Daily ETF Flows: LQD Snags $253.1 Million

October 13, 2011

LQD pulled in $253 million on Wednesday, Oct. 12, as stocks moved higher on eurozone optimism.

The iShares iBoxx $ Investment Grade Corporate Bond Fund (NYSEArca: LQD) pulled in $253.1 million yesterday, as stocks rose on optimism that European policymakers are likely to pull together and definitively address the eurozone’s sovereign debt challenges.

Overall, $1.24 billion flowed into U.S.-listed ETFs, and total assets rose slightly to $1.023 trillion from $1.011 trillion on Tuesday, Oct. 11, according to data compiled by IndexUniverse. Inflows, largely into U.S. and international fixed-income funds, were behind much of the creations activity.

The Dow Jones industrial average rose 102.55 points, or 0.9 percent, to 11,518.85, as the market pinned its hopes on the emergence of a forceful policy response to the eurozone’s debt crisis.

The Nos. 2 and 3 ETFs on IndexUniverse’s “Top 10 Creations” list were the iShares MSCI Emerging Markets Index Fund (NYSEArca: EEM) and the iShares Russell 2000 Index Fund (NYSEArca: IWM), which gathered $224.9 million and $174.9 million, respectively.

That said, the fixed-income creations in the ETF market betrayed an underlying nervousness about the macroeconomy.

Among the debt funds besides LQD on IndexUniverse’s “Top 10 Creations” list, and flows into them, were:

  • iShares Barclays 20+ Year Treasury Bond Fund (NYSEArca: TLT), $171.3 million
  • iShares Barclays Aggregate Bond Fund (NYSEArca: AGG), $152.1 million
  • SPDR Barclays Capital International Treasury Bond ETF (NYSEArca: BWX), $72.7 million

 

Sizable creations on a percentage basis included the $86.5 million that went into the Direxion Daily Small Cap Bear 3x Shares (NYSEArca: TZA). Those amounted to 11 percent of the fund’s assets.

Redemptions

Yesterday’s least popular fund was the SPDR S&P 500 ETF (NYSEArca: SPY), followed by the iShares S&P 500 Index Fund (NYSEArca: IVV). SPY bled $314.1 million and IVV suffered outflows of $242.4 million.

Two sector funds from State Street Global Advisors were the Nos. 3 and 4 ETFs on IndexUniverse’s “Top 10 Redemptions” list.

The Energy Select Sector SPDR Fund (NYSEArca: XLE) suffered redemptions of $179.6 million, while the Financial Select Sector SPDR Fund (NYSEArca: XLF) lost $151.1 million to outflows.

Sizable redemptions on a percentage basis included the nearly $60 million that flowed out of the First Trust Materials AlphaDEX ETF (NYSEArca: FXZ). That amounted to 21 percent of the fund’s assets.

Top 10 Creations (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
LQD iShares iBoxx $ Investment Grade Corporate Bond 253.13 14,967.49 2%
EEM iShares MSCI Emerging Markets 224.85 29,818.49 1%
IWM iShares Russell 2000 174.90 13,998.92 1%
TLT iShares Barclays 20+ Year Treasury Bond 171.33 3,312.39 5%
QQQ PowerShares QQQ 161.33 23,075.68 1%
AGG iShares Barclays Aggregate Bond 152.05 13,499.50 1%
GDX Market Vectors Gold Miners 137.73 9,549.79 1%
TZA Direxion Daily Small Cap Bear 3x 86.52 842.32 11%
DIA SPDR Dow Jones Industrial Average Trust 74.79 9,870.98 1%
BWX SPDR Barclays Capital International Treasury Bond 72.72 1,545.30 5%

