Exchange traded funds and notes listed in the U.S. saw inflows of nearly $24 billion in October as assets under management in the fast-growing business climbed back above $1 trillion.
According to the National Stock Exchange, ETFs and ETNs held $1.081 trillion in assets at the end of October, a 15% jump year-over-year and a 11% gain month-over-month when assets totaled $973 billion in September.
ETPs saw net cash inflows of $23.9 billion in October, garnering $101.6 billion in total net cash inflows from the start of 2011. U.S. equity ETPs experienced the largest gains at almost $16 billion, which contrasts with the $3.9 billion lost in U.S. equity ETPs in September.
Meanwhile, commodity ETPs were the biggest losers in October, leaking $578 million in assets.
Total ETF and ETN trading volumes almost hit $2 trillion for the month, which also accounted for 34% of overall U.S. equity trading volumes in the market. U.S. equity ETPs showed the highest notional trading volume, with $1.532 trillion, followed by volumes in global and international equity ETPs, with $242.1 billion.
At the end of October, the number of U.S.-listed fund products totaled 1,359.
For more information on ETFs, visit our ETF performance reports category.
Max Chen contributed to this article.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.