##  [# ETFs Gain $9.5B In Risk-Off Week ](/sections/weekly-etf-flows/etfs-gain-95b-risk-week) 

 

# ETFs Gain $9.5B In Risk-Off Week 

 

 

Russia-Ukraine tension outweighed inflation as investors bought into bond funds.



 

 

 

 

 [![DanMika200x200.jpg](/sites/default/files/styles/author_image_icon/public/2023-02/DanMika200x200.jpg?itok=W3yFiWn- "DanMika200x200.jpg")](/contributors/dan-mika) 

[By Dan Mika](/contributors/dan-mika)

 Feb 22, 2022

 Edited by: Dan Mika

 

 

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Heightening tensions between Russia and the West over Ukraine piled onto inflation and Federal Reserve rate hikes, giving investors reason to put only $9.5 billion into U.S.-listed ETFs last week versus $24 billion the week prior.

The U.S. ETF industry has now gained just over $91 billion in new assets this year, according to ETF.com data provider FactSet, and holds $6.8 trillion in assets under management.

**Heading Into Bond Safe Havens**

Although the [**iShares Russell 2000 ETF (IWM)**](https://etf.com/iwm) and the [**Invesco QQQ Trust (QQQ)**](https://etf.com/qqq) led inflows on the week, with a respective $1.6 billion and $1.5 billion, most of the largest-inflow ETFs on the week were in U.S. fixed income. That asset class added a net $2.95 billion in the period compared to net outflows of $3.94 billion last week.

The [**Vanguard Intermediate-Term Corporate Bond (VCIT)**](https://etf.com/vcit) led fixed income funds, with $1.1 billion on the week, followed by the [**Vanguard International Bond ETF (BNDX)**](https://etf.com/bndx) and the [**Vanguard Short-Term Treasury Index ETF (VGSH)**](https://etf.com/vgsh) at $751 million and just under $700 million, respectively.

The [**iShares 20+ Year Treasury Bond ETF (TLT)**](https://etf.com/tlt) and the [**SPDR Bloomberg High Yield Bond ETF (JNK)**](https://etf.com/jnk) also appeared in the top 10 list, with $548 million and $536 million, respectively, suggesting demand for fixed income safety ranging from Treasuries to riskier corporate bonds.

One notable inflow on the week was a $624 million inflow for the [**iShares Paris-Aligned Climate MSCI USA ETF (PABU)**](https://etf.com/pabu), the latest ESG fund from BlackRock, which debuted on Feb. 8. All of those assets came last Thursday, but it’s not clear if the inflow is the first leg of a heartbeat trade or an allocation from BlackRock itself. The firm declined to comment.

**Broad Selloffs** **In Equities**

The U.S. equities asset class generally dominates inflows but only managed to add a meager $2.6 billion last week.

Notably, international equities saw a $3.7 billion outflow from the [**iShares MSCI Kokusai ETF (TOK)**](https://etf.com/tok). The ex-Japan international equity fund barely registers flows on a daily basis but had a massive $3.7 billion inflow in January that was later withdrawn in two tranches in what appears to be a wash trade last week.

![](/sites/default/files/images/weekly_flows_2.22.2022.png)

The far more liquid [**SPDR S&amp;P 500 ETF Trust (SPY)**](https://etf.com/spy) saw the second-largest outflows, with $2.3 billion pulled, marking more than $25 billion in withdrawals year-to-date.

Losses were scattered across strategies for other equity ETFs on the week. The [**Vanguard Mid-Cap ETF (VO)**](https://etf.com/vo) and the [**Vanguard Mid-Cap Growth ETF (VOT)**](https://etf.com/vot) lost $991 million and $357 million, respectively, while the sector-specific [**Financial Select Sector SPDR Fund (XLF)**](https://etf.com/xlf) and the [**Vanguard Information Technology ETF (VGT)**](https://etf.com/vgt) lost $986 million and $720 million, respectively.

Three fixed income ETFs also dotted the lower end of the biggest outflows list, with the [**iShares JP Morgan USD Emerging Markets Bond ETF (EMB)**](https://etf.com/emb) losing $503 million due to its 3.3% weighting to Russian debt.

