ETF Inflows Strong Despite Hawkish Fed

Fund flows climbed to $43 billion in August.

ShubhamSaharan_white_bg
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Reviewed by: Shubham Saharan
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Edited by: Shubham Saharan

Strong inflows continued into exchange-traded funds in August, climbing to $43 billion, up nearly 10% from July.  

The volumes may come as a surprise, as investors responded to central bankers’ warnings at the annual Jackson Hole conference about higher interest rates for the foreseeable future. ETF flows plummeted 84% last week from the week prior. Equity funds were the hardest hit last week, while bonds thrived, a trend analysts predict could continue in the coming months.  

However, equity flows rose for the second straight month overall. U.S. equity funds raked in $30.7 billion last month, more than three times the $10 billion intake in July. U.S. fixed income ETF inflows declined to about half that of July’s, falling to $13.2 billion from $27.9 billion.  

2022 remains on track to be the second-best year for ETF inflows on record. 

The trend was already somewhat reflected in this month’s top asset gatherers. The top-performing ETFs during the month included the Vanguard Total Bond Market ETF (BND), the Vanguard Short-Term Corporate Bond ETF (VCSH) and the iShares 7-10 Year Treasury Bond ETF (IEF).

On the other side of the ledger, equity-focused funds including the SPDR Portfolio S&P 500 High Dividend ETF (SPYD), the iShares Core S&P Total U.S. Stock Market ETF (ITOT) and the SPDR S&P Dividend ETF (SDY) saw the most outflows during the month.  

 
For a full list of the top inflows and outflows for August and 2022 as a whole, see the tables below:   

 

Contact Shubham Saharanat[email protected]  

 

Top Gainers (August 2022)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMYTD 2022 Net Flows($,M)
XLFFinancial Select Sector SPDR FundState Street Global Advisors3,853.4633,513.1911.50%-4,420.99
VOOVanguard S&P 500 ETFVanguard3,620.95265,704.751.36%32,902.93
BNDVanguard Total Bond Market ETFVanguard2,587.6483,537.853.10%9,573.16
VCSHVanguard Short-Term Corporate Bond ETFVanguard2,562.5643,784.905.85%4,766.24
VTIVanguard Total Stock Market ETFVanguard2,465.08263,437.140.94%16,769.70
IEFiShares 7-10 Year Treasury Bond ETFBlackrock2,436.6123,130.3310.53%7,692.14
IVViShares Core S&P 500 ETFBlackrock2,311.09298,263.610.77%18,125.71
VGITVanguard Intermediate-Term Treasury Index ETFVanguard2,227.4511,748.8218.96%3,139.13
TLTiShares 20+ Year Treasury Bond ETFBlackrock2,167.3425,661.888.45%11,089.82
AGGiShares Core U.S. Aggregate Bond ETFBlackrock1,462.6082,546.801.77%813.79

 

Top Gainers (Year-to-Date)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMAugust 2022 Net Flows($,M)
VOOVanguard S&P 500 ETFVanguard32,902.93265,704.7512.38%3,620.95
IVViShares Core S&P 500 ETFBlackrock18,125.71298,263.616.08%2,311.09
VTIVanguard Total Stock Market ETFVanguard16,769.70263,437.146.37%2,465.08
VTVVanguard Value ETFVanguard13,665.2798,495.1913.87%631.54
TLTiShares 20+ Year Treasury Bond ETFBlackrock11,089.8225,661.8843.22%2,167.34
SCHDSchwab U.S. Dividend Equity ETFCharles Schwab9,729.0137,434.4025.99%1,423.51
BNDVanguard Total Bond Market ETFVanguard9,573.1683,537.8511.46%2,587.64
TQQQProShares UltraPro QQQProShares8,579.4912,293.2869.79%102.11
GOVTiShares U.S. Treasury Bond ETFBlackrock8,254.2422,628.4536.48%96.29
JEPIJPMorgan Equity Premium Income ETFJPMorgan Chase7,703.7812,517.2861.55%1,332.85

 

