ETF Assets Fall in June
State Street’s latest ETF Snapshot reveals assets in the U.S. exchange traded fund (ETF) industry totaled approximately $772 billion as of June 30 – down $11.7 billion or 1.5% during the month.
Through the first half of the year, ETF assets were down $3.5 billion or 0.4%. As of June 30, 897 ETFs were managed by 33 ETF managers.
The reported noted that the S&P 500 Index fell 5.2% while the MSCI EAFE Index fell 1%, in June. U.S. bonds rose, with the Barclays U.S. Treasury Index gaining 1.9% and the Barclays U.S. Aggregate Index climbing 1.6%. Gold rose $37 to $1,244 per ounce.
Declines in the Size and Style categories accounted for the majority of the total drop in ETF AUM. The Fixed Income and Commodity categories rose $6.2 billion and $3.1 billion, respectively.
Year to date, the only areas with positive asset growth are Commodities, up $11 billion; Fixed Income, up $21 billion; Dividend/Fundamental, up $2 billion; and Inverse/Leveraged, up $1.8 billion.
Large Cap assets fell $3.9 billion, followed by Small Cap, down $2.2 billion. All Sector categories declined in assets except Utilities, which gained $55 million. Energy and Financials each fell over $1 billion in assets for the month.
According to the report, the top three managers in the U.S. ETF marketplace at the end of June were BlackRock, State Street, and Vanguard. Collectively, they accounted for approximately 84% of the U.S.-listed ETF market.
The top three ETFs in terms of dollar volume traded for the month were: the SPDR S&P 500 [SPY], iShares Russell 2000 [IWM], and PowerShares QQQ [QQQQ]. SPDR Gold Shares [GLD] saw the most inflows, $2.3 billion, followed by SPDR S&P 500, $1.6 billion.