Fund Flow Trends
2020 Record Fund Inflow AND Outflow Levels Persist
Outflow from equity-focused mutual fund categories remains relentless despite the recovering stock market, while bond ETFs continue to blow-out record inflows.
Net Inflow AND Outflow Records Set This Year
As of May 2020, domestic equity mutual funds and bond mutual funds have seen record outflow, while money market mutual funds have received record net inflow. Domestic equity and bond ETFs are also experiencing record net inflow YTD.
Cash Flows Accelerate Out Of Stock Funds Into Bond And Money Market
Bond and money-market fund subsets are seeing strong net cash inflows year-to-date, having captured $581 billion thus far (versus $176 billion at this time last year).
Cash Flows Decisively From Stock Funds, To Bond And Money Market Funds
Through May 2019, total net cash flow into equity and hybrid mutual funds and ETFs have turned negative.
Flows Muted For Most Equity Categories
As of the end of February, net cash flow into equity fund categories was subdued compared to that logged for the first two months of 2018.
Flows Subdued Y/Y Across Categories
As of November 2018, net cash flows into mutual funds and ETFs are positive but significantly muted compared to those logged at this time in 2017.
Flows Subdued Across Categories
Through August 2018, total net cash flows into mutual funds and ETFs are positive but remain muted compared to those logged at this time in 2017.
2018 Flows Muted Across Categories
In 2017, equity and bond funds captured a staggering net $400+ billion. In 2018, uneasy investors are still buying funds, but at subdued levels compared to the same period last year.
2018 Fund Flows Off To A Slow Start
Volatile markets in 2018 have lent to relatively subdued mutual fund (MF) and ETF inflows.
Fund Flow Trends - January 2018
Cumulatively, mutual funds (MFs) and ETFs (ex-money market funds) captured more money in 2017 YTD than any other year over the same period (data through November).
YTD Fund Inflow Highest On Record
On a cumulative basis, YTD through August, equity and bond funds (ex. money market) have captured more money than ever before over the same period.
YTD Fund Inflow Remains Highest Since 2013
Excluding money market, all equity and bond fund categories have captured cumulative net cash inflow that is more than five times the level seen at this time last year. ETF inflow this year has accounted for nearly 80% of all flows.
YTD Fund Inflow Highest Since 2013
YTD Fund Inflow Highest Since 2013
Fund Inflow Subdued In 2016
Net cash inflow for 2016 (through November) was muted relative to that of the same period in 2015.
Fund Inflows Subdued In 2016
Bond mutual funds, bond ETFs, and domestic-focused equity ETFs are the only categories registering material positive cash flows YTD.
Stock/Bond Market Fund Flow Trends
Bond funds (including ETFs), foreign-focused equity mutual funds and domestic-focused ETFs are the only categories capturing positive cash flows YTD.
Inflows For Bond Funds In 2016, Thanks To ETF Subset
While net cash flows were negative for equity funds through February 2016 (not too surprising given the sharp equity market sell-off), bond funds collected net cash inflows.
Investors Favor Foreign Focused Funds and ETF Products in 2015
Equity funds with a foreign focus remained the most popular fund category in 2015 (through November) as measured by net cash inflows from investors.
Investors Favor Equity Over Bond Funds So Far in 2015
Rising rates have set fund flow trends back on course to those seen over the last two years. Cumulatively, equity funds have now captured more net cash YTD than that collected by bond funds.
Fund Flow Trends Established In 2013 Persist In 2014—Just To A Lesser Extent
As we progress through 2014, a shift in fund flow trends established midway through 2013 is still intact—just more subtly so.