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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$3.63 Tn in assets, following net inflows of US$28.60 Bn in July, according to ETFGI’s July 2018 US 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 $3.63 Tn at the end July
- Net new assets gathered by ETFs/ETPs listed in the US were $28.60 Bn in July
- Equity products gathered the largest net inflows during July with $18.75 Bn, while commodity ETFs/ETPs experienced the largest net outflows with $1.08 Bn
“Investors favoured equities over fixed income and commodities as equity markets have performed positively in July. The S&P 500 gained 3.72%, international markets ex US were up 1.93% and emerging markets up 2.81%. Investors are still concerned about the impact of trade wars and Brexit,” according to Deborah Fuhr, managing partner and a founder of ETFGI.
At the end of July 2018, the US ETF/ETP industry had 2,174 ETFs/ETPs, with 2,174 listings, assets of $3.63 Tn, from 140 providers listed on 3 exchanges. Due to net inflows and market moves the assets invested in ETFs/ETPs listed in the US increased by 3.09%, from $3.52 Tn in June 2018 to $3.63 Tn.
Growth in US Listed ETF and ETP assets as of the end of July 2018
Equity ETFs/ETPs listed in the US gathered net inflows of $18.75 Bn in July, bringing net inflows for 2018 to $89.77 Bn, less than the $190.11 Bn in net inflows at this point last year.
Fixed Income ETFs and ETPs listed in the US gathered net inflows of $8.10 Bn in July, growing net inflows for 2018 to $46.59 Bn which is less than the $75.64 Bn in net inflows at this point last year.
Commodity ETFs/ETPs listed in the US saw net outflow of $1.08 Bn in July, bringing net outflows for 2018 to $965 Mn, although still less than the $1.58 Bn in net outflows at this point last year.
The majority of net inflows in July can be attributed to the top 20 ETFs by net new assets, which collectively gathered $24.05 Bn. The SPDR S&P 500 ETF Trust (SPY US) gathered $6.54Bn the largest net inflows in July.
Top 20 ETFs by net new assets July 2018: US
| Name | Ticker | Assets (US$ Mn) Jul-18 |
ADV (US$ Mn) Jul-18 |
NNA (US$ Mn) YTD 2018 |
NNA (US$ Mn) Jul-18 |
|||
| SPDR S&P 500 ETF Trust | SPY US | 273,642 | 17,676 | (9,906) | 6,540 | |||
| JPMorgan BetaBuilders Japan ETF | BBJP US | 1,746 | 85 | 1,726 | 1,716 | |||
| Vanguard Value ETF | VTV US | 42,083 | 209 | 4,618 | 1,540 | |||
| iShares iBoxx $ High Yield Corporate Bond ETF | HYG US | 15,706 | 970 | (1,764) | 1,513 | |||
| iShares Core MSCI Emerging Markets ETF | IEMG US | 49,112 | 721 | 9,383 | 1,411 | |||
| Schwab US Large-Cap ETF | SCHX US | 14,216 | 106 | 2,080 | 1,075 | |||
| Vanguard Total Stock Market ETF | VTI US | 101,802 | 316 | 4,401 | 1,057 | |||
| Health Care Select Sector SPDR Fund | XLV US | 17,015 | 577 | (716) | 942 | |||
| iShares J.P. Morgan USD Emerging Markets Bond ETF | EMB US | 13,662 | 302 | 2,158 | 933 | |||
| iShares iBoxx $ Investment Grade Corp Bond ETF | LQD US | 34,347 | 583 | (2,983) | 873 | |||
| Vanguard Real Estate ETF | VNQ US | 32,204 | 440 | (1,903) | 813 | |||
| Industrial Select Sector SPDR Fund | XLI US | 13,400 | 929 | 781 | 769 | |||
| iShares Core S&P Mid-Cap ETF | IJH US | 48,403 | 246 | 2,154 | 727 | |||
| iShares Core U.S. Aggregate Bond ETF | AGG US | 55,904 | 352 | 4,499 | 700 | |||
| iShares Core S&P Small-Cap ETF | IJR US | 44,992 | 341 | 4,275 | 648 | |||
| Vanguard S&P 500 ETF | VOO US | 94,799 | 585 | 5,973 | 644 | |||
| SPDR Portfolio S&P 500 Growth ETF | SPYG US | 3,295 | 54 | 1,897 | 557 | |||
| Technology Select Sector SPDR Fund | XLK US | 22,549 | 904 | 1,279 | 533 | |||
| iShares Short Maturity Bond ETF | NEAR US | 4,382 | 101 | 1,501 | 533 | |||
| VanEck Vectors Gold Miners ETF | GDX US | 8,651 | 826 | 1,718 | 527 |
Similarly, the top 10 ETPs by net new assets collectively gathered $1.18 Bn by the end of July 2018.
Top 10 ETPs by net new assets July 2018: US
| Name | Ticker | Assets (US$ Mn) Jul-18 |
ADV (US$ Mn) Jul-18 |
NNA (US$ Mn) YTD 2018 |
NNA (US$ Mn) Jul-18 |
|
| ProShares Ultra VIX Short-Term Futures | UVXY US | 632.3 | 275.5 | 119.7 | 398.9 | |
| VelocityShares Daily 3x Long Natural Gas ETN | UGAZ US | 456.3 | 123.4 | (576.6) | 179.5 | |
| iPath S&P 500 VIX Short-Term Futures ETN | VXX US | 811.6 | 1,026.2 | (581.8) | 121.9 | |
| iShares Silver Trust | SLV US | 5,081 | 122.5 | 139.4 | 111.8 | |
| Invesco DB Oil Fund | DBO US | 459.3 | 13.1 | 44.7 | 80.7 | |
| United States Natural Gas Fund LP | UNG US | 394.5 | 42.9 | (299.6) | 70.2 | |
| SPDR Gold MiniShares Trust | GLDM US | 87.9 | 4.6 | 64.7 | 62.2 | |
| VelocityShares 3x Silver ETN | USLV US | 361.7 | 32.9 | 144.6 | 58.4 | |
| ETFS Physical Platinum Shares | PPLT US | 477.5 | 10.3 | (38.9) | 51.7 | |
| Large Cap Growth Index-Linked ETN due 2028 | FRLG US | 251.8 | 3.7 | 243.2 | 47.6 | |
Investors have tended to invest in core, market cap and lower cost ETFs in July.
