Econ Fears Spark $4B Weekly ETF Outflows

Investors pulled money out of ETFs during the first week of October.

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

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)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
USMViShares Edge MSCI Min Vol U.S.A. ETF694.7034,754.112.00%
GOVTiShares U.S. Treasury Bond ETF674.8714,580.644.63%
QUALiShares Edge MSCI U.S.A. Quality Factor ETF636.3912,016.635.30%
XLPConsumer Staples Select Sector SPDR Fund546.1614,032.033.89%
VTIVanguard Total Stock Market ETF502.04119,059.150.42%
IVViShares Core S&P 500 ETF482.70181,244.130.27%
XLUUtilities Select Sector SPDR Fund396.3711,511.403.44%
IGIBiShares Intermediate-Term Corporate Bond ETF329.318,465.973.89%
VIGVanguard Dividend Appreciation ETF284.0637,612.290.76%
BNDVanguard Total Bond Market ETF278.4345,671.150.61%

 

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
SPYSPDR S&P 500 ETF Trust-4,449.86262,931.45-1.69%
QQQInvesco QQQ Trust-2,033.0271,605.26-2.84%
IWMiShares Russell 2000 ETF-2,009.6941,366.64-4.86%
EMBiShares JP Morgan USD Emerging Markets Bond ETF-845.0113,957.90-6.05%
XLIIndustrial Select Sector SPDR Fund-605.479,149.36-6.62%
LQDiShares iBoxx USD Investment Grade Corporate Bond ETF-597.5935,658.25-1.68%
SCHOSchwab Short-Term U.S. Treasury ETF-510.935,426.46-9.42%
MTUMiShares Edge MSCI U.S.A. Momentum Factor ETF-380.669,513.65-4.00%
XLFFinancial Select Sector SPDR Fund-335.8221,161.04-1.59%
KRESPDR S&P Regional Banking ETF-264.651,691.99-15.64%

 

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity-5,818.282,235,545.42-0.26%
International Equity-79.81783,431.69-0.01%
U.S. Fixed Income1,958.27726,878.520.27%
International Fixed Income-795.5283,021.32-0.96%
Commodities 235.6880,474.900.29%
Currency21.641,503.121.44%
Leveraged1,069.7734,128.273.13%
Inverse-398.5612,831.32-3.11%
Asset Allocation21.0910,024.970.21%
Alternatives-201.614,707.19-4.28%
Total:-3,987.333,972,546.72-0.10%

 

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity75,918.872,235,545.423.40%
International Equity-3,428.52783,431.69-0.44%
U.S. Fixed Income99,503.84726,878.5213.69%
International Fixed Income13,181.4283,021.3215.88%
Commodities 8,997.7480,474.9011.18%
Currency-286.231,503.12-19.04%
Leveraged-6,280.1334,128.27-18.40%
Inverse4,516.9912,831.3235.20%
Asset Allocation274.2610,024.972.74%
Alternatives665.084,707.1914.13%
Total:193,063.333,972,546.724.86%

 

Top 10 Volume Surprises, Funds >$50 mm AUM

TickerNameAverage Volume
(30 Day)
1 Week Average
Volume
% of Average
KOMPSPDR S&P Kensho New Economies Composite ETF63,908224,366351.07%
UOCTInnovator S&P 500 Ultra Buffer ETF - October69,757327,231469.10%
NORWGlobal X MSCI Norway ETF30,35386,265284.20%
HEZUiShares Currency Hedged MSCI Eurozone ETF536,1181,361,532253.96%
QUSSPDR MSCI USA StrategicFactors ETF63,914166,217260.06%
DGTSPDR Global Dow ETF2,0285,661279.18%
WPSiShares International Developed Property ETF22,49188,224392.26%
IEUSiShares MSCI Europe Small-Cap ETF31,88071,926225.61%
DBEInvesco DB Energy Fund70,183159,860227.77%
NANRSPDR S&P North American Natural Resources ETF27,10077,985287.77%

 

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

TickerNameWeekly PerformanceWeekly VolumeAUM ($, mm)
VIIXVelocityShares Daily Long VIX Short-Term ETN8.31%421,48326.19
VIXYProShares VIX Short-Term Futures ETF8.26%17,692,204317.35
VXXiPath Series B S&P 500 VIX Short Term Futures ETN8.14%202,284,211983.55
EVIXVelocityShares 1X Long VSTOXX Futures ETN7.43%14,8092.37
BDRYBreakwave Dry Bulk Shipping ETF6.29%10,1412.00
VIXMProShares VIX Mid-Term Futures ETF3.60%418,23451.33
VXZiPath Series B S&P 500 VIX Mid-Term Futures ETN3.20%71,06922.83
JJGiPath Series B Bloomberg Grains Subindex Total Return ETN2.83%6,79621.15
SOYBTeucrium Soybean Fund2.76%87,31528.17
FUDETRACS UBS Bloomberg CMCI Food Total Return ETN2.53%76,8883.15

 

Top 10 YTD Performers

TickerNameYTD PerformanceWeekly PerformanceAUM ($, mm)
INRMarket Vectors-Indian Rupee/USD ETN106.75%-0.58%1.03
JJNiPath Series B Bloomberg Nickel Subindex Total Return ETN65.83%2.33%8.96
TANInvesco Solar ETF54.12%-2.12%427.81
ITBiShares U.S. Home Construction ETF42.34%-0.21%1,300.40
GOAUU.S. Global GO Gold and Precious Metal Miners ETF37.60%-0.92%33.73
RINGiShares MSCI Global Gold Miners ETF36.94%-0.50%313.16
SRVRPacer Benchmark Data & Infrastructure Real Estate SCTR ETF36.71%-1.25%124.39
INDSPacer Benchmark Industrial Real Estate SCTR ETF36.08%-0.80%24.11
CHISGlobal X MSCI China Consumer Staples ETF35.26%-0.25%2.00
XSDSPDR S&P Semiconductor ETF35.07%-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.

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.