NEW YORK ( TheStreet) -- ETF investors flocked to emerging market funds in October.

While the purchase of funds like Vanguard MSCI Emerging Markets ( VWO) and iShares MSCI Emerging Markets ( EEM) was by far the most dominant trend based on flows, fixed income remains a significant destination of investor dollars.

Money was focused on inflation-protected securities and the short end of the yield curve, and a popular corporate bond ETF, iShares iBoxx Investment Grade Corporate Bond ( LQD) even saw significant outflows.

Vanguard MSCI Emerging Markets ( VW0) saw $2.2 billion in net inflows last month, closely followed by the $1.76 billion that flowed into iShares MSCI Emerging Markets ( EEM).

The sum of these two net inflows was equivalent to 45% of the net inflows across all ETFs and ETNs -- and they weren't the only emerging market funds with sizable inflows. Market Vectors Russia ( RSX) had $238 million in inflows and, more impressively, Market Vectors Brazil Small Cap ( BRF) had $195 million - which was equivalent to 67% of its September 30 AUM.

All together, the net inflows for all global and international equity long ETFs in October was $7.47 billion, or 85% of net inflows and more than 50% of the gross inflows of $13.88 billion.

The next four largest inflows were for U.S. bond funds, led by iShares Barclays TIPS ( TIP), with $589 million in net inflows; iShares Barclays 1-3 Year Credit ( CSJ), $392 million; Vanguard Barclays Total Bond ( BND), $356 million; and Vanguard Barclays Short Term Bond ( BSV), $327 million.

iShares JPM USD Emerging Market Bond ( EMB), also a U.S. dollar-denominated bond fund, was eight in terms of inflows, with $302 million.

The sum of all long bond inflows was $3.07 billion, showing investors' appetites for bonds remains strong, with the inflation protected and short-end of the yield curve most popular -- a sign of continued inflation fears. In conjunction with the huge inflows into emerging markets, it signals investors are not optimistic about the U.S. dollar and/or what that means for interest rates.

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