## [# ETFs Lose $11B In Short Week ](/sections/weekly-etf-flows/etfs-lose-11b-short-week) # ETFs Lose $11B In Short Week The three largest S&P 500 ETFs lost more than $14 billion combined. [![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) Apr 18, 2022 Edited by: Dan Mika Share Email LinkedIn Facebook X (Twitter) googletag.cmd.push(function() { googletag.display('js-dfp-tag-article_page_302x26'); }); Loading The U.S. ETF industry posted its second straight week of net outflows in the Good Friday-shortened trading week ending April 14, driven primarily by deep outflows in the three largest S&P 500-tracking funds. It is the first time the industry has posted two straight weeks of net outflows since late March 2020. U.S.-listed funds posted net outflows of $11.2 billion, according to ETF.com data provider FactSet. The industry now has net inflows of $187.6 billion year-to-date and held $6.9 trillion in assets under management as of last Thursday. **S&P Rout** The S&P 500 index lost 1.8% last week amid another red-hot inflation reading, giving more reason for the Fed to issue a 50 basis point hike to its prime rate in two weeks’ time and raising fears in the market over potentially hiking into a recession. U.S. equities as an asset class lost $17.5 billion, led by the [**SPDR S&P 500 ETF Trust (SPY)**](https://etf.com/spy) shedding $5.8 billion and the [**iShares Core S&P 500 ETF (IVV)**](https://etf.com/ivv) losing $5.6 billion. The [**Vanguard S&P 500 ETF (VOO)**](https://etf.com/voo) far less losses than its counterparts, with a $2.56 billion outflow. The tech-heavy [**Invesco QQQ Trust (QQQ)**](https://etf.com/qqq) struggled alongside the S&P 500, seeing $2.5 billion of outflows. Investor dollars allocated to broad equities rotated instead to the [**iShares MSCI USA Min Vol Factor ETF (USMV)**](https://etf.com/usmv) and the [**iShares Core High Dividend ETF (HDV)**](https://etf.com/hdv), adding a combined $1.1 billion. **Mixed Credit Outlook** Corporate bonds were a hotbed of action, with the [**iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD)**](https://etf.com/lqd) adding $975.8 million to lead inflows among all ETFs. BlackRock’s sister fund for junk bonds went in the opposite direction, as the [**iShares iBoxx USD High Yield Corporate Bond ETF (HYG)**](https://etf.com/hyg) lost $1.2 billion in the period. The [**SPDR Bloomberg 1-3 Month T-Bill ETF (BIL)**](https://www.etf.com/BIL) added nearly $750 million in the week to round out fixed income gainers as some investors sought the safety of near-maturity bonds, while the [**JPMorgan Inflation Managed Bond ETF (JCPI)**](https://etf.com/jcpi) lost just under $641 million. **Semiconductor Bets Ramp Up** Investors snapped up exposure to the semiconductor industry last week, betting that the downtrodden stocks would recover during the earnings season. The [**VanEck Semiconductor ETF (SMH)**](https://etf.com/smh) added $883 million in the period, while the triple-leveraged [**Direxion Daily Semiconductor Bull 3X Shares (SOXL)**](https://etf.com/soxl) added $557.8 million as part of its nearly [$1 billion](https://www.etf.com/sections/features-and-news/investors-pour-1b-triple-leveraged-semiconductor-etf) in