2017 ETF Inflows Near $70B As Stocks Hit Record Highs

Almost $18 billion flowed into U.S.-listed ETFs in the latest week, with most of it heading to equity funds.

sumit
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Senior ETF Analyst
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Reviewed by: Sumit Roy
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Edited by: Sumit Roy

Flows into U.S.-listed exchange-traded funds accelerated in the past week, as the U.S. stock market zoomed to a record high. In total, $17.9 billion flowed into ETFs in the week ending Thursday, Feb. 16, according to FactSet. The year-to-date total for inflows now stands at $69.3 billion.

Unsurprisingly, the majority of the new money went into U.S. equity ETFs, which had net creations of $10.5 billion. The S&P 500 climbed 1.5% week-over-week, and is now up 5.2% for 2017 as a whole.

Even with the flurry of buying in U.S. equities, other segments also saw inflows of their own. International equity ETFs took in $3.7 billion and U.S. fixed-income ETFs took in $2.6 billion. International fixed-income ETFs and commodity ETFs had much more modest inflows during the period, $218 million and $484 million, respectively.

Sector ETFs 'XLF' & 'XLP' See Inflows
The SPDR S&P 500 ETF (SPY) topped the list for individual ETF flows, garnering $4.3 billion worth of creations. At the same time, two sector ETFs made the top 10; the Financial Select Sector SPDR Fund (XLF), with inflows of $1.3 billion, and the Consumer Staples Select Sector SPDR Fund (XLP), with inflows of $494 million.

A pair of "risk-on" type of ETFs to make the cut were the iShares Core MSCI Emerging Markets ETF (IEMG) and the SPDR Bloomberg Barclays High Yield Bond ETF (JNK), with inflows of $1.2 billion and $497 million, respectively.

Meanwhile, two gold-focused funds to garner interest from investors were the SPDR Gold Trust (GLD) and the VanEck Vectors Junior Gold Miners ETF (GDXJ), with creations of close to $400 million each. During the week, gold prices were close to unchanged, near $1,235/oz.

Huge Outflows For Dow Jones ETF
Despite this week's broad-based ETF buying, one ETF to see sizable outflows was the SPDR Dow Jones Industrial Average ETF (DIA). Its redemptions of $2 billion sent its total assets under management down by more than 10%. Still, year-to-date flows for DIA are in positive territory, to the tune of $530 million. 

Three sector funds to fall out of favor this week were the Utilities Select Setor SPDR Fund (XLU), the iShares U.S. Real Estate ETF (IYR) and the Materials Select Sector SPDR Fund (XLB), with outflows ranging from $140 million to $480 million.

Interestingly, the WisdomTree Europe Hedged Equity Fund (HEDJ), last year's biggest flows loser, had outflows of $130 million. For 2017 as a whole, the fund has seen outflows of $500 million already.

Finally, rounding out the bottom 10 were two oil products. The United States Oil Fund (USO) and the ProShares Ultra Bloomberg Crude Oil ETF (UCO) had outflows of around $80 million apiece during the week.

For a full list of this 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 Trust4,334.37233,434.341.89%
XLFFinancial Select Sector SPDR Fund1,349.8925,156.435.67%
IEMGiShares Core MSCI Emerging Markets ETF1,195.0923,522.875.35%
JNKSPDR Bloomberg Barclays High Yield Bond ETF497.2013,122.493.94%
XLPConsumer Staples Select Sector SPDR Fund494.038,217.506.40%
IJRiShares Core S&P Small Cap ETF453.1429,725.571.55%
IVViShares Core S&P 500 ETF446.8496,315.270.47%
GLDSPDR Gold Trust434.2333,201.141.33%
GDXJVanEck Vectors Junior Gold Miners ETF381.205,541.077.39%
IJHiShares Core S&P Mid-Cap ETF377.7238,576.600.99%

