Marijuana ETF 'MJX' Powers Strong Weekly Inflows

January 05, 2018

After registering record inflows last year, ETFs began 2018 on a strong note. According to FactSet, U.S.-listed ETFs took in $5.3 billion during the week ending Thursday, Jan. 4, a span that includes one trading session from 2017 and three trading sessions from 2018 (Monday was a holiday).

If 2018 inflows are to come anywhere close to last year's scorching $476.1 billion, investors have to keep plowing money into ETFs at a blistering pace. So far so good.

Unlike last year, U.S. equity ETFs weren't the most popular asset class among ETF investors during the first week of 2018. Only $139 million went into ETFs of that category, despite a strong opening week for the S&P 500. The venerable index rallied in each of its first four trading sessions of 2018, and was already up 2.6% year-to-date as of Friday.

It was U.S. fixed-income ETFs and international equity ETFs that took in the most money—$2.9 billion and $2.5 billion, respectively. International fixed-income ETFs also fared well, gathering $871 million during the week.

IVV On Top, But MJX Shines Bright

In terms of individual ETFs, the iShares Core S&P 500 ETF (IVV) took the top spot during the period, with inflows of $1.1 billion. It also was the biggest flows winner of last year, when it took in $30.2 billion.

Ironically, the most-talked-about ETF that took in substantial flows this week isn't even on the top 10 list for the period. The ETFMG Alternative Harvest ETF (MJX) became the first U.S.-listed marijuana ETF on the market, on Dec. 26, and immediately gained traction with investors.

In the past week, the fund had inflows of $229 million, catapulting its assets under management from $6 million to $273 million. The fund has also performed well, rising 20% since its debut, and nearly 12% in the past week.

Wild Ride For UGAZ

On the outflows side, the SPDR S&P 500 ETF Trust (SPY) took the No. 1 spot, with redemptions of $3.2 billion.

Another notable loser was the VelocityShares 3X Long Natural Gas ETN (UGAZ), with outflows of more than $300 million. The ETN had a wild ride recently, rising 56% between Dec. 21 and Jan. 2, before plunging by 23% over the next three days.

Natural gas prices haven't been able to get much traction despite record-breaking cold across much of the U.S.

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 1,072.24 144,643.41 0.75%
AGG iShares Core U.S. Aggregate Bond ETF 861.73 53,629.38 1.63%
XLI Industrial Select Sector SPDR Fund 817.47 13,505.41 6.44%
JNK SPDR Bloomberg Barclays High Yield Bond ETF 807.88 13,340.22 6.45%
EMB iShares JP Morgan USD Emerging Markets Bond ETF 624.46 12,782.44 5.14%
XLE Energy Select Sector SPDR Fund 623.11 19,306.34 3.34%
XLF Financial Select Sector SPDR Fund 523.08 33,362.98 1.59%
MDY SPDR S&P Midcap 400 ETF Trust 434.76 21,105.90 2.10%
TIP iShares TIPS Bond ETF 387.18 24,338.67 1.62%
XLY Consumer Discretionary Select Sector SPDR Fund 370.02 13,452.19 2.83%

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 ETF Trust -3,207.51 272,675.55 -1.16%
IWM iShares Russell 2000 ETF -1,684.84 42,165.79 -3.84%
QQQ PowerShares QQQ Trust -1,082.70 58,763.46 -1.81%
XLP Consumer Staples Select Sector SPDR Fund -655.96 8,726.43 -6.99%
CIU iShares Intermediate Credit Bond ETF -536.76 7,658.99 -6.55%
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF -494.77 38,430.92 -1.27%
XLU Utilities Select Sector SPDR Fund -322.78 7,065.54 -4.37%
XIV VelocityShares Daily Inverse VIX Short-Term ETN -305.33 1,142.96 -21.08%
UGAZ VelocityShares 3X Long Natural Gas ETN -300.83 864.05 -25.82%
IJR iShares Core S&P Small Cap ETF -277.41 36,269.02 -0.76%

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 138.89 1,942,812.62 0.01%
International Equity 2,529.97 814,474.49 0.31%
U.S. Fixed Income 2,948.46 525,990.26 0.56%
International Fixed Income 871.27 59,565.88 1.46%
Commodities -213.23 67,683.16 -0.32%
Currency -7.41 1,244.46 -0.60%
Leveraged -643.58 34,689.62 -1.86%
Inverse -327.22 14,810.43 -2.21%
Asset Allocation 50.96 8,980.49 0.57%
Alternatives -25.65 4,126.95 -0.62%
Total: 5,322.48 3,474,378.37 0.15%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
QXTR QuantX Risk Managed Multi-Asset Total Return ETF 5,562 36,473 655.79%
DBP PowerShares DB Precious Metals Fund 45,411 226,526 498.84%
MJX ETFMG Alternative Harvest ETF 531,200 4,151,537 781.54%
PSC Principal U.S. Small-Cap Multi-Factor Index ETF 325 1,548 475.50%
EXT WisdomTree U.S. Total Earnings Fund 7,756 36,493 470.52%
CACG ClearBridge All Cap Growth ETF 24,924 97,601 391.60%
HUSE US Market Rotation Strategy ETF 16,238 64,140 395.01%
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund 55,431 165,607 298.76%
LVHI Legg Mason International Low Volatility High Dividend ETF 5,058 13,838 273.57%
IDX VanEck Vectors Indonesia Index ETF 25,996 93,271 358.79%

 

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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