Asset flows into mutual funds have been consistently declining since 2012 as investors as a whole have been shifting their favor to ETFs. 2015 marked the second time since 2008 when net flows to mutual funds were negative. At the asset class level, fixed-income ETFs have seen significant growth in recent years, with approximately $51 billion and $54 billion of new money in 2014 and 2015, respectively. Year-to-date April 2016, the asset class has seen $34 billion of net inflows.
