ETF data provider ETFGI reports that US listed ETFs and ETPs saw net outflows of USD1.49 billion during June 2018.
The firm writes that this is the third time during 2018 that US listed ETFs/ETPs have seen net outflows, following February and March.
Equity products experienced the largest net outflows during June with USD6.58 billion, while Fixed Income ETFs/ETPs gathered the largest net inflows with USD6.46 billion. ETF/ETP assets have decreased by 0.84 per cent during June to USD3.52 trillion.
According to ETFGI, fixed income ETFs/ETPs gathered the largest net inflows during June with USD6.46 billion, while equity ETFs/ETPs experienced the largest net outflows with USD6.58 billion.
ETFGI writes that monthly outflows were greatest for those products providing exposure to Emerging Markets equities, such as the iShares MSCI Emerging Markets ETF with outflows of USD5.37 billion, followed by products with US equities exposure, such as the SPDR S&P 500 ETF and the iShares Core S&P 500 ETF, with USD4.69 billion and USD3.39 billion respectively.
Year-to-date through end of June, ETFs/ETPs listed in the US have seen net inflows of USD123.31 billion. Equity products gathered the largest net inflows year-to-date with USD71.02 billion, while Leveraged ETFs/ETPs experienced the largest net outflows with USD1.62 billion.
At the end of June 2018, the US ETF/ETP industry had 2,153 ETFs/ETPs, assets of USD3.52 trillion, from 139 providers on three exchanges. ETF/ETP assets have decreased by 0.84 per cent from USD3.55 trillion at the end of May, and by 2.93 per cent year-to-date from USD3.42 trillion at the end of 2017.
Investors have tended to invest in core, market cap and lower cost ETFs during 2018, with the iShares Core MSCI EAFE ETF (IEFA US) and the iShares Core MSCI Emerging Markets ETF (IEMG US) capturing flows of USD18.07 billion and USD7.97 billion, respectively, according to ETFGI. A high proportion of net inflows year-to-date can be attributed to the top 20 ETFs by net new assets, which collectively gathered USD86.83 billion.
Similarly, the top 20 ETPs by net new assets collectively gathered USD8.01 billion year-to-date during 2018.
