VGSH Topped December Flows as Rates Stay High
Small cap fund IWM and core S&P ETF IVV each pulled in more than $1 bln.
With an improving stock market driving record inflows in the second half of 2023, assets in ETFs ballooned to nearly $8 trillion by the end of the year.
The $22 billion Vanguard Short-Term Treasury Index Fund (VGSH) came in first for inflows in December, accumulating $1.3 billion and rising 6.41% on the heels of the Federal Reserve declining to raise interest rates in November. In fact, fixed income reigned in terms of inflows in December. The month saw $24.1 billion into fixed income funds, bringing the 2023 total inflows to $210 billion, the second highest ever for bond ETFs in one year, according to State Street’s industry data.
The iShares Russel 2000 (IWM), which offers investors exposure to market weighted small cap stocks, saw $1.3 billion in inflows over December as the fund’s assets under management rose only 2% over the month.
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change< |
| VGSH | Vanguard Short-Term Treasury Index Fund | 1,429.35 | 22,293.81 | 6.41% |
| IWM | iShares Russell 2000 ETF | 1,320.33 | 67,849.72 | 1.95% |
| IVV | iShares Core S&P 500 ETF | 1,195.68 | 399,874.52 | 0.30% |
| VTI | Vanguard Total Stock Market ETF | 995.75 | 347,957.33 | 0.29% |
| QQQ | Invesco QQQ Trust | 657.02 | 230,067.86 | 0.29% |
| XLP | Consumer Staples Select Sector SPDR Fund | 543.71 | 15,179.70 | 3.58% |
| TLT | iShares 20+ Year Treasury Bond ETF | 531.66 | 51,626.56 | 1.03% |
| BNDX | Vanguard Total International Bond ETF | 453.73 | 54,480.44 | 0.83% |
| BND | Vanguard Total Bond Market ETF | 360.82 | 104,802.62 | 0.34% |
| IGSB | iShares 1-5 Year Investment Grade Corporate Bond ETF | 335.51 | 21,458.97 | 1.56% |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change |
| SPY | SPDR S&P 500 ETF Trust | -1,660.42 | 493,539.33 | -0.34% |
| SQQQ | ProShares UltraPro Short QQQ | -382.12 | 3,270.86 | -11.68% |
| XLB | Materials Select Sector SPDR Fund | -286.28 | 5,070.06 | -5.65% |
| USCL | iShares Climate Conscious & Transition MSCI USA ETF | -275.37 | 1,808.93 | -15.22% |
| XLI | Industrial Select Sector SPDR Fund | -273.53 | 15,335.70 | -1.78% |
| DIA | SPDR Dow Jones Industrial Average ETF Trust | -262.38 | 32,457.18 | -0.81% |
| USCA | Xtrackers MSCI USA Climate Action Equity ETF | -260.43 | 1,866.76 | -13.95% |
| IWB | iShares Russell 1000 ETF | -249.20 | 32,376.76 | -0.77% |
| SH | ProShares Short S&P500 | -200.16 | 1,261.25 | -15.87% |
| BIL | SPDR Bloomberg 1-3 Month T-Bill ETF | -191.76 | 33,354.20 | -0.57% |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| Alternatives | -62.59 | 6,587.45 | -0.95% |
| Asset Allocation | 41.41 | 16,851.83 | 0.25% |
| Commodities | -66.50 | 131,706.55 | -0.05% |
| Currency | 23.27 | 3,553.13 | 0.65% |
| International Equity | 1,218.60 | 1,375,048.21 | 0.09% |
| International Fixed Income | 886.37 | 169,651.87 | 0.52% |
| Inverse | -1,637.67 | 13,973.85 | -11.72% |
| Leveraged | 1,516.09 | 85,397.06 | 1.78% |
| U.S. Equity | 5,660.76 | 4,984,400.13 | 0.11% |
| U.S. Fixed Income | 4,838.76 | 1,357,733.27 | 0.36% |
| Total: | 12,418.51 | 8,144,903.35 | 0.15% |
Asset Classes (Year-to-Date)
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| Alternatives | -107.48 | 6,587.45 | -1.63% |
