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June ETF Flows: Greece Woes Offset Inflows

June ETF Flows: Greece Woes Offset Inflows

Related ETFs: GLD | SLV | EEM | VWO | MOO | SPY | VO | IWM | VB | XLE | AGG | HYG | JNK | TIP | SHY


Investors plowed forward in June, adding more than $8 billion in new money to equities, fixed-income and other ETFs, even as Greece-related turmoil roiled financial markets and pulled total assets in U.S.-listed exchange-traded funds down 1.4 percent to $1.099 trillion.

To be sure, ETFs were hit by outflows in June from commodities and fixed-income funds, notably high-yield debt. But ETF flows remained strong, and totaled almost $30 billion in the second quarter and more than $58 billion in the entire first half of 2011, according to data compiled by IndexUniverse.

The SPDR S&P 500 ETF (NYSEArca: SPY), the world’s-biggest exchange-traded fund, hauled in $4.74 billion, reversing the nearly $5 billion it bled in May, when U.S.-listed ETFs had net outflows for the first time since last August. Some industry sources have speculated that the SPY creations reflected attempts by authorized participants to meet growing demand to short the highly liquid ETF as markets swooned.

Short of shorting, a number of prominent fixed-income funds benefited from the flight-to-safety impulse coursing through markets amid signs that Greece might be on course to default on its debt obligations.

For example, the iShares Barclays Aggregate Bond Fund (NYSEArca: AGG) gathered $590 million in new assets and the iShares Barclays TIPS Fund (NYSEArca: TIP) added almost $475 million. Also, the iShares Barclays 1-3 Year Treasury Bond Fund (NYSEArca: SHY) added $447 million in new assets last month.

Also, some commodities funds bucked the overall trend, raking in assets instead of bleeding them. The Market Vectors Agribusiness ETF (NYSEArca: MOO), for instance, gathered more than $474 million, a month after it was the single most popular U.S. ETF.


June Top Gainers ($, Millions) 6/30/2011
Ticker Name Issuer June 2011 Flows June 2011 AUM ($, M) June 2011 Turnover
SPY SPDR S&P 500 SSgA 4,741.63 92,092.58 607,948.00
VWO Vanguard MSCI Emerging Markets Vanguard 1,998.53 49,990.72 18,322.42
IWR iShares Russell Midcap BlackRock 633.48 7,069.79 860.48
AGG iShares Barclays Aggregate Bond BlackRock 590.08 11,850.28 2,782.06
TIP iShares Barclays TIPS Bond BlackRock 474.77 20,940.52 2,029.99
MOO Market Vectors Agribusiness Van Eck 474.39 5,538.75 2,410.85
XLV Health Care Select SPDR SSgA 453.58 4,235.54 8,155.47
SHY iShares Barclays 1-3 Year Treasury Bond BlackRock 447.24 8,380.38 2,862.14
VEA Vanguard MSCI EAFE Vanguard 411.73 7,196.07 1,835.52
XLU Utilities Select SPDR SSgA 376.76 4,699.35 4,701.23


Flows By Asset Class
Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 1,433.45 492,761.37 0.29%
International Equity 2,259.39 294,812.21 0.77%
U.S. Fixed Income 2,587.18 147,906.12 1.75%
International Fixed Income 867.13 10,955.06 7.92%
Commodities -759.11 105,582.65 -0.72%
Currency 442.77 5,826.92 7.60%
Leveraged 482.57 13,771.17 3.50%
Inverse 1,078.77 23,188.35 4.65%
Asset Allocation 60.99 918.01 6.64%
Alternatives -297.88 3,376.08 -8.82%
Total: 8,155.27 1,099,097.95 0.74%


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