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Vanguard bested iShares in full-year US ETF flows for the fifth straight year in 2024, powered by its US equity market trackers.
A net $308.2bn flowed into Vanguard’s ETFs, including $117bn for the Vanguard S&P 500 ETF (VOO) alone, according to new data from Morningstar.
iShares funds took in $292.5bn, also led by its Core S&P 500 (IVV), with $86.5bn. The firm’s Bitcoin Trust, lacking any counterpart product from Vanguard, was the year’s third best-selling ETF, with $37.5bn.
US equity products accounted for two-thirds of Vanguard’s new cash, while bond funds generated $59bn. iShares’ sales were more diversified, with fixed income, international equity and alternative products, and especially its spot bitcoin ETF, all selling well.
Invesco ranked third in firmwide flows, with $90.5bn, followed by State Street Global Advisors’ $80.7bn and JPMorgan, which posted $45.6bn.
Rounding out the top flows among the 10 biggest ETF firms were Charles Schwab, with $41.4bn; Fidelity, with $40.3bn; Dimensional Fund Advisors, with $38.8bn; First Trust ($20.8bn); and VanEck ($8.1bn).
This article was previously published by Ignites, a title owned by the FT Group.
Industry-wide, ETFs garnered $1.1tn in 2024 inflows, beating 2021’s record of $901bn.
Equity funds were responsible for $773.2bn, including $591bn for US equity, while fixed income posted $302.1bn, 94 per cent of it going to taxable bond funds.
Active ETFs, meanwhile, logged $295bn in inflows, more than doubling their 2023 record and raising their market share to 8.6 per cent, from 6.4 per cent.
*Ignites is a news service published by FT Specialist for professionals working in the asset management industry. Trials and subscriptions are available at ignites.com.
