Dow Jones & Health Care ETFs Fuel $10B Weekly Inflows

February 10, 2017

The influx of money into ETFs continued in the latest week as U.S. stock markets hit record highs. In total, $10.3 billion flowed into U.S.-listed exchange-traded funds in the week ending Thursday, Feb. 9, according to FactSet.

The money flowed relatively evenly into the various asset classes. U.S. equity ETFs had inflows of $2.3 billion; international equity ETFs had inflows of $3.3 billion; U.S. fixed-income ETFs had inflows of $3.1 billion; international equity ETFs had inflows of $640 million; and commodity ETFs had inflows of $1.1 billion.

On Friday, the S&P 500 hit a record high of above 2,319, putting the index up 3.8% for the year. Meanwhile, the 10-year bond yield sagged about 6 basis points week-over-week to last trade around 2.4%, and the U.S. Dollar Index rebounded about 1% in the period from its lowest levels of the year. 

DIA, XLV & GLD Top Inflows List

When it comes to individual ETFs, the SPDR Dow Jones Industrial Average ETF (DIA) swooped in to take the No. 1 spot for the week. Its inflows of $1.1 billion represented a 6.6% increase in its assets under management. So far this year, the fund has seen $2.6 billion worth of inflows; since the election on Nov. 8, its inflows are an even-more-impressive $4.5 billion.

At the No. 2 position was the Health Care Select Sector SPDR Fund (XLV), which took in $970 million, representing a hefty 6.8% jump in total assets. The only sector to finish down last year, health care may be seeing some bargain buying by investors now. 

A few other sector ETFs to make the weekly top 10 flows list are the Industrial Select Sector SPDR Fund (XLI) and the Utilities Select Sector SPDR Fund (XLU), with inflows of $470 million and $380 million, respectively.

The SPDR Gold Trust (GLD) was another interesting fund to find itself on this week's list. Its $850 million of inflows were enough to push the fund's year-to-date inflows total into positive territory. GLD now has about $460 million worth of creations for 2017 as a whole.

During the week, gold prices rallied as high as $1,245 and were last trading 7% higher on the year.

Profit-Taking In SPY & IWM

On the outflows side, two giants topped the list. The SPDR S&P 500 ETF (SPY) and the iShares Russell 2000 ETF (IWM) had redemptions of more than $2.1 billion each, likely due to profit-taking. 

A pair of sector ETFs also saw selling. The Consumer Staples Sector SPDR Fund (XLP) and the iShares U.S. Real Estate ETF (IYR) had outflows of $600 million and $130 million, respectively.

Three other interesting funds to see notable outflows were the iShares MSCI Canada ETF (EWC), the iShares National Muni Bond ETF (MUB) and the iShares Edge MSCI Min Vol USA ETF (USMV), with redemptions ranging from $128 million to $192 million. 

Finally, rounding out the outflows list was the Direxion Daily Gold Miners Index Bull 3x Shares (NUGT). It had outflows of $128 million, or 5.8% of AUM, during the week.

For a full list of this week's top inflows and outflows, see the tables below:

 

Top 10 Creations (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
DIA SPDR Dow Jones Industrial Average ETF Trust 1,083.27 17,525.58 6.59%
XLV Health Care Select Sector SPDR Fund 971.14 15,183.19 6.83%
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF 935.49 29,643.64 3.26%
GLD SPDR Gold Trust 851.72 33,245.95 2.63%
IEMG iShares Core MSCI Emerging Markets ETF 710.38 21,852.35 3.36%
VEA Vanguard FTSE Developed Markets ETF 704.02 43,386.15 1.65%
XLI Industrial Select Sector SPDR Fund 470.75 10,772.42 4.57%
EMB iShares JP Morgan USD Emerging Markets Bond ETF 437.50 8,654.06 5.32%
VTI Vanguard Total Stock Market Index Fund 432.54 72,860.62 0.60%
XLU Utilities Select Sector SPDR Fund 378.38 6,797.28 5.89%

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 ETF Trust -2,278.84 223,549.61 -1.01%
IWM iShares Russell 2000 ETF -2,101.74 35,652.66 -5.57%
XLP Consumer Staples Select Sector SPDR Fund -599.93 7,614.87 -7.30%
HYG iShares iBoxx $ High Yield Corporate Bond ETF -472.10 17,903.00 -2.57%
QQQ PowerShares QQQ Trust -467.32 43,403.41 -1.07%
EWC iShares MSCI Canada ETF -191.76 3,541.30 -5.14%
MUB iShares National Muni Bond ETF -130.25 7,992.65 -1.60%
USMV iShares Edge MSCI Min Vol USA ETF -128.62 12,055.42 -1.06%
IYR iShares U.S. Real Estate ETF -128.01 4,079.90 -3.04%
NUGT Direxion Daily Gold Miners Index Bull 3x Shares -127.70 2,073.75 -5.80%

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 2,321.16 1,530,572.10 0.15%
International Equity 3,280.52 550,934.35 0.60%
U.S. Fixed Income 3,135.08 430,206.60 0.73%
International Fixed Income 637.55 42,188.40 1.51%
Commodities 1,065.13 64,452.75 1.65%
Currency -78.44 2,982.82 -2.63%
Leveraged -225.50 25,727.62 -0.88%
Inverse 151.87 16,824.12 0.90%
Asset Allocation 5.65 6,559.98 0.09%
Alternatives -0.87 3,899.04 -0.02%
Total: 10,292.15 2,674,347.76 0.38%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
PBD Powershares Global Clean Energy Portfolio 17,237 62,294 361.40%
PST ProShares UltraShort 7-10 Year Treasury 45,410 117,784 259.38%
ZMLP Direxion Zacks MLP High Income Index Shares 22,990 50,782 220.89%
VMBS Vanguard Mortgage-Backed Securities Index Fund 477,988 980,435 205.12%
XHE SPDR S&P Health Care Equipment ETF 21,952 58,008 264.25%
FRAK VanEck Vectors Unconventional Oil & Gas ETF 50,210 144,178 287.15%
EES WisdomTree SmallCap Earnings Fund 12,699 39,287 309.37%
FBND Fidelity Total Bond ETF 64,602 121,956 188.78%
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 6,798 11,777 173.24%
KBWB PowerShares KBW Bank Portfolio 432,945 1,195,281 276.08%

Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.

 

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