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$3.71 Tn in assets, following net inflows of US$24.71 Bn in August, according to ETFGI’s August 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 $3.71 Tn at the end August.
- Net new assets gathered by ETFs/ETPs listed in the US were $24.71 Bn in August.
- Equity products gathered the largest net inflows during August with $19.67 Bn, while commodity ETFs/ETPs experienced the largest net outflows with $2.59 Bn.
“On August 22, 2018 the S&P 500 marked its longest bull market - 3,453 days, without a bear market - a 20% drop from the index’s 52-week high. August was a strong month for U.S. equities with economic strength and strong corporate earnings pushing the S&P 500 to reach record highs and gain 3.26% during the month and up 9.94% year to date. Most non-US markets suffered declines during August due to investors’ concerns over trade tensions, Brexit, currency crises and a fear of contagion. Developed markets ex US declined 1.44% in August while up 0.46% YTD, EM markets were down 3.51% and are down 0.81% YTD and Frontier markets were down 4.50% and are down 1.66% YTD.” according to Deborah Fuhr, managing partner and a founder of ETFGI.
At the end of August 2018, the US ETF/ETP industry had 2,173 ETFs/ETPs, assets of $3.71 Tn, from 143 providers listed on 3 exchanges. Due to net inflows and market moves the assets invested in ETFs/ETPs listed in the US increased by 2.11%, from $3.63 Tn in July 2018 to $3.71 Tn.
.
Growth in US Listed ETF and ETP assets as of the end of August 2018
Equity ETFs/ETPs listed in the US gathered net inflows of $19.67 Bn in August, bringing net inflows for 2018 to $109.44 Bn, less than the $200.41 Bn in net inflows at this point last year.
Fixed Income ETFs and ETPs listed in the US gathered net inflows of $4.90 Bn in August, growing net inflows for 2018 to $51.50 Bn, less than the $84.34 Bn in net inflows at this point last year.
Commodity ETFs/ETPs listed in the US saw net outflow of $2.59 Bn in August, bringing net outflows for 2018 to $3.55 Bn, greater than the $265 Mn in net outflows at this point last year.
A large proportion of net inflows in August can be attributed to the top 20 ETFs by net new assets, which collectively gathered $26.30 Bn. The iShares Core S&P 500 ETF (IVV US) gathered $6.59 Bn the largest net inflows in August.
Top 20 ETFs by net new assets August 2018: US
| Name | Ticker | Assets (US$ Mn) Aug-18 |
ADV (US$ Mn) Aug-18 |
NNA (US$ Mn) YTD 2018 |
NNA (US$ Mn) Aug-18 |
| iShares Core S&P 500 ETF | IVV US | 161,885 | 1,058 | 9,981 | 6,587 |
| Invesco QQQ Trust | QQQ US | 73,959 | 6,054 | 4,565 | 3,935 |
| Vanguard S&P 500 ETF | VOO US | 99,863 | 651 | 7,892 | 1,919 |
| JPMorgan BetaBuilders Canada ETF | BBCA US | 1,479 | (211) | 1,477 | 1,477 |
| iShares iBoxx $ High Yield Corporate Bond ETF | HYG US | 17,229 | 983 | (288) | 1,476 |
| iShares Core MSCI Emerging Markets ETF | IEMG US | 49,082 | 724 | 10,690 | 1,307 |
| Consumer Discretionary Select Sector SPDR Fund | XLY US | 15,905 | 584 | 608 | 1,195 |
| JPMorgan BetaBuilders Europe ETF | BBEU US | 1,338 | 49 | 1,325 | 925 |
| Vanguard Value ETF | VTV US | 43,764 | 139 | 5,439 | 821 |
| VanEck Vectors Gold Miners ETF | GDX US | 8,173 | 1,089 | 2,426 | 708 |
| iShares China Large-Cap ETF | FXI US | 4,642 | 1,348 | 1,138 | 678 |
| iShares Core S&P Mid-Cap ETF | IJH US | 50,459 | 277 | 2,797 | 643 |
| iShares Core MSCI EAFE ETF | IEFA US | 58,382 | 452 | 18,708 | 640 |
| JPMorgan BetaBuilders Developed Asia EX-Japan ETF | BBAX US | 620 | (312) | 621 | 621 |
| iShares Core S&P Small-Cap ETF | IJR US | 47,643 | 343 | 4,874 | 599 |
| iShares Edge MSCI USA Momentum Factor ETF | MTUM US | 10,320 | 97 | 3,830 | 573 |
| JPMorgan Ultra-Short Income ETF | JPST US | 2,267 | 53 | 2,155 | 572 |
| iShares MSCI USA Minimum Volatility ETF | USMV US | 16,236 | 92 | 80 | 572 |
| Health Care Select Sector SPDR Fund | XLV US | 18,297 | 587 | (189) | 527 |
| iShares 1-3 Year Treasury Bond ETF | SHY US | 13,739 | 156 | 2,486 | 524 |
The top 10 ETPs by net new assets collectively gathered $899 Mn by the end of August 2018.
Top 10 ETPs by net new assets August 2018: US
| Name | Ticker | Assets (US$ Mn) Aug-18 |
ADV (US$ Mn) Aug-18 |
NNA (US$ Mn) YTD 2018 |
NNA (US$ Mn) Aug-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+ Index 3X Leveraged due January 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 Leveraged | 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, market cap and lower cost ETFs in August.
