U.S.-listed exchange-traded funds and products suffered net outflows of $3 billion in March after giving up $10.6 billion in February, the independent research and consultancy firm ETFGI reported this week.
The report said the majority of these outflows could be ascribed to the top 20 ETFs by net outflows, which collectively have hemorrhaged $52 billion during 2018. SPDR S&P 500 ETF Trust (SPY US) on its own accounted for net outflows of $14.5 billion.
Among other ETFs with large first-quarter outflows were these:
- iShares MSCI EAFE ETF (EFA US): $6.4 billion
- iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD US): $5.7 billion
- iShares Russell 1000 Value ETF (IWD US): $3.8 billion
- iShares iBoxx $ High Yield Corporate Bond ETF (HYG US): $3.2 billion
- SPDR Bloomberg Barclays High Yield Bond ETF (JNK US): $3.2 billion
- Wisdom Tree Japan Hedged Equity Fund (DXJ US): $2.4 billion
- Vanguard Real Estate ETF (VNQ US): $2.2 billion
- Wisdom Tree Europe Hedge Equity Fund (HEDJ US): $1.1 billion
- iShares MSCI Eurozone ETF (EZU US): $1.1 billion
Year to date through March, U.S.-listed funds had net inflows of $65 billion, way off the $134 billion recorded for the same period in 2017.
At the end of the first quarter, the U.S. ETF/ETP industry had 2,180 funds from 138 providers on three exchanges, with $3.4 trillion in assets.
ETFGI reported that ETFs/ETPs listed globally had net inflows of $19 billion in March, the 50th consecutive month of net inflows, albeit 72% below net inflows in March 2017.