Biggest Losers (August 2022)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMYTD 2022 Net Flows($,M)
BBEUJPMorgan BetaBuilders Europe ETFJPMorgan Chase-2,445.123,029.88-80.70%-4,758.67
HYGiShares iBoxx USD High Yield Corporate Bond ETFBlackrock-2,325.0112,334.87-18.85%-6,856.41
GLDSPDR Gold TrustState Street Global Advisors-1,824.0854,130.62-3.37%395.93
SPYDSPDR Portfolio S&P 500 High Dividend ETFState Street Global Advisors-1,458.587,865.69-18.54%2,926.37
BILSPDR Bloomberg 1-3 Month T-Bill ETFState Street Global Advisors-1,379.3417,393.08-7.93%3,790.61
MUBiShares National Muni Bond ETFBlackrock-1,308.4227,596.08-4.74%4,676.08
ITOTiShares Core S&P Total U.S. Stock Market ETFBlackrock-1,184.2740,995.46-2.89%2,131.78
SDYSPDR S&P Dividend ETFState Street Global Advisors-1,167.8922,097.29-5.29%1,931.58
EFAiShares MSCI EAFE ETFBlackrock-1,060.2144,143.52-2.40%-1,046.97
QQQInvesco QQQ TrustInvesco-1,025.00165,267.01-0.62%1,146.12

 

Biggest Losers (Year-to-Date)

TickerNameIssuerNet Flows ($,mm)AUM ($M)% of AUMAugust 2022 Net Flows($,M)
SPYSPDR S&P 500 ETF TrustState Street Global Advisors-24,135.63360,973.24-6.69%434.71
HYGiShares iBoxx USD High Yield Corporate Bond ETFBlackrock-6,856.4112,334.87-55.59%-2,325.01
VLUEiShares MSCI USA Value Factor ETFBlackrock-5,489.488,673.27-63.29%-246.23
IWMiShares Russell 2000 ETFBlackrock-5,033.5852,872.30-9.52%83.43
TIPiShares TIPS Bond ETFBlackrock-4,922.9929,883.89-16.47%-0.92
BBEUJPMorgan BetaBuilders Europe ETFJPMorgan Chase-4,758.673,029.88-157.06%-2,445.12
XLFFinancial Select Sector SPDR FundState Street Global Advisors-4,420.9933,513.19-13.19%3,853.46
SCHPSchwab U.S. TIPS ETFCharles Schwab-3,448.8515,727.36-21.93%-188.82
VGKVanguard FTSE Europe ETFVanguard-2,966.3314,284.36-20.77%-537.85
FDNFirst Trust Dow Jones Internet Index FundFirst Trust-2,598.654,122.54-63.04%-245.73

 

Asset Classes (August 2022)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity30,725.563,869,758.970.79%
International Equity-2,377.501,111,587.13-0.21%
U.S. Fixed Income13,184.581,111,934.021.19%
International Fixed Income1,785.20139,845.911.28%
Commodities-2,696.10139,556.16-1.93%
Currency117.514,277.802.75%
Leveraged155.4448,496.650.32%
Inverse1,898.0925,286.857.51%
Asset Allocation-173.8416,835.01-1.03%
Alternatives384.268,274.664.64%
Total:43,003.216,475,853.130.66%

 

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity172,099.773,869,758.974.45%
International Equity66,938.221,111,587.136.02%
U.S. Fixed Income102,954.581,111,934.029.26%
International Fixed Income6,142.82139,845.914.39%
Commodities5,941.85139,556.164.26%
Currency1,805.054,277.8042.20%
Leveraged17,448.5048,496.6535.98%
Inverse12,203.4125,286.8548.26%
Asset Allocation278.5616,835.011.65%
Alternatives1,690.358,274.6620.43%
Total:387,503.106,475,853.135.98%

 

