Econ Fears Spark $4B Weekly ETF Outflows
Investors pulled money out of ETFs during the first week of October.
Investors took a pause from adding to their ETFs after a stellar September. On net, $4 billion flowed out of U.S.-listed ETFs this week after a pair of economic surveys from the Institute for Supply Management raised recession concerns. Nevertheless, expectations of another rate cut by the Federal Reserve kept losses in check.
Following this week’s outflows, year-to-date net inflows now stand at $193 billion, compared to $209.9 billion at this same time last year.
‘SPY’ Leads Outflows
This week’s outflows were mostly driven by U.S. equity ETFs, which registered redemptions of $5.8 billion. The SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ) fared the worst, partially offset by solid inflows for the iShares Edge MSCI Min Vol U.S.A. ETF (USMV) and the iShares Edge MSCI U.S.A. Quality Factor ETF (QUAL).
Meanwhile, fixed income ETFs gathered more assets this week—$2 billion—bringing their 2019 haul to just shy of $100 billion. The iShares U.S. Treasury Bond ETF (GOVT) and the iShares Intermediate-Term Corporate Bond ETF (IGIB) were the biggest fixed income flows winners of the week.
For a full list of this week’s top inflows and outflows, see the tables below:
Top 10 Creations (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
USMV | iShares Edge MSCI Min Vol U.S.A. ETF | 694.70 | 34,754.11 | 2.00% |
GOVT | iShares U.S. Treasury Bond ETF | 674.87 | 14,580.64 | 4.63% |
QUAL | iShares Edge MSCI U.S.A. Quality Factor ETF | 636.39 | 12,016.63 | 5.30% |
XLP | Consumer Staples Select Sector SPDR Fund | 546.16 | 14,032.03 | 3.89% |
VTI | Vanguard Total Stock Market ETF | 502.04 | 119,059.15 | 0.42% |
IVV | iShares Core S&P 500 ETF | 482.70 | 181,244.13 | 0.27% |
XLU | Utilities Select Sector SPDR Fund | 396.37 | 11,511.40 | 3.44% |
IGIB | iShares Intermediate-Term Corporate Bond ETF | 329.31 | 8,465.97 | 3.89% |
VIG | Vanguard Dividend Appreciation ETF | 284.06 | 37,612.29 | 0.76% |
BND | Vanguard Total Bond Market ETF | 278.43 | 45,671.15 | 0.61% |
Top 10 Redemptions (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
SPY | SPDR S&P 500 ETF Trust | -4,449.86 | 262,931.45 | -1.69% |
QQQ | Invesco QQQ Trust | -2,033.02 | 71,605.26 | -2.84% |
IWM | iShares Russell 2000 ETF | -2,009.69 | 41,366.64 | -4.86% |
EMB | iShares JP Morgan USD Emerging Markets Bond ETF | -845.01 | 13,957.90 | -6.05% |
XLI | Industrial Select Sector SPDR Fund | -605.47 | 9,149.36 | -6.62% |
LQD | iShares iBoxx USD Investment Grade Corporate Bond ETF | -597.59 | 35,658.25 | -1.68% |
SCHO | Schwab Short-Term U.S. Treasury ETF | -510.93 | 5,426.46 | -9.42% |
MTUM | iShares Edge MSCI U.S.A. Momentum Factor ETF | -380.66 | 9,513.65 | -4.00% |
XLF | Financial Select Sector SPDR Fund | -335.82 | 21,161.04 | -1.59% |
KRE | SPDR S&P Regional Banking ETF | -264.65 | 1,691.99 | -15.64% |
ETF Weekly Flows By Asset Class
Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
U.S. Equity | -5,818.28 | 2,235,545.42 | -0.26% |
International Equity | -79.81 | 783,431.69 | -0.01% |
U.S. Fixed Income | 1,958.27 | 726,878.52 | 0.27% |
International Fixed Income | -795.52 | 83,021.32 | -0.96% |
Commodities | 235.68 | 80,474.90 | 0.29% |
Currency | 21.64 | 1,503.12 | 1.44% |
Leveraged | 1,069.77 | 34,128.27 | 3.13% |