net inflows in the past several days. *For a full list of last week’s top inflows and outflows, see the tables below:* Top 10 Creations (All ETFs) TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change[LQD](https://www.etf.com/LQD)[iShares iBoxx USD Investment Grade Corporate Bond ETF](https://www.etf.com/LQD)975.8132,431.673.01%[SMH](https://www.etf.com/SMH)[VanEck Semiconductor ETF](https://www.etf.com/SMH)883.238,626.9210.24%[BIL](https://www.etf.com/BIL)[SPDR Bloomberg 1-3 Month T-Bill ETF](https://www.etf.com/BIL)749.5914,566.405.15%[VGT](https://www.etf.com/VGT)[Vanguard Information Technology ETF](https://www.etf.com/VGT)687.1848,669.521.41%[SOXL](https://www.etf.com/SOXL)[Direxion Daily Semiconductor Bull 3X Shares](https://www.etf.com/SOXL)577.865,647.0810.23%[USMV](https://www.etf.com/USMV)[iShares MSCI USA Min Vol Factor ETF](https://www.etf.com/USMV)576.4129,025.961.99%[HDV](https://www.etf.com/HDV)[iShares Core High Dividend ETF](https://www.etf.com/HDV)568.889,718.205.85%[GLD](https://www.etf.com/GLD)[SPDR Gold Trust](https://www.etf.com/GLD)563.8969,867.770.81%[XLE](https://www.etf.com/XLE)[Energy Select Sector SPDR Fund](https://www.etf.com/XLE)539.7638,527.351.40%[XLV](https://www.etf.com/XLV)[Health Care Select Sector SPDR Fund](https://www.etf.com/XLV)532.4238,928.061.37%Top 10 Redemptions (All ETFs) TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change[SPY](https://www.etf.com/SPY)[SPDR S&P 500 ETF Trust](https://www.etf.com/SPY)-5,864.08399,570.67-1.47%[IVV](https://www.etf.com/IVV)[iShares Core S&P 500 ETF](https://www.etf.com/IVV)-5,649.81322,569.34-1.75%[VOO](https://www.etf.com/VOO)[Vanguard 500 Index Fund](https://www.etf.com/VOO)-2,558.01284,340.26-0.90%[QQQ](https://www.etf.com/QQQ)[Invesco QQQ Trust](https://www.etf.com/QQQ)-2,539.60185,948.87-1.37%[IWM](https://www.etf.com/IWM)[iShares Russell 2000 ETF](https://www.etf.com/IWM)-1,415.9558,931.68-2.40%[HYG](https://www.etf.com/HYG)[iShares iBoxx USD High Yield Corporate Bond ETF](https://www.etf.com/HYG)-1,256.3213,253.74-9.48%[FDN](https://www.etf.com/FDN)[First Trust Dow Jones Internet Index Fund](https://www.etf.com/FDN)-737.316,003.15-12.28%[JCPI](https://www.etf.com/JCPI)[JPMorgan Inflation Managed Bond ETF - United States](https://www.etf.com/JCPI)-640.781,123.54-57.03%[MDYV](https://www.etf.com/MDYV)[SPDR S&P 400 Mid Cap Value ETF](https://www.etf.com/MDYV)-579.821,626.78-35.64%[IWF](https://www.etf.com/IWF)[iShares Russell 1000 Growth ETF](https://www.etf.com/IWF)-574.7967,865.06-0.85%ETF Weekly Flows By Asset Class Net Flows ($, mm)AUM ($, mm)% of AUM**U.S. Equity**-17,545.474,179,305.87-0.42%**International Equity**3,130.641,260,931.140.25%**U.S. Fixed Income**1,037.421,048,250.640.10%**International Fixed Income**-3.50156,410.500.00%**Commodities**1,419.26176,041.090.81%**Currency**-17.513,615.81-0.48%**Leveraged**937.7263,684.291.47%**Inverse**-234.6117,456.57-1.34%**Asset Allocation**-46.6418,947.67-0.25%**Alternatives**66.717,438.490.90%**Total:****-11,255.97****6,932,082.07****-0.16%**Asset Classes (Year-to-Date) Net Flows ($, mm)AUM ($, mm)% of AUM**U.S. Equity**79,094.094,179,305.871.89%**International