ETF Weekly Flows Show Home Bias

In a short week, demand for U.S. equity and U.S. fixed income remained strong.

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Reviewed by: Cinthia Murphy
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Edited by: Cinthia Murphy

In a relatively short week due to the Labor Day holiday, investors poured a net of $3.24 billion into U.S.-listed ETFs. That’s only about a third of the total asset flows seen the week prior.

A look at the top net asset gainers in the past week show that demand was largely split into two asset classes: U.S. equity and U.S. fixed income.

Among the most popular funds were large, liquid and very-well-established strategies such as the Vanguard S&P 500 ETF (VOO), the iShares Core S&P 500 ETF (IVV) and the Invesco QQQ Trust (QQQ).

Strong Home Bias

In the aggregate, U.S. equity ETFs have now attracted roughly 41% of total net creations in 2018, as the stock market forges new highs and investors display strong home bias in the face of positive economic data pointing to a booming, growing economy.

For U.S. fixed income, demand also went on unabated this week—the segment has taken in a net of $55 billion so far this year. Funds like the iShares 20+ Year Treasury Bond ETF (TLT) and the iShares TIPS Bond ETF (TIP) led net creations.

On the flip side, gold continues to be lackluster. The SPDR Gold Trust (GLD) was again among the week’s biggest asset losers, having now bled a net of $3.46 billion in assets year-to-date. GLD has had a difficult time this year, as gold prices have dropped some 8.5%. Demand for the perceived safety of gold has been muted in the face of a strong stock market, strong dollar and rising rates.

The U.S. ETF market is ending this week with $3.691 trillion in total assets.

Top 10 Creations (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
VOOVanguard S&P 500 ETF3,898.15103,311.153.92%
IVViShares Core S&P 500 ETF2,953.86163,164.011.84%
TLTiShares 20+ Year Treasury Bond ETF1,247.938,737.5416.66%
TIPiShares TIPS Bond ETF412.9424,243.861.73%
QQQInvesco QQQ Trust412.4372,717.990.57%
XLKTechnology Select Sector SPDR Fund325.0423,026.351.43%
MINTPIMCO Enhanced Short Maturity Active ETF269.8810,371.232.67%
DIASPDR Dow Jones Industrial Average ETF Trust246.8221,975.601.14%
IVEiShares S&P 500 Value ETF214.5915,228.981.43%
XLEEnergy Select Sector SPDR Fund164.1617,883.730.93%

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
SPYSPDR S&P 500 ETF Trust-6,494.42271,980.94-2.33%
LQDiShares iBoxx USD Investment Grade Corporate Bond ETF-614.8733,595.70-1.80%
HYGiShares iBoxx USD High Yield Corporate Bond ETF-454.4216,730.53-2.64%
GLDSPDR Gold Trust-420.7128,725.78-1.44%
JNKSPDR Bloomberg Barclays High Yield Bond ETF-340.069,380.70-3.50%
IJRiShares Core S&P Small Cap ETF-248.2247,578.25-0.52%
EWPiShares MSCI Spain ETF-237.33869.78-21.44%
SHViShares Short Treasury Bond ETF-154.4915,143.02-1.01%
SOXXiShares PHLX Semiconductor ETF-143.171,889.79-7.04%
XBISPDR S&P BIOTECH ETF-140.305,794.28-2.36%

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity2,810.862,157,258.800.13%
International Equity-514.10778,470.89-0.07%
U.S. Fixed Income1,323.43568,363.650.23%
International Fixed Income204.5563,353.030.32%
Commodities -331.2458,859.62-0.56%
Currency-11.131,090.98-1.02%
Leveraged-107.5136,891.87-0.29%
Inverse-123.5712,864.84-0.96%
Asset Allocation-17.979,422.28-0.19%
Alternatives9.814,667.100.21%
Total:3,243.133,691,243.070.09%

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity72,838.372,157,258.803.38%
International Equity35,680.59778,470.894.58%
U.S. Fixed Income55,006.68568,363.659.68%
International Fixed Income8,008.2663,353.0312.64%
Commodities -1,654.3558,859.62-2.81%
Currency-93.311,090.98-8.55%
Leveraged2,814.7236,891.877.63%
Inverse2,469.9812,864.8419.20%
Asset Allocation629.999,422.286.69%
Alternatives433.694,667.109.29%
Total:176,134.593,691,243.074.77%

Top 10 Volume Surprises, Funds >$50 mm AUM

TickerNameAverage Volume
(30 Day)
1 Week Average
Volume
% of Average
PDNInvesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF55,491370,557667.78%
PXFInvesco FTSE RAFI Developed Markets ex-U.S. ETF168,110844,182502.16%
PXHInvesco FTSE RAFI Emerging Markets ETF304,1741,356,589445.99%
WBIAWBI BullBear Rising Income 2000 ETF14,27461,422430.31%
EBNDSPDR Bloomberg Barclays Emerging Markets Local Bond ETF331,7821,591,866479.79%
WBIYWBI Power Factor High Dividend ETF96,007390,461406.70%
WBIEWBI BullBear Rising Income 1000 ETF34,894130,984375.38%
PXIInvesco DWA Energy Momentum ETF28,343182,141642.64%
WBILWBI BullBear Quality 1000 ETF24,15377,886322.47%
WBIFWBI BullBear Value 1000 ETF25,62781,647318.60%

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

TickerNameWeekly PerformanceWeekly VolumeAUM ($, mm)
MJETFMG Alternative Harvest ETF4.84%2,752,556500.36
SGGBiPath Series B Bloomberg Sugar Subindex Total Return ETN2.33%40,90026.01
BJOiPath Series B Bloomberg Coffee Subindex Total Return ETN1.93%177,87359.39
YMLIVanEck Vectors High Income Infrastructure MLP ETF1.92%13,33422.55
EWIiShares MSCI Italy ETF1.88%2,701,240410.47
PMRInvesco Dynamic Retail ETF1.85%3,36112.74
XLUUtilities Select Sector SPDR Fund1.85%39,290,4457,699.21
RYUInvesco S&P 500 Equal Weight Utilities ETF1.73%10,423148.40
VPUVanguard Utilities ETF1.72%237,6832,859.64
IDUiShares U.S. Utilities ETF1.71%78,458627.88

Top 10 YTD Performers

TickerNameYTD PerformanceWeekly PerformanceAUM ($, mm)
PSCHInvesco S&P SmallCap Health Care ETF45.65%-0.48%1,288.84
XWEBSPDR S&P Internet ETF40.54%-2.33%57.26
XHESPDR S&P Health Care Equipment ETF35.34%-1.16%727.50
PSJInvesco Dynamic Software ETF34.20%-2.37%274.80
PTHInvesco DWA Healthcare Momentum ETF33.18%-1.41%318.45
ARKGARK Genomic Revolution Multi-Sector ETF32.99%-2.00%301.68
XITKSPDR FactSet Innovative Technology ETF31.08%-2.43%66.63
XSWSPDR S&P Software & Services ETF30.27%-1.63%121.03
FINXGlobal X FinTech ETF28.79%-2.90%374.94
OILXETRACS S&P GSCI Crude Oil Total Return ETN28.13%0.00%16.54

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.

 

Cinthia Murphy is head of digital experience, advocating for the user in all that etf.com does. She previously served as managing editor and writer for etf.com, specializing in ETF content and multimedia. Cinthia’s experience includes time at Dow Jones and former BridgeNews, covering commodity futures markets in Chicago and Brazil equities in Sao Paulo. She has a bachelor’s degree in journalism from the University of Missouri-Columbia.