ETFs Register Rare Weekly Outflow
Year-to-date inflows dropped to $304.4 billion.
ETFs registered a rare net outflow this week as U.S. stocks neared correction territory. According to the latest data from FactSet, investors pulled $28.1 billion from U.S.-listed ETFs during the week ending Thursday, Sept. 24, bringing year-to-date inflows down to $304.4 billion (year-to-date inflows were $196.9 billion at this same time a year ago).
Some of this week's chunky outflow may be related to tax-related heartbeat trades from last week. But that doesn't explain all of it. The SPDR S&P 500 ETF Trust (SPY) faced outflows of $7.8 billion this week as the fund's underlying index briefly fell more than 10% below its all-time highs on Thursday. A decline of more than 10% for the index is considered a correction by many on Wall Street.
U.S. equity ETFs were responsible for the bulk of this week's outflows; $27.6 billion came out of the segment. But U.S. fixed income ETFs had outflows as well.
The iShares iBoxx USD High Yield Corporate Bond ETF (HYG) made up the majority of those outflows. It had redemptions of $3.3 billion during the week as prices for the fund dropped to their lowest level since mid-July.
Bargain Hunting
On the other side of the spectrum, the Invesco QQQ Trust (QQQ) headlined the weekly inflows list this week, despite a continued sell-off in technology names.
At the same time, the SPDR Gold Trust (GLD) added $1.3 billion in fresh assets, bringing its year-to-date inflows haul to $20.8 billion. Investors may have been using the recent slide in gold prices to go bargain hunting. Gold was last trading around $1,865/oz after peaking at $2,075 back in August.
For a full list of this week's top ETF inflows and outflows, see the tables below:
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| QQQ | Invesco QQQ Trust | 1,425.40 | 125,291.84 | 1.14% |
| GLD | SPDR Gold Trust | 1,274.71 | 76,301.95 | 1.67% |
| TLT | iShares 20+ Year Treasury Bond ETF | 854.33 | 18,230.10 | 4.69% |
| AGG | iShares Core U.S. Aggregate Bond ETF | 473.08 | 80,618.10 | 0.59% |
| MTUM | iShares MSCI USA Momentum Factor ETF | 367.07 | 11,449.35 | 3.21% |
| BND | Vanguard Total Bond Market ETF | 353.52 | 62,446.05 | 0.57% |
| XLY | Consumer Discretionary Select Sector SPDR Fund | 337.60 | 15,459.44 | 2.18% |
| UUP | Invesco DB U.S. Dollar Index Bullish Fund | 305.20 | 739.67 | 41.26% |
| VXUS | Vanguard Total International Stock ETF | 234.87 | 25,662.11 | 0.92% |
| VCSH | Vanguard Short-Term Corporate Bond ETF | 215.53 | 32,505.43 | 0.66% |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| SPY | SPDR S&P 500 ETF Trust | -7,793.63 | 280,772.81 | -2.78% |
| HYG | iShares iBoxx USD High Yield Corporate Bond ETF | -3,273.66 | 26,555.34 | -12.33% |
| IWM | iShares Russell 2000 ETF | -2,129.03 | 35,993.79 | -5.91% |
| SCHG | Schwab U.S. Large-Cap Growth ETF | -1,542.09 | 11,542.56 | -13.36% |
| XLK | Technology Select Sector SPDR Fund | -1,460.84 | 32,398.20 | -4.51% |
| VO | Vanguard Mid-Cap ETF | -1,346.99 | 33,187.55 | -4.06% |
| VXF | Vanguard Extended Market ETF | -1,321.86 | 9,587.37 | -13.79% |
