“We are grateful that investors continue to entrust their assets to Vanguard’s low-cost ETFs, but we don’t view this as an asset-gathering horse race. Cash flow is never a goal at Vanguard. We remain focused on delivering value for our clients — if they are successful, then we will be successful,” Vanguard told the Financial Times.

After experiencing a breakneck speed of asset growth, the ETF industry has slowed down in 2018 in response diminished demand for risk on heightened market volatility, concerns over global trade barriers and rising interest rates.

“Despite an industry-wide slowdown in flows associated with investor uncertainty in the current market environment, our dialogue with clients and opportunities to provide long-term solutions are more robust than ever before,” according to BlackRock.

For more information on the ETF industry, visit our ETF performance reports category.