May ETF Stats: Hot Streak Continues
Thursday, June 3rd, 2010Michael Johnston submits:
The latest industry figures from the National Stock Exchange are out, and despite a challenging market environment, ETFs keep rolling along. Total ETF assets fell during May from $846.7 billion to $798.0 billion, a decline of almost 6%. But that plunge was attributable primarily to declining asset values, which were partially offset by continued inflows into ETFs. Net cash flows in May came to $6.3 billion, a drop of more than 50% from the previous month, but still a rather impressive accomplishment considering the overall economic environment.
After posting a solid April, U.S. equity ETFs saw big outflows in May; $3.4 billion left these funds during the month, a big chunk of which ($2.4 billion) was attributable to the PowerShares QQQ (QQQQ). iShares saw $1.2 billion of cash outflows on the month, losing ground to both State Street ($6.5 billion in inflows) and Vanguard ($2.2 billion in inflows). Among the smaller issuers, PIMCO and Global X turned in impressive performances. PIMCO took in $622 million, equal to a whopping 67% of April assets. Global X took in $46 million, or about 30% of April assets, thanks to a hot start to its Silver Miners ETF (SIL). Both issuers saw net increases in assets on the month, making them among a select few for May.
