Canada’s 257 exchange traded funds broke through $50 billion in in assets under management (AUM) for the first time in July, according to the latest data from BlackRock Asset Management Canada Ltd.

The report indicates that ETFs had $329 million in net inflows for July, which pushed industry AUM to $50.1 billion.

Fixed income funds led the way with $518 million of net new assets during the month. International equity funds garnered $117 million, and inverse ETFs attracted $75 million. There were outflows from Canadian equity funds in July, amounting to $271 million, and commodity funds ($141 million worth).

In the year to date, fixed income funds have garnered $3.4 billion in net new assets, pushing total AUM to over $16 billion. And, notwithstanding their weak showing in July, Canadian equity funds rank second in new assets through the first seven months of the year, with $2.5 billion worth; it also remains by far the largest asset class with $26.2 billion in total AUM.

iShares remains the overwhelming market leader, accounting for a 77.3% market share. Bank of Montreal ranks second with a 13.4% share, and Horizons ETFs is third with a 6.6% share.