The last week has seen some potent volatility to put it mildly, but that hasn’t stopped the ETF Issuer League from plugging along, headlined by some dramatic inflow numbers for Vanguard and some striking outflows for State Street’s SPDR ETF suite. Gold, too, stood out, as investors are perhaps flocking to the precious metal as a source of stability.
| Issuer |
AUM ($, mm) |
Net Flows ($, mm) |
| BlackRock Financial Management |
$2,211,528.71 |
$2,683.53 |
| Vanguard |
$1,937,712.11 |
$17,599.79 |
| State Street |
$903,552.82 |
-$4,249.66 |
| Invesco |
$343,877.48 |
-$1,198.52 |
| Charles Schwab |
$267,299.68 |
$547.51 |
| First Trust |
$133,410.52 |
-$353.64 |
| JPMorgan Chase |
$102,921.47 |
$19.51 |
| Dimensional |
$77,878.14 |
$322.34 |
| World Gold Council |
$62,445.50 |
$619.61 |
| ProShares |
$59,171.99 |
-$1,018.37 |
| VanEck |
$53,531.79 |
$266.65 |
| WisdomTree |
$51,279.53 |
$419.11 |
| Mirae Asset Global Investments Co., Ltd. |
$36,761.94 |
-$86.35 |
| Fidelity |
$31,474.96 |
-$84.20 |
| Goldman Sachs |
$27,544.83 |
$300.57 |
| Rafferty Asset Management |
$24,472.13 |
$557.65 |
| Pacer Advisors |
$21,836.88 |
$130.72 |
| American Century Investments |
$21,194.37 |
$24.28 |
| Allianz Investment Management LLC |
$20,736.64 |
-$733.12 |
| Northern Trust |
$20,184.19 |
-$45.21 |
| DWS |
$18,582.28 |
-$285.57 |
| ARK |
$12,866.01 |
$382.23 |
| Innovator |
$12,190.99 |
$44.50 |
| Franklin Templeton |
$10,811.71 |
$27.39 |
| SS&C |
$10,207.80 |
$61.52 |
| CICC |
$8,793.64 |
-$149.21 |
| Victory Capital |
$7,766.18 |
-$0.39 |
| WisdomTree Investments, Inc. |
$7,470.14 |
-$7.03 |
| Capital Group |
$7,447.21 |
$117.92 |
| TIAA |
$7,343.15 |
$8.58 |
| Abrdn Plc |
$6,840.55 |
-$25.62 |
| Janus Henderson |
$6,264.10 |
$100.19 |
| Manulife |
$4,987.35 |
-$1.26 |
| Exchange Traded Concepts |
$4,612.17 |
-$12.72 |
| Prudential |
$4,606.90 |
-$24.85 |
| Amplify Investments |
$4,091.06 |
$10.81 |
| The Hartford |
$3,897.26 |
-$15.48 |
| New York Life |
$3,866.63 |
-$2.97 |
| ETFMG |
$3,692.79 |
-$14.14 |
| BNY Mellon |
$3,516.63 |
-$16.17 |
| Marygold |
$3,358.66 |
$20.82 |
| BMO Financial Group |
$3,318.48 |
$33.38 |
| Alpha Architect |
$3,274.63 |
$111.72 |
| Tidal |
$3,173.31 |
$8.31 |
| Principal |
$2,010.88 |
-$0.15 |
| Cambria |
$1,876.17 |
-$15.80 |
| US Global Investors |
$1,828.55 |
-$24.03 |
| Aptus Capital Advisors |
$1,804.50 |
$4.53 |
| Barclays Capital |
$1,741.73 |
-$69.73 |
| Power Corporation of Canada |
$1,493.44 |
$0.69 |
| Simplify |
$1,404.05 |
-$26.27 |
| Main Management |
$1,364.68 |
$5.09 |
| Virtus Investment Partners |
$1,309.79 |
-$6.83 |
| Vident |
$1,304.56 |
$1.39 |
| GraniteShares |
$1,290.65 |
-$0.82 |
| UBS |
$1,274.52 |
$0.00 |
| Ameriprise Financial |
$1,271.93 |
-$17.45 |
| Horizon Kinetics |
$1,182.45 |
-$26.80 |
| Sprott |
$1,155.74 |
$1.55 |
| Rational Capital LLC |
$1,138.48 |
