Exchange-traded fund investors shook off the summer slump and put their money back to work in July, reportedly finding investment opportunities overseas and in favored funds with large-cap investment styles.
Industry assets rose $50 billion, or 6.5%, in July, according to State Street Global Advisors.
Overall, the 917 ETFs had $822 billion in assets at July 31, the State Street Corp. unit said in releasing its measure of the ETF market Aug. 10.
The international category was the most productive, with $22.6 billion in new assets.
This number reflected both inflows and market performance. International stocks also had the best performance among ETFs, outstanding assets grew 13.2%.
Indeed, though the Standard & Poor's 500 stock index returned 7.1% growth in July, the MSCI EAFE and MSCI Emerging Markets indexes rose 9.5% and 8.4%, respectively.
Fixed-income ETFs also stayed in positive territory. The category got $5.9 billion in new assets, for 4.9% growth.
It was a sign that investors are still unsure about the vitality of the U.S economy and equity market volatility, said Tom Anderson, the head of ETF strategy and research at State Street Global Advisors.
