ETFs Add $38B During Week
Plus, junk bonds and short-term Treasurys take a hit.
U.S. equity ETFs, in particular, dominated during the week, pulling in $27.3 billion, up from just $7.5 billion in inflows last week.
There are now $6.5 billion in assets under management by U.S.-listed ETFs, compared to approximately $4.4 billion during the same week last year.
US Equities Continue Charge
U.S. equity-focused funds claimed the top seven spots for the ETFs with the largest inflows this week, amounting to a combined total of nearly $15 billion in flows. Vanguard dominated creations, with five of its ETFs claiming spots in the top 10, with roughly $12 billion in new flows.
The Vanguard Growth ETF (VUG) led the way during the week, posting $2.8 billion in inflows. It was followed closely by the Vanguard Total Stock Market ETF (VTI) and the iShares Core S&P 500 ETF (IVV), which each pulled in roughly $2.5 billion.
Interestingly, the SPDR S&P 500 ETF Trust (SPY) led outflows for the week, with a loss of $2.4 billion. Given the fact that so many U.S. equity ETFs overshadowed the leading creations, it seems likely that some investors may have simply been rotating into lower-cost products. Both VTI and IVV charge an expense ratio of 0.03%, while SPY charges 0.9%.
Junk Bonds Retreat
Two junk bond ETFs found their way into the top 10 ETFs for outflows during the week. The iShares iBoxx USD High Yield Corporate Bond ETF (HYG) claimed the No. 2 spot after SPY, with a loss for the week of $1.1 billion. The SPDR Bloomberg Barclays High Yield Bond ETF (JNK) was in the No. 8 spot, with a loss of $437 million.
With the Fed projecting inflation of more than 3% through 2021 and potentially above 2% through 2023, it’s not surprising the iShares 1-3 Year Treasury Bond ETF (SHY) lost $836.7 million through outflows in the week.
That compares to the iShares 20+ Year Treasury Bond ETF (TLT) , which posted inflows of $963.9 million in the same period after the Fed made multiple calls that short-term inflation pressures would subside as the broader economy recovers from the sugar high generated from pent-up spending as the U.S. continues to emerge from COVID-19 lockdowns.
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Top 10 Creations (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
VUG | Vanguard Growth ETF | 2,826.27 | 78,233.72 | 3.61% |
VTI | Vanguard Total Stock Market ETF | 2,521.84 | 249,210.81 | 1.01% |
IVV | iShares Core S&P 500 ETF | 2,468.56 | 281,086.56 | 0.88% |
QQQ | Invesco QQQ Trust | 2,327.94 | 165,926.73 | 1.40% |
VO | Vanguard Mid-Cap ETF | 1,726.54 | 50,739.51 | 3.40% |
VTV | Vanguard Value ETF | 1,592.72 | 83,540.25 | 1.91% |
VB | Vanguard Small-Cap ETF | 1,431.81 | 48,149.43 | 2.97% |
IEFA | iShares Core MSCI EAFE ETF | 1,318.15 | 97,953.83 | 1.35% |
LQD | iShares iBoxx USD Investment Grade Corporate Bond ETF | 1,023.49 | 40,254.27 | 2.54% |
TLT | iShares 20+ Year Treasury Bond ETF | 963.85 | 14,304.46 | 6.74% |
Top 10 Redemptions (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
SPY | SPDR S&P 500 ETF Trust | -2,389.51 | 361,373.01 | -0.66% |
HYG | iShares iBoxx USD High Yield Corporate Bond ETF | -1,102.61 | 19,771.54 | -5.58% |
SHY | iShares 1-3 Year Treasury Bond ETF | -836.72 | 19,630.57 | -4.26% |
TQQQ | ProShares UltraPro QQQ | -787.50 | 11,383.03 | -6.92% |
