U.S. ETFs And ETPs

U.S. ETFs Hit $3.63 Trillion In AUM In January 2019 As SPY Celebrates 26th Anniversary

ETFGI reports assets invested in US listed ETFs and ETPs rise to 3.63 trillion US dollars at the end of January 2019

Q4 hedge fund letters, conference, scoops etc

LONDONFebruary 20, 2019 — 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 saw net outflows of US$1.56 billion in January. Assets invested in the US ETF/ETP industry finished the month up 6.95%, from US$3.39 trillion at the end of December, to US$3.63 trillion, according to ETFGI’s January 2019 US ETF and ETP industry landscape insights report, an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)

Highlights

  • Assets invested in the US ETF/ETP industry rise 6.95% in January.
  • During January 2019, ETFs/ETPs listed in the US saw $1.56 Bn in net outflows.
  • SPY US, arguably the most famous ETF listed, celebrated its 26th anniversary on 22nd

“In January, equity markets rebounded from the Q4 ’18 downward spiral that few managed to avoid unscathed. Fed chair Powell revised his stance on where he believes the neutral rate of interest lies, easing fears of a dramatic and painful tightening cycle. Energy declines during the Q4 rout subdued inflation in developed economies taking hiking pressure off central banks while provided stimulus to consumers and businesses, giving stronger core metrics. The S&P 500 finished January up 8.01%, the best January since 1987, while the S&P Topix 150 gained 7.26% and the S&P Europe 350 gained 6.23%. Emerging and Frontier markets were up 7.77% and 4.61% respectively, hampered by dollar strength.” according to Deborah Fuhr, managing partner and founder of ETFGI.

At the end of January 2019, the US ETF/ETP industry had 2,263 ETFs/ETPs, from 148 providers listed on 3 exchanges. Following net outflows of US$1.56 Bn and market moves during the month, assets invested in the US increased by 6.95% from $3.39 Tn at the end of December, to $3.63 Tn.

Growth in US ETF and ETP assets as of the end of January 2019

U.S. ETFs And ETPs

Equity ETFs/ETPs listed in the US saw net outflows of $18.49 Bn in January, bringing net outflows for 2019 to $18.49 Bn, substantially less than the $64.89 Bn in net inflows equity products had attracted by the end of January 2018. Fixed income ETFs/ETPs listed in the US attracted net inflows of $14.69 Bn in January, bringing net inflows for 2019 to $14.69 Bn, considerably greater than the $8.23 Bn in net inflows fixed income products had attracted by the end of January 2018.
Substantial inflows can be attributed to the top 20 ETF’s by net new assets, which collectively gathered $30,893 Bn in January, the iShares Core MSCI Emerging Markets ETF (IEMG US) gathered $4.24 Bn alone.

Top 20 ETFs by net new assets January 2019: US

Name Ticker Assets
(US$ Mn)
Jan-19
NNA
(US$ Mn)
YTD 2018
NNA
(US$ Mn)
Jan-19
iShares Core MSCI Emerging Markets ETF IEMG US 57,728 4,236 4,236
Vanguard Short-Term Corporate Bond ETF VCSH US 23,505 3,032 3,032
Vanguard Intermediate-Term Corporate Bond ETF VCIT US 21,300 2,647 2,647
iShares MSCI Emerging Markets ETF EEM US 33,348 1,882 1,882
iShares Edge MSCI USA Quality Factor ETF QUAL US 9,139 1,756 1,756
iShares J.P. Morgan USD Emerging Markets Bond ETF EMB US 16,579 1,699 1,699
Vanguard S&P 500 ETF VOO US 99,406 1,599 1,599
iShares MBS ETF MBB US 13,919 1,497 1,497
SPDR Bloomberg Barclays High Yield Bond ETF JNK US 8,584 1,485 1,485
iShares 7-10 Year Treasury Bond ETF IEF US 11,671 1,433 1,433
iShares 20+ Year Treasury Bond ETF TLT US 10,130 1,294 1,294
Vanguard Total Stock Market ETF VTI US 102,788 1,103 1,103
iShares iBoxx $ Investment Grade Corporate Bond ETF LQD US 31,731 1,085 1,085
iShares MSCI USA Minimum Volatility ETF USMV US 21,172 1,041 1,041
iShares Core S&P Small-Cap ETF IJR US 42,269 993 993
iShares US Treasury Bond ETF GOVT US 7,952 991 991
Communication Services Select Sector SPDR Fund XLC US 4,089 983 983
WisdomTree Floating Rate Treasury Fund USFR US 2,018 842 842
Vanguard FTSE Emerging Markets ETF VWO US 60,452 662 662
SPDR Bloomberg Barclays Short Term High Yield Bond ETF SJNK US 3,179 631 631

Similarly, the top 10 ETPs by net new assets collectively gathered $3,381 Mn by the end of January 2019, with the SPDR Gold Shares (GLD US) gathering $1.51 Bn.

Top 10 ETPs by net new assets December 2018: US

Name        Ticker Assets
(US$ Mn)
Jan-19
NNA
(US$ Mn)
YTD 2018
 

NNA
(US$ Mn)
Jan-19

SPDR Gold Shares GLD US 34,069 1,514 1,514
iShares Gold Trust IAU US 12,442 511 511
iPath Series B S&P 500 VIX Short-Term Futures ETN VXXB US 419 280 280
VelocityShares Daily 3x Long Natural Gas ETN UGAZ US 493 265 265
ProShares Ultra VIX Short-Term Futures UVXY US 322 244 244
Invesco CurrencyShares Japanese Yen Trust FXY US 417 240 240
VelocityShares Daily 2x VIX Short Term ETN TVIX US 362 109 109
SPDR Gold MiniShares Trust GLDM US 518 106 106
VelocityShares 3x Inverse Crude Oil ETN DWT US 90 64 64
ProShares VIX Short-Term Futures ETF VIXY US 155 50 50

Investors have tended to invest in emerging market and fixed income ETFs in January.

Article by ETFGI


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