-$5.39 |
| AdvisorShares |
$1,133.99 |
-$1.15 |
| Inspire Investing LLC |
$1,115.02 |
$1.64 |
| The Motley Fool |
$1,080.57 |
-$1.22 |
| Distillate Capital |
$990.73 |
-$1.01 |
| AXS Investments |
$978.95 |
-$181.62 |
| Renaissance Health Service Corp. |
$936.35 |
$145.90 |
| T. Rowe Price Group, Inc. |
$914.20 |
$1.42 |
| Defiance ETFs |
$879.69 |
-$2.96 |
| Davis Advisers |
$859.98 |
-$0.00 |
| iM Global Partner US LLC |
$819.51 |
-$46.52 |
| Bondbloxx Investment Management LLC |
$796.31 |
$20.52 |
| Harbor |
$763.30 |
-$3.84 |
| Focus Financial Partners |
$750.99 |
$0.86 |
| Timothy Plan |
$706.22 |
-$2.89 |
| Merk |
$669.10 |
$0.00 |
| Redwood |
$642.11 |
$0.80 |
| Credit Suisse Group AG |
$584.96 |
$5.52 |
| Roundhill Investments |
$571.75 |
-$1.24 |
| Tortoise |
$553.83 |
-$1.94 |
| Core Alternative Capital |
$529.38 |
-$12.86 |
| ClearShares LLC |
$505.07 |
$5.02 |
| Engine No. 1 |
$502.85 |
$1.70 |
| Nationwide |
$493.68 |
-$5.65 |
| Howard Capital Management |
$492.06 |
$0.00 |
| Advisors Asset Management |
$490.24 |
$3.19 |
| Teucrium |
$488.92 |
-$6.41 |
| Day Hagan Asset Management |
$468.91 |
-$6.98 |
| Anfield Group |
$449.97 |
-$1.26 |
| Equitable |
$433.22 |
$43.73 |
| AGF |
$407.28 |
-$16.24 |
| Liquid Strategies |
$362.06 |
-$0.90 |
| FCF Advisors |
$356.05 |
-$0.52 |
| Doubleline ETF Adviser LP |
$352.28 |
$1.84 |
| Neuberger Berman |
$318.39 |
$1.70 |
| Adaptive Investments |
$308.83 |
$2.74 |
| Retireful LLC |
$293.09 |
$4.07 |
| Aptus Holdings LLC |
$270.77 |
$0.00 |
| Wahed |
$244.68 |
$1.00 |
| Oneascent Holdings LLC |
$244.23 |
$9.73 |
| Cary Street Partners Financial LLC /VA/ |
$216.30 |
$0.72 |
| Matthews International Capital Management |
$208.40 |
$7.90 |
| WBI |
$208.30 |
$0.00 |
| AmeriLife |
$207.77 |
-$0.77 |
| Western & Southern Mutual Holding Co. |
$202.55 |
$0.00 |
| Deutsche Bank |
$196.96 |
$10.09 |
| Little Harbor Advisors |
$193.78 |
-$1.89 |
| Syntax |
$188.38 |
$2.56 |
| Volatility Shares LLC |
$182.31 |
$2.43 |
| Truemark Group |
$182.31 |
-$0.82 |
| Kingsview Partners LLC |
$177.37 |
$0.04 |
| Impact Shares |
$176.81 |
-$0.90 |
| CI Financial |
$158.36 |
$0.00 |
| CornerCap Investment Counsel, Inc. |
$144.77 |
$0.96 |
| Truist |
$143.78 |
$0.00 |
| Stf Management LP |
$142.57 |
-$0.58 |
| Rayliant |
$137.52 |
-$0.35 |
| Renaissance Capital |
$133.55 |
-$1.35 |
| SRN Advisors |
$127.00 |
-$0.86 |
| Intangible Capital |
$123.30 |
$0.00 |
| Neil Azous Revocable Trust |
$121.35 |
$0.00 |
| Humankind USA LLC |
$120.86 |
-$2.62 |
| Thor Trading Advisors LLC |
$118.60 |
$0.00 |
| Mcivy Co. LLC |
$116.37 |
$0.26 |
| Swan Global Investments |
$113.84 |
-$1.72 |
| Thrivent Financial for Lutherans |
$111.94 |
$4.85 |
| Arrow Funds |
$110.49 |
-$2.31 |
| IronHorse Holdings |
$103.88 |
$0.32 |
| Paralel Technologies LLC |
$100.27 |
$0.00 |
| Baird Financial Group |