The [**Vanguard Intermediate-Term Treasury Index ETF (VGIT)**](https://etf.com/vgit) and the [**SPDR Bloomberg 1-3 Month T-Bill ETF (BIL)**](https://etf.com/bil) lost $386 million and $365 million, respectively.

*For a full list of last week’s top inflows and outflows, see the tables below:*

Top 10 Creations (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change[IWM](https://www.etf.com/IWM)[iShares Russell 2000 ETF](https://www.etf.com/IWM)1,689.1060,384.672.80%[QQQ](https://www.etf.com/QQQ)[Invesco QQQ Trust](https://www.etf.com/QQQ)1,507.91181,973.990.83%[VCIT](https://www.etf.com/VCIT)[Vanguard Intermediate-Term Corporate Bond ETF](https://www.etf.com/VCIT)1,081.6646,426.022.33%[BNDX](https://www.etf.com/BNDX)[Vanguard Total International Bond ETF](https://www.etf.com/BNDX)751.3046,402.991.62%[VGSH](https://www.etf.com/VGSH)[Vanguard Short-Term Treasury Index ETF](https://www.etf.com/VGSH)699.3913,649.485.12%[IEF](https://www.etf.com/IEF)[iShares 7-10 Year Treasury Bond ETF](https://www.etf.com/IEF)641.2416,655.303.85%[PABU](https://www.etf.com/PABU)[iShares Paris-Aligned Climate MSCI USA ETF](https://www.etf.com/PABU)624.07613.23101.77%[TLT](https://www.etf.com/TLT)[iShares 20+ Year Treasury Bond ETF](https://www.etf.com/TLT)548.0615,359.273.57%[JNK](https://www.etf.com/JNK)[SPDR Bloomberg High Yield Bond ETF](https://www.etf.com/JNK)536.317,674.676.99%[VWO](https://www.etf.com/VWO)[Vanguard FTSE Emerging Markets ETF](https://www.etf.com/VWO)498.6783,381.580.60%Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change[TOK](https://www.etf.com/TOK)[iShares MSCI Kokusai ETF](https://www.etf.com/TOK)-3,755.88184.69-2,033.64%[SPY](https://www.etf.com/SPY)[SPDR S&amp;P 500 ETF Trust](https://www.etf.com/SPY)-2,324.26394,409.41-0.59%[VO](https://www.etf.com/VO)[Vanguard Mid-Cap ETF](https://www.etf.com/VO)-991.1153,607.89-1.85%[XLF](https://www.etf.com/XLF)[Financial Select Sector SPDR Fund](https://www.etf.com/XLF)-985.8548,285.07-2.04%[VGT](https://www.etf.com/VGT)[Vanguard Information Technology ETF](https://www.etf.com/VGT)-719.9048,270.02-1.49%[ESGU](https://www.etf.com/ESGU)[iShares ESG Aware MSCI USA ETF](https://www.etf.com/ESGU)-547.5823,630.17-2.32%[EMB](https://www.etf.com/EMB)[iShares JP Morgan USD Emerging Markets Bond ETF](https://www.etf.com/EMB)-503.5817,053.62-2.95%[VGIT](https://www.etf.com/VGIT)[Vanguard Intermediate-Term Treasury Index ETF](https://www.etf.com/VGIT)-386.208,693.18-4.44%[BIL](https://www.etf.com/BIL)[SPDR Bloomberg 1-3 Month T-Bill ETF](https://www.etf.com/BIL)-365.6414,195.97-2.58%[VOT](https://www.etf.com/VOT)[Vanguard Mid-Cap Growth ETF](https://www.etf.com/VOT)-357.3810,798.80-3.31%ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM**U.S. Equity**2,619.834,082,959.250.06%**International Equity**557.981,295,175.820.04%**U.S. Fixed Income**2,953.141,064,823.200.28%**International Fixed Income**1,228.97160,039.460.77%**Commodities**1,349.80151,739.880.89%**Currency**21.613,199.560.68%**Leveraged**286.0562,468.790.46%**Inverse**399.0115,086.942.64%**Asset Allocation**21.4919,878.200.11%**Alternatives**108.817,246.171.50%**Total:****9,546.70****6,862,617.27****0.14%**Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM**U.S. Equity**45,212.754,082,959.251.11%**International Equity**31,776.631,295,175.822.45%**U.S. Fixed Income**-8,149.341,064,823.20-0.77%**International Fixed Income**5,159.10160,039.463.22%**Commodities**7,754.71151,739.885.11%**Currency**163.793,199.565.12%**Leveraged**5,324.1562,468.798.52%**Inverse**2,973.3815,086.9419.71%**Asset Allocation**515.8419,878.202.60%**Alternatives**320.187,246.174.42%**Total:****91,051.19****6,862,617.27****1.33%**Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and &lt;1,000 Shares Traded