Equity**53,934.461,260,931.144.28%**U.S. Fixed Income**11,028.601,048,250.641.05%**International Fixed Income**8,094.33156,410.505.18%**Commodities**20,590.85176,041.0911.70%**Currency**611.863,615.8116.92%**Leveraged**9,056.6763,684.2914.22%**Inverse**4,163.8517,456.5723.85%**Asset Allocation**699.5018,947.673.69%**Alternatives**348.107,438.494.68%**Total:****187,622.31****6,932,082.07****2.71%**Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded TickerNameWeekly PerformanceWeekly VolumeAUM ($, mm)[GAZ](https://www.etf.com/GAZ)[iPath Series B Bloomberg Natural Gas Subindex Total Return ETN](https://www.etf.com/GAZ)12.01%257,87830.58[UNG](https://www.etf.com/UNG)[United States Natural Gas Fund LP](https://www.etf.com/UNG)11.45%40,105,793434.19[UNL](https://www.etf.com/UNL)[United States 12 Month Natural Gas Fund LP](https://www.etf.com/UNL)11.12%529,49033.33[JJE](https://www.etf.com/JJE)[iPath Series B Bloomberg Energy Subindex Total Return ETN](https://www.etf.com/JJE)8.55%1,0487.20[BAL](https://www.etf.com/BAL)[iPath Series B Bloomberg Cotton Subindex Total Return ETN](https://www.etf.com/BAL)8.17%25,20440.33[JETS](https://www.etf.com/JETS)[U.S. Global Jets ETF](https://www.etf.com/JETS)7.50%24,201,3313,389.53[WCBR](https://www.etf.com/WCBR)[WisdomTree Cybersecurity Fund](https://www.etf.com/WCBR)7.44%42,41050.94[PAK](https://www.etf.com/PAK)[Global X MSCI Pakistan ETF](https://www.etf.com/PAK)6.99%44,89120.39[RJN](https://www.etf.com/RJN)[Elements Rogers International Commodity Index-Energy TR ETN](https://www.etf.com/RJN)6.96%197,09713.19[DBE](https://www.etf.com/DBE)[Invesco DB Energy Fund](https://www.etf.com/DBE)6.38%534,076249.03Top 10 YTD Performers TickerNameYTD PerformanceWeekly PerformanceAUM ($, mm)[UNG](https://www.etf.com/UNG)[United States Natural Gas Fund LP](https://www.etf.com/UNG)97.12%11.45%434.19[GAZ](https://www.etf.com/GAZ)[iPath Series B Bloomberg Natural Gas Subindex Total Return ETN](https://www.etf.com/GAZ)96.83%12.01%30.58[UNL](https://www.etf.com/UNL)[United States 12 Month Natural Gas Fund LP](https://www.etf.com/UNL)91.88%11.12%33.33[JJE](https://www.etf.com/JJE)[iPath Series B Bloomberg Energy Subindex Total Return ETN](https://www.etf.com/JJE)63.80%8.55%7.20[OIH](https://www.etf.com/OIH)[VanEck Oil Services ETF](https://www.etf.com/OIH)61.05%1.89%4,122.78[XES](https://www.etf.com/XES)[SPDR S&P Oil & Gas Equipment & Services ETF](https://www.etf.com/XES)60.21%2.31%369.20[JJN](https://www.etf.com/JJN)[iPath Series B Bloomberg Nickel Subindex Total Return ETN](https://www.etf.com/JJN)58.90%-3.51%62.67[IEZ](https://www.etf.com/IEZ)[iShares U.S. Oil Equipment & Services ETF](https://www.etf.com/IEZ)57.39%1.55%373.57[RJN](https://www.etf.com/RJN)[Elements Rogers International Commodity Index-Energy TR ETN](https://www.etf.com/RJN)57.20%6.96%13.19[PSCE](https://www.etf.com/PSCE)[Invesco S&P SmallCap Energy ETF](https://www.etf.com/PSCE)55.41%3.93%178.41Disclaimer: 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) Related Topics [Equity](http://www.etf.com/topics/equity) [Fixed Income](http://www.etf.com/topics/fixed-income) [Semiconductors](http://www.etf.com/topics/semiconductors) [Blackrock](http://www.etf.com/topics/blackrock)