A Connecticut ETF shop took the inflows lead last month among midsize fund firms, even as the group's overall net flows slipped by 15 percent, according to the latest data from the folks at a publicly traded investment research firm.

Matthew "Matt" Tuttle Tuttle Capital Management LLC CEO, Chief Investment Officer

This article draws from Morningstar Direct data on November 2024 mutual fund and ETF flows, excluding money market funds and funds of funds. (Other asset management products, like CITs and SMAs, are also not included.) More specifically, this article focuses on the 211 firms (up by one month-over-month from October 2024 and up by four year-over-year from November 2023) with between 10 and 99 long-term mutual funds and ETFs each.

Tuttle Capital Management pulled ahead last month, thanks to an estimated $1.368 billion in net November 2024 inflows, up by $1.021 billion (294 percent!) M/M from October 2024 and up by $1.329 billion (34X) Y/Y from November 2023. Other big November 2024 inflows winners included: Baird (including Strategas), $1.161 billion (down by $1.426 billion M/M, up by $494 million Y/Y); Edward Jones' Bridge Builder, $948 million (down by $731 million M/M, down by $577 million Y/Y); Defiance ETFs, $919 million (up by $892 million M/M, up by $821 million Y/Y); and Tidal (including YieldMax), $904 million (up by $85 million M/M, up by $799 million Y/Y).

Baird led the pack for the trailing twelve months ending November 30, 2024, thanks to an estimated $19.237 billion in net inflows. Other big TTM inflows winners included: Pacer, $10.968 billion; and Dodge & Cox, $10.675 billion.

On the flip side, KraneShares took the outflows lead last month, thanks to an estimated $1.22 billion in net November 2024 outflows, a $1.739-billion net flows drop M/M from October 2024 and a $1.348-billion net flows drop Y/Y from November 2023. Other big November 2024 outflows sufferers included: Brinker Capital's Destinations, $643 million (up by $394 million M/M, up by $440 million Y/Y); Jensen, $311 million (up by $221 million M/M, up by $113 million Y/Y); Harding Loevner, $294 million (down by $114 million M/M, up by $56 million Y/Y); and VALIC, $267 million (down by $47 million M/M, down by $120 million Y/Y).

Grayscale led the outflows pack for the trailing twelve months ending November 30, 2024, thanks to an estimated $22.333 billion in net outflows. Other big TTM outflows sufferers included: Harding Loevner, $5.247 billion; and Baron, $4.838 billion.

As a group, midsize fund firms brought in $5.411 billion in net November 2024 inflows (down by $942 million M/M, but up by $6.635 billion Y/Y). As of November 30, 2024, midsize firms had a combined $1.819 trillion in AUM (up by $105 billion M/M, up by $351 billion Y/Y) across 6,101 long-term funds and ETFs (up by 97 M/M, up by 480 Y/Y).

Midsize firms ended November 2024 accounting for 26.4 percent of all fund firms, 14.2 percent of long-term funds, and 5.8 percent of industry AUM. They brought in 4.7 percent of industry inflows last month.

As of November 31, 2024, midsize firms had brought in $34.243 billion in net TTM inflows. They accounted for 5 percent of overall TTM inflows.

Across the whole industry, the 798 firms (up by one M/M and up by 20 Y/Y) tracked by the M* team brought in $114.585 billion in net November 2024 inflows. (That's up by $32.523 billion M/M and up by $81.498 billion Y/Y.) The industry ended November 2024 with $31.426 trillion in AUM (up by $1.342 trillion M/M, up by $6.097 trillion Y/Y) and 43,046 long-term funds (down by 97 M/M but up by 739 Y/Y).

As of November 31, 2024, the industry brought in $687.668 billion in TTM net inflows. 

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