MutualFundWire.com: A Leveraged Index ETF Shop Leads With $1B

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Wednesday, April 24, 2024

A Leveraged Index ETF Shop Leads With $1B

An ETF boutique that specializes in leveraged and inverse index ETFs took the inflows lead proportionately last month, according to the latest data from the folks at a publicly traded investment research firm.

Justin Paul Young
Volatility Shares LLC
President, Co-Founder

This article draws from Morningstar Direct data on March 2024 open-end 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.)

Volatility Shares pulled ahead in the first quarter of 2024, thanks to an estimated $1.034 billion per fund in net Q1 2024 inflows, up quarter-over-quarter from $106 million per fund in Q4 2023. Other big Q1 2024 inflows winners included: Column Funds (from Northwestern Mutual's Mason Street Advisors), $881 million per fund (up Q/Q from $6 million per fund); Dodge & Cox, $443 million per fund (up Q/Q from $27 million per fund in net outflows, up year-over-year from $129 million per fund in net inflows in Q1 2023); 21Shares, $391 million per fund (up Q/Q from $4 million per fund); and GMO, $368 million per fund (up Q/Q from $10 million per fund in net outflows, up Y/Y from $5 million per fund in net outflows).

Volatility Shares also took the lead last month, thanks to an estimated $899 million per fund in net March 2024 inflows. Other big inflows winners included: 21Shares, $127 million per fund; and Dodge & Cox, $107 million per fund.

On the flip side, Grayscale took the outflows lead last quarter, thanks to an estimated $868 million per fund in Q1 2024 outflows, down Q/Q from less than $1 million per fund in Q4 2023 inflows and up Y/Y from negligible outflows per fund in Q1 2023. Other big Q1 2024 outflows sufferers included: Edgewood, $458 million per fund (up Q/Q from $57 million per fund, up Y/Y from $186 million per fund); Primecap, $337 million per fund (up Q/Q from $353 million per fund, up Y/Y from $190 million per fund); Akre, $258 million per fund (down Q/Q from $364 million per fund, up Y/Y fom $97 million pe fund); and Ark, $206 million per fund (down Q/Q from $36 million per fund in net inflows, down Y/Y from $6 million per fund in net inflows).

Grayscale also took the outflows lead last month, thanks to an estimated $374 million per fund in net March 2024 outflows. Other big outflows sufferers included: Edgewood, $147 million per fund; and Primecap, $110 million pe fund.

In March 2024, long-term funds and ETFs bought in a combined $2.103 million per fund in net inflows. That's up month-over-month from $1.484 million per fund in February 2024, up Q/Q from $1.364 million per fund in December 2023, and up Y/Y from $605,000 per fund in net outflows in March 2023.

In Q1 2024, the industry brought in $4.439 million per fund in net inflows, up Q/Q from $974,000 per fund in Q4 2023 and up Y/Y from $359,000 per fund in Q1 2023. For the trailing twelve months ending March 31, 2024, the industry brought in $5.852 million in net inflows per fund.

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