SPY Assets Approach $300B After Big Weekly Inflows

January 19, 2018

Investors added $15.9 billion to U.S.-listed ETFs this week as the stock market continued to “melt up.” According to FactSet, $9.8 billion went into U.S. equity ETFs during the week ending Thursday, Jan. 18, helping to propel the S&P 500 to a record 2,808. The index is already up 5% this year.

International equity ETFs also fared well, with inflows of $5.4 billion of their own. On the other hand, U.S. fixed-income ETFs had outflows of $1.7 billion as bond prices sagged and interest rates climbed on the prospect of a more aggressive Fed.

The U.S. 10-year Treasury yield reached nearly 2.65%, the highest level since 2014, as investors shunned bonds amid expectations that the economy and inflation will pick up.

Year-to-date inflows for all U.S.-listed ETFs now stand at $33.8 billion

SPY’s AUM Approaches $300B
Taking in the bulk of this week’s inflows was one fund: the SPDR S&P 500 ETF Trust (SPY). Its $7.8 billion of inflows pushed assets under management for the world’s largest ETF to $292.4 billion, not far from the $300 billion milestone.

Meanwhile, the iShares Core MSCI Emerging Markets ETF (IEMG) was the top international equity fund of the week, with inflows of $1 billion, while the Vanguard Total International Bond ETF (BNDX) was the most popular fixed-income product, with inflows of $571 million.

Notably, the ProShares Short VIX Short-Term Futures ETF (SVXY) saw $500 million come into the fund, pushing its AUM up by 60%. However, prices for the fund dropped nearly 5% this week as the VIX climbed to as high as 12.8 ahead of a potential government shutdown this weekend.

Investors Shun Bond ETFs

On the outflows side of the ledger, fixed-income products made several appearances. The iShares Russell 1000 Value ETF (IWD) took the No. 1 position, with outflows of $1.2 billion.

But below that were the SPDR Bloomberg Barclays High Yield Bond ETF (JNK), the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD), the iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and the iShares 7-10 Year Treasury Bond ETF (IEF).

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
SPY SPDR S&P 500 ETF Trust 7,775.06 292,401.35 2.73%
IEMG iShares Core MSCI Emerging Markets ETF 999.54 47,424.56 2.15%
IWM iShares Russell 2000 ETF 827.79 43,361.39 1.95%
IEFA iShares Core MSCI EAFE ETF 801.82 45,654.20 1.79%
EWJ iShares MSCI Japan ETF 736.91 21,883.05 3.48%
BNDX Vanguard Total International Bond ETF 571.17 9,994.77 6.06%
DIA SPDR Dow Jones Industrial Average ETF Trust 510.80 24,769.82 2.11%
EEM iShares MSCI Emerging Markets ETF 509.38 42,979.17 1.20%
GLD SPDR Gold Trust 506.99 36,097.83 1.42%
SVXY ProShares Short VIX Short-Term Futures ETF 495.67 1,317.50 60.31%

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
IWD iShares Russell 1000 Value ETF -1,223.03 40,283.29 -2.95%
JNK SPDR Bloomberg Barclays High Yield Bond ETF -1,124.46 12,255.18 -8.40%
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF -868.36 37,409.41 -2.27%
HYG iShares iBoxx $ High Yield Corporate Bond ETF -849.23 16,927.07 -4.78%
DXJ WisdomTree Japan Hedged Equity Fund -620.60 9,184.05 -6.33%
IEF iShares 7-10 Year Treasury Bond ETF -460.12 7,887.00 -5.51%
IWF iShares Russell 1000 Growth ETF -451.71 41,850.62 -1.07%
IYR iShares U.S. Real Estate ETF -405.60 3,600.08 -10.13%
QQQ PowerShares QQQ Trust -286.75 61,594.82 -0.46%
VV Vanguard Large-Cap ETF -282.56 11,900.91 -2.32%

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 9,846.09 2,018,038.72 0.49%
International Equity 5,441.49 855,846.28 0.64%
U.S. Fixed Income -1,734.99 524,242.17 -0.33%
International Fixed Income 1,229.11 62,301.86 1.97%
Commodities  459.75 68,980.70 0.67%
Currency -40.34 1,222.04 -3.30%
Leveraged -361.75 36,590.05 -0.99%
Inverse 951.77 15,431.61 6.17%
Asset Allocation 20.73 9,198.55 0.23%
Alternatives 93.31 4,498.48 2.07%
Total: 15,905.17 3,596,350.46 0.44%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
CEW WisdomTree Emerging Currency Strategy Fund 24,408 169,877 696.00%
ULVM USAA MSCI USA Value Momentum Blend Index ETF 48,810 231,935 475.18%
BCI ETFS Bloomberg All Commodity Strategy K-1 Free ETF 82,731 386,139 466.74%
RJA Elements Rogers International Commodity Index-Agriculture TR ETN 103,822 489,173 471.16%
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund 4,038 16,753 414.92%
MDYV SPDR S&P 400 Mid Cap Value ETF 80,658 351,534 435.83%
FHLC Fidelity MSCI Health Care Index ETF 265,035 1,193,775 450.42%
JPHF JPMorgan Diversified Alternatives ETF 30,901 121,032 391.68%
FIDU Fidelity MSCI Industrials Index ETF 214,219 958,527 447.45%
FDIS Fidelity MSCI Consumer Discretionary Index ETF 147,405 619,717 420.42%

 

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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