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TheStreet Ratings

Equities Top July ETF Fund Flows

 

NEW YORK (TheStreet Ratings) -- Each month, the ETF Industry Association) analyzes the assets under management and the net cash flow data for a growing list of U.S. exchange-traded funds. Net cash inflows totaling $17.1 billion in July brought ETF net cash inflows year-to-data up to $93.0 billion.

Overall assets under management in exchange-traded products, covering 1,486 exchange-traded funds and exchange-traded notes, surged by $55.7 billion in July to end at $1.21 trillion. All of the asset and flow data included in this article was released on Thursday, August 2nd by the ETF Industry Association.

Total net inflows to U.S. equity exchange-traded products accelerated in July reaching $14.2 billion for the month. U.S. equity funds represent the largest recipient of new money at $36.9 billion year-to-date surpassing the inflow to fixed income funds. $2.9 billion flowed into SPDR S&P 500 (SPY) adding to the year-to-date net inflow of $3.5 billion. PowerShares QQQ (QQQ) pulled in a $528 million net cash flow in July along with $855 million into SPDR DJIA (DIA), $1.6 billion into iShares Russell 2000 (IWM), $823 million into iShares S&P 100 (OEF), and $540 million into iShares S&P 500 (IVV).

$3.0 billion flowed into the global and international equity ETF category, second only to U.S. equity inflows for July. The largest July inflows came to Vanguard MSCI Emerging Markets (VWO) at $1.5 billion, increasing year-to-date cash inflows to $9.0 billion. Vanguard MSCI EAFE (VEA) at $265 million and Wisdom Tree EM Equity Income (DEM) at $107 million had decent inflows for July.

In the 19th consecutive month of net inflows, another $470 million entered fixed income ETFs in July setting the mark for year-to-date inflow at $35.5 billion. Fixed income funds attracting the largest July inflows were $968 million into iShares iBoxx High Yield Corp Bond (HYG) and $620 million into SPDR Barclays High Yield Bond (JNK). $1.6 billion flowing out of iShares Barclays 1-3 Yr Treas (SHY) and $523 million exiting iShares Barclays 7-10 Yr Treas (IEF) limited the overall increase in new cash to fixed income ETFs.

Some of the largest July 2012 inflows included $481 million to iShares DJ US Select Dividend (DVY), $482 million to iShares S&P US Preferred Stock (PFF), and $588 million to iShares JPM USD Emerging Mkt Bond (EMB).

Some of the largest July 2012 outflows included $1.4 billion from SPDR Gold (GLD), $239 million from iShares Barclays TIPS (TIP), and $262 million from iShares Barclays 1-3 Yr Credit (CSJ).

Among the exchange-traded fund issuers for July 2012, SSgA accumulated the most inflows at $4.33 billion. This was followed by Vanguard bringing in net cash flows of $4.29 billion, Blackrock (BLK) at $3.83, Invesco/PowerShares inflows at $1.34 billion, and PIMCO inflows at $669 million.

-- Reported by Kevin Baker in Palm Beach Gardens, Fla.

For additional Investment Research check out our Ratings Research Center.

Kevin Baker became the senior financial analyst for TheStreet Ratings upon the August 2006 acquisition of Weiss Ratings by TheStreet.com, covering equity and mutual fund ratings. He joined the Weiss Group in 1997 as a banking and brokerage analyst. In 1999, he created the Weiss Group's first ratings to gauge the level of risk in U.S. equities. Baker received a B.S. degree in management from Rensselaer Polytechnic Institute and an M.B.A. with a finance specialization from Nova Southeastern University.

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