TickerNameWeekly PerformanceWeekly VolumeAUM ($, mm)[WINN](https://www.etf.com/WINN)[Harbor Long-Term Growers ETF](https://www.etf.com/WINN)92.80%58,9387.33[UNG](https://www.etf.com/UNG)[United States Natural Gas Fund LP](https://www.etf.com/UNG)7.70%30,835,455302.42[GAZ](https://www.etf.com/GAZ)[iPath Series B Bloomberg Natural Gas Subindex Total Return ETN](https://www.etf.com/GAZ)6.86%96,71510.19[PLTM](https://www.etf.com/PLTM)[GraniteShares Platinum Trust](https://www.etf.com/PLTM)6.55%173,41545.46[KURE](https://www.etf.com/KURE)[KraneShares MSCI All China Health Care Index ETF](https://www.etf.com/KURE)6.40%309,036130.31[CHNA](https://www.etf.com/CHNA)[Loncar China BioPharma ETF](https://www.etf.com/CHNA)6.28%2,2636.83[PGM](https://www.etf.com/PGM)[iPath Series B Bloomberg Platinum Subindex Total Return ETN](https://www.etf.com/PGM)6.21%30,6037.23[UNL](https://www.etf.com/UNL)[United States 12 Month Natural Gas Fund LP](https://www.etf.com/UNL)6.01%297,53324.49[PPLT](https://www.etf.com/PPLT)[Aberdeen Standard Physical Platinum Shares ETF](https://www.etf.com/PPLT)5.75%518,2251,238.89[KEJI](https://www.etf.com/KEJI)[Global X China Innovation ETF](https://www.etf.com/KEJI)5.66%1,3193.28Top 10 YTD Performers

TickerNameYTD PerformanceWeekly PerformanceAUM ($, mm)[OIH](https://www.etf.com/OIH)[VanEck Oil Services ETF](https://www.etf.com/OIH)32.89%2.62%2,813.45[SARK](https://www.etf.com/SARK)[Tuttle Capital Short Innovation ETF](https://www.etf.com/SARK)30.16%3.96%318.55[IEZ](https://www.etf.com/IEZ)[iShares U.S. Oil Equipment &amp; Services ETF](https://www.etf.com/IEZ)29.64%2.83%184.74[XES](https://www.etf.com/XES)[SPDR S&amp;P Oil &amp; Gas Equipment &amp; Services ETF](https://www.etf.com/XES)27.43%2.24%230.67[SOGU](https://www.etf.com/SOGU)[The Short De-SPAC ETF](https://www.etf.com/SOGU)26.05%1.00%33.57[PXJ](https://www.etf.com/PXJ)[Invesco Dynamic Oil &amp; Gas Services ETF](https://www.etf.com/PXJ)25.79%2.56%26.81[UNG](https://www.etf.com/UNG)[United States Natural Gas Fund LP](https://www.etf.com/UNG)25.46%7.70%302.42[PALL](https://www.etf.com/PALL)[Aberdeen Standard Physical Palladium Shares ETF](https://www.etf.com/PALL)25.20%-0.28%402.46[GAZ](https://www.etf.com/GAZ)[iPath Series B Bloomberg Natural Gas Subindex Total Return ETN](https://www.etf.com/GAZ)24.08%6.86%10.19[VXX](https://www.etf.com/VXX)[iPath Series B S&amp;P 500 VIX Short Term Futures ETN](https://www.etf.com/VXX)23.91%-1.50%1,048.85Disclaimer: 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.





 

 

 [ Dan Mika ](/contributors/dan-mika) 

 

 

  Dan Mika is a reporter for etf.com. He has previously covered business for the Ames Tribune and Cedar Rapids Gazette in Iowa, and BizWest Media in…   [View Bio](/contributors/dan-mika)

 



 

 


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