I always think ETF flows data is interesting, but the 2008 YTD flows really take the cake.

First of all - thanks Matt, for putting together this updated data list. It is a doozy. I follow this data pretty closely, so am generally aware of everything that's going on, but seeing the flows and assets all listed out like that always sheds extra light on what's going on. And what's going on is a LOT. Previously, you've seen a lot of product development and massive flows into a few funds. Now, just now, we're beginning to see how things are falling out at an issuer level.

I'll paste Matt's list in again below so you don't need to flip back to the original blog to reference the data.

It really does feel like the competitive landscape is wide open right now ... and that dynamic is a product of the innovation going on in the ETF market, and the way the wider market has been moving around. Matt made some good observations about this list. And honestly, that list is so interesting for me to look at that I feel compelled to list my top TEN observations about the list below (#1 being the biggest "wow" and so on).

1. Look at Vanguard go. 50 billion dollars is a lot of money. And if anyone had any doubts about Vanguard being a serious ETF player, let's put those to rest. And look out SSgA and BGI.
2. ProShares has brought in HALF their total assets in 2008? That is insane. That is one heck of a story down there in Bethesda. And really there's been very little chipping into the inverse/leveraged business as yet from Rydex.
3. MacroShares. This has to win the prize of the funkiest ETF (are they ETFs? - who knows what to call them) story of the year. I had a conversation yesterday with Bob Pisani from CNBC about UCR and DCR, and one thing is clear. Most people have no idea how those things work, still. (Bob - you should cover that story. Have Matt on to do it.) But someone must know something, as their assets have pushed their way toward a billion dollars on speculation as they near closing.
4. SPY has some crazy flows. It's clear based on the wild swing of the main SPDRs fund that there are major institutional investors moving around major amounts of money ... and it's fun to speculate what's going on (and impossible to divine really) as money comes in and out. My guess is mainly it's about transitions and equitization, but your guess is as good as mine.
5. Van Eck. The little train that COULD. Van Eck is an exceptionally well-run, nimble shop that has had an uncanny knack for launching products right into demand with nary a dud in sight.
6. The only reason WisdomTree comes in down here at #6 is that I wrote about them in the last couple days & they've been on my radar. I'm happy that it feels like they've gotten some momentum and seem about to crack $5 billion. I think WT has been very healthy for the ETF business in terms of the low fee emphasis and the trail they've blazed on helping open up in particular some of the size and style options abroad that those of us without direct DFA access have been wanting for years. Their product development has led to other product development and that's good. I do think they've got a nice, coherent family of funds that is built for the long run as well. Time will tell how the alternative weighting pans out, but I do like this operation & have not understood some of the vitriol around them. I guess it's about how they spent money, etc. But again, as an investor, I don't really care about all that. I'm looking mainly at the products. And I think directly and indirectly, they've brought some good things to market.
7. Rydex is another Rodney Dangerfield in the ETF business. These guys have a lot of very nice funds that are reasonable on expenses and interesting in terms of coverage. It's nice to see them move up. It seems like they're sort of caught in between in terms of how they are positioned. Are their ETFs more in the SSgA/BGI/Vanguard area or are they a leveraged/inverse/alternative shop? More the latter, clearly. And maybe over time they may do what Vanguard has done to the big 2 and chip away some market share and force some more price competition.
8. Claymore and First Trust. These guys seem like they have a lot of potential, and Claymore has moved up in assets. But I'm not sure how dedicated and aggressive all the marketing is, and the product development has been spotty. Both have launched more "activish" products that need the marketing support than they have "field of dreams" funds like a solar. Again, Claymore does win ticker symbol of the year award for "TAN."
9. NETS - well they've got them out there now. It's a nice-looking lineup. Now the marketing and hard work begins.
10. BGI and SSgA. I guess it can't always be exponentially upward all the time. Both have really not let off the gas on product development. And they sit at the bottom here, as Matt points out, because their MASSIVE funds are those that are most subject to big redemptions that have more to do w/ market direction and what institutional guys are doing than natural flow into funds (which as Matt pointed out w/ SSgA can sometimes otherwise be positive).

Here are those assets and creation/redemptions again. For clarification, that third column represents the TOTAL change in total net assets (including both creations and redemptions AND market movement). Great stuff Matt ...

American Stock Exchange Data 12/28/2007 - 5/16/2008