Int'l Equity ETFs Fuel Weekly Inflows

May 05, 2017

ETF investors lightened up on their U.S. equity positions while adding to their international equity positions, according to the latest data from FactSet. In total, U.S.-listed ETFs registered net inflows of $1.6 billion in the week ending Thursday, May 4, but the contrast between the various asset classes was stark.

U.S. equity ETFs had outflows of $4.7 billion in the period, largely due to a $7 billion redemption in the SPDR S&P 500 ETF (SPY). The outflow took place despite a successful passage of the GOP health care bill in the House of Representatives and the release of a strong jobs report during the week, pushing the S&P 500 near its record high of 2,400.

On the flip side, international equity ETFs had inflows of $4.2 billion ahead of the French presidential run-off this weekend in which the centrist candidate Emmanuel Macron is expected to be victorious, according to polls. 

U.S. fixed-income and international fixed-income ETFs also saw inflows during the week, with creations of $1.3 billion and $500 million, respectively.

QQQ Leads Inflows, SPY Leads Outflows
In terms of individual ETFs, the PowerShares QQQ Trust (QQQ) was the only fund to have inflows of more than $1 billion during the period. 

International equity ETFs that did well during the week included the Vanguard FTSE Emerging Markets ETF (VWO), with inflows of $646 million; the Vanguard FTSE Developed Markets ETF (VEA), with inflows of $406 million; the iShares MSCI Eurozone ETF (EZU), with inflows of $398 million; and the iShares Core MSCI EAFE ETF (IEFA), with inflows of $395 million.

On the outflows side, as stated previously, SPY was the biggest loser, with redemptions of $7 billion. That was followed by the iShares Russell 2000 ETF (IWM), with outflows of $1.3 billion.

The iShares iBoxx $ High Yield Corporate Bond ETF (HYG), with redemptions of $658 million; the VanEck Vectors Gold Miners ETF (GDX), with redemptions of $533 million; and the PowerShares High Beta Portfolio (SPHB), with redemptions of $273 million, were a few other ETFs that fell out of favor this 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
QQQ PowerShares QQQ Trust 1,093.26 50,266.89 2.22%
VOO Vanguard S&P 500 Index Fund 724.52 66,696.14 1.10%
VWO Vanguard FTSE Emerging Markets ETF 646.15 53,592.89 1.22%
IVV iShares Core S&P 500 ETF 433.59 109,873.34 0.40%
VEA Vanguard FTSE Developed Markets ETF 405.89 50,909.03 0.80%
EZU iShares MSCI Eurozone ETF 398.13 10,788.86 3.83%
IEFA iShares Core MSCI EAFE ETF 394.66 24,453.21 1.64%
IWD iShares Russell 1000 Value ETF 384.76 37,296.57 1.04%
VTI Vanguard Total Stock Market Index Fund 326.31 77,778.03 0.42%
IXUS iShares Core MSCI Total International Stock ETF 318.93 5,788.07 5.83%

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 ETF Trust -7,018.20 230,926.19 -2.95%
IWM iShares Russell 2000 ETF -1,325.21 38,889.93 -3.30%
MDY SPDR S&P Midcap 400 ETF Trust -733.45 18,527.49 -3.81%
HYG iShares iBoxx $ High Yield Corporate Bond ETF -657.60 18,676.35 -3.40%
GDX VanEck Vectors Gold Miners ETF -532.93 9,597.22 -5.26%
SPHB PowerShares S&P 500 High Beta Portfolio -272.84 265.39 -50.69%
XLU Utilities Select Sector SPDR Fund -211.18 7,128.32 -2.88%
XBI SPDR S&P BIOTECH ETF -187.61 3,085.21 -5.73%
XLF Financial Select Sector SPDR Fund -176.01 23,148.46 -0.75%
XRT SPDR S&P Retail ETF -154.81 281.96 -35.45%

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity -4,665.00 1,627,254.54 -0.29%
International Equity 4,165.40 620,177.82 0.67%
U.S. Fixed Income 1,259.20 454,943.05 0.28%
International Fixed Income 469.18 47,588.09 0.99%
Commodities -49.00 63,723.45 -0.08%
Currency -34.93 2,821.22 -1.24%
Leveraged 568.99 26,832.66 2.12%
Inverse -91.90 17,272.50 -0.53%
Asset Allocation 43.44 6,924.21 0.63%
Alternatives -103.65 3,677.59 -2.82%
Total: 1,561.75 2,871,215.11 0.05%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
BMLP BMO Elkhorn DWA MLP Select Index ETN 289 1,680 581.00%
IVAL ValueShares International Quantitative Value ETF 8,431 32,943 390.75%
QVAL ValueShares U.S. Quantitative Value ETF 10,734 44,400 413.64%
CHIQ Global X China Consumer ETF 36,954 106,503 288.21%
JKF iShares Morningstar Large Cap Value ETF 13,222 35,709 270.08%
FXA CurrencyShares Australian Dollar Trust 21,652 63,264 292.19%
CQQQ Guggenheim China Technology ETF 20,778 58,338 280.77%
HOLD AdvisorShares Sage Core Reserves ETF 95 191 200.91%
PPLT ETFS Physical Platinum Shares 56,799 159,710 281.18%
SPXL Direxion Daily S&P 500 Bull 3x Shares 302,579 1,118,448 369.64%

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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