Strongest Weekly ETF Inflows Since June

October 06, 2017

Weekly inflows zoomed to their strongest level since June, as a string of record highs in the U.S. stock market lent confidence to investors. In total, $12 billion entered U.S.-listed ETFs during the week ending Thursday, Oct. 5, according to FactSet.

That was the best haul since a monster $30.4 billion entered ETFs during the second week of June, and pushes year-to-date inflows to a record $344.5 billion. Total ETF assets now stand above $3.2 trillion.

Longest Streak Since '97

Throughout the week, it wasn't just ETF flows that were hitting records. The S&P 500 rallied for eight-straight sessions through Thursday, its longest winning streak since 2013. At the same time, the index was on a six-session roll of hitting record highs, the longest such streak since 1997.

The S&P 500 topped 2,552 on Thursday, equaling a year-to-date gain of 15.8%. However, the streak of records was at risk of ending on Friday after a disappointing jobs report―nonfarm payrolls contracted for the first time since 2010 in September―prompted investors to take profits.

Meanwhile, bond yields jumped to their highest level in three months this week, as expectations grew that the Federal Reserve will hike interest rates in December. The 10-year Treasury bond yield was last trading at 2.37%, up from 2.33% a week ago.

Aside from the weak jobs report, which was weighed down by hurricane activity, recent economic data has been strong.

The ISM Manufacturing index, for example, hit 60.8 in September, its best level since 2004. Likewise, the ISM Non-Manufacturing Index hit 59.8, its highest level since 2005.

'IEFA' Tops Inflows List

Despite slumping bond prices, U.S. fixed-income ETFs continued to pull in billions of dollars of new money. That segment had inflows of $2.7 billion, led by inflows of $713 million for the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) and $573 million for the iShares iBoxx $ High Yield Corporate Bond ETF (HYG).

However, the largest amount of money went into U.S. and international equity ETFs. The former had inflows of $5.8 billion during the period, while the latter had inflows of $3.6 billion.

Big equity ETF winners included the iShares Core MSCI EAFE ETF (IEFA) and the Industrial Select Sector SPDR Fund (XLI), with inflows of more than $1 billion apiece.

One segment to see outflows during the week was commodity ETFs, with net redemptions of $268 million. The biggest loser in that space was the SPDR Gold Trust (GLD), with outflows of nearly $550 million.

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
IEFA iShares Core MSCI EAFE ETF 1,190.22 37,398.33 3.29%
XLI Industrial Select Sector SPDR Fund 1,063.34 12,141.63 9.60%
VEA Vanguard FTSE Developed Markets ETF 910.67 63,897.86 1.45%
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF 713.41 38,285.39 1.90%
IVV iShares Core S&P 500 ETF 608.23 128,041.01 0.48%
XLF Financial Select Sector SPDR Fund 597.18 28,185.85 2.16%
HYG iShares iBoxx $ High Yield Corporate Bond ETF 573.17 19,871.98 2.97%
IJR iShares Core S&P Small Cap ETF 481.40 34,280.11 1.42%
IWF iShares Russell 1000 Growth ETF 361.88 37,447.31 0.98%
IWD iShares Russell 1000 Value ETF 337.55 37,640.21 0.90%

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 ETF Trust -715.79 244,046.94 -0.29%
TLT iShares 20+ Year Treasury Bond ETF -635.28 8,845.52 -6.70%
QQQ PowerShares QQQ Trust -623.82 52,078.93 -1.18%
GLD SPDR Gold Trust -546.21 34,865.28 -1.54%
XLP Consumer Staples Select Sector SPDR Fund -488.51 8,293.99 -5.56%
IYR iShares U.S. Real Estate ETF -386.75 4,183.93 -8.46%
DIA SPDR Dow Jones Industrial Average ETF Trust -349.01 18,578.34 -1.84%
IWB iShares Russell 1000 ETF -301.40 19,297.51 -1.54%
SSO ProShares Ultra S&P 500 -268.71 1,929.81 -12.22%
QLD ProShares Ultra QQQ -256.50 1,341.28 -16.05%

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 5,845.65 1,766,969.40 0.33%
International Equity 3,555.08 742,217.97 0.48%
U.S. Fixed Income 2,650.18 509,647.24 0.52%
International Fixed Income 739.52 55,133.35 1.34%
Commodities  -268.15 65,282.11 -0.41%
Currency -67.56 1,316.84 -5.13%
Leveraged -324.77 30,021.30 -1.08%
Inverse -305.52 17,351.57 -1.76%
Asset Allocation 18.76 8,447.32 0.22%
Alternatives 121.30 4,112.93 2.95%
Total: 11,964.47 3,200,500.03 0.37%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
KCE SPDR S&P Capital Markets ETF 9,141 33,562 367.15%
IBDD iShares iBonds Mar 2023 Term Corporate ETF 6,403 20,381 318.31%
FRAK VanEck Vectors Unconventional Oil & Gas ETF 36,323 125,456 345.39%
PDN Powershares FTSE RAFI Developed Markets ex-US Small-Mid ETF 26,036 72,409 278.12%
DMRM DeltaShares S&P 400 Managed Risk ETF 10 49 480.89%
QUS SPDR MSCI USA StrategicFactors ETF 3,437 11,506 334.79%
MLPC C-Tracks Miller/Howard MLP Fundamental ETN 1,871 6,400 342.04%
EGPT VanEck Vectors Egypt Index ETF 13,939 39,763 285.27%
FDIV First Trust Strategic Income ETF 14,548 65,313 448.95%
HYMB SPDR Nuveen S&P High Yield Municipal Bond ETF 100,601 326,368 324.42%

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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