Exchange-traded funds accounted for nearly half of last year's record $2.4 trillion of estimated global net inflows into long-term mutual funds and ETFs, according to a Morningstar report.
"ETFs captured 49% of net flows even though at the end of 2021 they represented just 21% of assets," said the report released Thursday.
Mutual funds saw $1.213 trillion of net inflows in 2021, narrowly eclipsing ETFs, which took in $1.202 trillion, the report showed. Mutual funds had assets totaling $37.3 trillion at the end of 2021, while ETF assets totaled $9.9 trillion, the report showed.
The record $2.4 trillion that flowed into mutual funds and ETFs topped the previous record of $1.7 trillion set in 2017, said Sylvester Flood, senior editorial director at Morningstar and author of the report, in an interview.