August 2022 ETF Issuer League Table

IssuerNet Flows ($,M)AUM ($,M)% of AUMYTD 2022 Net Flows($,M)
Blackrock4,684.582,178,685.830.22%91,476.81
Vanguard24,236.671,890,238.181.28%139,843.54
State Street Global Advisors1,766.29972,651.750.18%3,633.82
Invesco-74.98352,271.17-0.02%18,198.13
Charles Schwab2,997.75252,540.211.19%22,692.29
First Trust1,461.96122,771.171.19%8,404.05
JPMorgan Chase37.4382,204.570.05%11,362.19
ProShares1,490.8262,561.972.38%20,808.02
Dimensional Holdings1,901.1760,722.883.13%14,884.20
VanEck-645.0949,732.57-1.30%1,581.65
WisdomTree799.8044,128.611.81%8,477.49
Mirae Asset Global Investments Co., Ltd.725.1438,853.861.87%3,914.58
Fidelity468.7631,126.361.51%2,131.86
Goldman Sachs480.7625,161.121.91%2,673.49
PIMCO-337.1323,193.21-1.45%-2,040.74
Direxion475.8622,433.432.12%8,433.04
Northern Trust0.9921,164.090.00%2,455.71
DWS-438.1118,902.36-2.32%-1,697.25
Pacer Advisors1,078.9816,212.006.66%7,841.95
ARK-975.8514,523.96-6.72%-565.31
American Century Investments769.6413,788.135.58%5,599.57
AJM Ventures LLC222.3212,466.381.78%-1,424.06
SS&C30.2011,212.460.27%590.11
CICC-761.0710,933.53-6.96%927.09
Franklin Templeton725.419,151.627.93%561.89
Innovator442.138,433.355.24%3,056.37
Victory Capital182.797,952.832.30%1,381.75
Nuveen Securities123.907,584.061.63%873.72
Abrdn Plc-7.646,956.58-0.11%778.85
WisdomTree Investments, Inc.-80.506,036.81-1.33%-205.05
Janus Henderson-35.315,359.28-0.66%1,171.45
Exchange Traded Concepts-45.095,065.97-0.89%-435.50
John Hancock63.755,052.021.26%428.95
ETFMG-30.914,192.81-0.74%-279.38
New York Life83.594,011.802.08%-194.94
The Hartford58.123,765.431.54%144.76
Marygold Cos, Inc.-87.503,685.80-2.37%-1,533.92
Amplify Investments87.873,553.882.47%445.12
BMO83.403,353.782.49%1,014.04
The Capital Group Companies615.932,861.8221.52%2,991.09
Toroso Investments17.092,853.170.60%459.11
Barclays Capital Inc.-102.172,727.37-3.75%-950.15
Prudential74.762,716.302.75%595.33
Principal-778.382,663.95-29.22%-1,664.98
US Global Investors-10.482,554.35-0.41%-77.94
Aptus Capital Advisors25.731,996.651.29%306.90
AdvisorShares7.941,654.160.48%130.50
Cambria-0.591,557.06-0.04%544.29
Virtus Investment Partners35.951,453.522.47%62.80
Simplify Asset Management Inc.89.691,434.936.25%554.67
Alpha Architect294.621,417.7920.78%475.71
Strategy Shares-3.101,409.92-0.22%160.84
GraniteShares-65.521,391.53-4.71%33.07
BNY Mellon88.511,370.746.46%302.39
Columbia Management Investment Advisers, LLC-11.421,352.97-0.84%-236.14
Vident17.631,313.231.34%50.09
Sprott, Inc.9.901,307.750.76%320.70
UBS0.001,300.600.00%8.49
Horizon Kinetics LLC-44.261,268.49-3.49%467.96
The Motley Fool-8.861,199.74-0.74%-94.80
Inspire Investing LLC59.231,103.585.37%172.94
Defiance ETFs-25.161,094.63-2.30%-208.86
Main Management16.611,018.931.63%28.14
Davis Advisers-3.61883.14-0.41%-146.60
Distillate Capital27.97817.843.42%298.12
Teucrium110.35808.4113.65%590.62
Credit Suisse Group AG1.31707.450.19%289.91
T. Rowe Price Group, Inc.42.66693.256.15%218.49
Nationwide-15.35657.14-2.34%-24.33
Roundhill Investments-12.70651.45-1.95%-94.94
