ETF Inflows Hit $353B As 'SPY' & 'IVV' Diverge

October 13, 2017

 
Stock markets and ETF inflows continued to ascend to record highs this week as investor confidence remained strong. A total of $8.3 billion flowed into U.S.-listed exchange-traded funds, pushing year-to-date inflows to $353.1 billion.
 
There's seemingly no end in sight to the deluge of money that's been headed into ETFs, with asset classes across the board benefiting. 
 
The only thing that changes from week to week is which segment of the ETF universe benefits the most. This time it was international equity ETFs that garnered the strongest inflows, at $4.1 billion. That was followed by U.S. equity ETFs, with inflows of $1.8 billion, and U.S. fixed-income ETFs, with inflows of $1.7 billion.
 
All-Time Global Highs 
During the week, the S&P 500 crept up to yet another all-time high. The index was last trading around 2,557, for a year-to-date gain of nearly 16%. 
 
Other milestones reached during the week included an all-time high for the MSCI World Index; a 21-year high for Japanese stocks; and a six-year high for emerging markets.
 
Meanwhile, in fixed-income markets, the U.S. 10-year Treasury bond yield sagged to its lowest point since late September, at 2.28%, even as Federal Reserve officials signaled that a December rate hike is likely. 
 
The Fed news was offset by reports about the European Central Bank, which, according to sources, may extend its quantitative easing program by nine months, until September of next year. Monthly bond purchases are expected to be cut in half, to 30 billion euros, starting in January, if sources are correct.
 
'IVV' & 'SPY' Diverge 
In terms of weekly flows winners and losers, the top spot went to the iShares Core S&P 500 ETF (IVV), with an inflow of $1.3 billion. IVV also holds the mantle as the biggest flows winner year-to-date, with inflows totaling a whopping $25.2 billion.
 
The iShares Core MSCI Emerging Markets ETF (IEMG) and the iShares Core MSCI EAFE ETF (IEFA) were other popular products during the week, with creations of $962 million and $863 million, respectively.
 
On the outflows side, the SPDR S&P 500 ETF Trust (SPY) was the biggest loser, with a redemption of $866 million. Year-to-date outflows for the fund total $10.8 billion and stand in sharp contrast to IVV.
 
 
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
IVV iShares Core S&P 500 ETF 1,255.48 129,846.69 0.98%
IEMG iShares Core MSCI Emerging Markets ETF 961.71 38,590.78 2.56%
IEFA iShares Core MSCI EAFE ETF 863.24 38,148.45 2.32%
XLI Industrial Select Sector SPDR Fund 629.20 12,682.09 5.22%
VTI Vanguard Total Stock Market ETF 474.78 85,955.07 0.56%
VV Vanguard Large-Cap ETF 462.78 10,378.49 4.67%
HYG iShares iBoxx $ High Yield Corporate Bond ETF 370.36 20,247.91 1.86%
QQQ PowerShares QQQ Trust 345.70 53,155.80 0.65%
ITOT iShares Core S&P Total U.S. Stock Market ETF 338.60 11,687.82 2.98%
VWO Vanguard FTSE Emerging Markets ETF 317.46 64,417.71 0.50%

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 ETF Trust -866.49 244,528.24 -0.35%
XLU Utilities Select Sector SPDR Fund -528.94 7,509.91 -6.58%
XLP Consumer Staples Select Sector SPDR Fund -402.23 7,822.56 -4.89%
EWP iShares MSCI Spain Capped ETF -364.34 1,080.47 -25.22%
TLT iShares 20+ Year Treasury Bond ETF -323.08 8,670.63 -3.59%
IWB iShares Russell 1000 ETF -312.61 19,460.18 -1.58%
FEX First Trust Large Cap Core AlphaDEX Fund -295.31 1,490.88 -16.53%
MDY SPDR S&P Midcap 400 ETF Trust -239.67 19,184.77 -1.23%
XLV Health Care Select Sector SPDR Fund -232.35 17,709.35 -1.30%
FTA First Trust Large Cap Value AlphaDEX Fund -209.92 1,044.15 -16.74%

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 1,799.22 1,775,130.58 0.10%
International Equity 4,093.75 749,732.15 0.55%
U.S. Fixed Income 1,657.75 510,514.98 0.32%
International Fixed Income 192.51 55,231.67 0.35%
Commodities ETFs 97.54 66,479.08 0.15%
Currency 27.96 1,332.12 2.10%
Leveraged 426.65 30,563.22 1.40%
Inverse -100.75 17,153.29 -0.59%
Asset Allocation 73.15 8,524.52 0.86%
Alternatives 15.74 4,074.34 0.39%
Total: 8,283.52 3,218,735.96 0.26%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
VV Vanguard Large-Cap ETF 270,481 1,091,034 403.37%
MLPZ ETRACS 2xMonthly Leveraged S&P MLP Index ETN Series B 282 963 341.35%
NORW Global X MSCI Norway ETF 185,944 682,271 366.92%
HYLB Deutsche X-trackers USD High Yield Corporate Bond ETF 30,277 155,396 513.24%
IWL iShares Russell Top 200 ETF 5,041 19,936 395.45%
DEUS Deutsche X-trackers Russell 1000 Comprehensive Factor ETF 44,056 140,039 317.86%
ELD WisdomTree Emerging Markets Local Debt Fund 39,570 141,944 358.71%
SIZE iShares Edge MSCI USA Size Factor ETF 22,130 49,522 223.78%
CCOR Cambria Core Equity ETF 17,517 36,246 206.92%
IWV iShares Russell 3000 ETF 148,225 287,894 194.23%

 

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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