ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs ecosystem, reported today that assets invested in the ETFs industry in the United States reached a new record high of US$9.00 trillion at the end of May. The ETFs industry in the US reported net inflows of US$90.57 billion during May, bringing year-to-date net inflows to US$358.17 billion, according to ETFGI's May 2024 US 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
- Assets invested in the US ETFs industry reached a record of $9.00 Tn at the end of May beating the previous record of $8.87 Tn at the end of March 2024.
- Assets increased 10.9% YTD in 2024, going from $8.11 Tn at end of 2023 to $9.00 Tn.
- Net inflows of $90.57 Bn in May 2024.
- YTD net inflows of $358.17 Bn are the second highest on record, $399.10 Bn is the highest YTD net inflows gathered in 2021, the third highest recorded YTD net inflows of $263.44 Bn was in 2022.
- 25th month of consecutive net inflows.
“The S&P 500 index increased by 4.96% in May and is up by 11.30% YTD in 2024. The developed markets excluding the US index increased by 3.62% in May and is up 6.09% YTD in 2024. Norway (up 10.84%) and Portugal (up 8.72%) saw the largest increases amongst the developed markets in May. The emerging markets index increased by 1.17% during May and is up 4.97% YTD in 2024. Egypt (up 11.82%) and Czech Republic (up 9.44%) saw the largest increases amongst emerging markets in May,” according to Deborah Fuhr, managing partner, founder, and owner of ETFGI.
Asset growth in the ETFs industry in the United States at the end of May
The ETFs industry in the United States had 3,531 products with assets of $9.00 Tn, from 330 providers listed on 3 exchanges at the end of May.
During May, the ETFs industry in the US gathered net inflows of $90.57 Bn. Equity ETFs gathered net inflows of $47.61 Bn during May, bringing YTD net inflows to $160.18 Bn, much higher than the $33.54 Bn in net inflows YTD in 2023. Fixed income ETFs reported net inflows of $20.06 Bn during May, bringing YTD net inflows to $58.02 Bn, lower than the $73.80 Bn in YTD net inflows in 2023. Commodities ETFs reported net outflows of $426.27 Mn during May, bringing YTD net outflows to $5.17 Bn, lower than the $1.50 Bn in net inflows YTD in 2023. Active ETFs attracted net inflows of $22.72 Bn during May, bringing YTD net inflows to $108.71 Bn, much higher than the $43.03 Bn YTD net inflows in 2023.
Substantial inflows can be attributed to the top 20 ETFs by net new assets, which collectively gathered $49.62 Bn during May. SPDR S&P 500 ETF Trust (SPY US) gathered $8.99 Bn, the largest individual net inflow.
Top 20 ETFs by net new assets May 2024: US
|
Name |
Ticker |
Assets |
NNA |
NNA |
|
SPDR S&P 500 ETF Trust |
SPY US |
533,652.03 |
(11,091.48) |
8,990.96 |
|
Vanguard S&P 500 ETF |
VOO US |
454,931.17 |
40,249.91 |
8,377.25 |
|
iShares Core S&P 500 ETF |
IVV US |
456,667.18 |
16,905.14 |
4,361.05 |
|
Invesco QQQ Trust |
QQQ US |
267,473.00 |
12,960.96 |
2,930.24 |
|
iShares iBoxx $ High Yield Corporate Bond ETF |
HYG US |
16,963.90 |
(1,634.02) |
2,524.17 |
|
Vanguard Total Stock Market ETF |
VTI US |
392,010.96 |
12,780.84 |
2,117.38 |
|
Invesco Nasdaq 100 ETF |
QQQM US |
26,193.16 |
5,515.64 |
2,092.36 |
|
Vanguard Total International Bond ETF |
BNDX US |
55,561.41 |
2,452.30 |
2,052.45 |
|
SPDR Portfolio S&P 500 ETF |
SPLG US |
37,123.66 |
8,160.71 |
1,862.32 |
|
Vanguard Total Bond Market ETF |
BND US |
107,116.52 |
5,323.33 |
1,651.78 |
|
Janus Henderson AAA CLO ETF |
JAAA US |
9,842.62 |
4,414.17 |
1,429.25 |
|
iShares 0-3 Month Treasury Bond ETF |
SGOV US |
21,646.22 |
4,031.93 |
1,386.30 |
|
iShares Core U.S. Aggregate Bond ETF |
AGG US |
107,894.89 |
9,237.55 |
1,355.32 |
|
Vanguard Growth ETF |
VUG US |
124,914.84 |
6,730.83 |
1,273.77 |
|
iShares Broad USD High Yield Corporate Bond ETF |
USHY US |
12,390.42 |
315.32 |
1,254.78 |
|
SPDR Portfolio S&P 500 Growth ETF |
SPYG US |
27,013.93 |
2,316.26 |
1,246.55 |
|
iShares MSCI Emerging Markets ETF |
EEM US |
17,973.41 |
184.53 |
1,208.75 |
|
iShares Bitcoin Trust |
IBIT US |
19,673.84 |
16,664.06 |
1,172.77 |
|
Vanguard Intermediate-Term Treasury ETF |
VGIT US |
27,386.68 |
6,325.05 |
1,171.29 |
|
Vanguard Total International Stock Index Fund ETF |
VXUS US |
72,133.91 |
5,139.03 |
1,158.35 |
The top 10 ETPs by net assets collectively gathered $1.12 Bn during May. Alerian MLP Index ETNs due January 28 2044 (AMJB US) gathered $661.79 Mn, the largest individual net inflow.
Top 10 ETPs by net new assets May 2024: US
|
Name |
Ticker |
Assets |
NNA |
NNA |
|
Alerian MLP Index ETNs due January 28 2044 |
AMJB US |
760.55 |
767.48 |
661.79 |
|
iPath Bloomberg Commodity Index Total Return ETN |
DJP US |
585.25 |
(37.60) |
74.78 |
|
ProShares Ultra VIX Short-Term Futures |
UVXY US |
233.27 |
(16.58) |
68.77 |
|
Aberdeen Standard Physical Palladium Shares ETF |
PALL US |
291.53 |
111.97 |
62.69 |
|
ProShares UltraShort DJ-UBS Natural Gas |
KOLD US |
149.28 |
(29.58) |
50.66 |
|
iPath Series B S&P 500 VIX Short-Term Futures ETN |
VXX US |
273.48 |
76.13 |
46.29 |
|
MicroSectors FANG+ Index -3X Inverse Leveraged ETNs due January 8, 2038 |
FNGD US |
163.22 |
77.23 |
44.83 |
|
X-Links Crude Oil Shares Covered Call ETN |
USOI US |
376.32 |
55.66 |
40.50 |
|
United States Copper Index Fund |
CPER US |
229.19 |
74.16 |
34.38 |
|
ProShares UltraShort Silver |
ZSL US |
75.56 |
19.58 |
34.14 |
Investors have tended to invest in Equity ETFs/ETPs during May.
