Though U.S. ETF net assets under management were up slightly month over month, settling at $1.02 trillion by the end of January, flows tempered their pace. Total net flows fell to just over $11 billion from $18 billion during the first month of the year.
Although U.S. stock ETFs drove inflows in January for ETFs overall, inflows for the asset class were down nearly 50% month over month, according to Morningstar data. U.S. stock ETFs saw inflows of $9.9 billion in January, compared to $17.2 billion in December.
Commodities ETFs lost $1.7 billion in January to lead outflows among the ETF asset classes, and precious metals ETFs were responsible for the majority of these redemptions. However, several futures-based broad agricultural commodities funds saw inflows.
After outflows in December, taxable-bond ETFs took in approximately $2.9 billion in January to mark the month’s second-highest inflows by asset class, behind U.S. stock ETFs.
International-stock ETFs, which had the second-highest inflows in 2010 among the ETF asset classes, saw modest outflows of $491 million in January.
The Morningstar data is at http://corporate.morningstar.com/us/documents/FundFlows/FundFlowsFeb2011.pdf.