ETF net sales lagged mutual funds in June, drawing by far the smallest inflows of any month this year, according to data from the Investment Funds Institute of Canada.

Mutual funds generated $771 million in net sales last month, compared to $327 million for ETFs. That’s a huge drop from the $4 billion in ETF net sales in May.

For the first six months of 2019, $10.8 billion has flowed into ETFs, compared to $6 billion for mutual funds. ETF flows are up more than $1 billion from the same period last year, while mutual fund net sales are less than half of the $14.4 billion in sales from January to June 2018.

Mutual fund net assets totalled $1.56 trillion at the end of June, compared to $181.4 billion in ETFs. Net assets for both grew close to 2% month over month.

Both mutual funds and ETFs saw redemptions on the equity side last month, and gains in bond funds.

Bond mutual funds saw net sales of $1.1 billion, while $1.4 billion flowed out of equity funds. Gains in balanced and specialty funds led to the positive net sales.

Bond ETFs saw $870 million in sales, while equity ETFs lost $902 million.