Inverse | -398.56 | 12,831.32 | -3.11% |
Asset Allocation | 21.09 | 10,024.97 | 0.21% |
Alternatives | -201.61 | 4,707.19 | -4.28% |
Total: | -3,987.33 | 3,972,546.72 | -0.10% |
Asset Classes (Year-to-Date)
Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
U.S. Equity | 75,918.87 | 2,235,545.42 | 3.40% |
International Equity | -3,428.52 | 783,431.69 | -0.44% |
U.S. Fixed Income | 99,503.84 | 726,878.52 | 13.69% |
International Fixed Income | 13,181.42 | 83,021.32 | 15.88% |
Commodities | 8,997.74 | 80,474.90 | 11.18% |
Currency | -286.23 | 1,503.12 | -19.04% |
Leveraged | -6,280.13 | 34,128.27 | -18.40% |
Inverse | 4,516.99 | 12,831.32 | 35.20% |
Asset Allocation | 274.26 | 10,024.97 | 2.74% |
Alternatives | 665.08 | 4,707.19 | 14.13% |
Total: | 193,063.33 | 3,972,546.72 | 4.86% |
Top 10 Volume Surprises, Funds >$50 mm AUM
Ticker | Name | Average Volume (30 Day) | 1 Week Average Volume | % of Average |
KOMP | SPDR S&P Kensho New Economies Composite ETF | 63,908 | 224,366 | 351.07% |
UOCT | Innovator S&P 500 Ultra Buffer ETF - October | 69,757 | 327,231 | 469.10% |
NORW | Global X MSCI Norway ETF | 30,353 | 86,265 | 284.20% |
HEZU | iShares Currency Hedged MSCI Eurozone ETF | 536,118 | 1,361,532 | 253.96% |
QUS | SPDR MSCI USA StrategicFactors ETF | 63,914 | 166,217 | 260.06% |
DGT | SPDR Global Dow ETF | 2,028 | 5,661 | 279.18% |
WPS | iShares International Developed Property ETF | 22,491 | 88,224 | 392.26% |
IEUS | iShares MSCI Europe Small-Cap ETF | 31,880 | 71,926 | 225.61% |
DBE | Invesco DB Energy Fund | 70,183 | 159,860 | 227.77% |
NANR | SPDR S&P North American Natural Resources ETF | 27,100 | 77,985 | 287.77% |
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
VIIX | VelocityShares Daily Long VIX Short-Term ETN | 8.31% | 421,483 | 26.19 |
VIXY | ProShares VIX Short-Term Futures ETF | 8.26% | 17,692,204 | 317.35 |
VXX | iPath Series B S&P 500 VIX Short Term Futures ETN | 8.14% | 202,284,211 | 983.55 |
EVIX | VelocityShares 1X Long VSTOXX Futures ETN | 7.43% | 14,809 | 2.37 |
BDRY | Breakwave Dry Bulk Shipping ETF | 6.29% | 10,141 | 2.00 |
VIXM | ProShares VIX Mid-Term Futures ETF | 3.60% | 418,234 | 51.33 |
VXZ | iPath Series B S&P 500 VIX Mid-Term Futures ETN | 3.20% | 71,069 | 22.83 |
JJG | iPath Series B Bloomberg Grains Subindex Total Return ETN | 2.83% | 6,796 | 21.15 |
SOYB | Teucrium Soybean Fund | 2.76% | 87,315 | 28.17 |
FUD | ETRACS UBS Bloomberg CMCI Food Total Return ETN | 2.53% | 76,888 | 3.15 |
Top 10 YTD Performers
Ticker | Name | YTD Performance | Weekly Performance | AUM ($, mm) |
INR | Market Vectors-Indian Rupee/USD ETN | 106.75% | -0.58% | 1.03 |
JJN | iPath Series B Bloomberg Nickel Subindex Total Return ETN | 65.83% | 2.33% | 8.96 |
TAN | Invesco Solar ETF | 54.12% | -2.12% | 427.81 |
ITB | iShares U.S. Home Construction ETF | 42.34% | -0.21% | 1,300.40 |
GOAU | U.S. Global GO Gold and Precious Metal Miners ETF | 37.60% | -0.92% | 33.73 |
RING | iShares MSCI Global Gold Miners ETF | 36.94% | -0.50% | 313.16 |
SRVR | Pacer Benchmark Data & Infrastructure Real Estate SCTR ETF | 36.71% | -1.25% | 124.39 |
INDS | Pacer Benchmark Industrial Real Estate SCTR ETF | 36.08% | -0.80% | 24.11 |
CHIS | Global X MSCI China Consumer Staples ETF | 35.26% | -0.25% | 2.00 |
XSD | SPDR S&P Semiconductor ETF | 35.07% | -2.65% | 326.21 |
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.