YTD Inflows Near $400B Despite Junk Bond Outflows

November 17, 2017

Another week, another record for ETF inflows. About $5.4 billion flowed into U.S.-listed ETFs during the week ending Thursday, Nov. 16, according to FactSet, pushing year-to-date inflows to $398 billion.

Encouraged by the passage of the Republican tax reform bill in the House of Representatives, investors added $3.7 billion to U.S. equity ETFs. The positive mood spilled over into international equity ETFs also, which had inflows of $1.6 billion of their own.

However, the week was not without worries. The S&P 500 fell slightly for a second-straight week amid the realization that there is still a lot of work to be done to reconcile the House and Senate versions of the tax bills.

There was also some angst about this month's dip in the junk bond market. ETFs such as the iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and the SPDR Bloomberg Barclays High Yield Bond ETF (JNK) hit seven-month lows during the middle of the week before rebounding modestly.

Big Outflows

The junk bond duo had sizable outflows of $348 million and $934 million, respectively, this week.

Also finding themselves on the weekly outflows list were the WisdomTree Europe Hedged Equity Fund (HEDJ), the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) and the iShares 20+ Year Treasury Bond ETF (TLT).

On the flip side, the PowerShares QQQ Trust (QQQ) topped the weekly inflows list, followed by the First Trust Technology AlphaDex Fund (FXL) and the iShares Core U.S. Aggregate Bond ETF (AGG).

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 1,326.91 58,592.00 2.32%
FXL First Trust Technology AlphaDEX Fund 648.45 1,585.23 69.22%
AGG iShares Core U.S. Aggregate Bond ETF 600.46 51,730.24 1.17%
XLF Financial Select Sector SPDR Fund 465.28 28,796.57 1.64%
IVV iShares Core S&P 500 ETF 452.91 134,836.21 0.34%
XLY Consumer Discretionary Select Sector SPDR Fund 342.54 11,976.36 2.94%
VEU Vanguard FTSE All-World ex-US ETF 337.22 22,061.65 1.55%
USMV iShares Edge MSCI Min Vol USA ETF 326.65 14,720.17 2.27%
XLU Utilities Select Sector SPDR Fund 312.40 8,138.52 3.99%
IWD iShares Russell 1000 Value ETF 286.14 38,110.85 0.76%

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 ETF Trust -1,453.10 246,855.64 -0.59%
JNK SPDR Bloomberg Barclays High Yield Bond ETF -934.48 11,660.48 -7.42%
FXU First Trust Utilities AlphaDEX Fund -503.68 458.33 -52.36%
HYG iShares iBoxx $ High Yield Corporate Bond ETF -348.12 18,194.56 -1.88%
BKLN PowerShares Senior Loan Portfolio -272.35 8,351.70 -3.16%
VTV Vanguard Value ETF -215.06 34,458.97 -0.62%
HEDJ WisdomTree Europe Hedged Equity Fund -206.91 8,646.74 -2.34%
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF -203.02 38,835.65 -0.52%
XOP SPDR S&P Oil & Gas Exploration & Production ETF -198.03 2,041.53 -8.84%
TLT iShares 20+ Year Treasury Bond ETF -189.73 7,277.93 -2.54%

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 3,683.99 1,810,632.64 0.20%
International Equity 1,626.42 764,749.59 0.21%
U.S. Fixed Income -361.88 514,316.99 -0.07%
International Fixed Income 143.44 55,934.94 0.26%
Commodities 138.50 65,791.17 0.21%
Currency -19.49 1,311.27 -1.49%
Leveraged 231.97 31,203.39 0.74%
Inverse -29.06 17,315.78 -0.17%
Asset Allocation 17.90 8,627.56 0.21%
Alternatives -65.95 4,122.58 -1.60%
Total: 5,365.84 3,274,005.92 0.16%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
VBND Vident Core U.S. Bond Strategy ETF 37,058 146,692 395.84%
DBGR Xtrackers MSCI Germany Hedged Equity ETF 19,023 53,128 279.28%
GRES IQ Global Resources ETF 16,311 43,403 266.09%
SOCL Global X Social Media ETF 52,896 120,250 227.33%
TDTF FlexShares iBoxx 5 Year Target Duration TIPS Index Fund 90,568 218,545 241.30%
FAN First Trust Global Wind Energy ETF 78,916 210,054 266.17%
JPGB JPMorgan Global Bond Opportunities ETF 4,400 12,282 279.17%
SRET Global X SuperDividend REIT ETF 28,127 64,220 228.32%
DBJP Xtrackers MSCI Japan Hedged Equity ETF 521,635 999,583 191.62%
FMAT Fidelity MSCI Materials Index ETF 66,051 151,943 230.04%

 

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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