Big Inflows From SPY, Outflows From XLK Last Week

Big Inflows From SPY, Outflows From XLK Last Week

Heartbeat trades were prominent last week.

sumit
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Senior ETF Analyst
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Reviewed by: etf.com Staff
,
Edited by: James Rubin

Investors pushed $3.9 billion into U.S.-listed ETFs last week, bringing year-to-date inflows up to $406.1 billion.
U.S. fixed income ETFs accumulated $4 billion of new money, while U.S. equity ETFs shed $3.2 billion.

Total assets under management in U.S.-listed ETFs hit $9.22 trillion thanks to the modest inflows and fresh record highs in the U.S. stock market.

The S&P 500 hovered just below 5,500 for much of last week, a gain of almost 16% for the year.

On the other hand, despite their inflows last week, prices for fixed income ETFs mostly fell as Treasury yields ticked up. 

The 10-year Treasury bond yield approached 4.5% for the first time in three weeks as election odds shifted in favor of Trump over Biden.

More Tax-Related Trades

Taking a look at individual ETFs, the SPDR S&P 500 ETF Trust (SPY) easily topped the inflows charts with creations of $16.7 billion. It was followed by the iShares Russell Mid-Cap ETF (IWR) and the iShares Russell Mid-Cap Growth ETF (IWP).

However, just like last week, many of these flows figures are muddied by heartbeat trades designed to minimize taxes.

Those trades tend to be more common during quarterly index rebalancings, when stocks are added and subtracted from indices.

The Technology Select Sector SPDR Fund (XLK), which had outflows of $8.5 billion last week, is case in point. Its outflow is essentially a mirror image of the prior week’s inflow, and is meant to reduce the taxes associated with its shifting portfolio, including a $10 billion sale of Apple shares in exchange for Nvidia. 

Following behind XLK on the weekly outflows list was the Vanguard Growth ETF (VUG), which had $6 billion of outflows—another heartbeat trade. 

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<
SPYSPDR S&P 500 ETF Trust16,678.36543,033.823.07
IWRiShares Russell Mid-Cap ETF3,376.5136,998.119.13
IWPiShares Russell Mid-Cap Growth ETF3,340.8817,672.5418.90
TLTiShares 20+ Year Treasury Bond ETF2,699.1353,985.805.00
IVViShares Core S&P 500 ETF2,189.58489,887.170.45
IWSiShares Russell Mid-Cap Value ETF1,597.3914,158.4111.28
OMFLInvesco Russell 1000 Dynamic Multifactor ETF1,374.827,392.3418.60
VONGVanguard Russell 1000 Growth ETF1,282.4622,196.425.78
VEAVanguard FTSE Developed Markets ETF1,278.45132,333.100.97
IWBiShares Russell 1000 ETF1,235.1937,687.063.28



 

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($, mm)AUM ($, mm)AUM % Change
XLKTechnology Select Sector SPDR Fund-8,583.0770,250.76-12.22
VUGVanguard Growth ETF-6,030.51134,986.94-4.47
VOOVanguard 500 Index Fund-5,858.06473,839.57-1.24
COWZPacer U.S. Cash Cows 100 ETF-3,070.6523,016.98-13.34
SPHQInvesco S&P 500 Quality ETF-2,881.8710,029.12-28.74
VXFVanguard Extended Market ETF-2,703.3618,349.01-14.73
MOATVanEck Morningstar Wide Moat ETF-2,437.7914,395.57-16.93
VTIVanguard Total Stock Market ETF-1,908.20410,244.71-0.47
SMHVanEck Semiconductor ETF-1,582.2622,778.90-6.95
SPGPInvesco S&P 500 GARP ETF-1,466.554,763.97-30.78



 

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
Alternatives60.277,933.130.76%
Asset Allocation118.0718,561.060.64%
Commodities-190.24141,435.58-0.13%
Currency-217.3956,973.19-0.38%
International Equity1,468.591,498,184.140.10%
International Fixed Income857.83205,374.500.42%
Inverse-444.8212,979.50-3.43%
Leveraged1,389.88107,082.421.30%
U.S. Equity-3,179.705,749,283.80-0.06%
U.S. Fixed Income4,014.381,422,718.090.28%
Total:3,876.889,220,525.410.04%



 

