Ten money market mutual funds have attracted more inflows year to date than the No. 1 "flow-getting" exchange-traded fund — iShares MSCI USA Quality Factor ETF, which has taken $7 billion, senior Bloomberg ETF analyst Eric Balchunas noted in a tweet Tuesday.
"This is next level flow-tensity," Balchunas said.
Market players and analysts have noted a surge in cash flowing into money market mutual funds recently, as investors seek better yields than many bank deposit accounts offer.
Money market funds topped $5.1 trillion in assets in March, setting a new record, according to Bloomberg.
Franklin Templeton CEO Jenny Johnson suggested recently that last month's high-profile bank failures had awoken investors to the higher interest rates available in money market mutual funds. And Balchunas tweeted last week that money market mutual funds attracted $200 billion in the last two weeks on March.
Balchunas says these are the top 10 money market mutual funds based on their inflows through the end of March, according to Bloomberg data:
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