ETFs Register 1st Weekly Outflow Of 2020

Investors pulled more than $21 billion out of U.S.-listed ETFs this week.

sumit
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Senior ETF Analyst
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Reviewed by: Sumit Roy
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Edited by: Sumit Roy

The first stock market correction of 2020 led to the first weekly net outflow from ETFs this year. U.S. stocks had their worst week since the financial crisis and investors pulled $21.1 billion from U.S.-listed ETFs during the week ending Thursday, Feb. 27.

This week’s stunning about-face in markets pushed the S&P 500 into correction territory, more than 10% off its all-time high set just last week. Unsurprisingly, given the carnage, investors took a big chunk of cash—$17.1 billion—out of U.S. equity ETFs. They took another $3.6 billion out of international equity ETFs.

Meanwhile, U.S. fixed income ETFs had modest net outflows of $292 million during the week. Strong inflows into Treasury ETFs were offset by hefty outflows from corporate bond ETFs.

The U.S. 10-year Treasury yield hit a record-low 1.11% during the week, but as Treasuries surged (bond prices and yields move inversely), junk bonds skid amid concerns about the health of corporate balance sheets in a potential economic slowdown.

The iShares 7-10 Year Treasury Bond ETF (IEF) led all inflows, with $1.4 billion of creations, while the iShares iBoxx USD High Yield Corporate Bond ETF (HYG) was No. 2 on the outflows list, with redemptions of $4 billion. Only the SPDR S&P 500 ETF Trust (SPY) had larger outflows for the week—$18.5 billion.

When all was said and done, year-to-date net ETF inflows dropped to $77.2 billion, still ahead of last year’s pace of $20.8 billion. U.S. fixed income ETFs now lead all segments on a year-to-date basis, with net inflows of $30.8 billion, more than the $21.6 billion for U.S. equity ETFs.

For a full list of this week’s top inflows and outflows, see the tables below:

 

Top 10 Creations (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
IEFiShares 7-10 Year Treasury Bond ETF1,442.8420,877.036.91%
VTIVanguard Total Stock Market ETF1,300.47138,645.900.94%
VOOVanguard S&P 500 ETF1,251.10135,094.910.93%
BNDVanguard Total Bond Market ETF919.5753,870.041.71%
SPTISPDR Portfolio Intermediate Term Treasury ETF743.141,971.0737.70%
IVViShares Core S&P 500 ETF604.54203,234.250.30%
TQQQProShares UltraPro QQQ519.325,019.3810.35%
AGGiShares Core U.S. Aggregate Bond ETF518.5175,702.700.68%
IWMiShares Russell 2000 ETF503.4341,973.631.20%
QUALiShares Edge MSCI U.S.A. Quality Factor ETF449.3816,900.222.66%

 

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
SPYSPDR S&P 500 ETF Trust-18,537.88278,742.70-6.65%
HYGiShares iBoxx USD High Yield Corporate Bond ETF-3,979.9414,369.40-27.70%
QQQInvesco QQQ Trust-1,400.5689,408.96-1.57%
JNKSPDR Bloomberg Barclays High Yield Bond ETF-1,218.568,300.69-14.68%
XLFFinancial Select Sector SPDR Fund-1,104.9422,020.75-5.02%
EEMiShares MSCI Emerging Markets ETF-1,088.0526,711.68-4.07%
SPLVInvesco S&P 500 Low Volatility ETF-858.3812,793.68-6.71%
LQDiShares iBoxx USD Investment Grade Corporate Bond ETF-843.8034,604.45-2.44%
EWJiShares MSCI Japan ETF-685.6311,360.04-6.04%
XLIIndustrial Select Sector SPDR Fund-600.8310,365.89-5.80%

 

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity-17,066.852,456,821.59-0.69%
International Equity-3,620.64854,391.85-0.42%
U.S. Fixed Income-291.54804,031.29-0.04%
International Fixed Income145.5295,788.980.15%
Commodity ETFs247.4690,485.930.27%
Currency-0.781,407.65-0.06%
Leveraged600.8239,190.581.53%
Inverse-500.1212,300.67-4.07%
Asset Allocation14.8510,198.090.15%
Alternatives-623.374,965.43-12.55%
Total:-21,094.654,369,582.06-0.48%

 

