The Vanguard Group pulled in a net $25.7 billion into its exchange-traded funds (ETF) over the first quarter to best its biggest competitor Blackrock in totals since Jan. 1, etf.com reported.
The inflows were powered by $19.1 billion of investments into equity products.
Data compiled by etf.com showed Vanguard’s fixed-income ETFs pulled in $6.6 billion during the quarter. The top asset-gathering fund was the Vanguard S&P 500 ETF, which brought in $4.5 billion over the same time.
Larry Fink, Chairman and CEO of BlackRock, arrives at the DealBook Summit in New York City, on Nov. 30, 2022. (Reuters/David 'Dee' Delgado)
Meanwhile, BlackRock’s iShares unit lost $500 million, Vanguard said. Despite the loss in revenue, iShares remains the largest ETF issuer with $2.3 trillion in assets across 384 U.S.-listed products.
Vanguard holds $2 trillion in assets across 82 of its U.S.-domiciled funds.
In the first quarter of 2023, U.S.-listed ETFs fell 18% to $76.9 billion after reaching $91.1 billion over the first quarter of 2022.