ETFs Attract $10B In Weekly Flows
Risk-off moves pulled investors out of growth ETFs and into safer positions.
The U.S.-listed ETF industry gained nearly $10.4 billion in assets from Nov. 12 to Nov. 18, as a week of growing inflation fears pushed funds out of growth sectors and into value plays.
According to ETF.com data provider FactSet, U.S.-listed ETFs have gained $772.4 billion in assets year-to-date, and now hold $7.1 trillion in assets under management.
Value, TIPS, Small Caps Advance
Broad-market index funds continued their long reign on top of the inflows leaderboard, with the iShares Core S&P 500 ETF (IVV), the Vanguard Total Stock Market ETF (VTI) and the Vanguard S&P 500 ETF (VOO) gaining a combined $4.8 billion in assets.
However, the SPDR S&P 500 ETF Trust (SPY) posted $4.7 billion in outflows during the period, suggesting that traders aren’t as bullish on U.S. equity moves for short-term profits.
The iShares TIPS Bond ETF (TIP) added $586 million in assets and now has amassed $10.7 billion year-to-date, as inflation continues to drive the political conversation in Washington ahead of key GDP and inflation data reports next Wednesday. The Vanguard Value ETF (VTV) gained $506.2 million in a flight to relative safety in equities.
Small cap ETFs also gained in the week, with the iShares Russell 2000 ETF (IWM) and the iShares Core S&P Small-Cap ETF (IJR) gaining a combined $967 million. Investors are hoping that smaller companies will be nimble enough to navigate inflation pressures than larger competitors. There may also be some short-term alpha-chasing at play, as the Russell 2000 has outperformed the S&P 500 through the first half of November.
The Invesco S&P 500 Low Volatility ETF (SPLV) gained $743.9 million during the period, but that appears to be the first leg of a heartbeat trade. The fund took in $1.2 billion of new assets nearly three months ago to the day before most of those funds were pulled.
Growth Stocks Dumped
The Invesco QQQ Trust (QQQ) was second behind SPY in outflows during the period, losing $1.5 billion as investors pulled out of growth funds.
The iShares Russell 1000 Growth ETF (IWF), the iShares MSCI USA Momentum Factor ETF (MTUM) and the Vanguard Growth ETF (VUG) lost almost $1.82 billion combined during the week, while the Global X Cloud Computing ETF (CLOU) and the SPDR S&P Biotech ETF (XBI) lost a combined $765 million.
KWEB Assets Surge
The KraneShares CSI China Internet ETF (KWEB) took in $629 million on the week, giving it the fourth-largest inflow among all ETFs during the period.
KWEB is down 36.9% on the year after Beijing’s late-July crackdown on large technology companies and other sectors of the Chinese economy scared away foreign investors. However, the fund has gained $7.89 billion in assets this year, with the vast majority coming after the crackdown, and has added $1.44 billion in assets in the last month.
For a full list of this week’s top inflows and outflows, see the tables below:
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| IVV | iShares Core S&P 500 ETF | 1,992.37 | 326,417.65 | 0.61% |
| VTI | Vanguard Total Stock Market ETF | 1,712.52 | 292,497.95 | 0.59% |
| VOO | Vanguard S&P 500 ETF | 1,141.00 | 276,994.16 | 0.41% |
| SPLV | Invesco S&P 500 Low Volatility ETF | 743.96 | 9,066.35 | 8.21% |
| KWEB | KraneShares CSI China Internet ETF | 629.00 | 9,503.03 | 6.62% |
| TIP | iShares TIPS Bond ETF | 586.13 | 37,823.62 | 1.55% |
| BND | Vanguard Total Bond Market ETF | 569.20 | 82,847.70 | 0.69% |
| VTV | Vanguard Value ETF | 506.18 | 90,175.08 | 0.56% |
| IWM | iShares Russell 2000 ETF | 484.21 | 74,274.64 | 0.65% |