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity21,615.922,456,821.590.88%
International Equity13,297.89854,391.851.56%
U.S. Fixed Income30,818.94804,031.293.83%
International Fixed Income4,544.9195,788.984.74%
Commodity ETFs4,585.4290,485.935.07%
Currency79.941,407.655.68%
Leveraged2,066.3239,190.585.27%
Inverse116.0512,300.670.94%
Asset Allocation137.1310,198.091.34%
Alternatives-65.954,965.43-1.33%
Total:77,196.574,369,582.061.77%

 

Top 10 Volume Surprises, Funds >$50 mm AUM

TickerNameAverage Volume
(30 Day)
1 Week Average
Volume
% of Average
SPTISPDR Portfolio Intermediate Term Treasury ETF2,010,35411,951,777594.51%
DGREWisdomTree Emerging Markets Quality Dividend Growth Fund48,150239,885498.20%
EEMSiShares MSCI Emerging Markets Small Cap ETF46,766184,179393.83%
TLTEFlexShares Morningstar Emerging Markets Factor Tilt Index47,011181,176385.39%
DOOWisdomTree International Dividend ex-Financials Fund17,27390,047521.33%
IBDSiShares iBonds Dec 2027 Term Corporate ETF73,726203,708276.30%
OCIOClearShares OCIO ETF6861,681245.01%
USSGXtrackers MSCI U.S.A. ESG Leaders Equity ETF42,088142,770339.21%
XLSRSPDR SSGA U.S. Sector Rotation ETF27,41373,563268.36%
HYSPIMCO 0-5 Year High Yield Corporate Bond Index ETF365,2921,024,812280.55%

 

Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded

TickerNameWeekly PerformanceWeekly VolumeAUM ($, mm)
EVIXVelocityShares 1X Long VSTOXX Futures ETN28.26%40,3971.70
VXXiPath Series B S&P 500 VIX Short Term Futures ETN27.05%499,507,213893.59
VIIXVelocityShares Daily Long VIX Short-Term ETN26.91%761,12216.33
VIXYProShares VIX Short-Term Futures ETF26.75%46,761,319272.30
VXZiPath Series B S&P 500 VIX Mid-Term Futures ETN9.14%120,49625.00
VIXMProShares VIX Mid-Term Futures ETF8.76%819,38540.30
BTALAGFiQ U.S. Market Neutral Anti-Beta Fund4.21%674,543200.05
TAILCambria Tail Risk ETF3.40%677,08779.79
PALLAberdeen Standard Physical Palladium Shares ETF2.82%252,105452.56
ZROZPIMCO 25+ Year Zero Coupon US Treasury Index ETF1.98%453,421390.57

 

Top 10 YTD Performers

TickerNameYTD PerformanceWeekly PerformanceAUM ($, mm)
PALLAberdeen Standard Physical Palladium Shares ETF48.80%2.82%452.56
VXXiPath Series B S&P 500 VIX Short Term Futures ETN45.50%27.05%893.59
VIXYProShares VIX Short-Term Futures ETF45.29%26.75%272.30
VIIXVelocityShares Daily Long VIX Short-Term ETN45.24%26.91%16.33
EVIXVelocityShares 1X Long VSTOXX Futures ETN40.70%28.26%1.70
TANInvesco Solar ETF18.47%-7.04%629.72
ZROZPIMCO 25+ Year Zero Coupon US Treasury Index ETF18.09%1.98%390.57
EDVVanguard Extended Duration Treasury ETF16.76%1.86%1,451.58
TLTiShares 20+ Year Treasury Bond ETF12.29%1.49%20,817.43
SPTLSPDR Portfolio Long Term Treasury ETF12.22%1.53%2,290.42

 

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.

Sumit Roy is the senior ETF analyst for etf.com, where he has worked for 13 years. He creates a variety of content for the platform, including news articles, analysis pieces, videos and podcasts.

Before joining etf.com, Sumit was the managing editor and commodities analyst for Hard Assets Investor. In those roles, he was responsible for most of the operations of HAI, a website dedicated to education about commodities investing.

Though he still closely follows the commodities beat, Sumit covers a much broader assortment of topics for etf.com, with a particular focus on stock and bond exchange-traded funds.

He is the host of etf.com’s Talk ETFs, a popular video series that features weekly interviews with thought leaders in the ETF industry. Sumit is also co-host of Exchange Traded Fridays, etf.com’s weekly podcast series.

He lives in the San Francisco Bay Area, where he enjoys climbing the city’s steep hills, playing chess and snowboarding in Lake Tahoe.