DRAM Powers Another Big Week of ETF Inflows
Investors poured $39.6 billion into US-listed ETFs last week, but the standout was the Roundhill Memory ETF (DRAM), which hauled in $2.7 billion on its own.
Investors added $39.6 billion to US-listed ETFs during the week ending Friday, May 8, according to data from FactSet. Year-to-date inflows now stand at more than $675 billion.
Of last week's inflows, $16.3 billion headed into US equity funds, $7.2 billion went into international equity funds, and $10 billion went into US fixed income funds.
The SPDR S&P 500 ETF Trust (SPY) and the Vanguard S&P 500 ETF (VOO) topped the list with inflows of $4.2 billion and $2.7 billion, respectively, as the market zoomed to fresh record highs despite continued tensions between the US and Iran. But the bigger story was the $2.7 billion that surged into the Roundhill Memory ETF (DRAM).
As the table at the bottom of this article shows, DRAM had just under $6 billion in AUM at the end of last week. As of this writing, that number is probably closer to $7 billion. The combination of massive inflows and price appreciation has helped the fund become one of the fastest-growing ETFs of all time. Since its debut on April 2, the price of the ETF has essentially doubled thanks to the surge in memory stocks on the back of the AI boom.
Speaking of fastest-growing ETFs of all time, the iShares Bitcoin Trust ETF (IBIT), which broke many records after its launch, pulled in $908 million last week. Bitcoin prices attempted to claw their way out of their hole, topping $80,000 for the first time since January.
On the outflows side of the ledger, names included the Invesco QQQ Trust (QQQ), which shed $3.8 billion, the VanEck Semiconductor ETF (SMH), which shed $2.2 billion, and the Direxion Daily Semiconductor Bull 3X Shares (SOXL), which lost $964 million.
SMH has benefited from similar AI infrastructure tailwinds as DRAM, though it holds a very different portfolio. Same with SOXL, a leveraged fund focused on semis. In contrast to DRAM, investors seem to be taking profits on those funds after the big rally. Likewise for QQQ, which has gone straight up since its March 31 low.
Overall, it was a great week for ETFs in terms of flows, mirroring the strong performance of the markets. See the tables below for the full list of top inflows and outflows from last week.
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change< |
| SPY | SPDR S&P 500 ETF Trust | 4,236.82 | 755,649.00 | 0.56 |
| VOO | Vanguard S&P 500 ETF | 2,742.24 | 947,150.03 | 0.29 |
| DRAM | Roundhill Memory ETF | 2,682.03 | 5,954.45 | 45.04 |
| SGOV | iShares 0-3 Month Treasury Bond ETF | 2,625.87 | 86,924.82 | 3.02 |
| VXUS | Vanguard Total International Stock ETF | 1,705.71 | 149,663.47 | 1.14 |
| QQQM | Invesco NASDAQ 100 ETF | 1,615.97 | 88,136.98 | 1.83 |
| DIA | SPDR Dow Jones Industrial Average ETF Trust | 1,190.14 | 43,985.03 | 2.71 |
| VTI | Vanguard Total Stock Market ETF | 1,120.00 | 635,918.31 | 0.18 |
| XLK | Technology Select Sector SPDR Fund | 909.99 | 110,827.38 | 0.82 |
| IBIT | iShares Bitcoin Trust ETF | 907.90 | 65,783.82 | 1.38 |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change |
| QQQ | Invesco QQQ Trust Series I | -3,813.21 | 453,824.17 | -0.84 |
| SMH | VanEck Semiconductor ETF | -2,211.06 | 60,641.51 | -3.65 |
| LQD | iShares iBoxx $ Investment Grade Corporate Bond ETF | -1,976.72 | 29,461.74 | -6.71 |
| TQQQ | ProShares UltraPro QQQ | -1,408.10 | 32,926.88 | -4.28 |
| EWY | iShares MSCI South Korea ETF | -1,049.73 | 22,949.56 | -4.57 |
| SOXL | Direxion Daily Semiconductor Bull 3x Shares | -963.60 | 19,239.66 | -5.01 |
| XLF | Financial Select Sector SPDR Fund | -813.59 | 50,638.82 | -1.61 |
| IWF | iShares Russell 1000 Growth ETF | -789.06 | 127,493.92 | -0.62 |
| IWD | iShares Russell 1000 Value ETF | -772.93 | 73,428.94 | -1.05 |
| EWJ | iShares MSCI Japan ETF | -632.18 | 20,426.42 | -3.09 |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| Alternatives | 1,242.68 | 129,335.99 | 0.96% |
| Asset Allocation | 213.43 | 39,818.40 | 0.54% |
| Commodities E T Fs | 572.62 | 372,468.29 | 0.15% |
| Currency | 1,667.40 | 130,806.74 | 1.27% |
| International Equity | 7,165.55 | 2,757,171.07 | 0.26% |
| International Fixed Income | 3,272.56 | 415,062.98 | 0.79% |
| Inverse | 790.74 | 15,453.07 | 5.12% |
| Leveraged | -1,603.15 | 178,636.74 | -0.90% |
| Us Equity | 16,338.82 | 9,083,101.81 | 0.18% |
| Us Fixed Income | 9,964.25 | 2,059,228.27 | 0.48% |
| Total: | 39,624.90 | 15,181,083.36 | 0.26% |
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.
