Global ETP Inflows Hit Record $195.4B in July: BlackRock
Global ETF inflows soared to a record $195.4 billion in July, surpassing the previous high of $168.5 billion set in December 2023, according to BlackRock’s latest Global ETP Flows report.
Equity ETPs drove the bulk of the inflows, attracting $126.6 billion in July, their strongest month since December. Meanwhile, fixed income ETP flows reached an all-time high of $60.5 billion.
“In contrast to previous record fixed income (FI) flow months, which have often been driven by an increase in buying in one particular exposure, the pickup in global FI flows in July was broad-based,” BlackRock noted in the report.
Rates, Credit Lead Fixed Income Surge
July’s fixed income inflows were diverse, unlike in previous record-setting months. Rates ETPs generated $19.8 billion in inflows, the most since October 2023. Investment grade credit flows hit $13.6 billion, their second-highest month ever.
High yield and emerging market debt remained positive, gathering $4 billion and $3.2 billion respectively. EMEA-listed fixed income ETPs notched their own monthly record, led by rates ($3.6 billion) and investment grade ($3.4 billion).
“It was a similar story in EMEA-listed FI ETPs, which also marked a new monthly flow record,” Karim Chedid, head of investment strategy for iShares EMEA at BlackRock, said.
Gold ETPs shined with $3.2 billion in inflows, the most since March 2022, while silver funds added $800 million. The precious metal flows were concentrated in U.S. listed products.
“July also marked the third consecutive month of inflows into gold ETPs and the biggest month for gold buying since March 2022, alongside net buying of silver ETPs,” Chedid noted
U.S. small-cap equity flows accelerated to $14.2 billion in July, second only to December 2023’s $16.2 billion. European small-caps cooled to just $100 million.
Among factors, quality led with $1.4 billion, though value was close behind at $1 billion. Quality flows dipped to their lowest levels since January.