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Net flows into Canadian ETFs reached $1.7 billion in October, according to a report from National Bank of Canada.

Equities ETFs saw net inflows of $1.2 billion, led by two institutional-sized block creations. The Horizons Emerging Markets Equity Index ETF had an inflow of $455 million, while the TD Q Canadian Dividend ETF had an inflow of $282 million.

October also saw sizable inflows into multi-factor, technology and infrastructure ETFs, according to the report.

National Bank noted “three key trends from 2020” continued in October, with disruptive technology ETFs, quality factor strategies and environmental, social and governance ETFs all attracting investor interest in “small and steady amounts.”

Net flows into fixed income ETFs slowed to $279 million in October. Flows into Canadian government bonds and cash alternative ETFs were nearly offset by outflows from preferred shares and Canadian corporate bonds.

The report suggested October’s fixed income flows may indicate that investors are “feeling risk-averse heading into a potentially volatile period as earnings unfold and the U.S. presidential election plays out.”

Multi-asset ETFs garnered $193 million in October, while flows into commodities ETFs “tapered” to $27 million. Gold bullion ETFs, which have enjoyed strong inflows most of the year, saw inflows slow to $40 million.

Year-to-date net flows into Canadian ETFs now stand at $34 billion, while eight ETFs launched in October. For further details, see National Bank’s report.