$98.36 |
-$5.84 |
| Soundwatch Capital LLC |
$98.19 |
$0.00 |
| Federated Hermes, Inc. |
$94.79 |
$0.12 |
| Absolute Investment Advisers LLC |
$87.59 |
$0.69 |
| Angel Oak Capital Advisors, LLC |
$80.99 |
$1.00 |
| Toews Corp. |
$79.00 |
-$0.64 |
| First Manhattan Co. |
$69.82 |
$0.00 |
| Inverdale Capital Management LLC |
$67.51 |
$0.00 |
| Cohanzick Management |
$66.89 |
$0.00 |
| Panagram Structured Asset Management, LLC |
$66.83 |
$0.00 |
| Groupe BPCE |
$66.26 |
$0.77 |
| Exponential ETFs |
$65.74 |
$0.00 |
| SEI Investments |
$64.80 |
$0.00 |
| Water Island Capital |
$63.68 |
-$9.80 |
| Beyond Investing |
$63.26 |
$0.00 |
| Pettee Investors |
$63.14 |
$0.51 |
| The Leuthold Group LLC |
$62.60 |
$0.00 |
| Alexis Investment Partners LLC |
$60.88 |
$0.68 |
| Formidable Asset Management |
$56.98 |
$3.59 |
| Q3 Asset Management Corp. |
$52.91 |
-$1.96 |
| Capital Impact Advisors |
$52.38 |
$0.00 |
| Clockwise Capital LLC |
$52.33 |
$3.65 |
| ProcureAM |
$51.78 |
$0.00 |
| Logan Capital Management Inc. |
$45.90 |
$0.00 |
| GeaSphere LLC |
$45.71 |
$0.00 |
| Cambiar Holdings |
$44.09 |
-$0.01 |
| Client First Investment Management LLC |
$43.49 |
$2.36 |
| Hennessy Advisors |
$42.74 |
$0.00 |
| 2nd Vote Value Investments, Inc |
$42.16 |
$0.00 |
| Guinness Atkinson Asset Management |
$41.20 |
$0.00 |
| Alger |
$38.33 |
$1.41 |
| Ridgeline Research LLC |
$37.32 |
$0.00 |
| Acquirers Funds |
$35.39 |
$0.00 |
| Neos Investments LLC |
$34.95 |
$3.31 |
| Goose Hollow Capital Management LLC |
$34.19 |
$4.43 |
| First Pacific Advisors LP |
$30.81 |
$0.00 |
| Zacks |
$30.63 |
$0.00 |
| Valkyrie Funds LLC |
$30.40 |
$0.00 |
| Advocate Capital Management LLC |
$30.31 |
-$1.24 |
| GAMCO Investors, Inc. |
$27.77 |
$0.00 |
| Sheaff Brock Capital Management LLC |
$26.27 |
$0.00 |
| Highland Capital Management |
$26.20 |
-$0.01 |
| ASYMmetric ETFs |
$26.12 |
-$0.76 |
| PMV Capital Advisers LLC |
$24.71 |
$1.73 |
| Cultivar Capital, Inc. |
$24.30 |
$0.00 |
| Alphatrai Funds, Inc. |
$23.75 |
$0.76 |
| Convergence Investment Partners, LLC |
$23.34 |
$0.00 |
| AlphaMark Advisors |
$22.56 |
$0.00 |
| Reflection Asset Management, LLC |
$21.68 |
$0.61 |
| Faith Investor Services, LLC |
$21.27 |
$0.22 |
| Mairs & Power, Inc. |
$18.55 |
$0.00 |
| Knights of Columbus |
$17.91 |
$0.00 |
| Applied Finance Group |
$17.41 |
$0.00 |
| Build Asset Management LLC |
$17.19 |
$0.00 |
| Point Bridge Capital |
$17.11 |
$0.00 |
| Lyrical Partners |
$14.47 |
$0.60 |
| Subversive Capital Advisor LLC |
$13.82 |
$0.58 |
| Lifegoal Investments LLC |
$12.42 |
$0.43 |
| ORIX |
$12.30 |
$0.00 |
| Tuttle Tactical Management, LLC |
$11.84 |
-$1.53 |
| Changebridge Capital LLC |
$11.41 |
$0.00 |
| Democracy Investment Management LLC |
$10.88 |
$0.00 |
| WealthTrust Asset Management LLC |
$10.75 |
$0.00 |
| The BAD Investment Company |
$8.67 |
-$1.01 |