| VUG | Vanguard Growth ETF | -1,275.86 | 57,966.46 | -2.20% |
| VB | Vanguard Small-Cap ETF | -1,166.96 | 27,571.37 | -4.23% |
| JNK | SPDR Bloomberg Barclays High Yield Bond ETF | -977.15 | 11,890.61 | -8.22% |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | -27,558.00 | 2,531,379.02 | -1.09% |
| International Equity | 396.67 | 847,522.55 | 0.05% |
| U.S. Fixed Income | -2,496.32 | 919,363.45 | -0.27% |
| International Fixed Income | 64.11 | 109,022.05 | 0.06% |
| Commodities | 1,088.05 | 145,183.12 | 0.75% |
| Currency | 311.60 | 2,220.34 | 14.03% |
| Leveraged | 423.17 | 34,289.97 | 1.23% |
| Inverse | -249.70 | 15,285.44 | -1.63% |
| Asset Allocation | -29.11 | 10,735.25 | -0.27% |
| Alternatives | -14.18 | 5,145.56 | -0.28% |
| Total: | -28,063.70 | 4,620,146.76 | -0.61% |
Asset Classes (Year-to-Date)
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | 76,304.15 | 2,531,379.02 | 3.01% |
| International Equity | 12,596.86 | 847,522.55 | 1.49% |
| U.S. Fixed Income | 138,644.77 | 919,363.45 | 15.08% |
| International Fixed Income | 13,284.68 | 109,022.05 | 12.19% |
| Commodities | 45,437.15 | 145,183.12 | 31.30% |
| Currency | 902.57 | 2,220.34 | 40.65% |
| Leveraged | 3,396.19 | 34,289.97 | 9.90% |
| Inverse | 13,128.29 | 15,285.44 | 85.89% |
| Asset Allocation | 994.28 | 10,735.25 | 9.26% |
| Alternatives | -257.79 | 5,145.56 | -5.01% |
| Total: | 304,431.13 | 4,620,146.76 | 6.59% |
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| VXX | iPath Series B S&P 500 VIX Short Term Futures ETN | 9.56% | 123,535,507 | 1,059.31 |
| VIXY | ProShares VIX Short-Term Futures ETF | 9.56% | 20,432,087 | 293.78 |
| BDRY | Breakwave Dry Bulk Shipping ETF | 7.13% | 194,622 | 31.80 |
| GAZ | iPath Series B Bloomberg Natural Gas Subindex Total Return ETN | 6.33% | 16,496 | 4.36 |
| UNG | United States Natural Gas Fund LP | 6.16% | 23,039,658 | 356.31 |
| GSCE | GS Connect S&P GSCI Enhanced Commodity TR Strategy Index ETN | 6.14% | 25,259 | 356.31 |
| MOM | AGFiQ U.S. Market Neutral Momentum Fund | 5.37% | 123,219 | 6.21 |
| VIXM | ProShares VIX Mid-Term Futures ETF | 4.50% | 279,991 | 105.66 |
| VXZ | iPath Series B S&P 500 VIX Mid-Term Futures ETN | 4.27% | 87,865 | 32.35 |
| BTAL | AGFiQ U.S. Market Neutral Anti-Beta Fund | 3.22% | 528,136 | 227.93 |
Top 10 YTD Performers
| Ticker | Name | YTD Performance | Weekly Performance | AUM ($, mm) |
| XVZ | iPath S&P 500 Dynamic VIX ETN | 116.35% | 0.50% | 10.26 |
| VIXM | ProShares VIX Mid-Term Futures ETF | 100.75% | 4.50% | 105.66 |
| VXZ | iPath Series B S&P 500 VIX Mid-Term Futures ETN | 100.06% | 4.27% | 32.35 |
| TAN | Invesco Solar ETF | 82.76% | 1.94% | 1,281.19 |
| ARKG | ARK Genomic Revolution ETF | 79.21% | -4.77% | 2,127.87 |
| ARKW | ARK Next Generation Internet ETF | 79.09% | 0.00% | 2,331.87 |
| VXX | iPath Series B S&P 500 VIX Short Term Futures ETN | 76.59% | 9.56% | 1,059.31 |
| VIXY | ProShares VIX Short-Term Futures ETF | 76.11% | 9.56% | 293.78 |
| ARKK | ARK Innovation ETF | 75.72% | -2.15% | 8,334.56 |
| CLIX | ProShares Long Online/Short Stores ETF | 69.28% | 2.42% | 229.66 |
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.
