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AnalysisETFsThe TapeThe Flow

Vanguard's VOO flips from $19.36 billion July inflow to $13.3 billion September outflow

Ultumus data show iShares Core S&P 500 ETF (IVV) took the opposite side in July, while all 20 largest ETF issuers still posted net inflows in September.

At a glance

  1. Global ETF assets stood at $21.35 trillion, down 0.9% like-for-like, as market moves outweighed $150 billion of net inflows.
  2. Ultumus's July report, published Aug. 4, put VOO at $19.36 billion of net inflows for the month and iShares Core S&P 500 ETF (IVV) at a $17.8 billion outflow.
  3. Ultumus does not identify which funds absorbed the September outflows, but positive flows across every top-20 issuer are consistent with rotation among ETFs rather than a broad exit from the asset class.

Vanguard's VOO flipped from a $19.36 billion July inflow to a $13.3 billion September outflow, according to Ultumus.

Issuer-specific, not index-wide

All 20 largest ETF issuers still reported net inflows in September, Ultumus said. Global ETF assets stood at $21.35 trillion, down 0.9% like-for-like, as market moves outweighed $150 billion of net inflows.

Ultumus's July report, published Aug. 4, put VOO at $19.36 billion of net inflows for the month and iShares Core S&P 500 ETF (IVV) at a $17.8 billion outflow.

Ultumus does not identify which funds absorbed the September outflows, but positive flows across every top-20 issuer are consistent with rotation among ETFs rather than a broad exit from the asset class.

VOO: +$19.4bn in July, −$13.3bn in September

Monthly net ETF flows, two largest S&P 500 funds

  • Inflow / above zero
  • Outflow / below zero
+$19.36BNVOO · July−$13.3BNVOO · September−$17.8BNIVV · July+$19.36BNVOO · July−$13.3BNVOO · September−$17.8BNIVV · July+$19.36BNVOO · July−$13.3BN−$17.8BNIVV · July
Source: Ultumus monthly ETF flow reports
Show as table
LabelValue ($bn)
VOO · July$19.36BN
VOO · September−$13.3BN
IVV · July−$17.8BN

Reported by The Tape desk from Ultumus. Published . Corrections

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Global ETF flows passed $1 trillion for the year as VOO and IVV diverged

Ultumus's July report, published Aug. 4, put VOO at $19.36 billion of net inflows for the month and IVV at a $17.8 billion outflow.

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