IBB | iShares Biotechnology ETF | -545.39 | 10,294.07 | -5.30% |
XBI | SPDR S&P Biotech ETF | -485.60 | 6,905.37 | -7.03% |
DIA | SPDR Dow Jones Industrial Average ETF Trust | -444.49 | 30,134.01 | -1.48% |
JNK | SPDR Bloomberg Barclays High Yield Bond ETF | -437.82 | 9,305.59 | -4.70% |
SPYV | SPDR Portfolio S&P 500 Value ETF | -379.10 | 12,337.31 | -3.07% |
USMV | iShares MSCI USA Min Vol Factor ETF | -336.78 | 27,445.40 | -1.23% |
ETF Weekly Flows By Asset Class
Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
U.S. Equity | 27,283.30 | 3,771,963.76 | 0.72% |
International Equity | 7,882.85 | 1,289,720.51 | 0.61% |
U.S. Fixed Income | 3,264.75 | 1,028,801.95 | 0.32% |
International Fixed Income | 610.16 | 141,486.82 | 0.43% |
Commodities | -32.71 | 147,370.72 | -0.02% |
Currency | 31.21 | 1,902.56 | 1.64% |
Leveraged | -1,186.37 | 57,983.82 | -2.05% |
Inverse | 242.41 | 12,070.85 | 2.01% |
Asset Allocation | 131.89 | 16,132.65 | 0.82% |
Alternatives | 82.58 | 6,411.58 | 1.29% |
Total: | 38,310.08 | 6,473,845.22 | 0.59% |
Asset Classes (Year-to-Date)
Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
U.S. Equity | 218,837.68 | 3,771,963.76 | 5.80% |
International Equity | 133,513.60 | 1,289,720.51 | 10.35% |
U.S. Fixed Income | 75,453.47 | 1,028,801.95 | 7.33% |
International Fixed Income | 20,073.02 | 141,486.82 | 14.19% |
Commodities | -179.08 | 147,370.72 | -0.12% |
Currency | -3.55 | 1,902.56 | -0.19% |
Leveraged | 403.91 | 57,983.82 | 0.70% |
Inverse | 3,789.80 | 12,070.85 | 31.40% |
Asset Allocation | 1,921.78 | 16,132.65 | 11.91% |
Alternatives | 2,002.06 | 6,411.58 | 31.23% |
Total: | 455,812.68 | 6,473,845.22 | 7.04% |
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
GSCE | GS Connect S&P GSCI Enhanced Commodity TR Strategy Index ETN | 10.34% | 1,008 | 27,445.40 |
BDRY | Breakwave Dry Bulk Shipping ETF | 8.34% | 1,931,471 | 111.53 |
MLPO | Credit Suisse S&P MLP Index ETN | 5.22% | 2,805 | 26.09 |
BITQ | Bitwise Crypto Industry Innovators ETF | 4.63% | 390,463 | 52.24 |
VXX | iPath Series B S&P 500 VIX Short Term Futures ETN | 4.06% | 108,873,376 | 1,011.77 |
VIXY | ProShares VIX Short-Term Futures ETF | 4.04% | 13,925,348 | 315.37 |
DAPP | VanEck Vectors Digital Transformation ETF | 3.51% | 104,313 | 30.62 |
SOGU | The Short De-SPAC ETF | 3.05% | 14,550 | 9.87 |
EWZS | iShares MSCI Brazil Small-Cap ETF | 2.32% | 285,766 | 129.53 |
XES | SPDR S&P Oil & Gas Equipment & Services ETF | 2.27% | 396,782 | 195.26 |
Top 10 YTD Performers
Ticker | Name | YTD Performance | Weekly Performance | AUM ($, mm) |
BDRY | Breakwave Dry Bulk Shipping ETF | 264.55% | 8.34% | 111.53 |
ILCV | iShares Morningstar Value ETF | 129.83% | -0.86% | 725.25 |
PSCE | Invesco S&P SmallCap Energy ETF | 76.16% | 0.74% | 221.21 |
FCG | First Trust Natural Gas ETF | 75.11% | 0.43% | 280.91 |
PXE | Invesco Dynamic Energy Exploration & Production ETF | 74.23% | 0.32% | 91.98 |
PXI | Invesco DWA Energy Momentum ETF | 67.10% | 1.70% | 223.95 |
JJT | iPath Series B Bloomberg Tin Subindex Total Return ETN | 65.00% | -2.11% | 10.04 |
FRAK | VanEck Vectors Unconventional Oil & Gas ETF | 64.45% | 0.12% | 19.18 |
AMZA | InfraCap MLP ETF | 62.15% | 1.27% | 342.58 |
XOP | SPDR S&P Oil & Gas Exploration & Production ETF | 59.71% | 0.09% | 4,491.85 |
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.