Tortoise1.16643.150.18%65.63
Tuttle Tactical Management, LLC146.71623.1123.55%284.75
Merk-1.81615.27-0.29%63.70
Timothy Plan3.69606.460.61%119.75
Redwood Investment Management16.77587.282.86%-80.10
Litman Gregory Capital Partners LLC93.00558.4316.65%459.84
Regents Park Funds9.24533.021.73%216.43
Howard Capital Management21.90526.244.16%9.74
Day Hagan Asset Management16.76517.223.24%190.77
ClearShares LLC20.06507.983.95%135.16
Core Alternative Capital37.73443.858.50%175.43
Liquid Strategies3.85434.580.89%41.50
Engine No. 1 LLC-28.45420.80-6.76%191.69
TrimTabs-10.23385.30-2.66%-53.44
ORIX Corp.11.87379.583.13%153.78
Advisors Asset Management20.96354.535.91%173.27
Cavalier16-19.00354.09-5.37%-19.81
Swedish Export Credit-14.08336.02-4.19%9.35
Retireful LLC24.61299.038.23%316.79
Bondbloxx Investment Management LLC-7.64280.90-2.72%258.82
AXS Investments26.16271.029.65%170.00
Little Harbor Advisors-6.06260.57-2.32%-44.89
WBI0.00247.210.00%-15.61
AGF6.11218.052.80%101.17
Truemark Group0.90201.530.44%22.00
Syntax Advisors8.03201.473.99%5.31
Wahed Invest LLC2.93200.201.46%53.83
Al Marketing LLC-1.73197.58-0.88%-77.98
Renaissance Capital-14.91194.98-7.65%-56.39
SRN Advisors-8.49187.63-4.52%-72.26
Volatility Shares LLC18.43184.849.97%212.67
Wainwright, Inc.0.00183.410.00%29.83
Impact Shares6.95172.614.02%13.88
Stf Management LP3.99169.942.35%177.20
Oneascent Holdings LLC-1.38164.57-0.84%101.93
Kingsview Partners LLC14.45161.348.96%57.12
Western & Southern Mutual Holding Co.31.85161.1819.76%31.85
OBP Capital LLC3.58149.812.39%23.65
Rayliant Investment Research1.50149.771.00%109.59
Truist-0.60149.59-0.40%12.10
Gadsden7.18145.314.94%26.38
Cary Street Partners Financial LLC /VA/9.39139.646.72%143.55
Swan Global Investments-22.76134.66-16.90%-4.93
CornerCap Investment Counsel, Inc.1.53133.341.15%33.76
Intangible Capital-5.78130.85-4.42%-22.84
Doubleline ETF Adviser LP0.00121.650.00%49.44
Humankind USA LLC0.03116.310.03%17.61
Arrow Funds-2.00111.47-1.80%-9.77
Neil Azous Revocable Trust3.68101.733.61%31.22
Pacific Life13.6384.7816.07%54.51
Water Island Capital Partners LP1.3282.491.61%57.98
Baird Financial Group13.9177.3617.99%81.85
Renaissance Health Service Corp.77.6877.11100.74%77.68
Absolute Investment Advisers LLC3.4173.374.65%22.89
First Manhattan Co.0.0070.930.00%0.03
Power Corporation of Canada13.7470.6619.45%33.97
Exponential ETFs0.0070.450.00%-1.16
Toews Corp.3.3369.494.80%18.72
IronHorse Holdings3.5266.915.26%3.52
ProcureAM-3.2266.71-4.83%-15.13
Beyond Investing0.0065.080.00%6.79
Inverdale Capital Management LLC1.6764.902.58%27.71
Pettee Investors-0.2664.22-0.40%-16.29
GeaSphere LLC0.0064.090.00%6.24
Emles Advisors LLC1.3162.712.08%4.89
Cohanzick Management2.0562.183.30%19.03
Natixis-2.3961.83-3.87%-4.29
EntrepreneurShares, LLC0.0054.180.00%-20.64
SEI Investments-2.6953.61-5.02%52.99
Federated Hermes, Inc.-2.0352.39-3.87%7.48
Alexis Investment Partners LLC6.0151.3011.72%7.56
Formidable Asset Management0.0050.590.00%9.52
VectorShares LLC2.5945.635.68%30.39
