ETFs Register 1st Weekly Outflow Of 2020
Investors pulled more than $21 billion out of U.S.-listed ETFs this week.
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 $21.6 billion for U.S. equity ETFs.
For a full list of this week’s top inflows and outflows, see the tables below:
Top 10 Creations (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
IEF | iShares 7-10 Year Treasury Bond ETF | 1,442.84 | 20,877.03 | 6.91% |
VTI | Vanguard Total Stock Market ETF | 1,300.47 | 138,645.90 | 0.94% |
VOO | Vanguard S&P 500 ETF | 1,251.10 | 135,094.91 | 0.93% |
BND | Vanguard Total Bond Market ETF | 919.57 | 53,870.04 | 1.71% |
SPTI | SPDR Portfolio Intermediate Term Treasury ETF | 743.14 | 1,971.07 | 37.70% |
IVV | iShares Core S&P 500 ETF | 604.54 | 203,234.25 | 0.30% |
TQQQ | ProShares UltraPro QQQ | 519.32 | 5,019.38 | 10.35% |
AGG | iShares Core U.S. Aggregate Bond ETF | 518.51 | 75,702.70 | 0.68% |
IWM | iShares Russell 2000 ETF | 503.43 | 41,973.63 | 1.20% |
QUAL | iShares Edge MSCI U.S.A. Quality Factor ETF | 449.38 | 16,900.22 | 2.66% |
Top 10 Redemptions (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
SPY | SPDR S&P 500 ETF Trust | -18,537.88 | 278,742.70 | -6.65% |
HYG | iShares iBoxx USD High Yield Corporate Bond ETF | -3,979.94 | 14,369.40 | -27.70% |
QQQ | Invesco QQQ Trust | -1,400.56 | 89,408.96 | -1.57% |
JNK | SPDR Bloomberg Barclays High Yield Bond ETF | -1,218.56 | 8,300.69 | -14.68% |
XLF | Financial Select Sector SPDR Fund | -1,104.94 | 22,020.75 | -5.02% |
EEM | iShares MSCI Emerging Markets ETF | -1,088.05 | 26,711.68 | -4.07% |
SPLV | Invesco S&P 500 Low Volatility ETF | -858.38 | 12,793.68 | -6.71% |
LQD | iShares iBoxx USD Investment Grade Corporate Bond ETF | -843.80 | 34,604.45 | -2.44% |
EWJ | iShares MSCI Japan ETF | -685.63 | 11,360.04 | -6.04% |
XLI | Industrial Select Sector SPDR Fund | -600.83 | 10,365.89 | -5.80% |
ETF Weekly Flows By Asset Class
Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
U.S. Equity | -17,066.85 | 2,456,821.59 | -0.69% |
International Equity | -3,620.64 | 854,391.85 | -0.42% |
U.S. Fixed Income | -291.54 | 804,031.29 | -0.04% |
International Fixed Income | 145.52 | 95,788.98 | 0.15% |
Commodity ETFs | 247.46 | 90,485.93 | 0.27% |
Currency | -0.78 | 1,407.65 | -0.06% |
Leveraged | 600.82 | 39,190.58 | 1.53% |
Inverse | -500.12 | 12,300.67 | -4.07% |
Asset Allocation | 14.85 | 10,198.09 | 0.15% |
Alternatives | -623.37 | 4,965.43 | -12.55% |
Total: | -21,094.65 | 4,369,582.06 | -0.48% |
Asset Classes (Year-to-Date)
Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
U.S. Equity | 21,615.92 | 2,456,821.59 | 0.88% |
International Equity | 13,297.89 | 854,391.85 | 1.56% |
U.S. Fixed Income | 30,818.94 | 804,031.29 | 3.83% |
International Fixed Income | 4,544.91 | 95,788.98 | 4.74% |
Commodity ETFs | 4,585.42 | 90,485.93 | 5.07% |
Currency | 79.94 | 1,407.65 | 5.68% |
