Daily ETF Flows: 'Q’s' Lose $750 Million

October 03, 2011

The 'Q’s' lost $750 million on Friday, Sept. 30, as stocks again crumbled on economic worries.

Investors yanked $750.3 million out of the PowerShares QQQ Trust (NasdaqGM: QQQ), the leading edge of net redemptions that were accompanied by another sharp pullback in the stock market.

Overall, net outflows totaled $614.7 million, with U.S. equities the main reason for the redemptions. Total assets fell to $973.49 billion, from $990.24 billion on Thursday, Sept. 29, according to data compiled by IndexUniverse. The market’s losses were the biggest factor in the asset drop.

The Dow Jones industrial average fell 240.60 points, or 2.16 percent, to end the session at 10,913.38. The index ended the quarter 12 percent lower as Europe’s ongoing debt problems, sluggish growth in the U.S. and signs China’s expansion was slowing down dragged equities lower.

The Nos. 2 and 3 funds on IndexUniverse’s “Top 10 Redemptions” list were the Materials Select Sector SPDR ETF (NYSEArca: XLB) and the iShares Russell 2000 Index Fund (NYSEArca: IWM), which suffered outflows of $236.3 million and $141.5 million, respectively.

Creations: FlexShares Arrives

The SPDR S&P 500 ETF (NYSEArca: SPY) topped IndexUniverse’s “Top 10 Creations” list on Friday, pulling in $339.4 million. Still, its assets fell to $81.23 billion by dint of the market’s losses.

The return of volatility put the iPath S&P 500 Short-Term VIX Futures ETN (NYSEArca: VXX) back on the creations list, with VXX pulling in $116.5 million, or 12 percent of its assets. The ETN now has just over $1 billion in assets.

The most noteworthy creations on Friday were inflows into three of the four FlexShares ETFs that came to market last month. FlexShares is the second coming of exchange-traded funds from Northern Trust, and Friday’s creations were exceedingly large on a percentage basis.

The FlexShares iBoxx 5-Year Target Duration TIPS (NYSEArca: TDTF) and the FlexShares iBoxx 3-Year Target Duration TIPS (NYSEArca: TDTT) gathered $95.3 million and $88 million, respectively. On a percentage basis, those inflows amounted to 3,850 percent and 3,413 percent, respectively.

Similarly, the FlexShares Morningstar U.S. Global Upstream Natural Resources Fund (NYSEArca: GUNR) had inflows of $64.1 million, which amounted to 1,400 percent of its assets at the start of the day.

Investors also moved into bonds, with the iShares iBoxx $ Investment Grade Corporate Bond Fund (NYSEArca: LQD) gathering $122.6 million, bringing assets in the ETF to $14.87 billion.

Top 10 Creations (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 339.37 81,232.89 0%
LQD iShares iBoxx $ Investment Grade Corporate Bond 122.55 14,872.94 1%
VXX iPath S&P 500 VIX Short-Term Futures ETN 116.55 1,072.51 12%
TDTF FlexShares iBoxx 5-Year Target Duration TIPS 95.28 97.76 3850%
TDTT FlexShares iBoxx 3-Year Target Duration TIPS 87.99 90.57 3413%
IWO iShares Russell 2000 Growth 77.21 3,147.27 3%
IWD iShares Russell 1000 Value 76.39 9,478.47 1%
XLE Energy Select SPDR 76.10 6,265.13 1%
GUNR FlexShares Morningstar U.S. Global Upstream Natural Resources 64.11 68.69 1400%
TNA Direxion Daily Small Cap Bull 3x 44.62 890.70 5%