Logan Capital Management Inc.0.0045.480.00%0.00
Red Gate Advisers LLC3.0442.887.08%9.31
Guinness Atkinson Asset Management0.0042.170.00%-1.73
Alger Group Holdings LLC0.5441.931.29%6.16
ETF Series Solutions0.0039.600.00%0.72
2nd Vote Value Investments, Inc0.0038.780.00%-1.73
The Leuthold Group LLC10.9736.8329.77%21.36
Premise Capital-0.7433.58-2.21%-2.02
Highland Capital Management-3.0333.01-9.18%-10.96
Advocate Capital Management LLC-0.2632.85-0.80%10.27
Build Asset Management LLC0.0031.880.00%34.02
Ridgeline Research LLC0.0031.400.00%2.41
ASYMmetric ETFs-0.8031.27-2.56%10.16
Metaurus Advisors-0.0330.48-0.11%5.00
Sheaff Brock Capital Management LLC0.5429.611.81%3.21
GAMCO Investors, Inc.0.0025.210.00%3.82
Convergence Investment Partners, LLC-0.4523.53-1.92%-1.64
Cultivar Capital, Inc.0.0023.520.00%15.64
Esoterica0.0022.010.00%-8.11
Faith Investor Services, LLC-1.3321.89-6.06%24.38
Valkyrie Funds LLC-0.5221.63-2.41%-23.52
AlphaMark Advisors0.0021.510.00%0.00
First Pacific Advisors LP1.1021.005.23%22.78
Reflection Asset Management, LLC1.2819.646.52%8.75
Knights of Columbus-1.2718.21-6.99%-2.07
Mairs & Power, Inc.0.0017.450.00%1.33
Point Bridge Capital-0.9815.26-6.43%1.94
Zacks Investment Management0.6014.694.11%4.21
Applied Finance Group0.6312.624.98%4.60
Changebridge Capital LLC-0.4712.30-3.83%-2.56
Matthews International Capital Management7.0411.2562.53%7.04
GCI Investors, Inc.0.0011.070.00%7.40
WealthTrust Asset Management LLC0.5310.375.12%10.10
Goose Hollow Capital Management LLC4.6510.3345.02%9.34
Future Fund Advisors-0.389.72-3.93%-2.38
Counterpoint Mutual Funds LLC0.009.260.00%0.00
Alphatrai Funds, Inc.-2.248.99-24.95%3.11
MCCM Group LLC0.008.740.00%8.80
Lifegoal Investments LLC-0.228.22-2.62%5.19
Alternative Access Funds LLC0.007.350.00%-2.43
Kelly Strategic Management LLC2.506.9236.17%7.58
Digital Currency Group, Inc.0.005.960.00%12.54
Nuveen Investments, Inc.0.005.220.00%0.00
VegTech LLC0.815.0815.87%4.15
Rcube SAS0.574.9511.49%4.75
Clockwise Capital LLC0.004.850.00%3.58
Democracy Investment Management LLC0.004.79-0.01%2.39
Lyrical Partners0.004.540.00%1.31
Spear Advisors LLC0.003.430.00%0.30
Jacob Asset Management0.103.423.00%-0.04
V-Square Quantitative Management LLC0.003.390.00%2.47
RBS Securities2.992.98100.32%2.99
Volt Equity LLC0.152.555.86%0.48
Dynamic Shares LLC0.002.370.00%1.00
Grizzle Investment Management LLC0.001.850.00%1.10
Kingsbarn Capital Management LLC-1.111.66-67.32%0.12
Amberwave Partners Research & Management LLC0.001.610.00%1.28
Big Data Federation, Inc.0.001.510.00%0.62
Dalton Capital0.001.240.00%0.26
Inherent Wealth Fund LLC0.191.0618.07%0.97
Subversive Capital Advisor LLC0.000.960.00%1.25
Tradelegs LLC0.000.500.00%0.50
Neuberger Berman0.000.000.00%-0.52
Cabot ETF Partners LLC0.000.000.00%-0.29
Eaton Vance Corp.0.000.000.00%0.00

 

Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.

Shubham Saharan is a markets reporter at etf.com. Before joining the company, she reported for Bloomberg and the Financial Times. Saharan is a graduate of Barnard College of Columbia University.