BlackRock Global ETP Flows : Highs and lows: fixed income flows rose 1.9x vs. April, reaching $35.3B in May \u2013the highest level since April 2021. Commodities saw the first outflow month this year, with -$5.3B out.<\/p>\n
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Si desea recibir las principales noticias de ETFWorld.es suscr\u00edbase a nuestros Newsletters gratuitos. Haga clic aqu\u00ed para suscribirse gratuitamente<\/strong><\/a><\/p>\n Global ETP Flows May 2022 \u00a0\u00a0\u00a0 Back on course? Monthly allocations to global equity ETPs recovered in May, gathering $54.3B, up from April\u2019s $6.4B. Equity ETPs led inflows, but buying remains well below the Q1 monthly average.<\/strong><\/p>\n \u00a0\u00a0\u00a0 Defensive measures: sector ETPs registered the first outflow month since August 2019 (-$8.9B), as sentiment towards more defensive precision equity exposures picked up.<\/strong><\/p>\n A rush to rates<\/strong><\/p>\n Flows into rates ETPs set a monthly record in May ($26B), building on the month-on-month momentum we\u2019ve seen since February and eclipsing the previous record of $18.5B set in December 2018. US exposures gathered 96% of the rates inflows: while interest has picked up across the curve, short duration ETPs continued to dominate ($9.2B), while flows into blended maturities surged to $7B (vs. $2.5B in April).<\/p>\n High yield (HY) credit ($3.8B) finally caught a bid after four consecutive outflow months. The spotlight remained on US HY, with May\u2019s $4.1B of inflows fully reversing April\u2019s outflows of -$2.9B. Investment grade (IG) ETP demand remained robust, jumping to $4B (vs. $1.3B in April), led by US IG ($3.8B), with additional buying in eurozone IG ($0.4B), partly reversing April\u2019s outflows (-$0.7B). Conviction remained downbeat for emerging market debt (-$4.2B), which has seen four consecutive outflow months; May saw the largest outflows for the exposure since March 2020 (-$8.2B).<\/p>\n Back to US<\/strong><\/p>\n After a muted month for broad equity flows in April, investors added $54.3B to equity ETPs in May. While significantly higher than April\u2019s $6.4B of inflows, the May figure represents the next lowest month for equity inflows since July 2021.<\/p>\n At a regional level, US exposures led the way in May, making up 90% of net equity buying.<\/p>\n As we highlighted last month, April outflows from US equity ETPs appear to have largely stemmed from a change in investment vehicle, rather than an asset allocation change. May\u2019s inflows suggest that \u2018normal\u2019 buying has resumed in US equity ETPs: the $48.8B allocated in May was in line with average monthly allocations in the first quarter of the year.<\/p>\n Turning defensive<\/strong><\/p>\n Defensive sentiment continued to drive sector and factor allocations in May. Sector ETPs registered their first outflow month since August 2019 (-$8.9B), ending an impressive 32-month streak of consecutive inflows. Selling was once again led by cyclical sectors, such as financials (-$6.3B) and energy (-$1.6B). On a brighter note, defensive sectors registered inflows: healthcare, for example, saw $2.1B of buying, albeit down from $3.7B in April.<\/p>\n May\u2019s defensive theme also played out in factor flows, with low volatility ETPs gaining $3.6B \u2013the fourth-largest monthly allocation on record, and the largest since August 2019 ($3.9B). Quality was also in favour, with investors adding $1.8B in May on top of April\u2019s inflows of $1.9B.<\/p>\n Commodity ETPs registered $5.3B of selling, making May the largest outflow month since March 2021, when outflows totalled -$6.3B. Just under 60% of commodity outflows came from gold ETPs (-$3.1B), but selling was also seen in broad market commodity exposures in May (-$1.1B) \u2013representing the first outflow month since September 2021 (-$0.4B).<\/p>\n US and EM equities drive sustainable slowdown<\/strong><\/p>\n The downward trend in sustainable ETP flows continued in May, with net inflows of $569m across US-and European-listed products, down from $4.7B in April. These lower levels were driven by -$2B of outflows from US-listed exposures, as well as a slowing of inflows into European ETPs ($2.4B), although it’s worth noting that the degree of sustainable adoption varies across regions.<\/p>\n In Europe, sustainable equity inflows totalled $1B, led by exclusionary exposures ($800m), followed by optimised\/tilt strategies ($760m). Contrary to longstanding trends, European equity best-in-class (BiC) ETPs saw outflows (-$1.8B), mainly driven by US exposures. European sustainable fixed income registered strong inflows ($1.3B), led by BiCexposures, including government bond ETPs ($362m). Sustainable IG ETPs outpaced their non-sustainable peers, with $635m added to EUR-denominated BiCexposures.<\/p>\n In the US, -$1.7B of the -$2B of outflows from sustainable equity ETPs came from selling of ESG-optimised exposures. BiCstrategies also saw outflows (-$217m). In US fixed income, optimised strategies registered inflows of $53m.