Weekly Inflows Total A Monster $24B Thanks To 'SPY'

March 03, 2017

Huge inflows into U.S. equity ETFs―and one ETF in particular―pushed weekly inflows to a monster $23.5 billion. The SPDR S&P 500 ETF (SPY) alone pulled in $12.6 billion in the week ending Thursday, March 2, according to FactSet. The latest wave of cash into ETFs means that year-to-date inflows now stand at a stunning $101.7 billion.

SPY's big weekly haul made up most of the flows into U.S. equity ETFs, which had net creations of $18.2 billion in the period. The S&P 500 relentlessly rallied all week long, hitting a record high of 2,401 on Thursday before pulling back modestly. The index is already up close to 7% for the year after just two short months.

Other ETF segments to see inflows during the week were international equity, with $1.7 billion; U.S. fixed income, with $2.9 billion; international fixed income, with $300 million; and commodities, with $158 million.

Winners Other Than 'SPY'
Though SPY was far and away the inflows leader for the week, there were a few other noteworthy ETFs to make the top 10. The Consumer Staples Select Sector SPDR Fund (XLP) had creations of $615 million, which translates to a 7.2% increase in its assets under management.

On the international front, the iShares Core MSCI EAFE ETF (IEFA) garnered inflows of $723 million. International stocks have largely been overshadowed by their U.S. counterparts so far this year, but IEFA returned a respectable 5.5% to-date in 2017.

Meanwhile, the Vanguard Short-Term Corporate Bond Index Fund (VCSH) and the iShares TIPS Bond ETF (TIP) were a pair of fixed-income ETFs to make the inflows list, with creations of around $288 million each. 

Outflows From Treasury & Volatility ETFs
On the outflows side, the iShares 20+ Year Treasury Bond ETF (TLT) saw redemptions of $412 million, equaling a 7.4% drop in its AUM. Treasurys sold off and interest rates spiked significantly this week, with the 10-year yield jumping from 2.3% to 2.5% in the period.

The iPath S&P 500 VIX Short-Term Futures ETN (VXX) was another flows loser this week. It had redemptions of $217 million, equaling a drop of 16.6% in its assets under management.

A few sector and industry funds to fall out of favor were the Technology Select Sector SPDR Fund (XLK), the iShares U.S. Basic Materials ETF (IYM) and the iShares U.S. Medical Devices ETF (IHI). Outflows from the funds ranged from $135 million to $155 million. 

Finally, two single-country ETFs also made the outflows list. The iShares MSCI Mexico Capped ETF (EWW) and the iShares MSCI Canada ETF (EWC) saw outflows of around $150 million each.

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
SPY SPDR S&P 500 ETF Trust 12,566.14 249,613.40 5.30%
IEFA iShares Core MSCI EAFE ETF 722.73 19,468.55 3.86%
XLP Consumer Staples Select Sector SPDR Fund 614.91 9,166.82 7.19%
VOO Vanguard S&P 500 Index Fund 588.04 64,411.25 0.92%
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF 546.62 30,608.88 1.82%
QQQ PowerShares QQQ Trust 531.03 46,127.39 1.16%
IVV iShares Core S&P 500 ETF 441.96 99,343.91 0.45%
VUG Vanguard Growth Index Fund 360.00 25,103.16 1.45%
VCSH Vanguard Short-Term Corporate Bond Index Fund 288.60 17,418.47 1.68%
TIP iShares TIPS Bond ETF 287.08 22,670.29 1.28%

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
TLT iShares 20+ Year Treasury Bond ETF -412.26 5,195.26 -7.35%
IWM iShares Russell 2000 ETF -374.76 37,647.65 -0.99%
IJH iShares Core S&P Mid-Cap ETF -275.35 39,201.68 -0.70%
VXX iPath S&P 500 VIX Short-Term Futures ETN -216.79 1,085.83 -16.64%
XLK Technology Select Sector SPDR Fund -154.75 16,756.43 -0.92%
EWW iShares MSCI Mexico Capped ETF -150.97 1,659.92 -8.34%
EWC iShares MSCI Canada ETF -149.57 3,401.74 -4.21%
IYM iShares U.S. Basic Materials ETF -141.54 770.70 -15.52%
IHI iShares U.S. Medical Devices ETF -135.10 1,069.35 -11.22%
IWD iShares Russell 1000 Value ETF -128.88 37,350.61 -0.34%

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 18,246.04 1,628,536.72 1.12%
International Equity 1,664.90 566,280.38 0.29%
U.S. Fixed Income 2,864.43 436,146.82 0.66%
International Fixed Income 300.60 43,354.34 0.69%
Commodities 157.63 65,247.29 0.24%
Currency -8.99 3,033.80 -0.30%
Leveraged 262.66 26,767.70 0.98%
Inverse 153.02 16,934.31 0.90%
Asset Allocation 112.10 6,783.03 1.65%
Alternatives -214.05 3,868.87 -5.53%
Total: 23,538.35 2,796,953.25 0.84%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
WBIE WBI Tactical LCG Shares 13,953 61,397 440.03%
WBIL WBI Tactical LCS Shares 14,039 57,859 412.12%
WBIG WBI Tactical LCY Shares 16,334 62,316 381.50%
PEJ PowerShares Dynamic Leisure & Entertainment Portfolio 41,194 117,362 284.90%
CEMB iShares Emerging Markets Corporate Bond ETF 13,069 36,237 277.28%
WBII WBI Tactical Income Shares 41,918 122,561 292.38%
IBCD iShares iBonds Mar 2020 Term Corporate ex-Financials ETF 18,344 46,255 252.16%
WBIH WBI Tactical High Income Shares 43,242 122,445 283.16%
IYJ iShares U.S. Industrials ETF 107,486 265,963 247.44%
GQRE FlexShares Global Quality Real Estate Index Fund 11,211 29,814 265.93%

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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