$7.2B Flows Into Int'l Equity ETFs During Week

Sumit Roy

Senior ETF Analyst

May 12, 2017

Reviewed by: Sumit Roy

Edited by: Sumit Roy

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[Editor's Note: An earlier version of this story included an incorrect YTD top performers table. We are working to correct that.]

Investors continued to pile into international equity ETFs this week, helping to offset modest outflows from U.S. equity ETFs. According to the latest data from FactSet, investors added a grand total of $6.2 billion to U.S.-listed ETFs in the week ending Thursday, May 11. Year-to-date flows now stand at $177.6 billion.

On a segment-by-segment basis, international equity ETFs had the bulk of inflows, at $7.2 billion. That was followed by inflows of $525 million into U.S. fixed-income ETFs, inflows of $207 million into international fixed-income ETfs, and inflows of $40 million into commodity ETFs.

In contrast, U.S. equity ETFs had outflows for a second-straight week to the tune of $2 billion. The S&P 500 tested its all-time high near 2,400 a few times during the period, but ultimately ended the period modestly lower.

Meanwhile, the U.S. 10-year bond yield fluctuated between 2.3% and 2.4% during the week before last trading around 2.33%.

International ETFs Dominate
Out of the ETFs with the top 10 creations this week, eight of them were international equity funds. The only U.S.-focused names on the list were the iShares Core S&P 500 ETF (IVV), with inflows of $313 million; and the Consumer Discretionary Select Sector SPDR Fund (XLY), with inflows of $304 million.

Outside of that, investors were focused on broad international developed-market ETFs, Europe ETFs and emerging market ETFs.

The broad international funds on the list included the iShares MSCI EAFE ETF (EFA), with inflows of $1.3 billion; the iShares Core MSCI EAFE ETF (IEFA), with inflows of $483 million; and the Vanguard FTSE Developed Markets ETF (VEA), with inflows of $409 million.

The Europe funds that were in favor were the iShares MSCI Eurozone ETF (EZU), with creations of $837 million; and the Vanguard FTSE Europe ETF (VGK), with creations of $275 million.

Rounding out the top 10 was a pair of emerging market funds―the iShares Core MSCI Emerging Markets ETF (IEMG) and the Vanguard FTSE Emerging Markets ETF (VWO)―with inflows of $737 and $275 million, respectively.

High-Yield Bond ETF Leads Outflows
In contrast to the inflows list, the outflows list was chock-full of U.S. ETFs. The iShares iBoxx $ High Yield Corporate Bond ETF (HYG) was the biggest loser, with redemptions of $1.4 billion. The rival SPDR Bloomberg Barclays High Yield Bond ETF (JNK) also fell out of favor, with outflows of $295 million.

Most of the other names on the list were broad U.S. equity funds, such as the iShares Russell 2000 ETF (IWM) and the iShares Russell 1000 Value ETF (IWD)―and sector funds such as the iShares U.S. Real Estate ETF (IYR) and the Consumer Staples Select Sector SPDR Fund (XLP).

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
EFA	iShares MSCI EAFE ETF	1,323.70	71,978.98	1.87%
EZU	iShares MSCI Eurozone ETF	836.51	11,806.60	7.63%
IEMG	iShares Core MSCI Emerging Markets ETF	737.43	30,018.33	2.52%
IEFA	iShares Core MSCI EAFE ETF	483.30	25,217.95	1.95%
VEA	Vanguard FTSE Developed Markets ETF	408.64	51,948.64	0.79%
SCZ	iShares MSCI EAFE Small-Cap ETF	377.75	8,061.74	4.92%
IVV	iShares Core S&P 500 ETF	312.67	110,779.61	0.28%
XLY	Consumer Discretionary Select Sector SPDR Fund	303.56	12,885.97	2.41%
VWO	Vanguard FTSE Emerging Markets ETF	275.00	54,027.91	0.51%
VGK	Vanguard FTSE Europe ETF	274.70	13,000.76	2.16%

Top 10 Redemptions (All ETFs)

Ticker	Name	Net Flows ($,mm)	AUM ($, mm)	AUM % Change
HYG	iShares iBoxx $ High Yield Corporate Bond ETF	-1,373.54	17,292.77	-7.36%
IWM	iShares Russell 2000 ETF	-941.42	38,200.04	-2.41%
IWD	iShares Russell 1000 Value ETF	-373.68	37,004.90	-1.00%
SPY	SPDR S&P 500 ETF Trust	-301.73	231,874.88	-0.13%
JNK	SPDR Bloomberg Barclays High Yield Bond ETF	-295.02	11,213.14	-2.56%
IYR	iShares U.S. Real Estate ETF	-245.57	4,701.88	-4.96%
QQQ	PowerShares QQQ Trust	-235.22	50,540.78	-0.46%
DIA	SPDR Dow Jones Industrial Average ETF Trust	-230.21	16,107.57	-1.41%
XLP	Consumer Staples Select Sector SPDR Fund	-198.23	8,835.30	-2.19%
MDY	SPDR S&P Midcap 400 ETF Trust	-188.86	18,833.18	-0.99%

