Weekly ETF Fund Flows: Bond Bonanza

July 13, 2012

Investors piled into bonds in the week ended Thursday, July 12, as the Dow's 2.3 percent drop dragged total U.S-listed ETF assets down to $1.171 trillion.

Investors piled into bond funds in the past week, as stock markets around the world turned skittish amid stronger and stronger views that Europe’s fiscal mess and slowing growth in China were already putting the brakes on U.S. growth.

IndexUniverse’s “Top 10 Creations” list included a number of marquee bond funds, including the $15 billion iShares iBoxx $ Investment Grade Corporate Bond Fund (NYSEArca: HYG) and the Pimco Total Return ETF (NYSEArca: BOND). The popular iShares junk bond ETF pulled in $234.4 million in fresh assets, while Bill Gross’ $1.94 billion BOND added $138.4 million.

Bond funds in general gathered more than $1 billion in new assets, while U.S. equities suffered outflows of about $689 million. Overall, net inflows were just $119.1 million, and total U.S.-listed ETF assets fell to $1.171 trillion in the week ended Thursday, July 12 from about $1.171 trillion a week earlier, according to data compiled by IndexUniverse.

That means the stock market’s decline was behind the drop in total assets and, indeed, the Dow Jones industrial average’s 323-point, or 2.5 percent, drop just about matched the percentage-point drop in ETF assets.

Investors seem to be accepting that with much of southern Europe already in a recession and China’s growth slowing, stocks are probably heading lower in the near term. IndexUniverse’s weekly flows survey didn’t capture the effects of China’s report that second-quarter growth fell to 7.6 percent in the second quarter from 8.1 percent in the first quarter, but the data did validate investor suspicions.

Not surprisingly, the SPDR S&P 500 ETF (NYSEArca: SPY) was the least popular fund in the week, bleeding $2.27 billion in assets. It’s the biggest ETF in the world, and is frequently at the top of any flows survey we do here.

Gold ETF flows meanwhile presented a mixed picture, with the iShares Gold Trust (NYSEArca: IAU) adding $142.1 million in new assets, while the SPDR Gold Shares (NYSEArca: GLD) suffered redemptions of $476.7 million.

Investors have been flocking to dollar-denominated assets, such as Treasurys, which has hurt gold prices. As the dollar rises, the price of gold, which is measured in dollars, is likely to fall. Spot gold prices have fallen about 3 percent in the past five days.

That said, if central banks around the world ramp up their easy-money policies in the form of interest rate cuts and/or more quantitative easing, many analysts believe the dollar will weaken and gold will once again shine as the safe haven of choice. 

 

Top 10 Creations (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
OEF iShares S&P 100 692.91 4,258.09 19.44%
IWM iShares Russell 2000 550.74 15,555.09 3.67%
DIA SPDR Dow Jones Industrial Average Trust 539.34 11,257.89 5.03%
HYG iShares iBoxx $ High Yield Corporate Bond 234.42 15,026.34 1.58%
LQD iShares iBoxx $ Investment Grade Corporate Bond 200.69 23,208.06 0.87%
VEA Vanguard MSCI EAFE 185.43 8,157.30 2.33%
VTV Vanguard Value 154.16 5,870.05 2.70%
IAU iShares Gold Trust 142.07 9,192.26 1.57%
EMB iShares JPMorgan USD Emerging Markets Bond 138.50 5,002.13 2.85%
BOND PIMCO Total Return 138.38 1,944.41 7.66%

 

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 -2,272.71 103,826.87 -2.14%
XLI Industrial Select SPDR -676.59 2,717.30 -19.94%
GLD SPDR Gold -476.71 63,521.49 -0.74%
XLE Energy Select SPDR -252.81 6,998.70 -3.49%
XLY Consumer Discretionary Select SPDR -240.67 3,136.72 -7.13%
XLK Technology Select SPDR -205.20 8,823.65 -2.27%
VWO Vanguard MSCI Emerging Markets -204.41 49,640.22 -0.41%
IEF iShares Barclays 7-10 Year Treasury Bond -185.12 4,912.65 -3.63%
IWF iShares Russell 1000 Growth -142.41 15,339.97 -0.92%
USO United States Oil -125.80 1,243.55 -9.19%

 

ETF Weekly Daily Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity -689.35 540,107.61 -0.13%
International Equity -43.66 256,751.85 -0.02%
U.S. Fixed Income 612.27 211,640.15 0.29%
International Fixed Income 420.32 18,039.56 2.33%
Commodities -487.93 104,173.36 -0.47%
Currency -32.04 2,939.69 -1.09%
Leveraged 97.35 12,193.11 0.80%
Inverse 198.14 19,648.79 1.01%
Asset Allocation 9.79 1,889.95 0.52%
Alternatives 34.26 4,061.46 0.84%
Total: 119.14 1,171,445.53 0.01%

