Dow Jones & Health Care ETFs Fuel $10B Weekly Inflows

The stampede into U.S.-listed ETFs continued in the latest week as investors bought up 'DIA,' 'XLV' and 'GLD.'

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

The influx of money into ETFs continued in the latest week as U.S. stock markets hit record highs. In total, $10.3 billion flowed into U.S.-listed exchange-traded funds in the week ending Thursday, Feb. 9, according to FactSet.

The money flowed relatively evenly into the various asset classes. U.S. equity ETFs had inflows of $2.3 billion; international equity ETFs had inflows of $3.3 billion; U.S. fixed-income ETFs had inflows of $3.1 billion; international equity ETFs had inflows of $640 million; and commodity ETFs had inflows of $1.1 billion.

On Friday, the S&P 500 hit a record high of above 2,319, putting the index up 3.8% for the year. Meanwhile, the 10-year bond yield sagged about 6 basis points week-over-week to last trade around 2.4%, and the U.S. Dollar Index rebounded about 1% in the period from its lowest levels of the year. 

DIA, XLV & GLD Top Inflows List

When it comes to individual ETFs, the SPDR Dow Jones Industrial Average ETF (DIA) swooped in to take the No. 1 spot for the week. Its inflows of $1.1 billion represented a 6.6% increase in its assets under management. So far this year, the fund has seen $2.6 billion worth of inflows; since the election on Nov. 8, its inflows are an even-more-impressive $4.5 billion.

At the No. 2 position was the Health Care Select Sector SPDR Fund (XLV), which took in $970 million, representing a hefty 6.8% jump in total assets. The only sector to finish down last year, health care may be seeing some bargain buying by investors now. 

A few other sector ETFs to make the weekly top 10 flows list are the Industrial Select Sector SPDR Fund (XLI) and the Utilities Select Sector SPDR Fund (XLU), with inflows of $470 million and $380 million, respectively.

The SPDR Gold Trust (GLD) was another interesting fund to find itself on this week's list. Its $850 million of inflows were enough to push the fund's year-to-date inflows total into positive territory. GLD now has about $460 million worth of creations for 2017 as a whole.

During the week, gold prices rallied as high as $1,245 and were last trading 7% higher on the year.

Profit-Taking In SPY & IWM

On the outflows side, two giants topped the list. The SPDR S&P 500 ETF (SPY) and the iShares Russell 2000 ETF (IWM) had redemptions of more than $2.1 billion each, likely due to profit-taking. 

A pair of sector ETFs also saw selling. The Consumer Staples Sector SPDR Fund (XLP) and the iShares U.S. Real Estate ETF (IYR) had outflows of $600 million and $130 million, respectively.

Three other interesting funds to see notable outflows were the iShares MSCI Canada ETF (EWC), the iShares National Muni Bond ETF (MUB) and the iShares Edge MSCI Min Vol USA ETF (USMV), with redemptions ranging from $128 million to $192 million. 

Finally, rounding out the outflows list was the Direxion Daily Gold Miners Index Bull 3x Shares (NUGT). It had outflows of $128 million, or 5.8% of AUM, during the week.

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
DIASPDR Dow Jones Industrial Average ETF Trust1,083.2717,525.586.59%
XLVHealth Care Select Sector SPDR Fund971.1415,183.196.83%
LQDiShares iBoxx $ Investment Grade Corporate Bond ETF935.4929,643.643.26%
GLDSPDR Gold Trust851.7233,245.952.63%
IEMGiShares Core MSCI Emerging Markets ETF710.3821,852.353.36%
VEAVanguard FTSE Developed Markets ETF704.0243,386.151.65%
XLIIndustrial Select Sector SPDR Fund470.7510,772.424.57%
EMBiShares JP Morgan USD Emerging Markets Bond ETF437.508,654.065.32%
VTIVanguard Total Stock Market Index Fund432.5472,860.620.60%
XLUUtilities Select Sector SPDR Fund378.386,797.285.89%

 

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
SPYSPDR S&P 500 ETF Trust-2,278.84223,549.61-1.01%
IWMiShares Russell 2000 ETF-2,101.7435,652.66-5.57%
XLPConsumer Staples Select Sector SPDR Fund-599.937,614.87-7.30%
HYGiShares iBoxx $ High Yield Corporate Bond ETF-472.1017,903.00-2.57%
QQQPowerShares QQQ Trust-467.3243,403.41-1.07%
EWCiShares MSCI Canada ETF-191.763,541.30-5.14%
MUBiShares National Muni Bond ETF-130.257,992.65-1.60%
USMViShares Edge MSCI Min Vol USA ETF-128.6212,055.42-1.06%
IYRiShares U.S. Real Estate ETF-128.014,079.90-3.04%
NUGTDirexion Daily Gold Miners Index Bull 3x Shares-127.702,073.75-5.80%

 

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity2,321.161,530,572.100.15%
International Equity3,280.52550,934.350.60%
U.S. Fixed Income3,135.08430,206.600.73%
International Fixed Income637.5542,188.401.51%
Commodities1,065.1364,452.751.65%
Currency-78.442,982.82-2.63%
Leveraged-225.5025,727.62-0.88%
Inverse151.8716,824.120.90%
Asset Allocation5.656,559.980.09%
Alternatives-0.873,899.04-0.02%
Total:10,292.152,674,347.760.38%

 

Top 10 Volume Surprises, Funds >$50 mm AUM

TickerNameAverage Volume
(30 Day)
1 Week Average
Volume
% of Average
PBDPowershares Global Clean Energy Portfolio17,23762,294361.40%
PSTProShares UltraShort 7-10 Year Treasury45,410117,784259.38%
ZMLPDirexion Zacks MLP High Income Index Shares22,99050,782220.89%
VMBSVanguard Mortgage-Backed Securities Index Fund477,988980,435205.12%
XHESPDR S&P Health Care Equipment ETF21,95258,008264.25%
FRAKVanEck Vectors Unconventional Oil & Gas ETF50,210144,178287.15%
EESWisdomTree SmallCap Earnings Fund12,69939,287309.37%
FBNDFidelity Total Bond ETF64,602121,956188.78%
SPYXSPDR S&P 500 Fossil Fuel Reserves Free ETF6,79811,777173.24%
KBWBPowerShares KBW Bank Portfolio432,9451,195,281276.08%

 

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.