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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$3.73 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.)
Highlights
- 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 $5.01 Bn, the largest net inflows in September.
Top 20 ETFs by net new assets September 2018: US
| Name | Ticker | Assets (US$ Mn) Sep-18 |
ADV (US$ Mn) Sep-18 |
NNA (US$ Mn) YTD 2018 |
NNA (US$ Mn) Sep-18 |
| 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 $944.29 Mn by the end of September 2018.
Top 10 ETPs by net new assets September 2018: US
| Name | Ticker | Assets (US$ Mn) Sep-18 |
ADV (US$ Mn) Sep-18 |
NNA (US$ Mn) YTD 2018 |
NNA (US$ Mn) Sep-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+ 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.
