 of ETF TV part 2 of the Difference in US and European approaches to ESG should not inhibit growth interview with Elena Philipova, global head of ESG proposition at Refinitiv with Deborah Fuhr, Managing Partner of ETFGI and co-founder of ETF TV
Episode 13 of ETF TV   features Tom Stephens, head of international ETF Capital Markets at JP Morgan Asset Management, Active ETFs will be the next level.  The use of fixed income exchange-traded funds for long term investment as well as for shorter term liquidity management and portfolio transitions
Episode 14 of ETF TV episode features Manuela Sperandeo, EMEA head of smart beta, sustainable and thematic ETFs at BlackRock explains how to define the category, assess it in the context of investment strategy, and to implement it in practicality

Episode 15 of ETF TV features Ivan Gilmore, head of exchange-traded products and global product development at the London Stock Exchange sees innovation in trading protocols and ESG products are transforming the ETF landscape, plus his thoughts on active vs passive and governance.
Episode 16 of ETF TV features Deborah Fuhr and Dan Barnes - The ETF Rule in the US will lead to many new issues in the market across 2020; the ‘non-transparent active’ ETFs – in reality as transparent as mutual funds, and better described as periodically-disclosed ETFs, will increase in number. New smart-beta strategies and launches of funds based on existing smart-beta strategies will also grow.

 

Please contact us if you are interested in sponsoring a mini segment or a full episode.

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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 the ETF.com’s 2018’s Lifetime Achievement Award, 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” the first women’s group for the ETF industry. Founded in January 2014, WE is a non-profit organization that brings together over 5,300 members, including women and men, in chapters in major financial centers around the world to CONNECT, SUPPORT and INSPIRE. WE achieves this by organizing events at our chapters globally that support our goals of education, networking, philanthropy, and idea sharing across the industry and beyond. For more information, visit: 
www.womeninetfs.com

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Managing Partner, Founder 
ETFGI 
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