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$1.38 billion during September, bringing year-to-date net inflows to US$22.68 billion. Assets invested in ETFs have increased 10.9 % year-to-date in 2023, going from US$250.19 billion at the end of 2022, to US$277.36 billion, according to ETFGI's September 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 $1.38 Bn in September.
- Net inflows of $22.68 Bn during 2023 are the third highest on record, after YTD net inflows of $34.71 Bn in 2021, YTD net inflows of $24.62 Bn in 2020.
- 15th month of consecutive net inflows.
- Assets have increased 10.9 % YTD in 2023, going from $250.19 Bn at the end of 2022, to $277.36 Bn.
“The S&P 500 decreased by 4.77% in September and is up 13.07% YTD in 2023. Developed markets excluding the US decreased by 3.54% in September and are up 6.66% YTD in 2023. Netherlands (down 7.90%) and Ireland (down 7.31%) saw the largest decreases amongst the developed markets in September. Emerging markets decreased by 1.86% during September but are up 3.47% YTD in 2023. Thailand (down 9.38%) and Poland (down 9.33%) saw the largest decreases amongst emerging markets in September.” According to Deborah Fuhr, managing partner, founder, and owner of ETFGI.
ETFs industry in Canada assets growth as of end of September
The ETFs industry in Canada had 1,089 ETFs, with 1,372 listings, assets of $277 Bn, from 40 providers listed on 2 exchanges at the end of September.
During September, ETFs gathered net inflows of $1.38 Bn. Equity ETFs reported net outflows of $7 Mn during September, bringing YTD net inflows to $3.96 Bn, much lower than the $6.42 Bn in net inflows YTD in 2022. Fixed income ETFs gathered net inflows of $8 Mn during September, bringing YTD net inflows to $5.04 Bn, higher than the $2.39 Bn in net inflows YTD in 2022. Active ETFs attracted net inflows of $1.38 Bn during the month, gathering YTD net inflows of $13.40 Bn, significantly higher than the $10.18 Bn in net inflows YTD in 2022.
Substantial inflows can be attributed to the top 20 ETFs by net new assets, which collectively gathered $2.23 Bn during September. BMO Equal Weight Banks Index ETF (ZEB CN) gathered $275.61 Mn, the largest individual net inflow.Top 20 ETFs by net new assets September 2023: Canada
|
Name |
Ticker |
Assets |
NNA |
NNA |
|
ZEB CN |
2,989.55 |
841.26 |
275.61 |
|
|
CI High Interest Savings ETF |
CSAV CN |
6,184.99 |
2,349.07 |
221.67 |
|
Horizons High Interest Savings ETF |
CASH CN |
2,614.15 |
1,579.37 |
220.24 |
|
BMO Money Market Fund |
ZMMK CN |
766.33 |
427.52 |
182.77 |
|
Vanguard S&P 500 Index ETF |
VFV CN |
6,540.86 |
1,083.22 |
156.90 |
|
NBI Sustainable Canadian Bond ETF |
NSCB CN |
1,158.40 |
955.83 |
146.37 |
|
iShares ESG Aware MSCI Emerging Markets Index ETF |
XSEM CN |
1,939.56 |
1,996.88 |
129.51 |
|
Purpose High Interest Savings Fund |
PSA CN |
2,888.57 |
102.16 |
100.55 |
|
iShares Core Canadian Universe Bond Index ETF |
XBB CN |
3,916.76 |
502.59 |
97.97 |
|
RBC Target 2026 Corporate Bond Index ETF |
RQO CN |
353.74 |
207.46 |
94.64 |
|
BMO S&P/TSX Capped Composite Index ETF |
ZCN CN |
5,164.94 |
233.67 |
88.97 |
|
Vanguard Canadian Aggregate Bond Index ETF |
VAB CN |
3,071.48 |
320.40 |
87.01 |
|
High Interest Savings Account Fund |
HISA CN |
1,311.96 |
505.06 |
77.34 |
|
BMO Ultra Short-Term Bond ETF |
ZST CN |
1,027.27 |
238.90 |
72.32 |
|
Vanguard FTSE Canada All Cap Index ETF |
VCN CN |
4,034.58 |
372.56 |
53.96 |
|
BMO S&P 500 Index ETF |
ZSP CN |
8,647.42 |
(1,195.96) |
49.25 |
|
iShares Core Equity ETF Portfolio |
XEQT CN |
1,440.46 |
383.96 |
48.86 |
|
Horizons Equal Weight Banks Index ETF |
HBNK CN |
74.52 |
78.72 |
45.10 |
|
iShares Floating Rate Index ETF |
XFR CN |
681.02 |
306.86 |
43.22 |
|
Vanguard All-Equity ETF Portfolio |
VEQT CN |
2,111.74 |
382.17 |
41.98 |
Investors have tended to invest in Active ETFs during September.