 

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
IYJ iShares Dow Jones U.S. Industrial 109,005 2,313,556 424.49%
FXN First Trust Energy AlphaDEX 140,457 2,592,070 369.09%
XSD SPDR S&P Semiconductor 56,467 966,820 342.44%
RYT Guggenheim S&P Equal Weight Technology 18,455 311,957 338.07%
FXR First Trust Industrials/Producer Durables AlphaDEX 164,287 2,635,739 320.87%
PBW PowerShares WilderHill Clean Energy Portfolio 237,692 3,633,273 305.71%
MCHI iShares MSCI China 154,448 2,357,844 305.33%
TILT FlexShares Morningstar U.S. Market Factor Tilt Index 15,439 234,920 304.31%
IYE iShares Dow Jones U.S. Energy 319,848 4,667,969 291.89%
TOK iShares MSCI Kokusai 5,499 74,550 271.15%

 

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
TAGS Teucrium Agricultural 16.08% 1,866 2.68
DPU PowerShares DB Commodity Long ETN 13.31% 1,582 6.06
USMI United States Metals Index Fund 12.32% 4,530 2.42
DIRT iPath Pure Beta Agriculture ETN 8.98% 1,469 3.00
LEDD iPath Pure Beta Lead ETN 6.80% 2,270 0.69
ONG iPath Pure Beta Energy ETN 5.82% 2,500 2.29
ZROZ PIMCO 25+ Year Zero Coupon U.S. Treasury 4.68% 100,774 179.99
EDV Vanguard Extended Duration Treasury 4.59% 111,441 213.92
UGEM EGShares Utilities GEMS 4.29% 30,202 2.62
CAFE iPath Pure Beta Coffee ETN 4.14% 3,800 1.40

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
KOL Market Vectors Coal -10.65% 771,455 164.29
RING iShares MSCI Global Gold Miners -10.00% 30,265 28.51
PXQ PowerShares Dynamic Networking Portfolio -9.88% 222,117 53.60
PKOL PowerShares Global Coal Portfolio -9.45% 10,376 9.35
PSAU PowerShares Global Gold and Precious Metals Portfolio -9.18% 6,232 30.24
GDXJ Market Vectors Junior Gold Miners -9.15% 14,377,015 1,970.61
COPX Global X Copper Miners -8.95% 105,437 25.68
GDX Market Vectors Gold Miners -8.87% 76,420,870 7,590.42
KWT Market Vectors Solar Energy -8.83% 6,452 9.12
GLDX Global X Gold Explorers -8.78% 208,841 27.91

Top 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
XIV VelocityShares Daily Inverse VIX Short Term ETN 83.12 1.46 257.81
SVXY ProShares Short VIX Short-Term Futures 81.01 0.84 33.23
AAVX ETRACS Daily Short 1-Month S&P 500 VIX Futures ETN 77.57 -0.72 15.39
BIB ProShares Ultra NASDAQ Biotech 53.46 -4.55 26.52
BBVX ETRACS Daily Short 2-Month S&P 500 VIX Futures ETN 49.46 -0.73 14.35
RETL Direxion Daily Retail Bull 3X Shares 49.43 -4.24 9.07
DRN Direxion Daily Real Estate Bull 3x 46.34 -1.15 94.18
IVOP iPath Inverse January 2021 S&P 500 VIX Short-Term Futures ETN 43.67 3.71 3.29
ITLT PowerShares DB 3X Italian Treasury Bond Futures ETN 43.56 0.60 31.42
BDCL ETRACS 2X Leveraged Long Wells Fargo Business Development Company ETN 42.93 -2.10 44.98

Bottom 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
UVXY ProShares Ultra VIX Short-Term Futures -88.46 -3.66 277.12
TVIX VelocityShares Daily 2X VIX Short Term ETN -87.51 -5.25 274.91
CVOL C-Tracks Exchange-Traded Notes on the Citi Volatility -68.99 -1.42 6.61
VIXY ProShares VIX Short-Term -60.22 -1.57 136.82
VXX iPath S&P 500 VIX Short-Term Futures ETN -60.20 -1.79 1,697.65
VIIX VelocityShares VIX Short Term ETN -60.05 -1.51 35.16
VXAA ETRACS 1-Month S&P 500 VIX Futures ETN -58.08 -14.52 3.60
NUGT Direxion Daily Gold Miners Bull 3X -55.14 -24.64 197.73
BOIL ProShares Ultra DJ-UBS Natural Gas -54.35 -5.98 63.54
TVIZ VelocityShares Daily 2X VIX Mid Term ETN -53.60 -6.22 4.23

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.

Find your next ETF

Reset All