ETFs Add $30B On Equity Surge
‘SPY’ alone gained $8.6 billion.
ETF investors piled into large cap stalwarts last week to bring just shy of a net $30.2 billion in fresh assets to the U.S. ETF industry from March 28 to April 1, despite the S&P 500 losing 1.5% last week.
U.S.-listed ETFs closed the first quarter with $205.4 billion in new assets year-to-date, and have a combined $7 billion in assets under management.
‘SPY’ Crushes Flows
The SPDR S&P 500 ETF Trust (SPY) dominated inflows last week with an $8.6 billion haul, amounting to nearly 40% of all the net inflows during the period. It more than doubled the second-place Invesco QQQ Trust (QQQ), which added $4.2 billion during the week.
However, SPY remains deep in the red year-to-date, with just short of $12 billion in losses.
Other S&P 500-following funds took in significant assets on the week, with the iShares Core S&P 500 ETF (IVV), the iShares S&P 500 Growth ETF (IVW) and the Vanguard S&P 500 ETF (VOO) adding a combined $3.1 billion.
The Vanguard Total Bond Market ETF (BND) led fixed income gainers, with a $2.4 billion inflow, while the Schwab Intermediate-Term U.S. Treasury ETF (SCHR) added $853 million. The funds have produced losses of 5.8% and 4.9% year-to-date, but investors were likely rebalancing their bond exposure as hawkish words from Fed members drove yields higher.
It wasn’t all rosy on the Treasury front, as the intermediate-term iShares 3-7 Year Treasury Bond ETF (IEI) lost $414 million.
Emerging markets were the international theme to be in last week, with the iShares MSCI Emerging Markets ETF (EEM) and the iShares Core MSCI Emerging Markets ETF (IEMG) adding more than $2 billion combined on the week.
Outflows Across Asset Classes
There wasn’t a strong pattern among the largest outflows list last week, with funds across asset classes making appearances.
The iShares Russell 2000 (IWM) led outflows, with $1.5 billion in losses on the week, followed by the Vanguard Short-Term Bond ETF (BSV), with losses just shy of $1.3 billion.
While the S&P 500 funds surged, the rest of the large caps struggled, with the iShares Russell 1000 Growth ETF (IWF) in particular losing nearly $820 million.
Corporate and foreign sovereign bonds also struggled on the week, as safer Treasury yields continued to rise.
The iShares JP Morgan USD Emerging Markets Bond ETF (EMB), the JPMorgan High Yield Research Enhanced ETF (JPHY) and the iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD) lost a combined $1.75 billion.
For a full list of last week’s top inflows and outflows, see the tables below:
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| SPY | SPDR S&P 500 ETF Trust | 8,610.68 | 420,551.23 | 2.05% |
| QQQ | Invesco QQQ Trust | 4,206.25 | 198,841.17 | 2.12% |
| BND | Vanguard Total Bond Market ETF | 2,418.93 | 83,408.14 | 2.90% |
| EEM | iShares MSCI Emerging Markets ETF | 1,272.07 | 28,444.14 | 4.47% |
| IVV | iShares Core S&P 500 ETF | 1,232.25 | 332,966.10 | 0.37% |
| IVW | iShares S&P 500 Growth ETF | 1,065.03 | 36,758.39 | 2.90% |
| XLK | Technology Select Sector SPDR Fund | 873.80 | 47,556.53 | 1.84% |
| SCHR | Schwab Intermediate-Term U.S. Treasury ETF | 853.35 | 4,581.73 | 18.63% |
| VOO | Vanguard S&P 500 ETF | 823.97 | 291,370.96 | 0.28% |
| IEMG | iShares Core MSCI Emerging Markets ETF | 798.51 | 73,555.08 | 1.09% |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| IWM | iShares Russell 2000 ETF | -1,526.60 | 61,952.65 | -2.46% |
| BSV | Vanguard Short-Term Bond ETF | -1,298.49 | 37,278.30 | -3.48% |
