ETFs Gain $17.9B Despite Jittery Week
Broad market funds did well. Gold and retail? Not so much.
Inflows into U.S.-listed ETFs fell by about $1.1 billion week-over-week, but brought in a net $17.9 billion as investors sold off in the wake of a continued COVID-19 surge and word that the Federal Reserve will slow its bond-buying program.
As of Aug. 19, U.S.-listed ETFs have gained a net $563.2 billion in flows this year, and currently hold just over $6.62 trillion in assets under management, according to ETF.com data provider FactSet.
Broad Market, Quality Gains
The largest inflows on the week went to funds with broad-based indexes. The SPDR S&P 500 ETF Trust (SPY) led all funds by gaining more than $5.2 billion, while the Vanguard S&P 500 ETF (VOO) gained $815 million and the Vanguard Total International Stock ETF (VXUS) rose by $703 million.
Those increases come despite the S&P 500 losing 2.1% off the close of trading Monday to shortly before day’s end of Thursday. The sell-off intensified on the release of minutes of the Fed’s last meeting, which showed that a majority of governors supported drawing down the bond-buying program that propped up credit and liquidity throughout the pandemic.
Investors also rotated into some more defensive positions during the period, with the Invesco S&P 500 Low Volatility ETF (SPLV) gaining almost $1.3 billion for an AUM increase of 13.4%. The Health Care Select Sector SPDR Fund (XLV) gained $538.1 million in net flows, while the iShares MSCI USA Quality Factor ETF (QUAL) gained $416.7 million.
Gold, Retail Fall
Gold’s continued loss of popularity as a defensive asset continued during the week. The SPDR Gold Trust (GLD) lost the most of all ETFs during the period, with investors pulling $482.2 million for an AUM loss of 0.83%.
Meanwhile, the U.S. retail industry benchmark SPDR S&P Retail ETF (XRT) was routed, seeing outflows of $292.3 million, amounting to a 31.4% decline in its AUM. The rising number of COVID-19 cases across the country likely renewed fears of restrictions or a drop in foot traffic in physical stores, and a report from the Wall Street Journal suggesting that Amazon is planning to open physical department store locations for its private-label wares added to those fears.
For a full list of this week’s top inflows and outflows, see the tables below:
Top 10 Creations (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
SPY | SPDR S&P 500 ETF Trust | 5,248.61 | 388,333.24 | 1.35% |
SPLV | Invesco S&P 500 Low Volatility ETF | 1,260.32 | 9,404.17 | 13.40% |
VOO | Vanguard S&P 500 ETF | 815.51 | 246,875.37 | 0.33% |
VXUS | Vanguard Total International Stock ETF | 703.25 | 49,394.68 | 1.42% |
XLV | Health Care Select Sector SPDR Fund | 538.14 | 32,910.84 | 1.64% |
QQQ | Invesco QQQ Trust | 520.77 | 182,882.22 | 0.28% |
XLF | Financial Select Sector SPDR Fund | 497.51 | 41,824.63 | 1.19% |
VEA | Vanguard FTSE Developed Markets ETF | 421.97 | 104,045.82 | 0.41% |
QUAL | iShares MSCI USA Quality Factor ETF | 416.71 | 24,651.72 | 1.69% |
HYG | iShares iBoxx USD High Yield Corporate Bond ETF | 409.62 | 19,647.33 | 2.08% |
Top 10 Redemptions (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
GLD | SPDR Gold Trust | -482.19 | 58,194.14 | -0.83% |
XLI | Industrial Select Sector SPDR Fund | -411.28 | 18,977.05 | -2.17% |
ARKK | ARK Innovation ETF | -409.04 | 21,095.44 | -1.94% |