| Asset Allocation | -1,763.15 | 16,851.83 | -10.46% |
| Commodities | -9,108.59 | 131,706.55 | -6.92% |
| Currency | -834.00 | 3,553.13 | -23.47% |
| International Equity | 82,240.90 | 1,375,048.21 | 5.98% |
| International Fixed Income | 30,109.89 | 169,651.87 | 17.75% |
| Inverse | 3,094.98 | 13,973.85 | 22.15% |
| Leveraged | 2,576.04 | 85,397.06 | 3.02% |
| U.S. Equity | 306,651.12 | 4,984,400.13 | 6.15% |
| U.S. Fixed Income | 175,383.58 | 1,357,733.27 | 12.92% |
| Total: | 588,243.29 | 8,144,903.35 | 7.22% |
Top 10 Volume Surprises, Funds >$50 mm AUM
| Ticker | Name | Average Volume (30 Day) | 1 Week Average Volume | % of Average |
| GFEB | FT Cboe Vest U.S. Equity Moderate Buffer ETF - February | 55,841 | 1,119,320.00 | 2,004.48%% |
| QMAR | FT Cboe Vest Nasdaq-100 Buffer ETF - March | 65,800 | 1,186,112.00 | 1,802.61%% |
| CIL | VictoryShares International Volatility Wtd ETF | 3,432 | 57,334.00 | 1,670.78%% |
| KAPR | Innovator U.S. Small Cap Power Buffer ETF - April | 55,324 | 596,180.00 | 1,077.61%% |
| SVAL | iShares U.S. Small Cap Value Factor ETF | 18,062 | 192,368.00 | 1,065.03%% |
| KJAN | Innovator U.S. Small Cap Power Buffer ETF - January | 78,184 | 800,232.00 | 1,023.52%% |
| FLSP | Franklin Systematic Style Premia ETF | 64,006 | 640,307.00 | 1,000.39%% |
| SCJ | iShares MSCI Japan Small-Cap ETF | 16,222 | 158,760.00 | 978.69%% |
| FTXO | First Trust Nasdaq Bank ETF | 64,597 | 585,282.00 | 906.06%% |
| FEMB | First Trust Emerging Markets Local Currency Bond ETF | 79,305 | 700,089.00 | 882.78%% |
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| BDRY | Breakwave Dry Bulk Shipping ETF | 7.18% | 589,670 | 61.11% |
| RAYS | Global X Solar ETF | 4.61% | 11,345 | 7.12% |
| CNXT | VanEck ChiNext ETF | 4.39% | 69,208 | 17.22% |
| KGRN | KraneShares MSCI China Clean Technology Index ETF | 4.36% | 34,018 | 66.91% |
| CANE | Teucrium Sugar Fund | 4.28% | 131,891 | 17.73% |
| UNG | United States Natural Gas Fund LP | 3.84% | 41,306,751 | 973.83% |
| KBUY | KraneShares CICC China Consumer Leaders Index ETF | 3.80% | 6,280 | 4.38% |
| KBA | KraneShares Bosera MSCI China A 50 Connect Index ETF | 3.30% | 244,857 | 280.23% |
| KFVG | KraneShares CICC China 5G & Semiconductor Index ETF | 3.16% | 6,570 | 11.18% |
| MCH | Matthews China Active ETF | 3.11% | 160,597 | 21.66% |
Top 10 YTD Performers
| Ticker | Name | YTD Performance | Weekly Performance | AUM ($, mm) |
| WGMI | Valkyrie Bitcoin Miners ETF | 304.07% | -5.75% | 73.31% |
| DAPP | VanEck Digital Transformation ETF | 285.02% | -4.84% | 95.13% |
| SATO | Invesco Alerian Galaxy Crypto Economy ETF | 266.36% | -4.48% | 8.44% |
| BITQ | Bitwise Crypto Industry Innovators ETF | 246.77% | -4.06% | 143.36% |
| BITS | Global X Blockchain and Bitcoin Strategy ETF | 214.01% | -15.19% | 25.38% |
| IBLC | iShares Blockchain and Tech ETF | 201.57% | -4.64% | 19.02% |
| CRPT | First Trust SkyBridge Crypto Industry and Digital Economy ETF | 193.86% | -4.31% | 35.81% |
| FDIG | Fidelity Crypto Industry and Digital Payments ETF | 166.00% | -3.59% | 80.84% |
| BITO | ProShares Bitcoin Strategy ETF | 137.33% | -2.30% | 1,700.13% |
| GFOF | Grayscale Future of Finance ETF | 136.23% | -7.39% | 7.19% |
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.
