ETF Outflows Continue In First Week Of April

April 06, 2018

After registering outflows for two-consecutive months—February and March—ETFs still couldn’t catch a break during the first week of April, as familiar fears about a U.S.-China trade war weighed on sentiment. Investors pulled just over $3 billion out of U.S.-listed ETFs during the five-day period ending April 5, according to FactSet. Year-to-date inflows fell to $57.8 billion.

Once again, U.S. equity ETFs were at the heart of the outflows. Investors pulled $9.7 billion out of the segment, including $6.7 billion from the SPDR S&P 500 ETF Trust (SPY) and $1.1 billion out of the Consumer Staples Select Sector SPDR Fund (XLP).

Meanwhile, just as in February and March, investors bought up international equity and U.S. fixed-income ETFs amid hopes they’d fare better with U.S. protectionist policies front and center.

U.S. fixed-income ETFs saw $4.9 billion worth of inflows. The iShares Short Treasury Bond ETF (SHV), the iShares 20+ Year Treasury Bond ETF (TLT) and the iShares iBoxx $ High Yield Corporate Bond ETF (HYG) were the biggest winners in that space.

The U.S. 10-year bond yield dipped as low as 2.72% on Monday before rebounding to 2.78% as of this writing, still well below the 2.94% high set in February.

In the international equity segment, the iShares Core MSCI Emerging Markets ETF (IEMG) continued to rake in assets, with a weekly inflow of $483 million. Year-to-date, IEMG has inflows of $6.6 billion.

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
SHV iShares Short Treasury Bond ETF 937.30 12,247.84 8.29%
TLT iShares 20+ Year Treasury Bond ETF 849.82 7,062.91 13.68%
HYG iShares iBoxx $ High Yield Corporate Bond ETF 611.10 14,662.94 4.35%
XLI Industrial Select Sector SPDR Fund 533.97 13,260.27 4.20%
XLF Financial Select Sector SPDR Fund 503.98 32,489.74 1.58%
IEMG iShares Core MSCI Emerging Markets ETF 483.48 49,208.80 0.99%
SHY iShares 1-3 Year Treasury Bond ETF 442.28 11,952.52 3.84%
BIL SPDR Bloomberg Barclays 1-3 Month T-Bill ETF 416.29 3,478.78 13.59%
IVV iShares Core S&P 500 ETF 380.29 140,873.48 0.27%
FLOT iShares Floating Rate Bond ETF 355.77 8,224.20 4.52%

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 ETF Trust -6,706.71 248,575.12 -2.63%
XLP Consumer Staples Select Sector SPDR Fund -1,127.19 7,809.68 -12.61%
IWM iShares Russell 2000 ETF -1,004.66 41,192.99 -2.38%
DIA SPDR Dow Jones Industrial Average ETF Trust -455.52 20,715.43 -2.15%
HEFA iShares Currency Hedged MSCI EAFE ETF -415.73 3,665.58 -10.19%
KRE SPDR S&P Regional Banking ETF -239.95 5,048.26 -4.54%
IYR iShares U.S. Real Estate ETF -238.34 3,507.50 -6.36%
XLV Health Care Select Sector SPDR Fund -224.88 15,208.70 -1.46%
EZU iShares MSCI Eurozone ETF -215.39 13,865.32 -1.53%
VB Vanguard Small-Cap ETF -209.95 21,635.53 -0.96%

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity -9,734.50 1,885,472.78 -0.52%
International Equity 155.29 829,807.90 0.02%
U.S. Fixed Income 4,916.16 527,749.38 0.93%
International Fixed Income 457.89 63,833.97 0.72%
Commodities  825.00 70,760.01 1.17%
Currency 12.54 1,391.15 0.90%
Leveraged 540.32 35,554.58 1.52%
Inverse -175.51 13,394.98 -1.31%
Asset Allocation -23.10 8,823.49 -0.26%
Alternatives -22.95 4,337.37 -0.53%
Total: -3,048.85 3,441,125.62 -0.09%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
CLTL PowerShares Treasury Collateral Portfolio 1,012 6,249 617.31%
UCI ETRACS UBS Bloomberg Constant Maturity Commodity Index TR ETN 17,531 81,210 463.24%
QQXT First Trust NASDAQ-100 Ex-Technology Sector Index Fund 8,368 36,468 435.80%
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 44,939 222,075 494.17%
PEZ PowerShares DWA Consumer Cyclicals Momentum Portfolio 3,484 13,777 395.50%
PXI PowerShares DWA Energy Momentum Portfolio 13,194 49,778 377.28%
COMT iShares Commodities Select Strategy ETF 91,296 405,373 444.02%
FNY First Trust Mid Cap Growth AlphaDEX Fund 30,904 155,135 501.99%
EXT WisdomTree U.S. Total Earnings Fund 5,582 19,960 357.56%
FNI First Trust Chindia ETF 29,475 102,096 346.38%

 

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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