2nd Straight Week Of ETF Outflows

Big outflow from ‘SPY’ pushed weekly flows into the red.

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

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)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
QQQInvesco QQQ Trust1,905.5370,126.822.72%
HYGiShares iBoxx USD High Yield Corporate Bond ETF1,827.2114,938.2412.23%
IXUSiShares Core MSCI Total International Stock ETF1,075.8011,865.849.07%
EWJiShares MSCI Japan ETF649.0217,624.923.68%
BILSPDR Bloomberg Barclays 1-3 Month T-Bill ETF448.344,460.5710.05%
GLDSPDR Gold Trust389.7029,582.141.32%
IGViShares North American Tech-Software ETF389.582,247.9517.33%
USMViShares Edge MSCI Min Vol U.S.A. ETF366.2216,768.572.18%
ACWIiShares MSCI ACWI ETF355.128,902.053.99%
IVViShares Core S&P 500 ETF310.59160,683.820.19%

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
SPYSPDR S&P 500 ETF Trust-11,454.11264,375.29-4.33%
XLFFinancial Select Sector SPDR Fund-764.2829,772.81-2.57%
IWMiShares Russell 2000 ETF-639.9447,208.30-1.36%
DIASPDR Dow Jones Industrial Average ETF Trust-597.5022,354.56-2.67%
XLKTechnology Select Sector SPDR Fund-500.3720,534.94-2.44%
MDYSPDR S&P Midcap 400 ETF Trust-497.7419,631.02-2.54%
AMJJ.P. Morgan Alerian MLP Index ETN-436.653,237.97-13.49%
XLEEnergy Select Sector SPDR Fund-405.5717,073.88-2.38%
EFAiShares MSCI EAFE ETF-383.5366,265.57-0.58%
IBBiShares NASDAQ Biotechnology ETF-297.918,965.27-3.32%

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity-10,589.472,081,260.73-0.51%
International Equity2,768.32760,654.370.36%
U.S. Fixed Income2,486.98561,397.500.44%
International Fixed Income-55.5565,555.65-0.08%
Commodities 649.1461,675.111.05%
Currency7.841,105.030.71%
Leveraged719.1836,888.101.95%
Inverse-284.7513,034.77-2.18%
Asset Allocation-7.069,207.03-0.08%
Alternatives-72.694,824.98-1.51%
Total:-4,378.053,595,603.27-0.12%

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity88,487.002,081,260.734.25%
International Equity40,770.13760,654.375.36%
U.S. Fixed Income54,759.51561,397.509.75%
International Fixed Income10,025.5065,555.6515.29%
Commodities ETFs-628.0961,675.11-1.02%
Currency-77.471,105.03-7.01%
Leveraged5,020.0136,888.1013.61%
Inverse2,263.9913,034.7717.37%
Asset Allocation677.289,207.037.36%
Alternatives474.464,824.989.83%
Total:201,772.323,595,603.275.61%

Top 10 Volume Surprises, Funds >$50 mm AUM

TickerNameAverage Volume
(30 Day)
1 Week Average
Volume
% of Average
RIGSRiverFront Strategic Income Fund143,758916,359637.43%
DIVCC-Tracks ETN - Miller/Howard Strategic Dividend Reinvestor57350617.65%
ONEYSPDR Russell 1000 Yield Focus5,65529,186516.09%
TLHiShares 10-20 Year Treasury Bond ETF67,590301,061445.43%
SPYXSPDR S&P 500 Fossil Fuel Reserves Free ETF10,69034,095318.93%
JKHiShares Morningstar Mid-Cap Growth ETF8,81624,420276.98%
DVPDeep Value ETF24,81166,135266.55%
CSFVictoryShares U.S. Discovery Enhanced Volatility Wtd Index ETF14,17137,642265.62%
SIZEiShares Edge MSCI U.S.A. Size Factor ETF6,85715,069219.75%
CIZVictoryShares Developed Enhanced Volatility Wtd Index ETF22,49446,442206.47%

 

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.

 

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.