ETF Inflows Pick Up Steam, Now $90B

May 04, 2018

Investors followed up on a strong month of ETF inflows in April by putting more money to work during the first week of May. Altogether, they added $3.5 billion to U.S.-listed ETFs during the week ending Thursday, May 3, according to FactSet. Year-to-date inflows now stand at $90.4 billion.

Just as in April, U.S. fixed-income ETFs continued to pick up new money in the first part of May, with inflows of $1.7 billion. They were only slightly edged out by U.S. equity ETFs, which picked up $1.9 billion.

Staying true to how it’s performed all year long, the U.S. stock market had another roller-coaster week. The S&P 500 briefly fell below 2,600 on Thursday before surging nearly 3% from its lows by Friday to last trade around 2,670.

Trade Concerns

Corporate earnings continued to come out strong during the period, but trade concerns lingered after a U.S. delegation to China that included Treasury Secretary Steven Mnuchin failed to reach a deal with its Chinese counterpart to avert a trade war. However, they promised that talks would continue in the coming weeks.

Meanwhile, a Friday jobs report was met by ambivalence. The report, which showed U.S. unemployment dropped to an 18-year low of 3.9% in April, suggested the economy continues to fire on all cylinders. But it also raised the worry that the Fed may have to hike a total of four times this year to stem growing inflation pressures.

The U.S. 10-year Treasury yield was essentially flat week-over-week, last trading around 2.95%.

Individual ETF Flows

No big surprises here: The SPDR S&P 500 ETF Trust (SPY), the iShares iBoxx USD High Yield Corporate Bond ETF (HYG) and the Utilities Select Sector SPDR Fund (XLU) took the top three spots on the inflows list.

On the flip side, the iShares MSCI Emerging Markets ETF (EEM), the iShares Core S&P 500 ETF (IVV) and the Financial Select Sector SPDR Fund (XLF) topped the weekly 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 2,243.10 253,286.79 0.89%
HYG iShares iBoxx USD High Yield Corporate Bond ETF 743.57 15,167.84 5.16%
XLU Utilities Select Sector SPDR Fund 545.77 7,427.25 7.93%
VEA Vanguard FTSE Developed Markets ETF 359.27 71,693.20 0.50%
JNK SPDR Bloomberg Barclays High Yield Bond ETF 323.27 9,328.62 3.59%
SHY iShares 1-3 Year Treasury Bond ETF 274.44 12,598.54 2.23%
BSV Vanguard Short-Term Bond ETF 249.45 24,202.87 1.04%
IVE iShares S&P 500 Value ETF 169.56 15,461.83 1.11%
XLK Technology Select Sector SPDR Fund 157.64 20,012.63 0.79%
VTI Vanguard Total Stock Market ETF 152.27 93,040.81 0.16%

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
EEM iShares MSCI Emerging Markets ETF -869.91 40,817.54 -2.09%
IVV iShares Core S&P 500 ETF -673.70 141,229.65 -0.47%
XLF Financial Select Sector SPDR Fund -525.79 31,546.48 -1.64%
DIA SPDR Dow Jones Industrial Average ETF Trust -457.19 20,309.98 -2.20%
AGG iShares Core U.S. Aggregate Bond ETF -401.41 55,178.76 -0.72%
XLI Industrial Select Sector SPDR Fund -309.14 12,037.89 -2.50%
TLT iShares 20+ Year Treasury Bond ETF -284.67 7,440.34 -3.69%
GLD SPDR Gold Trust -236.16 36,282.47 -0.65%
TIP iShares TIPS Bond ETF -213.33 24,351.84 -0.87%
IEF iShares 7-10 Year Treasury Bond ETF -202.95 8,599.81 -2.31%

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 1,925.85 1,897,519.78 0.10%
International Equity -229.69 843,364.83 -0.03%
U.S. Fixed Income 1,746.39 534,889.31 0.33%
International Fixed Income 146.91 63,494.94 0.23%
Commodities  -33.86 70,257.86 -0.05%
Currency -14.04 1,403.79 -1.00%
Leveraged -45.00 34,865.35 -0.13%
Inverse -92.18 13,594.41 -0.68%
Asset Allocation -29.45 9,092.73 -0.32%
Alternatives 94.60 4,253.91 2.22%
Total: 3,469.54 3,471,488.92 0.10%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
EDOG ALPS Emerging Sector Dividend Dogs ETF 16,913 85,565 505.90%
USEQ PowerShares Russell 1000 Enhanced Equal Weight Portfolio 13,029 49,750 381.83%
IHF iShares U.S. Healthcare Providers ETF 30,546 99,673 326.31%
USDU WisdomTree Bloomberg U.S. Dollar Bullish Fund 13,696 35,733 260.91%
PXF PowerShares FTSE RAFI Developed Markets ex-US Portfolio 153,651 361,512 235.28%
AGT iShares MSCI Argentina and Global Exposure ETF 31,124 62,814 201.82%
DIV Global X SuperDividend US ETF 71,620 139,146 194.28%
USLB PowerShares Russell 1000 Low Beta Equal Weight Portfolio 3,578 6,890 192.54%
EIS iShares MSCI Israel ETF 9,735 18,011 185.02%
EEMS iShares MSCI Emerging Markets Small Cap ETF 32,478 58,854 181.21%

 

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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