ETFs Notch Small Gain Despite Market Uptick
Exchange-traded funds pulled in $11 billion last week.
Exchange-traded funds were muted the week ending Nov. 25, dipping 59% last from the week prior despite a market rally.
The S&P 500 ended the week up 1.5%, while the Nasdaq composite climbed 0.7% after a stunted trading week. U.S.-based markets were closed on Thursday for Thanksgiving, followed by a shortened trading session on Friday. Equity-focused funds pulled in a meager $895 million, plunging from the $13 billion recorded the week prior.
Meanwhile, the yield on the 10-year Treasury bill was little –changed, at 3.72%. U.S. fixed income ETFs notched $5.9 billion in inflows, dropping 36% from the $9.2 billion seen in the week ending Nov. 18.
Still, fixed income funds appeared to be an investor favorite, as the iShares iBoxx USD High Yield Corporate Bond ETF (HYG), the iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD) and the Vanguard Short-Term Corporate Bond ETF (VCHS) brought in over $1.6 billion, according to ETF.com data.
Yet Federal Reserve officials are cautioning that financial markets may be underestimating the possibility that the central bank could be more aggressive in the coming year in order to curb inflation.
"We've got a ways to go to get restrictive," Federal Reserve Bank of St. Louis President James Bullard said in an interview with MarketWatch and Barrons on Monday. He went on to state that the regulatory agency’s target range could hit between 5% and 5.25% to be "sufficiently restrictive.” The fed funds rate currently sits between 3.75% and 4%.
For a full list of last week’s top inflows and outflows, see the tables below:
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| SPY | SPDR S&P 500 ETF Trust | 715.60 | 382,302.03 | 0.19% |
| HYG | iShares iBoxx USD High Yield Corporate Bond ETF | 592.62 | 18,767.45 | 3.16% |
| LQD | iShares iBoxx USD Investment Grade Corporate Bond ETF | 551.12 | 39,506.51 | 1.40% |
| VCSH | Vanguard Short-Term Corporate Bond ETF | 464.36 | 41,345.84 | 1.12% |
| XLV | Health Care Select Sector SPDR Fund | 458.61 | 42,131.84 | 1.09% |
| JNK | SPDR Bloomberg High Yield Bond ETF | 434.06 | 9,753.70 | 4.45% |
| SCHD | Schwab U.S. Dividend Equity ETF | 429.75 | 44,428.58 | 0.97% |
| JEPI | JPMorgan Equity Premium Income ETF | 415.40 | 16,291.89 | 2.55% |
| MBB | iShares MBS ETF | 343.40 | 23,303.39 | 1.47% |
| STIP | iShares 0-5 Year TIPS Bond ETF | 339.20 | 12,926.41 | 2.62% |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| VOO | Vanguard S&P 500 ETF | -4,095.07 | 274,523.51 | -1.49% |
| SPLV | Invesco S&P 500 Low Volatility ETF | -572.64 | 10,518.57 | -5.44% |
| VTI | Vanguard Total Stock Market ETF | -546.03 | 272,349.30 | -0.20% |
| XOP | SPDR S&P Oil & Gas Exploration & Production ETF | -318.52 | 4,737.67 | -6.72% |
| TQQQ | ProShares UltraPro QQQ | -274.49 | 12,343.65 | -2.22% |
| IXG | iShares Global Financials ETF | -255.64 | 532.87 | -47.97% |
| BIL | SPDR Bloomberg 1-3 Month T-Bill ETF | -233.53 | 26,219.57 | -0.89% |
