Weekly ETF Inflows Streak Snapped

June 08, 2018

It was a good run, but after eight-straight weeks of inflows, ETFs registered an outflow this week. A net $3.4 billion was pulled out of U.S.-listed ETFs during the week ending Thursday, June 7, according to FactSet. That pushed year-to-date inflows down to $119.7 billion.

Despite the week’s net outflows, there were some bright spots. The Schwab U.S. TIPS ETF (SCHP) saw a stellar $1 billion worth of creations, representing a 25% increase in the fund’s assets under management (AUM). At the same time, the Schwab Intermediate-Term U.S. Treasury ETF (SCHR) picked up a cool $810 million, representing an increase of 43% in its AUM.

Hefty Outflows

The big inflows into SCHP and SCHR helped offset hefty outflows from other fixed-income ETFs, such as the iShares 1-3 Year Treasury Bond ETF (SHY) and the iShares 0-5 Year High Yield Corporate Bond ETF (SHYG), which had redemptions of a combined $2.3 billion.

U.S. fixed-income ETFs had net inflows of $1.4 billion for the week, even as the U.S. 10-year Treasury yield jumped 11 basis points week-over-week to 2.94%, and the two-year yield gained 3 basis points to 2.5% (bond prices and yields move inversely).

On the other hand, U.S. equity ETFs and international equity ETFs had a combined $2.7 billion worth of outflows during the week despite a strong rally in the stock market. The Russell 2000 hit a fresh record high, while the S&P 500 hit a three-week high during the period.

The SPDR S&P 500 ETF Trust (SPY), the Invesco QQQ Trust (QQQ) and the iShares Edge MSCI Min Vol U.S.A. ETF (USMV) were the biggest flows losers during the week.

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
SCHP Schwab U.S. TIPS ETF 1,048.71 5,247.88 24.97%
XLK Technology Select Sector SPDR Fund 812.69 22,953.94 3.67%
SCHR Schwab Intermediate-Term U.S. Treasury ETF 810.03 2,678.36 43.36%
IWM iShares Russell 2000 ETF 562.66 48,476.35 1.17%
IJR iShares Core S&P Small Cap ETF 531.66 43,135.96 1.25%
XLY Consumer Discretionary Select Sector SPDR Fund 428.94 14,091.22 3.14%
VMBS Vanguard Mortgage-Backed Securities ETF 380.74 5,830.84 6.99%
TLT iShares 20+ Year Treasury Bond ETF 358.27 6,805.42 5.56%
FLOT iShares Floating Rate Bond ETF 315.52 9,979.82 3.26%
IEI iShares 3-7 Year Treasury Bond ETF 276.67 7,408.79 3.88%

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 ETF Trust -1,992.09 266,972.33 -0.74%
QQQ Invesco QQQ Trust -1,341.04 67,140.29 -1.96%
SHY iShares 1-3 Year Treasury Bond ETF -1,207.13 12,704.85 -8.68%
SHYG iShares 0-5 Year High Yield Corporate Bond ETF -1,071.26 2,407.38 -30.80%
USMV iShares Edge MSCI Min Vol U.S.A. ETF -935.37 14,699.72 -5.98%
GLD SPDR Gold Trust -592.19 34,799.48 -1.67%
MTUM iShares Edge MSCI U.S.A. Momentum Factor ETF -552.74 9,465.52 -5.52%
QUAL iShares Edge MSCI U.S.A. Quality Factor ETF -519.81 5,271.89 -8.98%
IVV iShares Core S&P 500 ETF -452.07 154,945.27 -0.29%
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF -379.46 4,660.44 -7.53%

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity -1,832.69 2,036,438.68 -0.09%
International Equity -910.75 843,701.38 -0.11%
U.S. Fixed Income 1,428.01 542,923.28 0.26%
International Fixed Income -883.35 62,187.23 -1.42%
Commodities -737.47 68,895.83 -1.07%
Currency -11.81 1,250.40 -0.94%
Leveraged -435.52 37,062.03 -1.18%
Inverse 7.63 13,351.21 0.06%
Asset Allocation 10.20 9,396.56 0.11%
Alternatives 5.87 4,348.83 0.14%
Total: -3,359.88 3,619,555.42 -0.09%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
USHY iShares Broad USD High Yield Corporate Bond ETF 10,913 70,911 649.78%
DWX SPDR S&P International Dividend ETF 264,053 1,280,118 484.80%
RTH VanEck Vectors Retail ETF 14,166 65,069 459.34%
JPGB JPMorgan Global Bond Opportunities ETF 13,427 50,228 374.07%
HYLB Xtrackers USD High Yield Corporate Bond ETF 990,127 3,887,835 392.66%
CHIQ Global X China Consumer ETF 123,277 435,765 353.48%
EWMC Invesco S&P MidCap 400 Equal Weight ETF 4,627 14,349 310.13%
RISE Sit Rising Rate ETF 26,936 77,916 289.26%
EFG iShares MSCI EAFE Growth ETF 194,099 803,292 413.86%
BIZD VanEck Vectors BDC Income ETF 53,057 139,495 262.91%

 

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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