ETF Weekly Flows By Asset Class

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	-1,972.00	1,634,032.07	-0.12%
International Equity	7,208.90	633,793.72	1.14%
U.S. Fixed Income	525.19	454,317.30	0.12%
International Fixed Income	207.47	47,641.57	0.44%
Commodities	39.57	62,549.12	0.06%
Currency	-30.84	2,767.42	-1.11%
Leveraged	91.08	27,141.96	0.34%
Inverse	-115.61	17,216.26	-0.67%
Asset Allocation	10.78	6,946.34	0.16%
Alternatives	236.04	3,853.70	6.12%
Total:	6,200.58	2,890,259.45	0.21%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker	Name	Average Volume (30 Day)	1 Week Average Volume	% of Average
FNY	First Trust Mid Cap Growth AlphaDEX Fund	23,224	89,246	384.29%
BSCH	Guggenheim BulletShares 2017 Corporate Bond ETF	151,077	345,508	228.70%
DBEZ	Deutsche X-trackers MSCI Eurozone Hedged Equity ETF	30,574	67,692	221.40%
JKK	iShares Morningstar Small-Cap Growth ETF	2,636	5,697	216.10%
ADRD	BLDRS Developed Markets 100 ADR Index Fund	3,966	9,428	237.71%
GSLC	Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF	109,430	213,353	194.97%
FVC	First Trust Dorsey Wright Dynamic Focus 5 ETF	66,332	142,343	214.59%
BSCK	Guggenheim BulletShares 2020 Corporate Bond ETF	207,339	383,491	184.96%
JJC	iPath Bloomberg Copper Subindex Total Return ETN	46,818	76,217	162.79%
FNDF	Schwab Fundamental International Large Co. Index ETF	412,148	821,268	199.27%

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

Ticker	Name	Weekly Performance	Weekly Volume	AUM ($, mm)
ASHS	Deutsche X-trackers Harvest CSI 500 China-A Shares Small Cap ETF	4.88%	44,533	20.05
CNCR	Loncar Cancer Immunotherapy ETF	4.86%	58,651	31.99
TBLU	Tortoise Water Fund	4.33%	9,230	2.54
USV	ETRACS UBS Bloomberg CMCI Silver Total Return ETN	3.89%	1,049	3.76
SLIM	The Obesity ETF	3.67%	2,341	2.56
CSLS	Credit Suisse X-Links Long/Short Equity ETN	3.62%	8,525	13.63
CNXT	VanEck Vectors ChinaAMC SME-ChiNext ETF	3.55%	31,425	22.65
BAL	iPath Bloomberg Cotton Subindex Total Return ETN	3.48%	34,545	13.35
BBH	VanEck Vectors Biotech ETF	3.15%	90,916	665.50
CUPM	iPath Pure Beta Copper ETN	3.06%	1,551	0.63

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

Ticker	Name	Weekly Performance	Weekly Volume	AUM ($, mm)
PSCE	PowerShares S&P SmallCap Energy Portfolio	-6.79%	125,506	45.62
XES	SPDR S&P Oil & Gas Equipment & Services ETF	-6.59%	2,779,808	292.99
GAZ	iPath Bloomberg Natural Gas Subindex Total Return ETN	-6.03%	142,785	4.44
BRAQ	Global X Brazil Consumer ETF	-6.00%	9,560	6.31
XOP	SPDR S&P Oil & Gas Exploration & Production ETF	-5.98%	64,018,904	2,193.36
NIB	iPath Bloomberg Cocoa Subindex Total Return ETN	-5.78%	626,699	59.06
OIL	iPath S&P GSCI Crude Oil Total Return ETN	-5.68%	12,058,166	673.09
CHOC	iPath Pure Beta Cocoa ETN	-5.62%	15,838	5.07
FXN	First Trust Energy AlphaDEX Fund	-5.59%	3,395,993	345.99
PXI	PowerShares DWA Energy Momentum Portfolio	-5.59%	122,291	110.24

Bottom 10 YTD Performers

Ticker	Name	YTD Performance	Weekly Performance	AUM ($, mm)
XIVH	VelocityShares VIX Short Volatility Hedged ETN	-30.72%	-0.78%	53.68
SCIN	Columbia India Small Cap ETF	-28.72%	-2.48%	27.92
SCIF	VanEck Vectors India Small-Cap Index ETF	-28.41%	-2.13%	302.98
SMIN	iShares MSCI India Small Cap ETF	-26.92%	-1.34%	177.69
EMQQ	Emerging Markets Internet & Ecommerce ETF	-26.41%	-3.02%	62.71
KWEB	KraneShares CSI China Internet ETF	-25.64%	-4.67%	384.20
PLND	VanEck Vectors Poland ETF	-23.45%	1.60%	17.69
INXX	Columbia India Infrastructure ETF	-23.25%	-2.07%	51.94
EPOL	iShares MSCI Poland Capped ETF	-23.17%	1.26%	284.42
PGJ	PowerShares Golden Dragon China Portfolio	-23.15%	-4.39%	161.59

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

| Contact: [email protected]

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.

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$7.2B Flows Into Int'l Equity ETFs During Week

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