<\/p>\n Fuente: ETFWorld<\/p>\n","protected":false},"excerpt":{"rendered":" BlackRock Global ETP Flows : Highs and lows: fixed income flows rose 1.9x vs. April, reaching $35.3B in May \u2013the highest level since April 2021. Commodities saw the first outflow month this year, with -$5.3B out.<\/p>\n","protected":false},"author":4,"featured_media":17272,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"telegram_tosend":false,"telegram_tosend_message":"","telegram_tosend_target":0,"footnotes":"","_wpscp_schedule_draft_date":"","_wpscp_schedule_republish_date":"","_wpscppro_advance_schedule":false,"_wpscppro_advance_schedule_date":"","_wpscppro_dont_share_socialmedia":false,"_wpscppro_custom_social_share_image":0,"_facebook_share_type":"","_twitter_share_type":"","_linkedin_share_type":"","_pinterest_share_type":"","_linkedin_share_type_page":"","_instagram_share_type":"","_medium_share_type":"","_threads_share_type":"","_google_business_share_type":"","_selected_social_profile":[],"_wpsp_enable_custom_social_template":false,"_wpsp_social_scheduling":{"enabled":false,"datetime":null,"platforms":[],"status":"template_only","dateOption":"today","timeOption":"now","customDays":"","customHours":"","customDate":"","customTime":"","schedulingType":"absolute"},"_wpsp_active_default_template":true},"categories":[100],"tags":[86,162,85],"class_list":["post-18141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analisis-mensual-etf-en","tag-blackrock","tag-blackrock-etp-landscape","tag-etp"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"featured_image_urls_v2":{"full":["https:\/\/www.etfworld.com\/es\/wp-content\/uploads\/2022\/02\/BlackRock-ETP-Flows.jpg",750,563,false],"thumbnail":["https:\/\/www.etfworld.com\/es\/wp-content\/uploads\/2022\/02\/BlackRock-ETP-Flows-150x150.jpg",150,150,true],"medium":["https:\/\/www.etfworld.com\/es\/wp-content\/uploads\/2022\/02\/BlackRock-ETP-Flows-300x225.jpg",300,225,true],"medium_large":["https:\/\/www.etfworld.com\/es\/wp-content\/uploads\/2022\/02\/BlackRock-ETP-Flows.jpg",750,563,false],"large":["https:\/\/www.etfworld.com\/es\/wp-content\/uploads\/2022\/02\/BlackRock-ETP-Flows.jpg",750,563,false],"1536x1536":["https:\/\/www.etfworld.com\/es\/wp-content\/uploads\/2022\/02\/BlackRock-ETP-Flows.jpg",750,563,false],"2048x2048":["https:\/\/www.etfworld.com\/es\/wp-content\/uploads\/2022\/02\/BlackRock-ETP-Flows.jpg",750,563,false],"ultp_layout_landscape_large":["https:\/\/www.etfworld.com\/es\/wp-content\/uploads\/2022\/02\/BlackRock-ETP-Flows.jpg",750,563,false],"ultp_layout_landscape":["https:\/\/www.etfworld.com\/es\/wp-content\/uploads\/2022\/02\/BlackRock-ETP-Flows.jpg",750,563,false],"ultp_layout_portrait":["https:\/\/www.etfworld.com\/es\/wp-content\/uploads\/2022\/02\/BlackRock-ETP-Flows-600x563.jpg",600,563,true],"ultp_layout_square":["https:\/\/www.etfworld.com\/es\/wp-content\/uploads\/2022\/02\/BlackRock-ETP-Flows-600x563.jpg",600,563,true],"mailpoet_newsletter_max":["https:\/\/www.etfworld.com\/es\/wp-content\/uploads\/2022\/02\/BlackRock-ETP-Flows.jpg",750,563,false]},"post_excerpt_stackable_v2":" BlackRock Global ETP Flows : Highs and lows: fixed income flows rose 1.9x vs. April, reaching $35.3B in May \u2013the highest level since April 2021. Commodities saw the first outflow month this year, with -$5.3B out. Si desea recibir las principales noticias de ETFWorld.es suscr\u00edbase a nuestros Newsletters gratuitos. Haga clic aqu\u00ed para suscribirse gratuitamente Global ETP Flows May 2022 \u00a0\u00a0\u00a0 Back on course? Monthly allocations to global equity ETPs recovered in May, gathering $54.3B, up from April\u2019s $6.4B. Equity ETPs led inflows, but buying remains well below the Q1 monthly average. \u00a0\u00a0\u00a0 Defensive measures: sector ETPs registered the first…<\/p>\n","category_list_v2":"An\u00e1lisis Mensual ETF (EN)<\/a>","author_info_v2":{"name":"Equipo Editorial","url":"https:\/\/www.etfworld.com\/es\/author\/equipo-editorial\/"},"comments_num_v2":"0 comentarios","_links":{"self":[{"href":"https:\/\/www.etfworld.com\/es\/wp-json\/wp\/v2\/posts\/18141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.etfworld.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.etfworld.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/es\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/es\/wp-json\/wp\/v2\/comments?post=18141"}],"version-history":[{"count":2,"href":"https:\/\/www.etfworld.com\/es\/wp-json\/wp\/v2\/posts\/18141\/revisions"}],"predecessor-version":[{"id":18143,"href":"https:\/\/www.etfworld.com\/es\/wp-json\/wp\/v2\/posts\/18141\/revisions\/18143"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/es\/wp-json\/wp\/v2\/media\/17272"}],"wp:attachment":[{"href":"https:\/\/www.etfworld.com\/es\/wp-json\/wp\/v2\/media?parent=18141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.etfworld.com\/es\/wp-json\/wp\/v2\/categories?post=18141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.etfworld.com\/es\/wp-json\/wp\/v2\/tags?post=18141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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