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 -314.10 85,450.46 0%
IVV iShares S&P 500 -242.42 25,327.12 -1%
XLE Energy Select SPDR -179.61 7,208.36 -2%
XLF Financial Select SPDR -151.12 4,886.81 -3%
BIL SPDR Barclays Capital 1-3 Month T-Bill -73.35 3,383.17 -2%
XLV Health Care Select SPDR -65.23 3,519.65 -2%
FXZ First Trust Materials AlphaDEX -59.91 223.66 -21%
SHY iShares Barclays 1-3 Year Treasury Bond -50.65 9,792.98 -1%
USO United States Oil -49.68 1,275.22 -4%
XLU Utilities Select SPDR -48.78 6,725.37 -1%

ETF Daily Flows By Asset Class

Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity -260.08 441,032.48 -0.06%
International Equity 576.04 250,214.53 0.23%
U.S. Fixed Income 642.27 162,488.37 0.40%
International Fixed Income 105.74 11,798.56 0.90%
Commodities -48.00 111,332.43 -0.04%
Currency 11.10 4,728.54 0.23%
Leveraged -158.57 13,151.20 -1.21%
Inverse 314.55 24,398.00 1.29%
Asset Allocation - 896.15 0.00%
Alternatives 61.60 3,229.52 1.91%
Total: 1,244.65 1,023,269.78 0.12%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1-Day Volume % of Average
FXH First Trust Health Care AlphaDEX 272,923 3,639,120 1333%
FXZ First Trust Materials AlphaDEX 418,604 4,610,582 1101%
HYS Pimco 0-5 Year High Yield Corporate Bond 12,593 98,533 782%
IEI iShares Barclays 3-7 Year Treasury Bond 327,480 2,110,579 644%
JKK iShares Morningstar Small Growth 21,430 135,839 634%
PFM PowerShares Dividend Achievers Portfolio 102,253 620,565 607%
HGI Guggenheim International Multi-Asset Income 45,066 206,283 458%
AOM iShares S&P Moderate Allocation 28,551 125,817 441%
RJN ELEMENTS Rogers International Commodity - Energy Total Return ETN 95,758 396,420 414%
ECON EGShares DJ Emerging Markets Consumer Titans 119,946 481,591 402%

Top 10 1-Day Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded

Ticker Name 1-Day Performance 1-Day Volume AUM ($, mm)
FKO First Trust South Korea AlphaDex 15.30% 1,339 1.20
OLEM iPath Pure Beta Crude Oil ETN 11.82% 1,400 4.86
AXFN iShares MSCI ACWI ex-US Financials 9.80% 1,166 2.00
CHII Global X China Industrials 8.88% 5,900 3.96
UGEM EGShares Utilities GEMS 8.44% 4,100 0.81
MEXS Global X Mexico Small Cap 6.93% 5,526 0.55
CHIM Global X China Materials 6.78% 10,003 2.58
EMER IQ Emerging Markets Mid Cap 6.55% 82,738 3.12
FCA First Trust China AlphaDex 6.43% 1,117 2.91
CHXX EGShares INDXX China Infrastructure 6.25% 3,902 12.79

Bottom 10 1-Day Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded

Ticker Name 1-Day Performance 1-Day Volume AUM ($, mm)
TSXV Global X S&P TSX Venture 30 Canada -7.68% 7,820 2.66
VXCC ETRACS 3-Month S&P 500 VIX Futures ETN -7.38% 4,600 10.53
VXBB ETRACS 2-Month S&P 500 VIX Futures ETN -6.89% 5,700 10.59
VIIX VelocityShares VIX Short Term ETN -6.79% 17,730 44.75
VIXY ProShares VIX Short-Term -6.75% 274,091 36.92
VXAA ETRACS 1-Month S&P 500 VIX Futures ETN -6.68% 4,100 10.51
VXX iPath S&P 500 VIX Short-Term Futures ETN -6.67% 25,646,197 1,047.77
VGEM EGShares Consumer Services GEMS -4.76% 2,300 0.89
VXDD ETRACS 4-Month S&P 500 VIX Futures ETN -4.41% 4,400 10.49
VIXM ProShares VIX Mid-term -4.00% 11,262 12.22

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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