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US ETFs Inflows Could Hit a Record in 2012

Investors lock in profits in high-yield bond funds and increase flows to government-bond funds.

Michael Rawson, CFA 31 December, 2012 | 0:00
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Exchange-traded funds attracted $15.6 billion in net inflows during the month of November, bringing the year-to-date total to $154.0 billion, on pace to match 2008’s record-setting year. Flows in 2012 have been dominated by taxable-bond ETFs, which saw an additional $3.9 billion in new capital added in November, bringing total net inflows for the year to date to $48.0 billion, surpassing any previous year. International-stock ETFs also saw strong inflows last month, attracting $5.2 billion in new money for the month of November.


Positioning for the "Fiscal Cliff"
Investors may be locking in profits after a strong runup in high-yield bonds and positioning their fixed-income portfolios for heightened uncertainty as we head towards the "fiscal cliff." After seeing strong inflows earlier in the year, high-yield bond ETFs saw outflows for the second-straight month. Meanwhile, investors sought the perceived safety of Treasury bonds, as the long-term government-bond and intermediate-term government-bond categories added $600 million and $774 million, respectively. 

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About Author

Michael Rawson, CFA  Michael Rawson, CFA is an ETF Analyst with Morningstar.

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