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In February 2013, Exchange Traded Funds (ETFs) and Exchange Traded Products (ETPs) listed in the United States had net inflows of $8.7 billion, according to new research published in the latest ETFGI Global ETF and ETP industry insights. ETFGI won the Best ETF Research award in 2012 in the ETF Express awards announced on February 28th in London.
Equity ETFs and ETPs gathered the largest net inflows with $9.9 billion, followed by leveraged inverse ETFs and ETPs with $989 million, and active ETFs and ETPs with $656 million, while commodity ETFs and ETPs experienced net outflows with $3.6 billion.
Year to date through end of February 2013, ETFs and ETPs have seen net inflows of $37.9 billion. Equity ETFs and ETPs gathered the largest net inflows year to date with $38.1 billion, followed by leveraged inverse ETFs and ETPs with $2.1 billion, and active ETFs and ETPs with $1.7 billion, while commodity ETFs and ETPs experienced net outflows year to date of $4.2 billion.
“The flows into equity ETFs and ETPs show investors are rotating out of cash and fixed income into equities as investor confidence continues to improve,” says Deborah Fuhr, Managing Partner at London-based ETFGI.
In February 2013, equity ETFs and ETPs saw net inflows of $9.9 billion. North American equity ETFs and ETPs gathered the largest net inflows with $5.5 billion, followed by developed Asia Pacific equity indices with $2.6 billion, and global (ex-US) equity with $1.75 billion, while developed European equity ETFs and ETPs experienced the largest net outflows with $228 million.
At the end of February, the US ETF industry had 1,158 ETFs, assets of $1.3 trillion US dollars, from 35 providers on 3 exchanges. Including ETFs and other Exchange Traded Products (ETPs), at the end of February, the US ETF and ETP industry had 1,443 ETFs and ETPs, assets of $1.43 trillion, from 53 providers on 3 exchanges.
Vanguard gathered the largest net ETF/ETP inflows in February with $5.59 billion, followed by iShares with $2.32 billion and WisdomTree with $2.16 billion net inflows.
S&P Dow Jones has the largest amount of ETF/ETP assets tracking its benchmarks with $450 billion, reflecting 31.5% market share; MSCI is second with $354 billion and 24.8% market share, followed by BarCap with $162 billion and 11.4% market share.
In February 2013 in the US, 11 new ETFs and ETPs were launched by 8 providers on 2 exchanges, while 14 ETFs and ETPs delisted. Year to date through end of February 16 new ETFs and ETPs have been launched by 13 providers on 2 exchanges, while 20 ETFs and ETPs have delisted.
The top 100 ETFs and ETPs, out of 1,443, account for 78.1% of US ETF and ETP assets. 191 ETFs and ETPs have greater than $1 billion in assets, while 58% of all ETFs and ETPs have less than $100 million, 48% of all ETFs and ETPs have less than $50 million and 23% of ETFs and ETPs have less than $10 million in assets.