| MCCM Group LLC |
$8.34 |
$0.00 |
| Future Fund Advisors |
$8.03 |
$0.00 |
| Counterpoint Mutual Funds LLC |
$7.76 |
$0.00 |
| Rcube SAS |
$5.92 |
$0.00 |
| VegTech LLC |
$4.82 |
$0.00 |
| Digital Currency Group, Inc. |
$4.25 |
$0.00 |
| Kelly Intelligence LLC |
$3.51 |
$0.00 |
| V-Square Quantitative Management LLC |
$3.44 |
$0.00 |
| Jacob Asset Management |
$2.94 |
$0.00 |
| Emerge Capital Management, Inc. |
$2.91 |
$0.00 |
| Spear Advisors LLC |
$2.74 |
$0.00 |
| Dynamic Shares LLC |
$2.72 |
$0.00 |
| Element ETFs LLC |
$2.68 |
$0.00 |
| Penserra Capital Management LLC |
$2.02 |
$0.00 |
| Emles Advisors LLC |
$2.01 |
$0.00 |
| Cboe |
$1.95 |
$0.00 |
| Convexityshares, LLC |
$1.95 |
$0.00 |
| Dalton Capital |
$1.69 |
$0.00 |
| Hypatia Capital Advisors LLC |
$1.49 |
$0.00 |
| Inherent Wealth Fund LLC |
$1.32 |
$0.00 |
| Grizzle Investment Management LLC |
$1.02 |
$0.00 |
| Bitwise Asset Management, Inc. |
$0.64 |
$0.00 |
| Kingsbarn Capital Management LLC |
$0.56 |
$0.00 |
| Tradelegs LLC |
$0.50 |
$0.00 |
| Calamos Family Partners |
$0.00 |
$0.00 |
| Sprott Asset Management |
$0.00 |
$0.00 |
| Morgan Stanley |
$0.00 |
$0.00 |
Vanguard’s ETF suite stood out in the Issuer League over the last week with $17.6 billion in net inflows, as its AUM continues to hover just around that $2 trillion AUM market, having fluctuated up and down over the last few weeks. State Street, meanwhile, saw the next biggest number but in the opposite direction as its SPDR ETF suite saw -$4.3 billion in net outflows.
Vanguard’s strength can be attributed to more than $2 billion in net inflows each for the trio of the Vanguard High Dividend Yield Index TF (VYM), the Vanguard S&P Small-Cap 600 ETF (VIOO), and the Vanguard Total Stock Market ETF (VTI), with $2.7 billion, $2.2 billion, and $2.2 billion in net inflows respectively. Small caps have been a topic of conversation at VettaFi of late, while the dividend strength suggests ongoing market desire for current income.
SPDR’s outflows, meanwhile, were mostly attributable to regular fluctuations in the SPDR S&P 500 ETF Trust (SPY) which saw -$3.7 billion in outflows, with the inflows for the suite coming in for its Treasury focused strategies like the SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at $2 billion in net inflows.
One standout issuer in the ETF Issuer League outside of the biggest firms was the World Gold Council, which added $620 million in net inflows, the third-largest inflows across all ETF issuers for the week. Those inflows are entirely attributable to the SPDR Gold Shares ETF (GLD) at $696 million for the week. Charging 40 basis points, GLD tracks the LBMA Gold Price PM index and has outperformed its ETF Database Category Average and its Factset Segment Average YTD by 667 and 191 basis points respectively.
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