By Deborah Fuhr, Managing Partner at ETFGI
ETFGI reported today that equity-based Smart Beta ETFs and ETPs listed globally gathered net inflows of US$3.40 billion during February bringing year-to-date net inflows to US$10.13 billion which is lower than the US$14.67 billion gathered at this point last year.
Year-to-date through the end of February 2020, Smart Beta Equity ETF/ETP assets have decreased by 8.5% from US$860 billion to US$787 billion, which is the 5thhighest level of assets on record, according to ETFGI’s February 2020 ETF and ETP Smart Beta industry landscape insights report. (All dollar values in USD unless otherwise noted.)
- Equity Smart Beta ETFs/ETPs attracted $3.40 billion in net inflows in February
- Assets invested in Smart Beta Equity ETFs/ETPs decreased to $787 billion, but are at the 5thhighest level on record.
“At the end of February, the S&P 500 was down 8.2% as coronavirus cases continued to spread and the potential economic impact weighed on investors and the markets. Outside the U.S., the S&P Developed ex-U.S. BMI declined nearly 9.0%. The S&P Emerging BMI lost 5.1% during the month. Global equities as measured by the S&P Global BMI ended down 8.1% with 49 of 50 included country indices down, while China gained 0.9%.” According to Deborah Fuhr, managing partner, founder and owner of ETFGI.
At the end of February 2020, there were 1,311 smart beta equity ETFs/ETPs, with 2,476 listings, assets of $787 billion, from 165 providers listed on 41 exchanges in 33 countries. Following net inflows of $3.40 billion and market moves during the month, assets invested in Smart Beta ETFs/ETPs listed globally decreased by 8.2%, from $857 billion at the end of January 2020 to $787 billion.
Comparison of assets in market cap, smart beta, other and active equity products
DividendsETFs and ETPs attracted the greatest monthly net inflows, gathering $1.76 billion at the end of February. Multi-Factor ETFs and ETPs suffered the greatest outflows during the month and amounted to $1.75 billion.
Substantial inflows can be attributed to the top 20 Smart Beta ETFs/ETPs by net new assets, which collectively gathered $6.74 billion at the end of February, the iShares MSCI USA Minimum Volatility ETF (USMV US) gathered $798 million alone.
Top 20 Smart Beta ETFs/ETPs by net new assets February 2020
|iShares MSCI USA Minimum Volatility ETF||USMV US||35,816.85||874.74||798.44|
|Invesco S&P 500 Low Volatility ETF||SPLV US||11,845.25||775.71||726.98|
|Vanguard Dividend Appreciation ETF||VIG US||39,299.46||571.82||700.08|
|iShares Edge MSCI USA Momentum Factor ETF||MTUM US||9,799.22||858.72||644.19|
|iShares Edge MSCI USA Quality Factor ETF||QUAL US||16,008.50||1,267.26||447.64|
|SPDR S&P Kensho New Economies Composite ETF||KOMP US||491.16||435.59||422.11|
|SPDR S&P Euro Dividend Aristocrats UCITS ETF||SPYW GY||2,227.86||390.69||363.57|
|Vanguard Value ETF||VTV US||49,682.85||678.01||340.18|
|iShares Edge MSCI World Momentum Factor UCITS ETF||IWMO LN||1,594.72||481.01||301.75|
|iShares Core Dividend Growth ETF||DGRO US||9,750.72||608.10||277.92|
|SPDR Portfolio S&P 500 Growth ETF||SPYG US||6,210.93||1,186.24||262.32|
|First Trust Value Line Dividend Index Fund||FVD US||9,350.44||725.80||262.24|
|iShares Edge MSCI Europe Minimum Volatility UCITS ETF||MVEU LN||1,449.32||206.76||206.32|
|Schwab US Dividend Equity ETF||SCHD US||10,690.46||369.85||171.30|
|iShares Edge MSCI World Minimum Volatility UCITS ETF||MVOL LN||4,473.48||688.15||153.24|
|iShares Edge MSCI Minimum Volatility EAFE ETF||EFAV US||12,190.70||201.61||149.22|
|SPDR Portfolio S&P 500 Value ETF||SPYV US||3,901.94||(584.17)||131.85|
|China Southern S and P China A-share Large Cap Dividend Low Volatility 50 ETF||515450 CH||131.21||131.78||131.78|
|Vanguard Mega Cap Growth ETF||MGK US||5,299.15||319.89||127.92|
|Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF||GSLC US||7,487.49||621.46||117.62|