NEW YORK, Jan 11 Reuters BlackRock39;s iShares exchange traded funds ETFs gained more net flows than Vanguard39;s ETFs last year, according to estimates from industry tracker Morningstar, putting the world39;s biggest asset manager in the lead for the first time since 2019.

BlackRock and Vanguard are the world39;s two biggest asset managers as well as the largest providers of ETFs products often targeted at retail investors as a cheap way to invest in the worlds biggest markets.

Total estimated net flows into ETFs globally amounted to about 745 billion last year, down from 1.2 trillion in 2021, when COVID19 stimulus measures pushed retail investors to pile their growing cash balances into such products. Net flows into U.S.domiciled ETFs have also come down year on year, according to Morningstar data, to about 590 billion last year from 911 billion in 2021.

Despite the yearly declines, net flows into ETFs, both globally and in the United States, were the secondhighest ever last year, with BlackRock39;s iShares regaining the top position.

Estimated net flows into BlackRock39;s global iShares ETFs amounted to about 220 billion last year against nearly 214 billion in estimated net flows into Vanguard39;s ETFs, according to Morningstar data. Net flows into Vanguard39;s ETFs had been higher in the prior two years.

Despite significant headwinds across all major asset classes, Vanguard funds experienced strong net cash inflows in 2022, a Vanguard spokesperson said. For…