ETFs See Third Weekly Outflow In 5 Weeks

'SPY' dragged down overall ETF flows, but there were some bright spots in the latest weekly data.

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

After two weeks of solid gains, ETF flows slipped back into the red this week amid gnawing concerns about trade wars. In total, U.S.-listed ETFs had outflows of $9.6 billion during the week ending Thursday, March 8, according to FactSet. That’s the third weekly outflow in five weeks.

Still, even with the slippage, ETF flows remain well in positive territory for the year thanks to a strong January. Year-to-date inflows last stood at $52.7 billion.

As has been the case in recent weeks, investors’ trepidation remained focused on U.S. equity ETFs, which had outflows of $9.3 billion just on its own. The other main categories, including international equity ETFs, U.S. fixed-income ETFs and commodity ETFs, didn’t see much flows action in either direction.

One fund alone was largely responsible for the poor showing of U.S. equity ETFs. The SPDR S&P 500 ETF Trust (SPY) had redemptions of a whopping $12.8 billion during the period, bringing its year-to-date outflows to $18.5 billion.

Strip out SPY and the picture doesn’t look nearly as bad. In fact, a number of U.S.-listed ETFs garnered solid inflows during the week, including the iShares Core MSCI EAFE ETF (IEFA) and the iShares Core S&P 500 ETF (IVV), which took in a combined $1.9 billion.

On Thursday, Bloomberg analyst Eric Balchunas called IVV, IEFA, the iShares Core MSCI Emerging Markets ETF (IEMG) and the iShares Core U.S. Aggregate Bond ETF (AGG) BlackRock’s "Four Headed Monster," which are responsible for more than half of the total year-to-date inflows for 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
IEFAiShares Core MSCI EAFE ETF1,842.1553,315.743.58%
IVViShares Core S&P 500 ETF1,096.22156,651.050.70%
XLPConsumer Staples Select Sector SPDR Fund642.748,076.258.65%
FDNFirst Trust Dow Jones Internet Index Fund521.887,100.737.93%
VOOVanguard S&P 500 ETF490.2190,347.100.55%
IWMiShares Russell 2000 ETF379.0341,221.850.93%
VAWVanguard Materials ETF334.482,771.1113.73%
KRESPDR S&P Regional Banking ETF253.715,401.634.93%
GDXVanEck Vectors Gold Miners ETF233.027,680.833.13%
ISTBiShares Core 1-5 Year USD Bond ETF231.291,825.1814.51%

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
SPYSPDR S&P 500 ETF Trust-12,749.86264,010.83-4.61%
AGGiShares Core U.S. Aggregate Bond ETF-914.7153,615.12-1.68%
VGTVanguard Information Technology ETF-820.1818,858.98-4.17%
XLIIndustrial Select Sector SPDR Fund-542.9212,412.18-4.19%
EZUiShares MSCI Eurozone ETF-399.4715,658.35-2.49%
JNKSPDR Bloomberg Barclays High Yield Bond ETF-359.118,680.67-3.97%
EPPiShares MSCI Pacific ex-Japan ETF-297.652,948.15-9.17%
XLREReal Estate Select Sector SPDR Fund-296.382,235.03-11.71%
HYGiShares iBoxx $ High Yield Corporate Bond ETF-264.1914,911.92-1.74%
DXJWisdomTree Japan Hedged Equity Fund-257.866,859.96-3.62%

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity-9,345.181,955,819.49-0.48%
International Equity300.88842,207.970.04%
U.S. Fixed Income-610.57518,540.16-0.12%
International Fixed Income-73.6962,562.58-0.12%
Commodities 128.3169,546.300.18%
Currency-18.831,355.42-1.39%
Leveraged48.1336,529.810.13%
Inverse55.7313,682.990.41%
Asset Allocation32.608,926.220.37%
Alternatives-161.064,292.45-3.75%
Total:-9,643.673,513,463.39-0.27%

Top 10 Volume Surprises, Funds >$50 mm AUM

TickerNameAverage Volume
(30 Day)
1 Week Average
Volume
% of Average
HYLVIQ S&P High Yield Low Volatility Bond ETF5,62028,208501.94%
BFORALPS Barron’s 400 ETF34,622147,366425.65%
EELVPowerShares S&P Emerging Markets Low Volatility Portfolio79,078179,936227.54%
HFXEIQ 50 Percent Hedged FTSE Europe ETF3,9297,634194.28%
IBDCiShares iBonds Mar 2020 Term Corporate ETF12,04822,560187.25%
AGTiShares MSCI Argentina and Global Exposure ETF31,78159,322186.66%
IGROiShares International Dividend Growth ETF6,78212,113178.61%
AGGPIQ Enhanced Core Plus Bond U.S. ETF268,567439,706163.72%
CSMLIQ Chaikin U.S. Small Cap ETF112,106181,024161.48%
IBDDiShares iBonds Mar 2023 Term Corporate ETF9,92114,094142.06%

 

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.