ETFGI reported that assets invested in Smart Beta ETFs and ETPs listed globally reached a new high of US$680 billion, following net inflows of US$5.90 billion and market moves during August…
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By Deborah Fuhr, Managing Partner at ETFGI
Strong inflows during the month were primarily driven by US equities, according to ETFGI’s August 2018 Smart Beta: Global ETF and ETP industry landscape insights repor. (All dollar values in USD unless otherwise noted.)
Highlights
Total Assets in Smart Beta ETFs and ETPs listed globally reached a record $680 Bn at the end of August.
Net new assets gathered by ETFs/ETPs listed globally were $5.90 Bn in August.
31st consecutive months of net inflows into Smart Beta ETFs/ETPs listed globally.
“On August 22, 2018 the S&P 500 marked its longest bull market – 3,453 days, without a bear market – a 20% drop from the index’s 52-week high.
August was a strong month for U.S. equities with economic strength and strong corporate earnings pushing the S&P 500 to reach record highs and gain 3.26% during the month and up 9.94% year to date.
Most non-US markets suffered declines during August due to investors’ concerns over trade tensions, Brexit, currency crises and a fear of contagion.
Developed markets ex US declined 1.44% in August while up 0.46% YTD, EM markets were down 3.51% and are down 0.81% YTD and Frontier markets were down 4.50% and are down 1.66% YTD.” according to Deborah Fuhr, managing partner and a founder of ETFGI.
At the end of August 2018, the Global Smart Beta ETF/ETP industry had 1,240 ETFs/ETPs, with 2,265 listings, assets of $680 Bn, from 151 providers listed on 38 exchanges in 31 countries.
Following net inflows of $5.90 Bn and market moves during the month, assets invested in ETFs/ETPs listed globally increased by 3.19%, from $659 Bn in July 2018 to $680 Bn.
Comparison of assets in market cap, smart beta, other and active equity products
August marked the 31th consecutive month of net inflows into ETFs/ETPs listed globally, Year-to-date, Assets held by Smart Beta products have increased 12.1% from $607 Bn. Value factor ETFs/ETPs attracted the greatest net inflows during August, with $2.14 Bn, bringing year-to-date net inflows to $12.15 Bn.
Substantial inflows during August can be attributed to the top 20 Smart Beta ETFs by net new assets, which collectively gathered $5.59 Bn. The Vanguard Value ETF (VTV US) gathered $821 Mn, the largest net inflows in August.
Top 20 Smart Beta ETFs by net new assets August 2018: Global
| Name | Ticker | Assets (US$ Mn) Aug-18 |
ADV (US$ Mn) Aug-18 |
NNA (US$ Mn) YTD 2018 |
NNA (US$ Mn) Aug-18 |
| Vanguard Value ETF | VTV US | 43,764 | 139 | 5,439 | 821 |
| iShares Edge MSCI USA Momentum Factor ETF | MTUM US | 10,320 | 97 | 3,830 | 573 |
| iShares MSCI USA Minimum Volatility ETF | USMV US | 16,236 | 92 | 80 | 572 |
| Vanguard Dividend Appreciation ETF | VIG US | 30,063 | 75 | 759 | 354 |
| SPDR S&P 600 Small Cap Value ETF | SLYV US | 2,084 | 27 | 795 | 340 |
| MAXIS NIKKEI225 ETF | 1346 JP | 13,233 | 8 | 1,365 | 312 |
| iShares Edge MSCI USA Quality Factor ETF | QUAL US | 6,268 | 36 | 1,456 | 269 |
| One ETF Nikkei 225 | 1369 JP | 3,469 | 0 | 533 | 266 |
| Invesco Canadian Dividend Index ETF | PDC CN | 512 | 12 | 297 | 229 |
| iShares S&P Small-Cap 600 Value ETF | IJS US | 7,032 | 27 | 992 | 212 |
| Franklin LibertyQ US Equity ETF | FLQL US | 385 | 11 | 255 | 209 |
| Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF | GSLC US | 3,980 | 24 | 922 | 188 |
| iShares Core Dividend Growth ETF | DGRO US | 4,257 | 23 | 1,354 | 186 |
| Daiwa ETF NIKKEI 225 | 1320 JP | 23,902 | 9 | 1,658 | 176 |
| iShares U.S. Preferred Stock ETF | PFF US | 17,223 | 98 | (386) | 170 |
| Vanguard Mid-Cap Value ETF | VOE US | 9,374 | 31 | 779 | 154 |
| iShares Edge MSCI Minimum Volatility Emerging Markets ETF | EEMV US | 4,667 | 31 | 156 | 146 |
| iShares S&P Small-Cap 600 Growth ETF | IJT US | 7,254 | 32 | 1,022 | 142 |
| First Trust NYSE Arca Biotechnology Index Fund | FBT US | 2,318 | 15 | 736 | 136 |
| SciBeta HFE Europe Equity 6F EW UCITS ETF | EHEF LN | 207 | 0 | 178 | 131 |
Top 10 Smart Beta ETPs by net new assets August 2018: Global
| Name | Ticker | Assets (US$ Mn) Aug-18 |
ADV (US$ Mn) Aug-18 |
NNA (US$ Mn) Aug-2018 |
NNA (US$ Mn) Aug-18 |
|
| iPath S&P 500 VIX Short-Term Futures ETN | VXX US | 980 | 1,158 | (355) | 227 | |
| VelocityShares Daily 2x VIX Short Term ETN | TVIX US | 531 | 345 | 537 | 174 | |
| VelocityShares Daily 3x Inverse Natural Gas ETN | DGAZ US | 311 | 128 | 84 | 137 | |
| MicroSectors FANG+ Index 3X Leveraged ETNs | FNGU US | 158 | 6 | 135 | 77 | |
| MicroSectors FANG Index 2X Leveraged ETN | FNGO US | 56 | (0) | 53 | 53 | |
| MicroSectors FANG Index Inverse ETN | GNAF US | 47 | (0) | 49 | 49 | |
| MicroSectors FANG Index 2X Inverse Leveraged ETN | FNGZ US | 44 | (0) | 47 | 47 | |
| FI Enhanced Global High Yield ETN | FIHD US | 1,444 | 4 | 330 | 34 | |
| ProShares VIX Short-Term Futures | VIXY US | 146 | 54 | (36) | 26 | |
| ProShares Ultra VIX Short-Term Futures | UVXY US | 593 | 294 | 138 | 19 | |
Investors have tended to invest in value and multi-factor methodology ETFs in August.
Fonte:ETFWorld.it
