Vanguard Wins ETF Flow War as State Street Slips Further Behind
- Firm is poised to lead 2020 inflows for first time since 2013
- State Street’s share of U.S. ETF market set for all-time low
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There’s a new champion in the battle for bragging rights atop the $5.3 trillion exchange-traded fund industry, while a familiar laggard is seeing its slice of the U.S. market shrink toward a record low.
Vanguard Group is on track to beat BlackRock Inc. in attracting ETF flows for the first time since 2013, with a record of $194 billion so far in 2020, according to data compiled by Bloomberg. The world’s largest asset manager lured $113 billion, while State Street Corp. was a distant third place, with $32 billion. The Boston-based firm’s market share is poised to drop for a fifth straight year after a $29 billion exodus from its crown jewel -- the $324 billion SPDR S&P 500 ETF Trust (ticker SPY).