ETFs See Rare Weekly Asset Outflows
ETFs see weekly net outflows for the first time since March, led by exodus from U.S. equity funds.
The solid pace of U.S. ETF asset growth hit a snag this past week, as investors pulled some $1.3 billion from U.S.-listed ETFs in five days. The market is approaching the end of December sitting at $3.418 trillion, with annual net creations just below the $500 billion mark at $465 billion.
This marks the first weekly net outflows the market has seen since March. ETF asset growth has been on tear all year, breaking all sorts of records. The losses were heavily focused on U.S. equity ETFs, which bled $7.7 billion in a week. Apparently the passing of the tax reform bill by the U.S. House and the Senate didn't do much to spur appetite for U.S. stock funds this week.
Notable redemptions were seen in some popular value ETFs such as the iShares S&P 500 Value ETF (IVE), the iShares S&P Mid-Cap 400 Value ETF (IJJ) and the iShares S&P Small-Cap 600 Value ETF (IJS), each of which saw outflows amounting to anywhere from 12% to 19% of total assets under management. As a factor, value has struggled this year relative to other risk factors, but demand for value funds had been on the rise.
On the flip side, investors seem to be returning their focus to international stock ETFs, pouring $6.6 billion into the segment in the past week, making it the most in-demand asset class in the past five days.
Most of the net creations took place in broad-based, large and highly liquid developed market and emerging market funds.
Top 10 Creations (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
SPY | SPDR S&P 500 ETF Trust | 3,279.84 | 275,079.08 | 1.21% |
EFA | iShares MSCI EAFE ETF | 1,296.60 | 83,633.64 | 1.57% |
DIA | SPDR Dow Jones Industrial Average ETF Trust | 774.01 | 22,184.17 | 3.62% |
VEA | Vanguard FTSE Developed Markets ETF | 690.98 | 67,802.74 | 1.03% |
IEMG | iShares Core MSCI Emerging Markets ETF | 664.12 | 41,547.23 | 1.62% |
IEFA | iShares Core MSCI EAFE ETF | 656.79 | 41,603.79 | 1.60% |
EEM | iShares MSCI Emerging Markets ETF | 620.20 | 38,290.73 | 1.65% |
IYR | iShares U.S. Real Estate ETF | 590.94 | 4,556.47 | 14.90% |
VOO | Vanguard S&P 500 ETF | 575.94 | 83,915.38 | 0.69% |
IWB | iShares Russell 1000 ETF | 529.70 | 20,559.90 | 2.64% |
Top 10 Redemptions (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
IVE | iShares S&P 500 Value ETF | -2,259.12 | 15,189.15 | -12.95% |
QQQ | PowerShares QQQ Trust | -2,097.79 | 57,426.10 | -3.52% |
IVV | iShares Core S&P 500 ETF | -1,812.85 | 141,357.24 | -1.27% |
IJJ | iShares S&P Mid-Cap 400 Value ETF | -1,387.58 | 5,890.54 | -19.07% |
IWM | iShares Russell 2000 ETF | -1,205.59 | 43,951.54 | -2.67% |
IJS | iShares S&P Small-Cap 600 Value ETF | -1,192.55 | 5,279.90 | -18.43% |
VB | Vanguard Small-Cap ETF | -889.47 | 21,535.47 | -3.97% |
UGAZ | VelocityShares 3X Long Natural Gas ETN | -872.18 | 929.41 | -48.41% |
HYG | iShares iBoxx $ High Yield Corporate Bond ETF | -811.09 | 17,780.21 | -4.36% |
VTI | Vanguard Total Stock Market ETF | -796.09 | 92,048.47 | -0.86% |
