ETF Fund Flows Report: Week Ending 2/1/08

February 05, 2008

In sum, across all 650 U.S. ETFs on the market for more than a week, there was a net $8.2 billion in redemption activity last week.

In sum, across all 650 U.S. ETFs on the market for more than a week, there was a net $8.2 billion in redemption activity last week. All told, there were 141 ETFs with net creation activity and 119 ETFs with net redemption activity.

Largest Net Creations

No funds broke the $1 billion mark for net creation activity last week, which was marked by strong net redemptions on an industry basis. The leading fund for creation activity was the iShares MSCI Emerging Markets (EEM) ETF, with $667 million, followed by the ProShares UltraShort Financials at $384 million.

Scanning down the list, the strong creation activity in the KBW Regional Banking (KRE) and KBW Bank (KBE) ETF stands out; it remains to be seen if those funds were created for long demand or to (perhaps more likely) fuel short shares.

Vanguard makes a strong showing this week, with four funds landing in the top 20, reflecting slow but steady cash flow into that ETF family.

Top 20 ETFs By Creation Activity - Week Ending February 1, 2008

Fund

Ticker

Creation Shares

Dollar Value

iShares MSCI-Emerging Markets

EEM

         4,950,000

         $666,715,500

ProShares UltraShort Financials

SKF

         3,975,000

         $384,104,250

iShares Lehman 20+ Year Treasury Bond

TLT

         3,300,000

         $312,873,000

United States Oil Fund

USO

         3,800,000

         $276,602,000

SPDR S&P Metals & Mining

XME

         3,650,000

         $240,097,000

KBW Regional Banking

KRE

         4,750,000

         $183,920,000

KBW Bank

KBE

         3,400,000

         $158,270,000

Vanguard Emerging Markets

VWO

         1,604,990

         $149,793,717

ProShares UltraShort S&P 500

SDS

         2,400,000

         $145,680,000

Vanguard Total Market

VTI

             858,340

         $117,129,076

Market Vectors-  Gold Miners

GDX

         2,200,000

         $110,242,000

Vanguard Dividend Appreciation

VIG

         2,000,000

         $106,960,000

PowerShares DB Agriculture

DBA

         2,800,000

         $103,320,000

iShares Lehman TIPS Bond

TIP

             800,000

           $87,568,000

iShares MSCI-Hong Kong              

EWH

         4,350,000

           $85,260,000

iShares Lehman 7-10 Year Treasury Bond

IEF

             900,000

           $80,730,000

iShares S&P 100 Index

OEF

         1,250,000

           $80,650,000

Select Sector SPDR-Industrial

XLI

         1,950,000

           $72,676,500

iShares Russell MidCap Value

IWS

             500,000

           $67,380,000

Vanguard Growth

VUG

         1,100,000

           $65,395,000

 

Largest Net Redemptions

The list of net redemption activity is more robust, with four funds marking over $1 billion in net redemptions, spearheaded by a $3.1 billion pullout from the iShares Russell 2000 ETF (IWM).

Large-cap US funds turn up in big numbers as well, with the iShares S&P 500 (IVV) and S&P 500 SPDR (SPY) funds notching $1.7 and $1.4 billion in redemptions, respectively. Five of the Select Sector SPDR funds also showed net redemptions, with pullbacks in Energy, Consumer Discretionary, Utilities, Materials and Technology.

Top 20 ETFs By Redemption Activity - Week Ending February 2, 2008

Fund

Ticker

Creation Shares

Dollar Value

iShares Russell 2000        

IWM

        (43,800,000)

         ($3,111,552,000)

Select Sector SPDR-Financial

XLF

        (74,950,000)

         ($2,172,800,500)

iShares S&P 500

IVV

        (12,350,000)

         ($1,705,164,500)

S&P 500 SPDR

SPY

           (9,800,000)

         ($1,350,538,000)

Select Sector SPDR-Energy

XLE

        (12,550,000)

            ($885,026,000)

DJIA DIAMONDS

DIA

           (4,300,000)

            ($543,563,000)

Select Sector SPDR-Consumer Discretionary

XLY

        (15,000,000)

            ($486,000,000)

iShares DJ US Real Estate             

IYR

           (5,600,000)

            ($368,200,000)

iShares Russell 1000 Value

IWD

           (4,350,000)

            ($336,168,000)

iShares MSCI-Japan              

EWJ

        (19,800,000)

            ($252,648,000)

iShares Russell 1000 Growth

IWF

           (4,400,000)

            ($247,192,000)

Select Sector SPDR-Utilities

XLU

           (5,550,000)

            ($220,057,500)

Select Sector SPDR-Materials

XLB

           (5,450,000)

            ($218,272,500)

Select sector SPDR-Technology

XLK

           (7,150,000)

            ($167,596,000)

ProShares Ultra QQQ

QLD

           (2,025,000)

            ($154,730,250)

SPDR S&P Homebuilders

XHB

           (4,400,000)

               ($98,692,000)

PowerShares QQQ Trust  

QQQQ

           (1,800,000)

               ($82,098,000)

iShares Russell 1000

IWB

           (1,050,000)

               ($78,844,500)

iShares Lehman 1-3 Year Treasury Bond

SHY

              (900,000)

               ($75,132,000)

ProShares UltraShort QQQ

QID

           (1,350,000)

               ($64,975,500)

Data from the American Stock Exchange.

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