Exchange traded funds sold in Europe by DWS and Vanguard pulled in more than $16bn over the first six months of 2023, with the two asset managers gathering the most new money behind BlackRock’s giant iShares business.

Data from consultancy ETFGI shows that the ETF arm of DWS, known as Xtrackers, recorded $8.3bn of net inflows between January and the end of June — the second highest amount after iShares.