| IWF | iShares Russell 1000 Growth ETF | -819.81 | 70,734.73 | -1.16% |
| SMH | VanEck Semiconductor ETF | -725.16 | 8,331.64 | -8.70% |
| EMB | iShares JP Morgan USD Emerging Markets Bond ETF | -668.40 | 16,686.22 | -4.01% |
| XLE | Energy Select Sector SPDR Fund | -652.66 | 36,711.96 | -1.78% |
| JPHY | JPMorgan High Yield Research Enhanced ETF | -581.32 | 806.03 | -72.12% |
| FVD | First Trust Value Line Dividend Index Fund | -521.59 | 12,780.24 | -4.08% |
| LQD | iShares iBoxx USD Investment Grade Corporate Bond ETF | -497.73 | 34,151.69 | -1.46% |
| IEI | iShares 3-7 Year Treasury Bond ETF | -414.41 | 9,909.83 | -4.18% |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | 22,084.71 | 4,269,699.63 | 0.52% |
| International Equity | 3,469.39 | 1,271,281.29 | 0.27% |
| U.S. Fixed Income | 4,904.29 | 1,070,536.17 | 0.46% |
| International Fixed Income | -222.85 | 158,077.83 | -0.14% |
| Commodities | 234.16 | 169,682.69 | 0.14% |
| Currency | -0.61 | 3,557.17 | -0.02% |
| Leveraged | 157.47 | 68,197.38 | 0.23% |
| Inverse | 97.44 | 16,437.95 | 0.59% |
| Asset Allocation | -531.80 | 19,206.32 | -2.77% |
| Alternatives | -25.60 | 7,297.38 | -0.35% |
| Total: | 30,166.59 | 7,053,973.80 | 0.43% |
Asset Classes (Year-to-Date)
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | 105,574.79 | 4,269,699.63 | 2.47% |
| International Equity | 46,627.65 | 1,271,281.29 | 3.67% |
| U.S. Fixed Income | 15,123.90 | 1,070,536.17 | 1.41% |
| International Fixed Income | 7,339.96 | 158,077.83 | 4.64% |
| Commodities | 18,897.69 | 169,682.69 | 11.14% |
| Currency | 369.54 | 3,557.17 | 10.39% |
| Leveraged | 6,824.80 | 68,197.38 | 10.01% |
| Inverse | 4,423.08 | 16,437.95 | 26.91% |
| Asset Allocation | -0.01 | 19,206.32 | 0.00% |
| Alternatives | 263.27 | 7,297.38 | 3.61% |
| Total: | 205,444.66 | 7,053,973.80 | 2.91% |
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| JO | iPath Series B Bloomberg Coffee Subindex Total Return ETN | 4.66% | 146,110 | 80.66 |
| QTR | Global X NASDAQ 100 Tail Risk ETF | 3.88% | 2,063 | 4.38 |
| TUR | iShares MSCI Turkey ETF | 3.55% | 1,366,724 | 268.58 |
| JETS | U.S. Global Jets ETF | 3.52% | 26,405,971 | 3,475.65 |
| FDHT | Fidelity Digital Health ETF | 3.45% | 17,168 | 12.54 |
| FID | First Trust S&P International Dividend Aristocrats ETF | 3.32% | 112,110 | 54.73 |
| DBO | Invesco DB Oil Fund | 3.16% | 7,233,826 | 510.10 |
| XMPT | VanEck CEF Muni Income ETF | 3.14% | 589,761 | 195.37 |
| BTEC | Principal Healthcare Innovators Index ETF | 3.11% | 10,189 | 71.42 |
| TRYP | SonicShares Airlines, Hotels, Cruise Lines ETF | 3.10% | 172,562 | 12.86 |
Top 10 YTD Performers
| Ticker | Name | YTD Performance | Weekly Performance | AUM ($, mm) |
| JJN | iPath Series B Bloomberg Nickel Subindex Total Return ETN | 58.14% | 0.09% | 64.43 |
| GAZ | iPath Series B Bloomberg Natural Gas Subindex Total Return ETN | 54.26% | 2.98% | 20.75 |
| XES | SPDR S&P Oil & Gas Equipment & Services ETF | 52.72% | 1.23% | 335.11 |
| JJE | iPath Series B Bloomberg Energy Subindex Total Return ETN | 52.03% | -0.02% | 6.50 |
| RJN | Elements Rogers International Commodity Index-Energy TR ETN | 51.95% | -3.77% | 16.02 |
| IEZ | iShares U.S. Oil Equipment & Services ETF | 51.64% | 0.63% | 283.68 |
| PXE | Invesco Dynamic Energy Exploration & Production ETF | 46.10% | 0.14% | 253.13 |
| PXJ | Invesco Dynamic Oil & Gas Services ETF | 45.60% | 0.88% | 66.55 |
| PSCE | Invesco S&P SmallCap Energy ETF | 44.94% | -0.30% | 190.73 |
| OIL | iPath Pure Beta Crude Oil ETN | 44.46% | -1.13% | 131.87 |
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.
