Nineteen of the top 20 global, and US, providers secured net inflows in September as the ETF industry continues to grow its market share.
US
The second largest global ETF provider, Vanguard, won $36.48 billion - more inflows than the largest, iShares, and third largest, SPDR, put together. Over 90% of Vanguard’s inflows came from the US market.
The individual ETF receiving most inflows was SPDR’s SPY at $15.01 billion, followed by Vanguard’s S&P 500 tracker VOO garnering nearly $11 billion.
Europe
In Europe, the leader iShares again led inflows with $9.51 billion, followed by the second biggest provider Trickers pulling in $4.63 billion. The third and fourth largest providers, Vanguard and Amundi, both secured around $2 billion of inflows, and both have about 8% of the market.
IEAC, the iShares core corporate bond ETF, led inflows with $1.59 billion, and IWDA, the iShares MSCI World tracker, got nearly as much. No other European listed ETF attracted more than $1 billion. The third most popular in September was iShares’ emerging market equity tracker EIMI.
Asia
iShares has only 5% of the Asian ETF market but won the largest inflows of over $2 billion. Part of this came from its China A50 tracker, 2823. Investors were well positioned for the late September and early October surge in Chinese equities, which are now ahead of US equities for year to date performance.
Cathay has only 7% of the Asian market but got the second largest inflows of $1.7 billion, mainly from its 20 year US Treasury product and the sustainability high dividend ETF that has been one of the most popular Asian ETFs throughout this year.
Commodities
In commodities the number one and two players, SPDR and iShares, also got the first and second largest inflows of $1.25 billion and $595 million. SPDR’s gold ETF, GLD, was most popular and iShares’ gold trust IAU was second as the yellow metal makes new highs. Elsewhere in precious metals, iShares’ silver fund, SLV, was in third place and no other commodity ETFs gathered more than $100 million of net inflows. In Europe, gold ETFs from Graniteshares and SPDR were also in the top three spots for inflows along with BCCMS, a broader Bloomberg commodity index tracker ETF from UBS
Cryptocurrencies
In US cryptocurrency ETFs, iShares has now overtaken Grayscale as the largest provider. iShares’ September inflows of around half a billion USD were the mirror image of Grayscale’s outflows, and we surmise that investors are switching into lower cost ETFs.
In European crypto ETFs, the largest player, 21 Shares, got the second largest inflows but it was Hashdex, which uses the ticker DEFI for its bitcoin ETF, that gathered the most assets.