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
QQQ PowerShares QQQ -750.26 21,251.19 -3%
XLB Materials Select SPDR -236.33 1,420.15 -14%
IWM iShares Russell 2000 -141.52 12,460.35 -1%
DIA SPDR Dow Jones Industrial Average Trust -103.47 9,104.71 -1%
IVV iShares S&P 500 -90.80 23,875.65 0%
XOP SPDR S&P Oil & Gas Exploration & Production -87.91 495.30 -15%
KBE SPDR KBW Bank -87.80 1,022.01 -8%
SHV iShares Barclays Short Treasury Bond -77.15 3,989.95 -2%
DBA PowerShares DB Agriculture -47.89 2,556.34 -2%
IBB iShares NASDAQ Biotechnology -42.00 1,222.62 -3%

ETF Daily Flows By Asset Class

Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity -1,038.32 414,331.92 -0.25%
International Equity -43.80 234,510.15 -0.02%
U.S. Fixed Income 430.80 160,112.96 0.27%
International Fixed Income 13.71 11,609.79 0.12%
Commodities -147.64 107,548.81 -0.14%
Currency -16.54 4,494.31 -0.37%
Leveraged 10.96 11,357.26 0.10%
Inverse 76.47 25,272.64 0.30%
Asset Allocation - 865.96 0.00%
Alternatives 99.65 3,381.92 2.95%
Total: -614.72 973,485.72 -0.06%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1-Day Volume % of Average
EWX SPDR S&P Emerging Markets Small Cap 167,756 2,692,754 1605%
IFGL iShares FTSE EPRA/NAREIT Developed Real Estate ex-US. 59,120 640,507 1083%
PTH PowerShares Dynamic Healthcare Portfolio 38,642 328,023 849%
WOOD iShares S&P Global Timber & Forestry 32,172 263,426 819%
RJN ELEMENTS Rogers International Commodity - Energy Total Return ETN 73,919 381,808 517%
CYB WisdomTree Dreyfus Chinese Yuan 222,586 1,081,031 486%
FFR First Trust FTSE EPRA/NAREIT Developed Markets Real Estate 11,671 51,509 441%
RJA ELEMENTS Rogers International Commodity - Agriculture Total Return ETN 663,344 2,861,832 431%
GNR SPDR Global Natural Resources 29,525 126,937 430%
TUZ PIMCO 1-3 Year U.S. Treasury 17,085 71,298 417%

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

Ticker Name 1-Day Performance 1-Day Volume AUM ($, mm)
GWO ELEMENTS Credit Suisse Global Warming ETN 10.27% 1,057 2.81
VIXY ProShares VIX Short-Term 7.33% 323,596 28.90
VIIX VelocityShares VIX Short Term ETN 7.22% 53,950 52.51
VXX iPath S&P 500 VIX Short-Term Futures ETN 7.04% 32,404,717 1,072.51
VXAA ETRACS 1-Month S&P 500 VIX Futures ETN 6.06% 92,900 13.03
EAPS Pax MSCI EAFE ESG 5.39% 4,654 2.05
FEP First Trust Europe AlphaDex 5.16% 1,300 2.09
CVRT PowerShares Convertible Securities Portfolio 4.51% 1,200 8.45
VXCC ETRACS 3-Month S&P 500 VIX Futures ETN 4.43% 6,000 11.96
VXZ iPath S&P 500 VIX Mid-Term Futures ETN 4.24% 248,635 589.13

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

Ticker Name 1-Day Performance 1-Day Volume AUM ($, mm)
EIPO ETRACS Internet IPO ETN -10.14% 1,800 6.45
FCA First Trust China AlphaDex -8.14% 2,600 1.72
EWEM Rydex MSCI Emerging Markets Equal Weight -8.12% 13,803 14.94
CHIQ Global X China Consumer -7.51% 163,597 128.60
CHIX Global X China Financials -7.00% 2,000 3.90
JJG iPath Dow Jones UBS Grains Total Return ETN -6.98% 460,662 230.87
ERUS iShares MSCI Russia Capped -6.77% 61,531 89.06
CHXX EGShares INDXX China Infrastructure -6.75% 3,992 12.62
GRU ELEMENTS MLCX Grains - Total Return ETN -6.70% 124,978 21.29
RSX Market Vectors Russia -6.54% 7,106,630 1,660.83

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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