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
Alternatives1,157.427,933.1314.59%
Asset Allocation722.3218,561.063.89%
Commodities-4,833.02141,435.58-3.42%
Currency14,775.1856,973.1925.93%
International Equity55,954.041,498,184.143.73%
International Fixed Income28,405.03205,374.5013.83%
Inverse631.2412,979.504.86%
Leveraged-3,911.16107,082.42-3.65%
U.S. Equity223,151.215,749,283.803.88%
U.S. Fixed Income90,056.051,422,718.096.33%
Total:406,108.319,220,525.414.40%



 

Top 10 Volume Surprises, Funds >$50 mm AUM

TickerNameAverage Volume
(30 Day)
1 Week Average
Volume
% of Average
JULWAllianzIM U.S. Large Cap Buffer20 Jul ETF125,6813,175,349.002,526.52%%
NUGONuveen Growth Opportunities ETF177,3284,358,296.002,457.76%%
FEBTAllianzIM U.S. Large Cap Buffer10 Feb ETF56,5931,359,209.002,401.72%%
MKORMatthews Korea Active ETF7,222151,786.002,101.68%%
SIXPAllianzIM U.S. Large Cap 6 Month Buffer10 Mar/Sep ETF39,934833,365.002,086.84%%
MARWAllianzIM U.S. Large Cap Buffer20 Mar ETF96,5451,709,653.001,770.84%%
USCLiShares Climate Conscious & Transition MSCI USA ETF31,669539,287.001,702.91%%
XEMDBondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF10,603179,470.001,692.58%%
GSIDGoldman Sachs MarketBeta International Equity ETF35,267586,153.001,662.05%%
SIXJAllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF56,328857,004.001,521.45%%



 

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

TickerNameWeekly PerformanceWeekly VolumeAUM ($, mm)
PFIXSimplify Interest Rate Hedge ETF5.74%149,516141.51
BUGGlobal X Cybersecurity ETF5.26%933,243790.45
CONYYieldMax COIN Option Income Strategy ETF5.10%5,346,439631.14
WCBRWisdomTree Cybersecurity Fund4.71%151,32192.74
NVDYYieldMax NVDA Option Income Strategy ETF4.64%8,163,928738.10
WCLDWisdomTree Cloud Computing Fund4.63%1,198,977485.25
LRNZTrueShares Technology, AI & Deep Learning ETF4.43%50,98342.88
PSWDXtrackers Cybersecurity Select Equity ETF3.94%1,3335.97
SKYYFirst Trust Cloud Computing ETF3.92%495,1012,979.98
TSLPKurv Yield Premium Strategy Tesla TSLA ETF3.91%34,1773.39



 

Top 10 YTD Performers

TickerNameYTD PerformanceWeekly PerformanceAUM ($, mm)
NVDYYieldMax NVDA Option Income Strategy ETF93.79%4.64%738.10
GBTCGrayscale Bitcoin Trust ETF53.78%1.27%16,916.59
SMHVanEck Semiconductor ETF49.08%1.94%22,778.90
BTFValkyrie Bitcoin and Ether Strategy ETF39.64%1.77%48.31
EETHProShares Ether Strategy ETF39.59%2.40%103.49
ARKYARK 21Shares Active Bitcoin Ethereum Strategy ETF38.88%1.26%4.76
ARKZARK 21Shares Active Ethereum Futures Strategy ETF38.65%1.60%12.91
CRPTFirst Trust SkyBridge Crypto Industry and Digital Economy ETF38.57%3.02%59.24
BETEProShares Bitcoin & Ether Equal Weight Strategy ETF37.74%1.78%4.20
BETHProShares Bitcoin & Ether Market Cap Weight Strategy ETF36.89%1.50%7.05



 

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.

Sumit Roy is the senior ETF analyst for etf.com, where he has worked for 13 years. He creates a variety of content for the platform, including news articles, analysis pieces, videos and podcasts.

Before joining etf.com, Sumit was the managing editor and commodities analyst for Hard Assets Investor. In those roles, he was responsible for most of the operations of HAI, a website dedicated to education about commodities investing.

Though he still closely follows the commodities beat, Sumit covers a much broader assortment of topics for etf.com, with a particular focus on stock and bond exchange-traded funds.

He is the host of etf.com’s Talk ETFs, a popular video series that features weekly interviews with thought leaders in the ETF industry. Sumit is also co-host of Exchange Traded Fridays, etf.com’s weekly podcast series.

He lives in the San Francisco Bay Area, where he enjoys climbing the city’s steep hills, playing chess and snowboarding in Lake Tahoe.