ETF Check-In Provided by Brownstone 4Q2019 – Columnist

Key Points
• There are now well over 250 ETFs eligible to be reported as bonds designated by the NAIC.
• We are finding that more Insurance Asset Managers are considering ETFs as a liquidity tool at a minimum.
• The Top 10 ETF inflows Year to Date are split between Equity and Fixed Income ETFs.
• Credit ETFs and their Creation/Redemption mechanism can largely be attributed to the growth of Fixed Income Portfolio Trades
which are becoming more common as a way to trade credit portfolios both large and small.

Overall Flows
Over $40.5bn of assets flowed into Equity ETFs while just under $30bn flowed into Fixed Income ETFs over September and October.

Notable Launches
PTBD-Pacer Trend Pilot US Bond ETF
•SCHQ-Schwab Long-Term U.S. Treasury ETF
•SCHI-Schwab 1-5 Year Corporate Bond ETF
•AVUS-Avantis US Equity ETF
•FLCB-Franklin Liberty U.S. Core Bond ETF
•VALT-ETFMG Sit Ultra Short ETF

Top EQUITY ETF FLOWS

Top 10 ETF Flows YEAR-TO-DATE through 10/31/19

Equity Breakdown 9/1/19 through 10/31/19

Fixed Income Breakdown 9/1/19 through 10/31/19


By Brownstone
Michael Cafiero, Director of Multi-Asset Trading
Mike serves as a Director of Multi-Asset Sales and Trading at Brownstone Investment Group providing trade execution services to Institutions throughout North America and Europe. His focus is helping clients find liquidity when trading Equities, Fixed Income Products, and ETFs. His extensive background in ETF trading gave Mike exposure to many asset classes, allowing him to offer liquidity solutions within a wide variety of products now in their primary markets.
Mike joined Brownstone in August 2018. His previous experience includes serving as Director of ETF Sales and Trading at Cantor Fitzgerald and at Knight Capital Americas (Virtu). Mike’s career in ETFs began when he worked for iShares ETFs at Barclays Global Investors (Blackrock).
Contact Mike with any questions: 212-905-0582 or mcafiero@brownstone.com


Important Disclosure
Brownstone Investment Group, LLC. Is a U.S. registered broker-dealer and FINRA, MSRB & NYSE member. Our headquarters is located at 505 Fifth Avenue, 10th Floor, New York, New York 10017 with branch offices in California, New Jersey, Colorado and Chicago. Brownstone is a registered trademark of Brownstone Investment Group, LLC. Our website is www.brownstone.com

This material is for institutional or broker-dealer use only and is not a solicitation, commitment or offer. The contents herein are for informational purposes only and does not constitute Brownstone’s recommendation to buy or sell a security. All information is indicative and subject to change without prior notice. The information obtained is from sources believed to be reliable, but we do not warrant its completeness or accuracy. Past performance is no guarantee of future results.