Leveraged | 2,066.32 | 39,190.58 | 5.27% |
Inverse | 116.05 | 12,300.67 | 0.94% |
Asset Allocation | 137.13 | 10,198.09 | 1.34% |
Alternatives | -65.95 | 4,965.43 | -1.33% |
Total: | 77,196.57 | 4,369,582.06 | 1.77% |
Top 10 Volume Surprises, Funds >$50 mm AUM
Ticker | Name | Average Volume (30 Day) | 1 Week Average Volume | % of Average |
SPTI | SPDR Portfolio Intermediate Term Treasury ETF | 2,010,354 | 11,951,777 | 594.51% |
DGRE | WisdomTree Emerging Markets Quality Dividend Growth Fund | 48,150 | 239,885 | 498.20% |
EEMS | iShares MSCI Emerging Markets Small Cap ETF | 46,766 | 184,179 | 393.83% |
TLTE | FlexShares Morningstar Emerging Markets Factor Tilt Index | 47,011 | 181,176 | 385.39% |
DOO | WisdomTree International Dividend ex-Financials Fund | 17,273 | 90,047 | 521.33% |
IBDS | iShares iBonds Dec 2027 Term Corporate ETF | 73,726 | 203,708 | 276.30% |
OCIO | ClearShares OCIO ETF | 686 | 1,681 | 245.01% |
USSG | Xtrackers MSCI U.S.A. ESG Leaders Equity ETF | 42,088 | 142,770 | 339.21% |
XLSR | SPDR SSGA U.S. Sector Rotation ETF | 27,413 | 73,563 | 268.36% |
HYS | PIMCO 0-5 Year High Yield Corporate Bond Index ETF | 365,292 | 1,024,812 | 280.55% |
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
EVIX | VelocityShares 1X Long VSTOXX Futures ETN | 28.26% | 40,397 | 1.70 |
VXX | iPath Series B S&P 500 VIX Short Term Futures ETN | 27.05% | 499,507,213 | 893.59 |
VIIX | VelocityShares Daily Long VIX Short-Term ETN | 26.91% | 761,122 | 16.33 |
VIXY | ProShares VIX Short-Term Futures ETF | 26.75% | 46,761,319 | 272.30 |
VXZ | iPath Series B S&P 500 VIX Mid-Term Futures ETN | 9.14% | 120,496 | 25.00 |
VIXM | ProShares VIX Mid-Term Futures ETF | 8.76% | 819,385 | 40.30 |
BTAL | AGFiQ U.S. Market Neutral Anti-Beta Fund | 4.21% | 674,543 | 200.05 |
TAIL | Cambria Tail Risk ETF | 3.40% | 677,087 | 79.79 |
PALL | Aberdeen Standard Physical Palladium Shares ETF | 2.82% | 252,105 | 452.56 |
ZROZ | PIMCO 25+ Year Zero Coupon US Treasury Index ETF | 1.98% | 453,421 | 390.57 |
Top 10 YTD Performers
Ticker | Name | YTD Performance | Weekly Performance | AUM ($, mm) |
PALL | Aberdeen Standard Physical Palladium Shares ETF | 48.80% | 2.82% | 452.56 |
VXX | iPath Series B S&P 500 VIX Short Term Futures ETN | 45.50% | 27.05% | 893.59 |
VIXY | ProShares VIX Short-Term Futures ETF | 45.29% | 26.75% | 272.30 |
VIIX | VelocityShares Daily Long VIX Short-Term ETN | 45.24% | 26.91% | 16.33 |
EVIX | VelocityShares 1X Long VSTOXX Futures ETN | 40.70% | 28.26% | 1.70 |
TAN | Invesco Solar ETF | 18.47% | -7.04% | 629.72 |
ZROZ | PIMCO 25+ Year Zero Coupon US Treasury Index ETF | 18.09% | 1.98% | 390.57 |
EDV | Vanguard Extended Duration Treasury ETF | 16.76% | 1.86% | 1,451.58 |
TLT | iShares 20+ Year Treasury Bond ETF | 12.29% | 1.49% | 20,817.43 |
SPTL | SPDR Portfolio Long Term Treasury ETF | 12.22% | 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.