| VTV | Vanguard Value ETF | -166.86 | 105,611.75 | -0.16% |
| SQQQ | ProShares UltraPro Short QQQ | -166.64 | 3,645.80 | -4.57% |
| QQQ | Invesco QQQ Trust | -155.75 | 162,459.93 | -0.10% |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | 895.34 | 4,028,766.79 | 0.02% |
| International Equity | 3,556.04 | 1,150,891.83 | 0.31% |
| U.S. Fixed Income | 5,868.22 | 1,153,569.86 | 0.51% |
| International Fixed Income | 467.22 | 137,571.45 | 0.34% |
| Commodities | 422.59 | 129,785.22 | 0.33% |
| Currency | -80.73 | 4,176.64 | -1.93% |
| Leveraged | -286.88 | 51,681.60 | -0.56% |
| Inverse | 277.16 | 21,941.63 | 1.26% |
| Asset Allocation | 62.78 | 16,701.86 | 0.38% |
| Alternatives | 4.23 | 8,702.51 | 0.05% |
| Total: | 11,185.96 | 6,703,789.40 | 0.17% |
Asset Classes (Year-to-Date)
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | 271,442.54 | 4,028,766.79 | 6.74% |
| International Equity | 88,345.69 | 1,150,891.83 | 7.68% |
| U.S. Fixed Income | 172,972.26 | 1,153,569.86 | 14.99% |
| International Fixed Income | 6,140.32 | 137,571.45 | 4.46% |
| Commodities | -3,415.78 | 129,785.22 | -2.63% |
| Currency | 1,856.39 | 4,176.64 | 44.45% |
| Leveraged | 20,187.82 | 51,681.60 | 39.06% |
| Inverse | 8,359.72 | 21,941.63 | 38.10% |
| Asset Allocation | 514.63 | 16,701.86 | 3.08% |
| Alternatives | 2,359.39 | 8,702.51 | 27.11% |
| Total: | 568,762.98 | 6,703,789.40 | 8.48% |
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| MLPO | Credit Suisse S&P MLP Index ETN | 31.78% | 7,976 | 29.73 |
| CRPT | First Trust SkyBridge Crypto Industry and Digital Economy ETF | 8.26% | 286,988 | 15.24 |
| GAZ | iPath Series B Bloomberg Natural Gas Subindex Total Return ETN | 8.20% | 130,540 | 17.66 |
| UNG | United States Natural Gas Fund LP | 7.89% | 17,545,311 | 556.02 |
| WGMI | Valkyrie Bitcoin Miners ETF | 7.88% | 11,330 | 1.86 |
| SGDJ | Sprott Junior Gold Miners ETF | 7.75% | 36,517 | 102.31 |
| GDXJ | VanEck Junior Gold Miners ETF | 6.79% | 19,326,054 | 3,690.46 |
| RIGZ | Viridi Bitcoin Miners ETF | 6.51% | 19,011 | 3.44 |
| GOEX | Global X Gold Explorers ETF | 6.50% | 9,418 | 34.35 |
| BTF | Valkyrie Bitcoin Strategy ETF | 6.48% | 608,014 | 18.89 |
Top 10 YTD Performers
| Ticker | Name | YTD Performance | Weekly Performance | AUM ($, mm) |
| MLPO | Credit Suisse S&P MLP Index ETN | 277.17% | 31.78% | 29.73 |
| UNL | United States 12 Month Natural Gas Fund LP | 98.71% | 5.91% | 36.09 |
| GAZ | iPath Series B Bloomberg Natural Gas Subindex Total Return ETN | 96.83% | 8.20% | 17.66 |
| UNG | United States Natural Gas Fund LP | 88.23% | 7.89% | 556.02 |
| TUR | iShares MSCI Turkey ETF | 79.88% | 5.69% | 349.67 |
| PXE | Invesco Dynamic Energy Exploration & Production ETF | 79.17% | 2.11% | 354.65 |
| PFIX | Simplify Interest Rate Hedge ETF | 74.34% | -2.35% | 354.63 |
| IEO | iShares U.S. Oil & Gas Exploration & Production ETF | 72.90% | 2.63% | 1,239.94 |
| FENY | Fidelity MSCI Energy Index ETF | 71.58% | 2.18% | 1,755.57 |
| XLE | Energy Select Sector SPDR Fund | 71.31% | 2.01% | 43,820.09 |
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.
