Bond ETFs Drive $23B Of Inflows

A hot inflation print buoys corporates.

DanMika200x200.jpg
|
Reviewed by: Dan Mika
,
Edited by: Dan Mika

U.S.-listed ETFs gained $22.6 billion in inflows in the period from Nov. 5 to Nov. 11, with fixed income inflows more than doubling week-over-week to offset a drop in equity inflows.

The U.S. ETF industry has now gained $761.7 million in year-to-date inflows, according to ETF.com data provider FactSet, and now has nearly $7.1 trillion in assets under management.

Broad Market Leads, Corporate Bonds Surge

Broad equity ETFs continued their dominant streak at the top of the highest-inflow ETFs on the week despite a higher than expected inflation reading on Wednesday.

The Vanguard S&P 500 ETF (VOO) led, with $1.6 billion in inflows, while the Invesco QQQ Trust (QQQ) followed, with $1.3 billion. The iShares Russell 2000 ETF (IWM), iShares Core S&P 500 ETF (IVV), Vanguard Total Stock Market ETF (VTI) and SPDR S&P 500 ETF Trust (SPY) gained a combined $3.5 billion on the week.

But three corporate bond ETFs appeared on the top 10 inflows chart this week with a combined $2.4 billion in new assets. The iShares iBoxx USD High Yield Corporate Bond ETF (HYG) and iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD) recovered from deep outflows last week to gain a combined $1.82 billion. While the -five-year breakeven inflation rate peaked past 3% this week, the bond market doesn’t appear to be that concerned over long-lasting inflation.

Tech Suffers

Technology-heavy ETFs took the brunt of the biggest outflows of the week, led by the Technology Select Sector SPDR Fund (XLK) losing $566 million and the ARK Innovation ETF (ARKK) losing nearly $506 million.

The latter was likely caused by Elon Musk selling 10% of his stake in Tesla after a majority of respondents to his Twitter poll last week told him to do it.

However, the spike in Treasury yields this week from the hot inflation print boded poorly for tech stocks, which tend to have higher valuations in low interest rate environments.

The VanEck Semiconductor ETF (SMH), Vanguard Information Technology ETF (VGT) and iShares Expanded Tech-Software Sector ETF (IGV) combined lost more than $1 billion during the period.

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
VOOVanguard S&P 500 ETF1,607.85273,279.270.59%
QQQInvesco QQQ Trust1,306.13207,517.420.63%
HYGiShares iBoxx USD High Yield Corporate Bond ETF1,255.9820,259.996.20%
NUGONuveen Growth Opportunities ETF1,015.292,897.7535.04%
IWMiShares Russell 2000 ETF967.0874,165.241.30%
IVViShares Core S&P 500 ETF913.02321,393.980.28%
VTIVanguard Total Stock Market ETF857.18288,247.870.30%
SPYSPDR S&P 500 ETF Trust763.53424,608.830.18%
JNKSPDR Bloomberg High Yield Bond ETF609.369,298.896.55%
LQDiShares iBoxx USD Investment Grade Corporate Bond ETF563.1138,425.451.47%

 

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
XLKTechnology Select Sector SPDR Fund-566.1147,969.49-1.18%
ARKKARK Innovation ETF-505.9620,817.39-2.43%
XLEEnergy Select Sector SPDR Fund-467.1526,999.56-1.73%
SMHVanEck Semiconductor ETF-388.756,667.29-5.83%
VGTVanguard Information Technology ETF-340.9154,032.14-0.63%
DIASPDR Dow Jones Industrial Average ETF Trust-325.4729,798.60-1.09%
IGViShares Expanded Tech-Software Sector ETF-287.376,357.18-4.52%
SOXLDirexion Daily Semiconductor Bull 3X Shares-285.544,792.20-5.96%
XOPSPDR S&P Oil & Gas Exploration & Production ETF-274.303,842.30-7.14%
EWJiShares MSCI Japan ETF-251.9312,509.74-2.01%

 

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity11,345.524,256,886.530.27%
International Equity3,761.571,327,138.510.28%
U.S. Fixed Income6,977.211,104,810.910.63%
International Fixed Income777.17150,939.630.51%
Commodities185.49142,009.550.13%
Currency281.503,435.388.19%
Leveraged-807.9172,637.61-1.11%
Inverse93.1112,353.450.75%
Asset Allocation104.1819,624.240.53%
Alternatives-101.667,138.02-1.42%
Total:22,616.197,096,973.850.32%

 

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity379,201.874,256,886.538.91%
International Equity187,151.851,327,138.5114.10%
U.S. Fixed Income151,831.111,104,810.9113.74%
International Fixed Income30,830.88150,939.6320.43%
Commodities-3,446.37142,009.55-2.43%
Currency1,701.603,435.3849.53%
Leveraged-44.9672,637.61-0.06%
Inverse6,532.5812,353.4552.88%
Asset Allocation4,724.1119,624.2424.07%
Alternatives3,221.107,138.0245.13%
Total:761,703.787,096,973.8510.73%

 

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

TickerNameWeekly PerformanceWeekly VolumeAUM ($, mm)
BITOProShares Bitcoin Strategy ETF7.77%25,107,0051,437.49
BTFValkyrie Bitcoin Strategy ETF7.64%1,827,72662.65
BUDXCannabis Growth ETF7.50%22,1675.01
CHIRGlobal X MSCI China Real Estate ETF6.84%80,8965.34
GRNiPath Series B Carbon ETN5.78%224,87583.68
KCCAKraneShares California Carbon Allowance ETF5.12%342,7303.67
KRBNKraneShares Global Carbon ETF5.06%1,832,9871,191.69
SGDMSprott Gold Miners ETF5.05%96,454246.04
KEUAKraneShares European Carbon Allowance ETF4.93%5,80867.01
POTXGlobal X Cannabis ETF4.92%1,311,564123.00

 

Top 10 YTD Performers

TickerNameYTD PerformanceWeekly PerformanceAUM ($, mm)
BDRYBreakwave Dry Bulk Shipping ETF194.81%-1.52%59.81
URNMNorth Shore Global Uranium Mining ETF125.36%1.02%1,008.36
FCGFirst Trust Natural Gas ETF109.95%-3.52%533.48
JJTiPath Series B Bloomberg Tin Subindex Total Return ETN107.74%-0.86%16.62
PXEInvesco Dynamic Energy Exploration & Production ETF105.93%-2.96%146.28
GRNiPath Series B Carbon ETN94.41%5.78%83.68
URAGlobal X Uranium ETF90.50%0.38%1,503.22
PXIInvesco DWA Energy Momentum ETF89.93%-3.45%105.38
PSCEInvesco S&P SmallCap Energy ETF87.03%-3.51%152.93
XOPSPDR S&P Oil & Gas Exploration & Production ETF83.47%-3.35%3,842.30

 

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.

Dan Mika is a reporter for etf.com. He has previously covered business for the Ames Tribune and Cedar Rapids Gazette in Iowa, and BizWest Media in Fort Collins, Colorado. Dan holds a bachelor's degree in journalism from Truman State University.