2nd Straight Week Of ETF Outflows
Big outflow from ‘SPY’ pushed weekly flows into the red.
Continued stock market volatility prompted investors to pull money out of ETFs for a second-straight week. According to FactSet, a net $4.4 billion came out of U.S.-listed ETFs during the week ending Thursday, Oct. 18, adding to previous week’s $2.9 billion of outflows.
Year-to-date inflows now stand at $201.8 billion.
Investors Flee ‘SPY’
Unlike last week, when investors actually added to their equity ETF holdings in the face of volatility, this week they ran for cover. Almost $10.6 billion flowed out of such funds, largely due to a massive $11.5 billion outflow from the SPDR S&P 500 ETF Trust (SPY).
Big swings were the norm this week, as the S&P 500 surged 2.2% on Tuesday, only to tumble 1.4% on Thursday.
Along with SPY, the Financial Select Sector SPDR Fund (XLF), the iShares Russell 2000 ETF (IWM) and the SPDR Dow Jones Industrial Average ETF Trust (DIA) topped the weekly outflows list.
Interest In Fixed Income
On the flip side, after a tough week last week, U.S. fixed-income ETFs managed to pull in $2.5 billion of new money this week despite nagging concerns about rising interest rates. The benchmark U.S. 10-year Treasury yield climbed from 3.14% to 3.2% during the period.
The iShares iBoxx USD High Yield Corporate Bond ETF (HYG) and the SPDR Bloomberg Barclays 1-3 Month T-Bill ETF (BIL) were among the fixed-income ETFs to see interest this week
At the same time, international equity ETFs garnered favor also. The group as a whole registered net inflow of $2.8 billion, led by the iShares Core MSCI Total International Stock ETF (IXUS) and the iShares MSCI Japan ETF (EWJ).
For a full list of this week’s top inflows and outflows, see the tables below:
Top 10 Creations (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
QQQ | Invesco QQQ Trust | 1,905.53 | 70,126.82 | 2.72% |
HYG | iShares iBoxx USD High Yield Corporate Bond ETF | 1,827.21 | 14,938.24 | 12.23% |
IXUS | iShares Core MSCI Total International Stock ETF | 1,075.80 | 11,865.84 | 9.07% |
EWJ | iShares MSCI Japan ETF | 649.02 | 17,624.92 | 3.68% |
BIL | SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | 448.34 | 4,460.57 | 10.05% |
GLD | SPDR Gold Trust | 389.70 | 29,582.14 | 1.32% |
IGV | iShares North American Tech-Software ETF | 389.58 | 2,247.95 | 17.33% |
USMV | iShares Edge MSCI Min Vol U.S.A. ETF | 366.22 | 16,768.57 | 2.18% |
ACWI | iShares MSCI ACWI ETF | 355.12 | 8,902.05 | 3.99% |
IVV | iShares Core S&P 500 ETF | 310.59 | 160,683.82 | 0.19% |
Top 10 Redemptions (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
SPY | SPDR S&P 500 ETF Trust | -11,454.11 | 264,375.29 | -4.33% |
XLF | Financial Select Sector SPDR Fund | -764.28 | 29,772.81 | -2.57% |
IWM | iShares Russell 2000 ETF | -639.94 | 47,208.30 | -1.36% |
DIA | SPDR Dow Jones Industrial Average ETF Trust | -597.50 | 22,354.56 | -2.67% |
XLK | Technology Select Sector SPDR Fund | -500.37 | 20,534.94 | -2.44% |
MDY | SPDR S&P Midcap 400 ETF Trust | -497.74 | 19,631.02 | -2.54% |
AMJ | J.P. Morgan Alerian MLP Index ETN | -436.65 | 3,237.97 | -13.49% |
XLE | Energy Select Sector SPDR Fund | -405.57 | 17,073.88 | -2.38% |
EFA | iShares MSCI EAFE ETF | -383.53 | 66,265.57 | -0.58% |
IBB | iShares NASDAQ Biotechnology ETF | -297.91 | 8,965.27 | -3.32% |
ETF Weekly Flows By Asset Class
Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
U.S. Equity | -10,589.47 | 2,081,260.73 | -0.51% |
International Equity | 2,768.32 | 760,654.37 | 0.36% |
U.S. Fixed Income | 2,486.98 | 561,397.50 | 0.44% |
International Fixed Income | -55.55 | 65,555.65 | -0.08% |
Commodities | 649.14 | 61,675.11 | 1.05% |
Currency | 7.84 | 1,105.03 | 0.71% |
Leveraged | 719.18 | 36,888.10 | 1.95% |
Inverse | -284.75 | 13,034.77 | -2.18% |
Asset Allocation | -7.06 | 9,207.03 | -0.08% |
Alternatives | -72.69 | 4,824.98 | -1.51% |
Total: | -4,378.05 | 3,595,603.27 | -0.12% |
Asset Classes (Year-to-Date)
Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
U.S. Equity | 88,487.00 | 2,081,260.73 | 4.25% |
International Equity | 40,770.13 | 760,654.37 | 5.36% |
U.S. Fixed Income | 54,759.51 | 561,397.50 | 9.75% |
International Fixed Income | 10,025.50 | 65,555.65 | 15.29% |
Commodities ETFs | -628.09 | 61,675.11 | -1.02% |
Currency | -77.47 | 1,105.03 | -7.01% |
Leveraged | 5,020.01 | 36,888.10 | 13.61% |
Inverse | 2,263.99 | 13,034.77 | 17.37% |
Asset Allocation | 677.28 | 9,207.03 | 7.36% |
Alternatives | 474.46 | 4,824.98 | 9.83% |
Total: | 201,772.32 | 3,595,603.27 | 5.61% |
Top 10 Volume Surprises, Funds >$50 mm AUM
Ticker | Name | Average Volume (30 Day) | 1 Week Average Volume | % of Average |
RIGS | RiverFront Strategic Income Fund | 143,758 | 916,359 | 637.43% |
DIVC | C-Tracks ETN - Miller/Howard Strategic Dividend Reinvestor | 57 | 350 | 617.65% |
ONEY | SPDR Russell 1000 Yield Focus | 5,655 | 29,186 | 516.09% |
TLH | iShares 10-20 Year Treasury Bond ETF | 67,590 | 301,061 | 445.43% |
SPYX | SPDR S&P 500 Fossil Fuel Reserves Free ETF | 10,690 | 34,095 | 318.93% |
JKH | iShares Morningstar Mid-Cap Growth ETF | 8,816 | 24,420 | 276.98% |
DVP | Deep Value ETF | 24,811 | 66,135 | 266.55% |
CSF | VictoryShares U.S. Discovery Enhanced Volatility Wtd Index ETF | 14,171 | 37,642 | 265.62% |
SIZE | iShares Edge MSCI U.S.A. Size Factor ETF | 6,857 | 15,069 | 219.75% |
CIZ | VictoryShares Developed Enhanced Volatility Wtd Index ETF | 22,494 | 46,442 | 206.47% |
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.