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
DIASPDR Dow Jones Industrial Average ETF Trust-2,031.9015,994.56-11.27%
QQQPowerShares QQQ Trust-700.4043,637.06-1.58%
XLUUtilities Select Sector SPDR Fund-474.426,275.88-7.03%
IYRiShares U.S. Real Estate ETF-191.583,914.41-4.67%
HYSPIMCO 0-5 Year High Yield Corporate Bond Index ETF-151.532,051.11-6.88%
XLBMaterials Select Sector SPDR Fund-142.213,878.69-3.54%
HEDJWisdomTree Europe Hedged Equity Fund-132.039,047.51-1.44%
TNADirexion Daily Small Cap Bull 3x Shares-86.65709.75-10.88%
USOUnited States Oil Fund LP-86.372,885.84-2.91%
UCOProShares Ultra Bloomberg Crude Oil-79.40798.59-9.04%

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity10,491.111,578,257.950.66%
International Equity3,662.69562,436.910.65%
U.S. Fixed Income2,606.75430,826.810.61%
International Fixed Income217.5742,337.610.51%
Commodities483.6664,455.350.75%
Currency-53.442,979.50-1.79%
Leveraged143.1926,571.000.54%
Inverse152.5516,840.170.91%
Asset Allocation14.126,618.970.21%
Alternatives138.533,949.133.51%
Total:17,856.732,735,273.400.65%

Top 10 Volume Surprises, Funds >$50 mm AUM

TickerNameAverage Volume
(30 Day)
1 Week Average
Volume
% of Average
FLCOFranklin Liberty Investment Grade Corporate ETF1,2186,651546.11%
FSTAFidelity MSCI Consumer Staples Index ETF100,933271,545269.03%
DBGRDeutsche X-trackers MSCI Germany Hedged Equity ETF24,50451,395209.74%
OILBiPath Series B S&P GSCI Crude Oil ETN5921,064179.69%
MLPCC-Tracks Miller/Howard MLP Fundamental ETN3,2156,011186.95%
DEFGuggenheim Defensive Equity ETF14,90237,917254.43%
SIZEiShares Edge MSCI USA Size Factor ETF14,86727,179182.81%
XMPTVanEck Vectors CEF Municipal Income ETF25,74955,279214.68%
IGNiShares North American Tech-Multimedia Networking ETF40,11078,924196.77%
EUFNiShares MSCI Europe Financials ETF895,2021,380,845154.25%

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

TickerNameWeekly PerformanceWeekly VolumeAUM ($, mm)
WBIYWBI Power Factor High Dividend ETF0.00%38,05122.12
COWZPacer U.S. Cash Cows 100 ETF0.00%41,1123.91
QXGGQuantX Risk Managed Growth ETF0.00%52,71957.26
INFRLegg Mason Global Infrastructure ETF0.00%1,1945.22
DWLDDavis Select Worldwide ETF0.00%116,47419.78
QXRRQuantX Risk Managed Real Return ETF0.00%5,2958.69
XUSAQuantX Dynamic Beta US Equity ETF0.00%16,38329.77
FLIOFranklin Liberty International Opportunities ETF0.00%120,0014.99
QXTRQuantX Risk Managed Multi-Asset Total Return ETF0.00%37,66967.82
XIElkhorn S&P MidCap Industrials Portfolio0.00%4,1051.56

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

TickerNameWeekly PerformanceWeekly VolumeAUM ($, mm)
WBIYWBI Power Factor High Dividend ETF0.00%38,05122.12
COWZPacer U.S. Cash Cows 100 ETF0.00%41,1123.91
QXGGQuantX Risk Managed Growth ETF0.00%52,71957.26
INFRLegg Mason Global Infrastructure ETF0.00%1,1945.22
DWLDDavis Select Worldwide ETF0.00%116,47419.78
QXRRQuantX Risk Managed Real Return ETF0.00%5,2958.69
XUSAQuantX Dynamic Beta US Equity ETF0.00%16,38329.77
FLIOFranklin Liberty International Opportunities ETF0.00%120,0014.99
QXTRQuantX Risk Managed Multi-Asset Total Return ETF0.00%37,66967.82
XIElkhorn S&P MidCap Industrials Portfolio0.00%4,1051.56

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.