Big Weekly Outflows From ETFs Except 'GLD'
U.S.-listed ETFs saw net outflows in the latest week, but there were notable winners such as 'GLD,' 'IYR' and others.
Renewed market volatility fueled big outflows from certain ETFs this week. The S&P 500 briefly hit a two-month low of 2,026 in the period, while the 10-year bond yield hit a one-month high around 1.89%.
On net, $1.9 billion flowed out of U.S.-listed ETFs in the week ending Thursday, May 19, according to FactSet data. However, the divergence in flows between equity and fixed income was stark.
A total of $4.4 billion flowed out of U.S. equity ETFs and $1.2 billion flowed out of international equity ETFs. In contrast, $2.3 billion flowed into U.S. fixed-income ETFs and $124 million flowed into international fixed-income ETFs.
GLD Tops Inflows List
Additionally, $762 million flowed into commodity products thanks to a $623 million inflow for the SPDR Gold Trust (GLD | A-100), which topped the creations list for individual ETFs.
Other big winners included the iShares U.S. Real Estate ETF (IYR | A-94), with inflows of $470 million; the iShares 7-10 Year Treasury Bond ETF (IEF | A-55), with inflows of $399 million; the iShares MSCI Min Vol USA ETF (USMV | A-69), with inflows of $319 million; and the ProShares Short S&P500 ETF (SH), with inflows of $305 million.
SPY Tops Outflows List
On the other end of the spectrum were broad-market equity ETFs such as the SPDR S&P 500 (SPY | A-97), which had substantial outflows on the week. SPY's outflows totaled $1.6 billion. That was followed by the iShares Russell 2000 ETF (IWM | A-91), with outflows of $1.5 billion; and the iShares MSCI Emerging Markets ETF (EEM | B-100), with outflows of $1.3 billion.
One notable loser in the fixed-income segment was the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD | A-77), which had outflows of $441 million.
For a full list of top inflows and outflows, see the tables below:
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| GLD | SPDR Gold Trust | 623.35 | 34,588.80 | 1.84% |
| IYR | iShares U.S. Real Estate ETF | 470.34 | 4,479.07 | 11.73% |
| IEF | iShares 7-10 Year Treasury Bond ETF | 398.77 | 9,909.01 | 4.19% |
| USMV | iShares Edge MSCI Min Vol USA ETF | 319.35 | 12,916.81 | 2.54% |
| SH | ProShares Short S&P500 | 304.98 | 2,948.98 | 11.53% |
| BIV | Vanguard Intermediate Term Bond Index Fund | 301.70 | 9,305.25 | 3.35% |
| VTV | Vanguard Value Index Fund | 247.99 | 20,355.05 | 1.23% |
| IEFA | iShares Core MSCI EAFE ETF | 235.36 | 11,421.26 | 2.10% |
| XLF | Financial Select Sector SPDR Fund | 232.61 | 16,248.17 | 1.45% |
| IVV | iShares Core S&P 500 ETF | 227.82 | 71,004.79 | 0.32% |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| SPY | SPDR S&P 500 ETF Trust | -1,611.92 | 180,286.40 | -0.89% |
| IWM | iShares Russell 2000 ETF | -1,468.94 | 23,258.62 | -5.94% |
| EEM | iShares MSCI Emerging Markets ETF | -1,323.21 | 22,467.01 | -5.56% |
| VOO | Vanguard S&P 500 Index Fund | -813.25 | 43,125.37 | -1.85% |
| QQQ | PowerShares QQQ Trust | -629.94 | 34,748.55 | -1.78% |
| LQD | iShares iBoxx $ Investment Grade Corporate Bond ETF | -441.13 | 28,389.02 | -1.53% |
| XLV | Health Care Select Sector SPDR Fund | -390.84 | 11,794.60 | -3.21% |
| XLK | Technology Select Sector SPDR Fund | -249.39 | 12,264.06 | -1.99% |
| XLI | Industrial Select Sector SPDR Fund | -244.00 | 6,691.87 | -3.52% |
| XLY | Consumer Discretionary Select Sector SPDR Fund | -229.65 | 10,082.68 | -2.23% |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | -4,428.84 | 1,198,429.77 | -0.37% |
| International Equity | -1,214.40 | 468,236.71 | -0.26% |
| U.S. Fixed Income | 2,325.30 | 373,319.79 | 0.62% |
| International Fixed Income | 124.44 | 32,836.46 | 0.38% |
| Commodities | 761.88 | 65,649.49 | 1.16% |
| Currency | -4.25 | 1,217.00 | -0.35% |
| Leveraged | -96.74 | 23,840.53 | -0.41% |
| Inverse | 626.78 | 20,638.03 | 3.04% |
| Asset Allocation | 13.99 | 5,717.53 | 0.24% |
| Alternatives | -0.84 | 4,038.98 | -0.02% |
| Total: | -1,892.67 | 2,193,924.30 | -0.09% |
Top 10 Volume Surprises, Funds >$50 mm AUM
| Ticker | Name | Average Volume (30 Day) | 1 Week Average Volume | % of Average |
| KIE | SPDR S&P Insurance ETF | 222,034 | 808,043 | 363.93% |
| DTYS | iPath US Treasury 10-Year Bear ETN | 28,896 | 101,484 | 351.20% |
| FIBR | iShares Edge U.S. Fixed Income Balanced Risk ETF | 472 | 1,608 | 340.45% |
| VFH | Vanguard Financials Index Fund | 586,093 | 1,703,947 | 290.73% |
| MVV | ProShares Ultra MidCap400 | 42,531 | 119,436 | 280.82% |
| PSP | PowerShares Global Listed Private Equity Portfolio | 174,988 | 380,128 | 217.23% |
| IEMG | iShares Core MSCI Emerging Markets ETF | 5,669,239 | 12,503,834 | 220.56% |
| KLD | iShares MSCI USA ESG Select ETF | 10,810 | 26,749 | 247.45% |
| ZMLP | Direxion Zacks MLP High Income Shares | 20,899 | 37,798 | 180.86% |
| DBKO | Deutsche X-trackers MSCI South Korea Hedged Equity ETF | 80,002 | 125,402 | 156.75% |
Disclaimer: All data is from FactSet, 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.