IWM | iShares Russell 2000 ETF | -400.71 | 63,585.21 | -0.63% |
IBB | iShares Biotechnology ETF | -362.69 | 11,113.43 | -3.26% |
USHY | iShares Broad USD High Yield Corporate Bond ETF | -317.55 | 7,990.70 | -3.97% |
XRT | SPDR S&P Retail ETF | -292.33 | 931.29 | -31.39% |
IVV | iShares Core S&P 500 ETF | -269.18 | 295,611.27 | -0.09% |
SPIB | SPDR Portfolio Intermediate Term Corporate Bond ETF | -257.13 | 6,004.32 | -4.28% |
KRE | SPDR S&P Regional Banking ETF | -253.31 | 4,342.70 | -5.83% |
ETF Weekly Flows By Asset Class
Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
U.S. Equity | 12,122.30 | 3,900,966.41 | 0.31% |
International Equity | 1,910.47 | 1,269,518.89 | 0.15% |
U.S. Fixed Income | 2,897.30 | 1,068,455.29 | 0.27% |
International Fixed Income | 550.88 | 148,593.29 | 0.37% |
Commodities | -611.08 | 137,698.63 | -0.44% |
Currency | -18.81 | 1,934.97 | -0.97% |
Leveraged | 649.96 | 58,940.74 | 1.10% |
Inverse | -38.88 | 12,164.39 | -0.32% |
Asset Allocation | 221.78 | 17,886.70 | 1.24% |
Alternatives | 203.74 | 6,848.12 | 2.98% |
Total: | 17,887.66 | 6,623,007.44 | 0.27% |
Asset Classes (Year-to-Date)
Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
U.S. Equity | 264,673.50 | 3,900,966.41 | 6.78% |
International Equity | 156,273.06 | 1,269,518.89 | 12.31% |
U.S. Fixed Income | 106,991.21 | 1,068,455.29 | 10.01% |
International Fixed Income | 26,561.17 | 148,593.29 | 17.88% |
Commodities | -2,215.27 | 137,698.63 | -1.61% |
Currency | 57.74 | 1,934.97 | 2.98% |
Leveraged | 194.56 | 58,940.74 | 0.33% |
Inverse | 4,707.95 | 12,164.39 | 38.70% |
Asset Allocation | 3,385.71 | 17,886.70 | 18.93% |
Alternatives | 2,553.04 | 6,848.12 | 37.28% |
Total: | 563,182.67 | 6,623,007.44 | 8.50% |
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
VIXY | ProShares VIX Short-Term Futures ETF | 10.82% | 22,274,501 | 339.37 |
VXX | iPath Series B S&P 500 VIX Short Term Futures ETN | 10.62% | 135,211,133 | 1,209.19 |
SOGU | The Short De-SPAC ETF | 8.09% | 167,534 | 21.60 |
BDRY | Breakwave Dry Bulk Shipping ETF | 5.83% | 848,682 | 97.56 |
VIXM | ProShares VIX Mid-Term Futures ETF | 5.33% | 355,781 | 103.68 |
VXZ | iPath Series B S&P 500 VIX Mid-Term Futures ETN | 4.30% | 279,253 | 43.35 |
GXG | Global X MSCI Colombia ETF | 3.68% | 21,565 | 38.52 |
ICOL | iShares MSCI Colombia ETF | 3.04% | 143,590 | 34.95 |
NIB | iPath Bloomberg Cocoa Subindex Total Return ETN | 2.74% | 131,569 | 19.87 |
GRN | iPath Series B Carbon ETN | 2.48% | 154,741 | 71.92 |
Top 10 YTD Performers
Ticker | Name | YTD Performance | Weekly Performance | AUM ($, mm) |
BDRY | Breakwave Dry Bulk Shipping ETF | 284.42% | 5.83% | 97.56 |
JJT | iPath Series B Bloomberg Tin Subindex Total Return ETN | 95.24% | 0.45% | 16.34 |
GRN | iPath Series B Carbon ETN | 74.57% | 2.48% | 71.92 |
REMX | VanEck Vectors Rare Earth/Strategic Metals ETF | 58.22% | -7.85% | 930.35 |
MLPO | Credit Suisse S&P MLP Index ETN | 57.86% | 1.74% | 22.17 |
FUE | ELEMENTS Linked to the ICE BofAML Commodity Index eXtra Biofuels - Total Return ETN | 52.55% | -0.84% | 1.61 |
KRBN | KraneShares Global Carbon ETF | 51.36% | 1.69% | 607.09 |
UNG | United States Natural Gas Fund LP | 45.54% | -0.81% | 258.97 |
PXE | Invesco Dynamic Energy Exploration & Production ETF | 45.35% | -6.32% | 68.54 |
FCG | First Trust Natural Gas ETF | 44.98% | -6.26% | 214.78 |
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.