December 17, 2020

Morningstar Reports U.S. Mutual Fund and Exchange-Traded Fund Flows for November 2020

CHICAGO, Dec. 17, 2020 /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 November 2020. During a month that included the U.S. elections and progress on COVID-19 vaccines, long-term mutual funds and ETFs collected near-record inflows of $112 billion, marking the eighth consecutive month of inflows. Exchange-traded funds saw a record $97 billion of inflows for the month, topping the previous monthly record of $62 billion set in June 2019.

Morningstar's report about U.S. fund flows for November 2020 is available here. Highlights from the report include:

  • With help from ETFs, U.S. equity funds had only their second month of inflows in 2020. Nearly $36 billion of these inflows went to broad-market funds, such as the Vanguard Total Stock Market Index, which holds a Morningstar Analyst Rating of Gold and became the first U.S. fund to end a month with more than $1 trillion in total assets.
  • Taxable-bond funds garnered $52 billion in November, bringing the group's total inflows to $368 billion for the year-to-date period. Intermediate core bond funds led inflows for the group with $15 billion. Investors added $6.5 billion to high-yield bond funds in addition to investing $6 billion in short-term bond and intermediate government funds. On the other hand, investors pulled $5.7 billion from long government funds amid historically low interest rates.
  • Commodities funds, which have had strong inflows as a group for much of 2020, saw $5 billion of outflows in November, their second consecutive month of outflows. $3.8 billion of these outflows came from SPDR Gold Shares as the price of gold continued its gradual pullback from its all-time high of more than $2,000 per ounce set in early August 2020.
  • Among fund families, iShares topped the list in November with nearly $31 billion of inflows, with the firm collecting $26 billion across its U.S.-, international-, and sector equity funds. Fidelity had a strong month with nearly $12.4 billion of inflows, owing much of its recent growth to its passively managed offerings, which pulled in $11 billion during the month. Meanwhile, Dimensional Fund Advisors had the most outflows of all fund families in November at nearly $1.9 billion. Dodge & Cox and T. Rowe Price followed with $1.7 billion of outflows each.

To view the complete report, please click here.

The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

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, 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 $215 billion in assets under advisement and management as of Sept. 30, 2020. The Company has operations in 29 countries. For more information, visit www.morningstar.com/company. Follow Morningstar on Twitter @MorningstarInc.

Morningstar's Manager Research Group consists of various wholly owned subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC. Analyst Ratings are subjective in nature and should not be used as the sole basis for investment decisions. Analyst Ratings are based on Morningstar's Manager Research Group's current expectations about future events and therefore involve unknown risks and uncertainties that may cause such expectations not to occur or to differ significantly from what was expected. Analyst Ratings are not guarantees nor should they be viewed as an assessment of a fund's or a fund's or separately managed account's underlying securities' creditworthiness. 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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Rebecca Rogalski, +1 312 244-7771 or rebecca.rogalski@morningstar.com

 

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