ETFGI reports ETFs industry in Canada gathered net inflows of US$2.12 billion during May

LONDON — June 14, 2023 — ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs ecosystem, reported today that the ETFs industry in Canada gathered net inflows of US$2.12 billion during May, bringing year-to-date net inflows to US$12.80 billion. Year-to-date, assets have increased 8.5%, going from US$250 Bn at the end of 2022, to US$271 Bn, according to ETFGI's May 2023 Canadian ETFs and ETPs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)

Highlights

  • ETFs industry in Canada gathered net inflows of $2.12 Bn in May.
  • YTD net inflows of $12.80 Bn in 2023 are the fourth highest on record, after YTD net inflows of $22.22 Bn in 2021, YTD net inflows of $15.76 Bn in 2022, and YTD net inflows of $14.42 Bn in 2020.
  • 11th month of consecutive net inflows.
  • Assets of $271 Bn invested in ETFs industry in Canada at the end of May.
  • Assets have increased 8.5 % YTD in 2023, going from $250 Bn at the end of 2022, to $271 Bn.

“The S&P 500 increased by 0.43% in May and is up by 9.65% YTD in 2023. Developed markets excluding the US declined by 4.26% in May but are up 4.41% in 2023. Belgium (down 11.16%) and Portugal (down 10.80%) saw the largest decreases amongst the developed markets in May. Emerging markets declined by 2.30% during May and are down 0.70% YTD in 2023. South Africa (down 14.46%) and Czech Republic (down 13.52%) saw the largest decreases amongst emerging markets in May.” According to Deborah Fuhr, managing partner, founder, and owner of ETFGI.

Growth in Canadian ETF assets as of the end of May 2023

At the end of May 2023, the ETFs industry in Canada had 1,074 ETFs, with 1,352 listings, assets of $271 Bn, from 41 providers listed on 2 exchanges.

During May, ETFs gathered net inflows of $2.12 Bn. Equity ETFs reported net inflows of $298 Mn during May, bringing YTD net inflows to $1.92 Bn, much lower than the $8.99 Bn in net inflows YTD in 2022. Fixed income ETFs gathered net inflows of $427 Mn during May, bringing YTD net inflows to $2.97 Bn, higher than the $1.19 Bn in net inflows YTD in May 2022.  Active ETFs attracted net inflows of $1.43 Bn during  the month, gathering net inflows YTD of $7.85 Bn, higher than the $4.79 Bn in net inflows YTD in 2022. 

Substantial inflows can be attributed to the top 20 ETFs by net new assets, which collectively gathered $2.32 Bn during May. iShares Core MSCI Emerging Markets IMI Index ETF ETF (XEC CN) gathered $284.61 Mn, the largest individual net inflow.

Top 20 ETFs by net new assets May 2023: Canada

Name

Ticker

Assets
($ Mn)
May-23

NNA
($ Mn)
 YTD-23

NNA
($ Mn)
May-23

iShares Core MSCI Emerging Markets IMI Index ETF

XEC CN

                    960.56

        288.46

284.61

BMO Equal Weight Banks Index ETF

ZEB CN

                 2,807.89

        585.79

240.25

CI High Interest Savings ETF

CSAV CN

                 5,404.24

     1,508.73

209.05

iShares S&P/TSX 60 Index Fund

XIU CN

                 7,610.20

      (214.70)

156.57

NBI Sustainable Canadian Bond ETF

NSCB CN

                    606.78

        349.41

146.16

BMO Japan Index ETF

ZJPN CN

                    448.87

        176.54

145.99

Horizons 0-3 Month T-Bill ETF

CBIL CN

                    176.78

        164.98

129.98

Horizons High Interest Savings ETF

CASH CN

                 1,894.17

        847.85

120.78

iShares Core Canadian Universe Bond Index ETF

XBB CN

                 3,707.62

          88.53

101.46

BMO Aggregate Bond Index ETF

ZAG CN

                 4,688.08

      (161.15)

94.30

Manulife Smart International Dividend ETF

IDIV/B CN

                    103.59

          95.76

91.43

TD S&P/TSX Capped Composite Index ETF

TTP CN

                    991.71

        278.58

90.13

TD Canadian Long Term Federal Bond ETF

TCLB CN

                 1,313.01

        334.10

77.69

BMO Short Corporate Bond Index ETF 

ZCS CN

                 1,008.52

          75.66

73.57

CI WisdomTree Japan Equity Index ETF

JAPN CN

                    452.30

        125.81

73.01

iShares S&P/TSX  Capped Energy Index ETF

XEG CN

                 1,321.23

        (70.29)

67.23

Horizons 0-3 Month US T-Bill ETF

UBIL/U CN

                    131.24

        102.41

63.61

Purpose High Interest Savings Fund

PSA CN

                 2,771.98

        (16.64)

53.93

BMO Money Market Fund

ZMMK CN

                    454.08

        110.96

52.62

Vanguard S&P 500 Index ETF

VFV CN

                 5,587.35

        205.72

51.92

Investors have tended to invest in Active ETFs during May.

Contact deborah.fuhr@etfgi.com if you have any questions or comments on the press release or ETFGI events, research or consulting services.

 

Registration is open for our 5th Annual ETFGI Global ETFs Insights Summit - Canada, in person at BLG’s office in Toronto on November 29th, and virtually on November 30th.

The summit is designed to provide the opportunity for traders, portfolio managers, and advisors at buyside institutional investor and financial advisors to examine how ETFs are being selected, used and traded by institutional investors, financial advisors and by retail investors. Hear about the most current regulatory updates from IIROC, the SEC and IOSCO. Updates on index and product trends: active, fixed income, ESG, Thematic, bitcoin, crypto, and trading developments that are impacting investors in Canada.

It's a unique opportunity for attendees to network, learn about the latest trends and innovations in the ETF market, and engage in meaningful discussions on the key issues shaping the industry. 

Nov 29 - day 1 - In person at BLG’s office in Toronto. CE credits and free for IFAs and institutional investors – spaces are allocated on a first-come basis as spaces are limited. All sessions will be recorded. Attendees will receive access to virtual event content on day 2.
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 CPD educational credits are offered to buy side institutional investors and financial advisors.
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If you are interested in sponsoring or speaking at any of our upcoming events or have any questions please contact us deborah.fuhr@etfgi.com and margareta.hricova@etfgi.com.

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Speakers in 2022 included:
 
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Debbie and Margareta

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Managing Partner, Founder 
ETFGI 
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