ETF Inflows Rebound, Now $71B For Year

April 13, 2018

A relatively stable week for the stock market gave investors the confidence to tiptoe back into U.S.-listed ETFs. A total of $13.2 billion entered the space in the week ending Thursday, April 12, according to the latest data from FactSet. Year-to-date inflows now stand at $71.2 billion.

Of this week’s inflows, $6.9 billion went into U.S. equity ETFs, as the S&P 500 crept toward the top end of its trading range around 2,660, up from less than 2,600 at its lows.

At the same time, international equity ETFs and U.S. fixed-income ETFs—areas that have been steadily taking in cash all year long—continued to be popular with investors. The former had inflows of just over $1 billion, while the latter had inflows of more than $4 billion.

The U.S. 10-year bond yield rose to 2.83%, up from 2.78% a week ago.

EM Rotation Trade

The usual suspects made up most of the top inflows list. The SPDR S&P 500 ETF Trust (SPY) took the No. 1 spot, followed by the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) and the iShares Russell 2000 ETF (IWM).

The safe-haven SPDR Gold Trust (GLD) also found itself on the top 10. Gold prices are up 3.2% year-to-date.

Perhaps the most interesting name on the list is the PowerShares S&P Emerging Markets Low Volatility Portfolio (EELV), with creations of $424 million.

A nearly equivalent amount of money—$429 million—flowed out of the PowerShares S&P Emerging Markets Momentum Portfolio (EEMO), suggesting that a large investor made a rotation trade from one emerging markets ETF to the other.

The iShares JP Morgan USD Emerging Markets Bond ETF (EMB) and the Technology Select Sector SPDR Fund (XLK) were two other noteworthy names on the outflows list.

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 4,265.80 252,737.70 1.72%
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF 817.60 33,095.55 2.53%
IWM iShares Russell 2000 ETF 677.10 42,289.03 1.63%
SHV iShares Short Treasury Bond ETF 628.49 12,879.42 5.13%
HYG iShares iBoxx $ High Yield Corporate Bond ETF 520.36 15,323.03 3.52%
GLD SPDR Gold Trust 507.90 37,599.30 1.37%
VTI Vanguard Total Stock Market ETF 438.52 93,127.58 0.47%
DIA SPDR Dow Jones Industrial Average ETF Trust 424.25 21,082.86 2.05%
EELV PowerShares S&P Emerging Markets Low Volatility Portfolio 423.84 707.47 149.44%
IEMG iShares Core MSCI Emerging Markets ETF 413.59 50,494.92 0.83%

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
EFA iShares MSCI EAFE ETF -632.74 78,318.29 -0.80%
IVV iShares Core S&P 500 ETF -552.93 140,269.62 -0.39%
EEMO PowerShares S&P Emerging Markets Momentum Portfolio -428.95 33.12 -92.83%
EZU iShares MSCI Eurozone ETF -333.95 13,965.66 -2.34%
XLI Industrial Select Sector SPDR Fund -312.60 12,769.31 -2.39%
BSV Vanguard Short-Term Bond ETF -289.84 24,082.70 -1.19%
VCIT Vanguard Intermediate-Term Corporate Bond ETF -245.10 18,301.03 -1.32%
EMB iShares JP Morgan USD Emerging Markets Bond ETF -224.85 11,848.35 -1.86%
XLK Technology Select Sector SPDR Fund -189.62 20,141.28 -0.93%
SJNK SPDR Bloomberg Barclays Short Term High Yield Bond ETF -188.59 3,789.04 -4.74%

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 6,852.14 1,895,079.39 0.36%
International Equity 1,005.14 846,414.43 0.12%
U.S. Fixed Income 4,035.44 533,128.01 0.76%
International Fixed Income 354.60 64,055.56 0.55%
Commodities  750.10 71,508.70 1.05%
Currency 49.20 1,428.08 3.44%
Leveraged -171.32 36,007.97 -0.48%
Inverse 141.65 13,330.57 1.06%
Asset Allocation 254.74 9,135.02 2.79%
Alternatives -109.97 4,247.02 -2.59%
Total: 13,161.72 3,474,334.74 0.38%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
HYLV IQ S&P High Yield Low Volatility Bond ETF 15,396 73,233 475.65%
CLRG IQ Chaikin U.S. Large Cap ETF 78,704 267,192 339.49%
ULVM USAA MSCI USA Value Momentum Blend Index ETF 34,786 125,002 359.35%
TFLO iShares Treasury Floating Rate Bond ETF 32,738 123,496 377.23%
PZT PowerShares New York AMT-Free Municipal Bond Portfolio 8,918 21,063 236.18%
CSML IQ Chaikin U.S. Small Cap ETF 94,357 239,743 254.08%
FAN First Trust Global Wind Energy ETF 43,773 96,468 220.38%
JPMB JPMorgan USD Emerging Markets Sovereign Bond ETF 270 452 167.09%
FRN PowerShares Frontier Markets Portfolio 80,953 160,242 197.94%
HFXI IQ 50 Percent Hedged FTSE International ETF 81,193 141,303 174.03%

 

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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