ETF Weekly Flows By Asset Class
Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
U.S. Equity | -7,769.73 | 1,920,328.95 | -0.40% |
International Equity | 6,650.78 | 789,640.31 | 0.84% |
U.S. Fixed Income | 871.32 | 521,118.42 | 0.17% |
International Fixed Income | 651.90 | 58,310.71 | 1.12% |
Commodities | -356.23 | 65,194.36 | -0.55% |
Currency | 31.34 | 1,280.52 | 2.45% |
Leveraged | -954.99 | 33,766.29 | -2.83% |
Inverse | -450.44 | 15,852.62 | -2.84% |
Asset Allocation | -27.87 | 8,913.70 | -0.31% |
Alternatives | 49.18 | 4,424.86 | 1.11% |
Total: | -1,304.74 | 3,418,830.75 | -0.04% |
Top 10 Volume Surprises, Funds >$50 mm AUM
Ticker | Name | Average Volume (30 Day) | 1 Week Average Volume | % of Average |
HOLD | AdvisorShares Sage Core Reserves ETF | 604 | 2,816 | 465.89% |
JHML | John Hancock Multifactor Large Cap ETF | 44,125 | 188,393 | 426.95% |
PXH | Powershares FTSE RAFI Emerging Markets Portfolio | 260,907 | 963,656 | 369.35% |
LRGF | iShares Edge MSCI Multifactor USA ETF | 141,772 | 498,515 | 351.63% |
DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 53,002 | 178,897 | 337.53% |
PBD | Powershares Global Clean Energy Portfolio | 15,318 | 48,253 | 315.02% |
PST | ProShares UltraShort 7-10 Year Treasury | 53,224 | 197,823 | 371.68% |
CATH | Global X S&P 500 Catholic Values | 10,278 | 34,018 | 330.99% |
JHMM | John Hancock Multifactor Mid Cap ETF | 33,659 | 99,240 | 294.84% |
HFXE | IQ 50 Percent Hedged FTSE Europe ETF | 7,426 | 15,323 | 206.35% |
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
ECH | iShares MSCI Chile Capped ETF | 8.30% | 3,277,398 | 559.96 |
SGG | iPath Bloomberg Sugar Subindex Total Return ETN | 7.30% | 375,695 | 72.79 |
GRN | iPath Global Carbon ETN | 6.17% | 15,228 | 1.47 |
CANE | Teucrium Sugar Fund | 6.14% | 327,141 | 6.14 |
XES | SPDR S&P Oil & Gas Equipment & Services ETF | 5.54% | 1,845,175 | 313.49 |
XME | SPDR S&P Metals & Mining ETF | 5.28% | 19,145,100 | 860.59 |
SILJ | ETFMG Prime Junior Silver ETF | 5.04% | 354,619 | 53.15 |
IEZ | iShares U.S. Oil Equipment & Services ETF | 4.99% | 933,008 | 226.27 |
EZA | iShares MSCI South Africa ETF | 4.88% | 2,924,119 | 446.56 |
GOEX | Global X Gold Explorers ETF | 4.81% | 61,709 | 46.57 |
Top 10 YTD Performers
Ticker | Name | YTD Performance | Weekly Performance | AUM ($, mm) |
XIVH | VelocityShares VIX Short Volatility Hedged ETN | 120.79% | 0.34% | 75.92 |
ARKK | ARK Innovation ETF | 88.28% | -0.31% | 388.14 |
ARKW | ARK Web x.0 ETF | 87.53% | -0.66% | 247.01 |
CXSE | WisdomTree China ex-State-Owned Enterprises Fund | 80.20% | 1.18% | 152.20 |
CQQQ | Guggenheim China Technology ETF | 73.46% | 0.66% | 414.44 |
KWEB | KraneShares CSI China Internet ETF | 69.82% | 2.06% | 1,237.99 |
EMQQ | Emerging Markets Internet & Ecommerce ETF | 67.99% | 1.28% | 385.39 |
REMX | VanEck Vectors Rare Earth/Strategic Metals ETF | 67.61% | 1.58% | 150.77 |
SCIN | Columbia India Small Cap ETF | 64.41% | 4.09% | 33.68 |
CHIQ | Global X China Consumer ETF | 63.93% | 1.46% | 226.96 |
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.