And after seeing redemptions in September, fairness ETFs had been again in favour final month with inflows of $676 million.
Nonetheless, the development towards fastened earnings — and money various ETFs specifically — continued in October as flows “proceed to indicate clear indicators of flight to security,” the report stated.
“Total, ETF movement patterns in October present that investor sentiment has improved relative to the acute defensiveness in September, however traders are nonetheless enjoying protection utilizing money various and ultra-short-term fixed-income merchandise,” the report stated.
Money ETFs had been as soon as once more the dominant class with $1.1 billion flowing in, following a report $1.7 billion in September. That brings the class’s property beneath administration to $12 billion, the report stated, virtually double the AUM from a yr in the past.
Mounted-income ETFs (together with money alternate options) accounted for $1.75 billion of inflows, as merchandise with minimal period and credit score danger had been common. The BMO Extremely Quick-Time period Bond ETF topped the leaderboard final month, bringing in $556 million. Money various funds from CI, Function and BMO had been additionally close to the highest.
12 months-to-date, the CI and Function money ETFs high the board.
On the fairness facet, broad index funds from iShares and Vanguard had been the leaders. Demand for beforehand common Canadian equities and power publicity light, the report stated, as did curiosity in dividend and earnings methods.
ESG funds introduced in $166 million in October after two months of “muted” flows. Nationwide Financial institution attributed the achieve primarily to “institutional-sized creations” to the NBI Sustainable Canadian Fairness ETF.
Multi-asset funds introduced in $107 million in October, whereas cryptoasset funds gained $9 million. Crypto ETFs are virtually flat for the yr, with $31 million in redemptions, the report stated.
Eleven funds launched final month, Nationwide Financial institution stated, six of them within the “burgeoning evenly levered” class making use of money leverage of 25% to 33%. Inverse and levered merchandise introduced in $126 million in October.
Complete ETF property as soon as once more topped the $300 billion threshold, ending the month with $301.5 billion, the report stated. This yr, ETFs have gathered $23.8 billion.