GLD Held No. 5 Spot In July, But Barely

By
Hung Tran
August 07, 2013
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The huge gold fund is fighting to remain the fifth-biggest ETF.

The SPDR Gold Shares (NYSEArca: GLD) held on to its position as the fifth-biggest U.S. exchange-traded fund by assets at the end of last month, but barely, as ongoing outflows continue to dog the world’s biggest gold ETF amid signs that the financial crisis that fueled gold’s 12-year rally is fading into history.

Also, the PowerShares QQQ (NasdaqGM: QQQ) gathered assets last month at a brisk pace, replacing the iShares MSCI Emerging Markets (NYSEArca: EEM) in the sixth spot. In fact, watch for QQQ to flip-flop positions soon with GLD. After all, the gold fund suffered outflows of $1.7 billion in July, making it the least popular ETF last month.

Moreover, gold has lost some 25 percent of its value this year because of the combination of investors’ skittishness over the U.S. Federal Reserve’s tapering of its commodities-friendly bond buys and on signs of economic recovery.

In an interview with IndexUniverse, Nouriel Roubini said: “Our forecast, medium term—meaning by 2015—is that gold is going down toward $1,000 an ounce, so from current levels, another 25-30 percent correction could occur.” Roubini is a keynote speaker next month at IndexUniverse’s “Inside Commodities” conference in New York.

GLD, which started 2013 as a $72 billion fund, has suffered outflows of about $20 billion this year, and including price declines, its total assets have dropped about 45 percent to $39 billion, according to data compiled by IndexUniverse.

ETF Giants July 2013

Ticker Name Issuer Flows AUM ($, M) Turnover
SPY SPDR S&P 500 SSgA 13,809.46 154,098.81 400,045.52
VWO Vanguard FTSE Emerging Markets Vanguard 220.81 50,027.07 18,944.10
IVV iShares Core S&P 500 BlackRock -342.14 44,728.97 19,687.70
EFA iShares MSCI EAFE BlackRock -253.45 42,058.83 19,637.17
GLD SPDR Gold SSgA -1,691.96 39,175.80 24,540.67
QQQ PowerShares QQQ Invesco PowerShares 1,246.05 37,001.99 44,596.33
EEM iShares MSCI Emerging Markets BlackRock 341.36 35,631.10 57,734.59
VTI Vanguard Total Stock Market Vanguard 960.39 33,455.06 4,147.48
IWM iShares Russell 2000 BlackRock 2,211.95 25,558.81 72,485.74
IWF iShares Russell 1000 Growth BlackRock 213.40 19,969.75 2,222.04

 

ETF Giants June 2013

Ticker Name Issuer Flows AUM ($, M) Turnover
SPY SPDR S&P 500 SSgA -2,497.29 133,335.51 572,603.67
VWO Vanguard FTSE Emerging Markets Vanguard -1,732.32 49,355.57 23,807.15
IVV iShares Core S&P 500 BlackRock 1,169.04 42,943.54 17,942.24
EFA iShares MSCI EAFE BlackRock 584.74 40,201.94 27,327.36
GLD SPDR Gold SSgA -1,831.86 37,137.64 32,007.67
EEM iShares MSCI Emerging Markets BlackRock -3,841.75 34,935.12 73,316.80
QQQ PowerShares QQQ Invesco PowerShares -210.05 33,645.15 53,958.70
VTI Vanguard Total Stock Market Vanguard 379.85 30,796.38 5,158.16
IWM iShares Russell 2000 BlackRock 905.06 21,852.07 96,859.40
LQD iShares iBoxx $ Investment Grade Corporate Bond BlackRock -2,432.38 19,463.22 8,329.55

 

 

ETF DAILY DATA

Investors plowed money into currency-hedged equity funds like ‘HEDJ’ and ‘DBEF’ on Wednesday, March 4, while yanking assets out of sundry bond funds, such as ‘HYG.’ Total U.S.-listed ETF assets dropped to $2.084 trillion as a market pullback offset net inflows.

Sizable outflows from various iShares bond funds paced that firm’s outflows on Wednesday, March 4. Total U.S.-listed ETF assets ended the day at $2.084 trillion.

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