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ETFGI reports asset growth and net inflows in global ETFs ETPs industry continues to outpace global Hedge Fund industry in Q4 2018

ETFGI Etfs

ETFGI reported that assets invested in ETFs and ETPs listed globally amounted to US$4.82 trillion at the end of Q4 2018, following net inflows of US$164.84 billion and market moves during the period…..

By Deborah Fuhr, Managing Partner at ETFGI


The Global Hedge Fund industry saw assets fall to US$3.11 trillion, with net outflows of US$22.5 billion during the quarter, according to ETFGI’s Q4 2018 Global ETF and ETP industry landscape insights report, an annual paid-for research subscription service.  (All dollar values in USD unless otherwise noted.)

Highlights

    Asset growth of global ETF/ETP industry continues to outpace global Hedge Fund industry. 

    $4.82 trillion invested in 7,620 ETFs/ETPs listed globally at end of 2018.

    $3.11 trillion invested in 8,311 Hedge Funds listed globally at end of 2018.

According to analysis by ETFGI, $4.82 Tn was invested in 7,620 ETFs/ETPs listed globally at the end of 2018, representing growth in assets of -0.49% over the year, impacted by sharp declines in the major indices during the last quarter.

During 2018, assets invested in Hedge Funds globally fell by 3.24% to $3.11 Tn in 8,311 hedge funds, according to a report by Hedge Fund Research.

Comparatively, assets invested in ETFs/ETPs had increased 36.23%, from $3.55 Tn to $4.84 Tn in 2017. Over the same period, assets invested in the Global hedge fund industry increased 6.37%, from $3.02 Tn to $3.22 Tn.

The HFRI Fund weighted composite index returned -5.76% in Q4 compared to -13.52% of the S&P 500 index (w/dividends), as many Hedge Funds strategies positioned for a market correction finally came to fruition.

Despite this, investors still ploughed money into passive funds, with ETFs/ETPs attracting $164.84 Bn in Q4, while withdrawing $22.5 Bn from Hedge Funds.

Assets invested in the global ETF/ETP industry first surpassed those invested in the hedge fund industry at the end of Q2 2015, as ETFGI had forecasted.

Growth in assets in the ETF/ETP industry has outpaced growth in the hedge fund industry since the financial crisis in 2008.

In 2018 the return of the S&P 500 Index was marginally better than the performance of the HFRI Fund weighted Composite index: -4.39% vs. -4.49%, respectively.

Returns of the HFRI Fund Weighted Composite Index and the S&P 500 Index

Year

HFRI Fund Weighted

S&P 500

Composite Index

Index w/ dividends

2011

-5.25%

2.09%

2012

6.36%

15.99%

2013

9.13%

32.36%

2014

2.98%

13.65%

2015

-1.12%

1.38%

2016

5.44%

11.93%

2017

8.68%

21.80%

2018

-4.49%

-4.39%

Sources: Hedge Fund Research HFR, S&P Dow Jones Indices

During 2018, ETFs/ETPs listed globally gathered $516 Bn in net inflows, according to ETFGI’s Global ETF and ETP industry insight report. December 2018 also marked the 59th consecutive month of net inflows into ETFs/ETPs. Over the same period, HFR reported net outflows of $33.5 Bn from Hedge Funds. Assets invested in the global ETF/ETP industry continue to grow, extending their lead over assets invested in the global hedge fund industry, the gap widening by 5.30%, from $1.62 Tn at the end of 2017 to $1.71 Tn.

The top 20 ETFs by net new assets in 2018, collectively gathered $206 Bn. The TOPIX Exchange Traded Fund (1306 JP) alone accounted for net inflows of $22.29 Bn over the period.

Top 20 ETFs by net new assets 2018: Global

Name

Ticker

Assets
(US$ Mn)
Dec-18

NNA
(US$ Mn)
Dec-18

NNA
(US$ Mn)
2018

TOPIX Exchange Traded Fund 1306 JP

71,167

2,166

22,288

iShares Core MSCI EAFE ETF IEFA US

52,331

860

20,802

iShares Core S&P 500 ETF IVV US

147,540

2,470

18,592

iShares Core MSCI Emerging Markets ETF IEMG US

49,202

1,142

15,738

Vanguard S&P 500 ETF VOO US

90,519

(2,092)

13,418

iShares Short Treasury Bond ETF SHV US

20,690

3,340

12,672

Daiwa ETF TOPIX 1305 JP

34,176

1,355

11,166

Vanguard Total Stock Market ETF VTI US

93,577

1,987

9,848

Vanguard FTSE Developed Markets ETF VEA US

65,145

2,080

9,639

iShares 1-3 Year Treasury Bond ETF SHY US

20,624

3,357

9,288

Listed Index Fund TOPIX 1308 JP

31,765

1,264

9,198

Vanguard Value ETF VTV US

41,408

1,167

8,404

Nikkei 225 Exchange Traded Fund 1321 JP

50,018

1,210

7,319

SPDR Bloomberg Barclays 1-3 Month T-Bill ETF BIL US

8,668

1,696

6,724

iShares Core S&P Small-Cap ETF IJR US

37,292

8

5,733

iShares Core MSCI Total International Stock ETF IXUS US

11,989

299

5,693

iShares Core U.S. Aggregate Bond ETF AGG US

57,078

2,669

5,559

JPMorgan Ultra-Short Income ETF JPST US

5,129

719

5,065

iShares Floating Rate Bond ETF FLOT US

11,319

(1,003)

4,830

iShares Core S&P 500 UCITS ETF CSSPX SW

28,664

(229)

4,559

https://etfgi.com/sites/default/files/styles/feature_image/public/source_3.png?itok=sw3zyEon

 

 

Similarly, the top 10 ETPs by net new assets collectively gathered $9.99 Bn by the end of 2018.

Top 10 ETPs by net new assets 2018: Global

Name

       Ticker

Assets
(US$ Mn)
Dec-18

NNA
(US$ Mn)
Dec-18

NNA
(US$ Mn)
2018

Xtrackers Physical Gold ETC (EUR) XAD5 GY

2,536

110

1,884

iShares Gold Trust IAU US

11,545

345

1,599

Barclays ETN+ FI Enhanced Global High Yield ETN FIYY US

1,285

(39)

1,259

iShares Physical Gold ETC SGLN LN

4,350

635

1,170

ProShares Short VIX Short-Term Futures SVXY US

338

0

1,051

Barclays ETN+ FI Enhanced Europe 50 ETN FFEU US

616

16

806

NH QV KOSPI Volatility Matching Strangle ETN 57 550057 KS

629

623

623

ETFS Physical Gold PHAU LN

6,662

295

536

VelocityShares Daily 3x Inverse Natural Gas ETN DGAZ US

377

(382)

534

FI Enhanced Global High Yield ETN FIHD US

1,391

70

528

https://etfgi.com/sites/default/files/styles/feature_image/public/source_3.png?itok=sw3zyEon
Source: ETFWorld

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