LONDON — December 11, 2024 — ETFGI, a leading independent research and consultancy firm renowned for its expertise in subscription research, consulting services, events, and ETF TV on global ETF industry trends, reported today record net inflows and record assets invested in the ETFs industry in the United States of US$164.43 billion and US$10.6 trillion respectively at the end of November. The ETFs industry in the United States gathered net inflows of US$164.43 billion during November, bringing year-to-date net inflows to a record US$1.03 trillion. During the month, assets invested in US ETF/ETP industry increased by 6.1%, from US$9.98 trillion at the end of October 2024 to US$10.59 trillion in November 2024, according to ETFGI's November 2024 US ETFs and ETPs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)
Highlights
- Assets invested in the ETFs industry in the United States reached a record of $10.6 Tn at the end of November beating the previous record of $10 Tn at the end of September 2024.
- Assets have increased 30.5% YTD in 2024, going from $8.11 Tn at end of 2023 to $10.59 Tn.
- Net inflows of $164.43 Bn gathered in November.
- YTD net inflows of $1.03 Tn are the highest on record, followed by YTD net inflows of $803.40 Bn for 2021 and the third highest recorded YTD net inflows are of $561.79 Bn in 2022.
- YTD net inflows of $1.03 Tn are larger than the full year record NNA of US$919.78 Bn gathered in 2021.
- 31st month of consecutive net inflows.
“The S&P 500 index increased by 5.87% in November and is up 28.07% YTD in 2024. The developed markets excluding the US index increased by 0.11% in November and is up 6.77% YTD in 2024. Israel (up 8.86%) and US (up 6.46%) saw the largest increases amongst the developed markets in November. The emerging markets index decreased by 2.77% during November but is up 11.75% YTD in 2024. Indonesia (down 6.17%) and Philippines (down 6.05%) saw the largest decreases amongst emerging markets in November”, according to Deborah Fuhr, managing partner, founder, and owner of ETFGI.
Growth in assets in the ETFs industry in the United States as of the end of November
At the end of November, the ETFs industry in the United States had 3,854 products, assets of $10.6 Tn, from 348 providers listed on 3 exchanges.
During November, ETFs gathered net inflows of $164.43 Bn. Equity ETFs gathered net inflows of $106.02 Bn in November, bringing YTD net inflows to $506.24 Bn, much higher than the $205.95 Bn in YTD net inflows in 2023. Fixed income ETFs reported net inflows of $14.30 Bn during November, bringing YTD net inflows to $176.04 Bn, higher than the $151.94 Bn in YTD net inflows in 2023. Commodities ETFs reported net outflows of $603.78 Mn during November, bringing YTD net inflows to $2.91 Bn, higher than the $8.77 Bn in YTD net outflows in 2023. Active ETFs attracted net inflows of $37.07 Bn during the month, gathering YTD net inflows of $276.47 Bn, much higher than the $124.05 Bn in YTD net inflows in 2023.
Substantial inflows can be attributed to the top 20 ETF‘s by net new assets, which collectively gathered $91.85 Bn in November. Vanguard S&P 500 ETF (VOO US) gathered $19.48 Bn, the largest individual net inflow.
Top 20 ETFs by net new assets November 2024: US
| Name | Ticker | Assets ($ Mn) Nov-24 | NNA ($ Mn) YTD-24 | NNA ($ Mn) Nov-24 |
| Vanguard S&P 500 ETF | VOO US | 589,023.57 | 105,114.85 | 19,477.23 |
| SPDR S&P 500 ETF Trust | SPY US | 631,177.41 | 10,252.77 | 11,480.40 |
| Invesco QQQ Trust | QQQ US | 316,976.81 | 28,090.42 | 9,116.19 |
| iShares Core S&P 500 ETF | IVV US | 571,124.45 | 63,596.50 | 7,707.36 |
| iShares Russell 2000 ETF | IWM US | 81,596.29 | 2,021.41 | 6,327.85 |
| iShares Bitcoin Trust | IBIT US | 48,427.82 | 31,750.66 | 5,602.04 |
| Invesco S&P 500 Equal Weight ETF | RSP US | 73,976.65 | 13,871.35 | 3,871.88 |
| Financial Select Sector SPDR Fund | XLF US | 53,033.51 | 5,936.94 | 3,717.28 |
| Vanguard Total Bond Market ETF | BND US | 121,611.08 | 16,947.18 | 2,932.24 |
| iShares Edge MSCI USA Momentum Factor ETF | MTUM US | 13,871.40 | 2,354.09 | 2,810.18 |
| SPDR Portfolio S&P 500 ETF | SPLG US | 53,381.76 | 18,401.22 | 2,413.66 |
| Vanguard Growth ETF | VUG US | 153,250.47 | 13,895.46 | 2,102.68 |
| iShares Expanded Tech-Software Sector ETF | IGV US | 10,044.93 | 725.55 | 2,065.85 |
| JPMorgan Global Select Equity ETF | JGLO US | 6,970.03 | 5,444.64 | 1,930.02 |
| iShares iBoxx $ High Yield Corporate Bond ETF | HYG US | 16,072.95 | (3,132.52) | 1,826.14 |
| iShares Core S&P Mid-Cap ETF | IJH US | 101,041.19 | 7,571.80 | 1,823.31 |
| SPDR Dow Jones Industrial Average ETF | DIA US | 39,762.06 | 1,148.35 | 1,782.06 |
| Janus Henderson AAA CLO ETF | JAAA US | 15,580.49 | 10,119.52 | 1,642.38 |
| JPMorgan Ultra-Short Income ETF | JPST US | 28,552.17 | 6,005.65 | 1,624.17 |
| Schwab US Dividend Equity ETF | SCHD US | 68,035.07 | 7,174.59 | 1,597.49 |
The top 10 ETPs by net assets collectively gathered $176.68 Mn during November. ProShares Ultra VIX Short-Term Futures (UVXY US) gathered $114.19 Mn, the largest individual net inflow.
Top 10 ETPs by net new assets November 2024: US
| Name | Ticker | Asset ($ Mn) Nov-24 | NNA ($ Mn) YTD-24 | NNA ($ Mn) Nov-24 |
| ProShares Ultra VIX Short-Term Futures | UVXY US | 322.73 | 117.17 | 114.19 |
| ProShares UltraShort DJ-UBS Natural Gas | KOLD US | 107.66 | (127.06) | 34.89 |
| ProShares UltraShort DJ-UBS Crude Oil | SCO US | 113.51 | (71.97) | 10.95 |
| VanEck Merk Gold ETF | OUNZ US | 1,207.72 | 193.92 | 5.30 |
| FPA Global Equity ETF | FPAG US | 177.20 | 193.65 | 4.70 |
| ProShares Ultra Yen | YCL US | 48.43 | 22.89 | 3.30 |
| ProShares VIX Short-Term Futures ETF | VIXY US | 145.37 | 3.79 | 3.27 |
| ProShares UltraShort Euro | EUO US | 38.31 | (5.90) | 0.09 |
| ProShares Ultra Euro | ULE US | 6.01 | (0.53) | 0.00 |
| MAX S&P 500 4X Leveraged ETN | SPYU US | 186.31 | 66.72 | 0.00 |
Investors have tended to invest in Equity ETFs/ETPs during November.
Article by ETFGI
