Vanguard, iShares dominate ETFs in April

The 20 funds with the largest inflow come from two firms

Apr 25, 2017 @ 2:26 pm

By John Waggoner

If you're an ETF provider, you'd probably like to have one of your products be on the list of the 10 highest asset flows for the year.

Good luck with that. So far this year, Vanguard and iShares are the only ETF producers on the list of the 20 top sellers this year. All told, the two companies have seen an estimated $70.3 billion in new money, according to Morningstar, with iShares accounting for $41.9 billion.

In an industry with about 600 providers, the dominance of iShares and Vanguard is striking. As of the end of March, iShares had 38.6% of the ETF market share, with $1.1 trillion in assets; Vanguard had 24.3% of the industry market share, with $681 billion. State Street, producers of SPDR products, came in third with a 19.1% market share and $537 billion in assets. All other providers were scrapping for the remaining 18% of the industry.

The biggest gainer: iShares Core S&P 500 (IVV), with $9 billion in estimated net new cash. iShares Core MSCI Emerging markets (IEMG) and iShares Core MSCI (IEFA) take up second and third place, with $7.3 billion and $6.2 billion in fresh cash, respectively.

International stocks have surged this month on the heels of the French election: The MSCI Europe, Australia and Far East index has jumped 1.8%, versus 0.59% for the Standard & Poor's 500 stock index. This year, EAFE has gained 8.4%, versus 6.7% for the S&P 500.

Notably absent: The $229.7 billion SPDR S&P 500 ETF (SPY), which saw $5.3 billion flee through April 21, according to Morningstar. "The fund has had outflows in April as some of the exuberance of the Trump trade waned," said Matthew Bartolini, head of SPDR America research. "After the election, the fund took in $8 billion over a few months, and we've seen some of that money leave."

Other funds that have watched money head for the exits: iShares Russell 2000 (IWM), which saw $2.9 billion in net outflows, and First Trust Energy Alphadex ETF (FXN), down about $1 billion. Monthly flows can be extremely volatile, however, and can often change radically — even week to week.

ETFs with largest inflows
NameTickerYTD Flows
iShares Core S&P 500IVV
$9.01B
iShares Core MSCI Emerging MarketsIEMG
$7.30B
iShares Core MSCI EAFEIEFA
$6.17B
Vanguard FTSE Developed Markets ETFVEA
$5.46B
Vanguard 500 ETFVOO
$4.81B
iShares MSCI EAFEEFA
$3.63B
iShares iBoxx $ Invst Grade Crp BondLQD
$3.46B
iShares Core S&P Mid-CapIJH
$3.26B
Vanguard Total Stock Market ETFVTI
$3.21B
Vanguard FTSE Emerging Markets ETFVWO
$3.15B
Vanguard Interm-Term Corp Bd ETFVCIT
$3.12B
iShares Core S&P Small-CapIJR
$3.09B
Vanguard Short-Term Corporate Bond ETFVCSH
$2.47B
Vanguard Value ETFVTV
$2.45B
iShares JPMorgan USD Emerg Markets BondEMB
$2.29B
iShares Core US Aggregate BondAGG
$2.01B
Vanguard Short-Term Bond ETFBSV
$1.92B
Vanguard Total Bond Market ETFBND
$1.79B
iShares Core S&P Total US Stock MktITOT
$1.65B
SPDR® Gold SharesGLD
$1.55B
Vanguard Interm-Term Bond ETFBIV
$1.51B
iShares MSCI EurozoneEZU
$1.48B
Technology Select Sector SPDR® ETFXLK
$1.45B
Schwab International Equity ETF™SCHF
$1.41B
iShares Floating Rate BondFLOT
$1.39B
Source: Morningstar Inc. As of April 21, 2017

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