Morningstar Reports U.S. Mutual Fund and ETF Fund Flows for September 2021
Morningstar, Inc. (MORN) reported on October 19, 2021, that U.S. mutual fund and ETF inflows totaled $58 billion for September 2021, the lowest since October 2020. Key points include: passive U.S. equity funds saw inflows of $12.5 billion while active funds had outflows of $20 billion, leading to an overall outflow of $7.4 billion in U.S. equity funds. International equity funds attracted $9.8 billion in inflows, and sustainable funds saw $3.8 billion in September. Taxable bond funds continued to dominate with $40 billion in inflows.
- Taxable bond funds led net flows with $40 billion in September, showcasing strong market demand.
- Sustainable funds showed resilience with $3.8 billion in inflows, indicating growing investor interest in sustainable investments.
- Vanguard's $19.8 billion inflow, although the lowest of the year, maintained its leading position among fund families.
- Overall, U.S. equity funds experienced an outflow of $7.4 billion, reflecting a negative trend in this category.
- Active U.S. equity funds faced significant outflows of $20 billion, highlighting a shift towards passive investment strategies.
CHICAGO, Oct. 19, 2021 /PRNewswire/ -- Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, today reported estimated U.S. mutual fund and exchange-traded fund (ETF) flows for September 2021. Long-term mutual funds and ETFs had
Morningstar's report about U.S. fund flows for September 2021 is available here. Highlights from the report include:
- Consistent with the broader shift in favor of index-tracking U.S. equity strategies, passive U.S. equity funds had
$12.5 billion of inflows in September, while active funds had outflows of$20.0 billion . U.S. equity funds' overall$7.4 billion outflow was the most among U.S. category groups. - International-equity funds had inflows of
$9.8 billion , compared to the category group's average monthly intake of$24 billion over the first eight months of 2021. - Funds with sustainability mandates incorporated into their prospectuses, as measured by Morningstar, had inflows of
$3.8 billion in September. Sustainable U.S. equity funds gathered$1.6 billion , bringing their year-to-date intake to$25.7 billion , equal to more than half the inflows into U.S. equity funds without an explicit focus on sustainability. As of September, sustainable funds within the international-equity and sector-equity category groups posted trailing 12-month organic growth rates of57% and122% , respectively. - Taxable bond funds'
$40 billion intake led all U.S. category groups for the sixth consecutive month, with70% of all long-term net flows in September. Their year-to-date intake of$464 billion more than doubled the next-closest, international-equity funds'$203 billion . Short-term bond funds led all taxable-bond funds by gathering$7.1 billion in September. Bank loan funds added$3.2 billion , their 10th consecutive month of inflows, and inflation-protected bond funds extended their streak of positive flows to 17 months after collecting$5.6 billion in September. - Vanguard collected
$19.8 billion in September, which marked its lowest monthly inflow of the year but still led all fund families for the 10th consecutive month. The firm's lineup of index funds represented the majority of September's intake and has now claimed over90% of the firm's inflows year to date. Fidelity and iShares saw the second- and third-most inflows, respectively, with over$9 billion apiece in September.
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About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The Company offers an extensive line of products and services for individual investors, financial advisors, asset managers and owners, retirement plan providers and sponsors, and institutional investors in the debt and private capital markets. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with approximately
Morningstar's Manager Research Group consists of various wholly owned subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC. This press release is for informational purposes only; references to securities or a separately managed account investment strategy in this press release should not be considered an offer or solicitation to buy or sell the securities or to invest in accordance with that strategy.
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