| IJR | iShares Core S&P Small-Cap ETF | 482.80 | 76,225.44 | 0.63% |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| SPY | SPDR S&P 500 ETF Trust | -4,722.94 | 423,844.97 | -1.11% |
| QQQ | Invesco QQQ Trust | -1,516.22 | 207,192.18 | -0.73% |
| IWF | iShares Russell 1000 Growth ETF | -863.05 | 78,309.80 | -1.10% |
| LQD | iShares iBoxx USD Investment Grade Corporate Bond ETF | -776.92 | 37,338.58 | -2.08% |
| XLE | Energy Select Sector SPDR Fund | -501.36 | 26,384.38 | -1.90% |
| MTUM | iShares MSCI USA Momentum Factor ETF | -481.04 | 16,368.05 | -2.94% |
| VUG | Vanguard Growth ETF | -473.53 | 90,407.19 | -0.52% |
| CLOU | Global X Cloud Computing ETF | -406.25 | 1,461.95 | -27.79% |
| XBI | SPDR S&P Biotech ETF | -359.37 | 7,079.56 | -5.08% |
| VGSH | Vanguard Short-Term Treasury Index ETF | -348.48 | 13,283.24 | -2.62% |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | 3,510.16 | 4,288,066.92 | 0.08% |
| International Equity | 2,524.26 | 1,334,266.85 | 0.19% |
| U.S. Fixed Income | 2,632.62 | 1,104,487.64 | 0.24% |
| International Fixed Income | 573.43 | 150,834.01 | 0.38% |
| Commodities | 394.98 | 144,769.84 | 0.27% |
| Currency | 89.15 | 3,391.92 | 2.63% |
| Leveraged | 678.43 | 74,412.56 | 0.91% |
| Inverse | -195.24 | 12,135.50 | -1.61% |
| Asset Allocation | 126.37 | 19,846.44 | 0.64% |
| Alternatives | 56.92 | 7,134.15 | 0.80% |
| Total: | 10,391.08 | 7,139,345.84 | 0.15% |
Asset Classes (Year-to-Date)
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | 383,102.83 | 4,288,066.92 | 8.93% |
| International Equity | 189,618.91 | 1,334,266.85 | 14.21% |
| U.S. Fixed Income | 154,445.85 | 1,104,487.64 | 13.98% |
| International Fixed Income | 31,380.46 | 150,834.01 | 20.80% |
| Commodities | -3,019.46 | 144,769.84 | -2.09% |
| Currency | 1,788.08 | 3,391.92 | 52.72% |
| Leveraged | 647.22 | 74,412.56 | 0.87% |
| Inverse | 6,336.16 | 12,135.50 | 52.21% |
| Asset Allocation | 4,855.19 | 19,846.44 | 24.46% |
| Alternatives | 3,283.82 | 7,134.15 | 46.03% |
| Total: | 772,439.06 | 7,139,345.84 | 10.82% |
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| CHB | Global X China Biotech Innovation ETF | 6.19% | 4,719 | 4.31 |
| GRN | iPath Series B Carbon ETN | 5.84% | 337,030 | 98.09 |
| JO | iPath Series B Bloomberg Coffee Subindex Total Return ETN | 5.33% | 540,100 | 120.70 |
| CHNA | Loncar China BioPharma ETF | 4.67% | 7,063 | 12.33 |
| KEUA | KraneShares European Carbon Allowance ETF | 4.40% | 7,838 | 74.71 |
| KURE | KraneShares MSCI All China Health Care Index ETF | 4.27% | 87,577 | 201.80 |
| PALL | Aberdeen Standard Physical Palladium Shares ETF | 3.88% | 156,938 | 398.32 |
| JJS | iPath Series B Bloomberg Softs Subindex Total Return ETN | 3.85% | 3,570 | 9.79 |
| CHIH | Global X MSCI China Health Care ETF | 3.55% | 18,913 | 16.41 |
| VCAR | Simplify Volt RoboCar Disruption and Tech ETF | 3.54% | 171,043 | 8.17 |
Top 10 YTD Performers
| Ticker | Name | YTD Performance | Weekly Performance | AUM ($, mm) |
| BDRY | Breakwave Dry Bulk Shipping ETF | 155.19% | -9.63% | 54.09 |
| URNM | North Shore Global Uranium Mining ETF | 117.46% | -7.00% | 961.96 |
| FCG | First Trust Natural Gas ETF | 113.96% | -2.68% | 486.52 |
| JJT | iPath Series B Bloomberg Tin Subindex Total Return ETN | 113.96% | 0.68% | 17.92 |
| PXE | Invesco Dynamic Energy Exploration & Production ETF | 109.82% | -2.63% | 138.82 |
| GRN | iPath Series B Carbon ETN | 109.40% | 5.84% | 98.09 |
| PXI | Invesco DWA Energy Momentum ETF | 92.44% | -3.02% | 98.78 |
| PSCE | Invesco S&P SmallCap Energy ETF | 87.94% | -4.25% | 139.50 |
| KRBN | KraneShares Global Carbon ETF | 86.93% | 3.07% | 1,307.13 |
| UNG | United States Natural Gas Fund LP | 86.74% | 1.43% | 531.22 |
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.
