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January 09, 2023 at 03:04 PM
Vanguard led the U.S. market in exchange-traded fund inflows in 2022, outpacing the industry’s biggest player in assets under management, BlackRock’s iShares, for the third consecutive year, according to recent data.
Last year ranked second for U.S. ETF industry inflows after a record 2021, roughly $600 billion in 2022 compared with $900 billion the previous year, with data from difference sources varying somewhat.
Investors looking for safety in a turbulent market turned heavily to ETFs, research firm Morningstar noted.
Vanguard saw $192 billion in new funds versus $171 billion for iShares, according to data from ETF.com. Morningstar estimated similar figures for the firms’ 2022 ETF inflows — $192.7 billon for Vanguard and $165.5 billion for iShares.
Pacific Investment Management Co. led in ETF outflows, according to research from ETF.com, which found that three debt-focused ETFs led PIMCO’s almost $3.4 billion in outflows.
Morningstar noted last week that Vanguard held 25.8% of U.S. ETF market share at year-end 2019 versus 38.7% for iShares, while at year-end 2022, Vanguard represented 29% compared with 33.8% for iShares.
“Vanguard secured its annual flows three-peat with sustained success from its plain-vanilla stock index funds. Its stock ETFs reeled in $143.5 billion in 2022 — about twice as much as iShares’ equity lineup, which is about the same size,” Morningstar Research Services manager research analyst Ryan Jackson wrote in a post last week.
