First Weekly ETF Outflow Since March

Senior ETF Analyst

May 08, 2020

Reviewed by: Sumit Roy

Edited by: Sumit Roy

U.S.-listed ETFs registered their first weekly outflow since March this week as markets remained near their recent highs. On net, $4.8 billion flowed out of the space, pushing year-to-date inflows down to $115.8 billion. That compares to year-to-date inflows of $70.9 billion seen at this same time last year.

Top flows winners this week included the iShares iBoxx USD High Yield Corporate Bond ETF (HYG), the SPDR Gold Trust (GLD) and the Invesco QQQ Trust (QQQ).

Notably, year-to-date inflows for GLD topped $10 billion as investors used the ETF to hedge against potential future inflation. Prices for gold were last trading just above $1,700/oz.

HYG has year-to-date inflows of $3.2 billion. The fund has been propped up by the Fed, which is using its powers to purchase individual ‘fallen angel’ junk bonds and broad junk bond ETFs.

Meanwhile, QQQ has seen surprisingly strong performance this year. Prices for the tech-heavy ETF are up 5.5% year-to-date, outperforming the 9% loss for the S&P 500. Assets under management for the fund topped $100 billion this week, making it the fifth ETF to pass that milestone.

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
HYG	iShares iBoxx USD High Yield Corporate Bond ETF	1,414.06	20,685.37	6.84%
GLD	SPDR Gold Trust	1,373.90	58,802.26	2.34%
QQQ	Invesco QQQ Trust	738.76	100,020.04	0.74%
XBI	SPDR S&P Biotech ETF	639.81	4,613.54	13.87%
AGG	iShares Core U.S. Aggregate Bond ETF	629.38	71,249.24	0.88%
XLV	Health Care Select Sector SPDR Fund	496.82	24,937.20	1.99%
BND	Vanguard Total Bond Market ETF	444.79	51,426.27	0.86%
XLP	Consumer Staples Select Sector SPDR Fund	415.28	14,602.04	2.84%
JPST	JPMorgan Ultra-Short Income ETF	409.21	10,355.36	3.95%
HYLB	Xtrackers USD High Yield Corporate Bond ETF	373.03	4,438.14	8.41%

Top 10 Redemptions (All ETFs)

Ticker	Name	Net Flows ($,mm)	AUM ($, mm)	AUM % Change
SPY	SPDR S&P 500 ETF Trust	-3,127.22	252,940.50	-1.24%
SDY	SPDR S&P Dividend ETF	-1,612.22	14,466.00	-11.14%
IVV	iShares Core S&P 500 ETF	-1,200.93	177,923.29	-0.67%
IWM	iShares Russell 2000 ETF	-1,164.62	32,849.61	-3.55%
EFA	iShares MSCI EAFE ETF	-1,140.60	43,512.55	-2.62%
ACWI	iShares MSCI ACWI ETF	-866.37	10,050.62	-8.62%
VWO	Vanguard FTSE Emerging Markets ETF	-815.19	49,970.33	-1.63%
EEM	iShares MSCI Emerging Markets ETF	-701.13	19,794.58	-3.54%
IEMG	iShares Core MSCI Emerging Markets ETF	-593.20	45,232.94	-1.31%
IWF	iShares Russell 1000 Growth ETF	-551.42	49,312.33	-1.12%

ETF Weekly Flows By Asset Class

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	-7,220.08	2,210,552.20	-0.33%
International Equity	-6,201.38	705,132.16	-0.88%
U.S. Fixed Income	6,372.38	804,274.82	0.79%
International Fixed Income	333.19	84,796.18	0.39%
Commodities ETFs	1,899.77	105,900.88	1.79%
Currency	-23.75	2,296.09	-1.03%
Leveraged	-572.32	32,496.28	-1.76%
Inverse	679.90	18,428.63	3.69%
Asset Allocation	-95.73	8,817.38	-1.09%
Alternatives	38.04	4,297.37	0.89%
Total:	-4,789.98	3,976,992.00	-0.12%

Asset Classes (Year-to-Date)

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	49,569.30	2,210,552.20	2.24%
International Equity	-14,635.43	705,132.16	-2.08%
U.S. Fixed Income	39,762.27	804,274.82	4.94%
International Fixed Income	-358.09	84,796.18	-0.42%
Commodities ETFs	23,980.32	105,900.88	22.64%
Currency	981.28	2,296.09	42.74%
Leveraged	7,587.47	32,496.28	23.35%
Inverse	10,558.95	18,428.63	57.30%
Asset Allocation	-35.77	8,817.38	-0.41%
Alternatives	-1,649.49	4,297.37	-38.38%
Total:	115,760.81	3,976,992.00	2.91%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker	Name	Average Volume (30 Day)	1 Week Average Volume	% of Average
BNDC	FlexShares Core Select Bond Fund	30,375	187,963	618.80%
PFEB	Innovator S&P 500 Power Buffer ETF - February	16,567	49,168	296.78%
CLTL	Invesco Treasury Collateral ETF	74,652	218,153	292.23%
HAWX	iShares Currency Hedged MSCI ACWI ex U.S. ETF	29,731	70,763	238.01%
JUST	Goldman Sachs JUST U.S. Large Cap Equity ETF	35,221	98,396	279.37%
GNMA	iShares GNMA Bond ETF	124,593	282,958	227.11%
NOCT	Innovator Nasdaq-100 Power Buffer ETF - October	15,036	33,233	221.01%
BTEC	Principal Healthcare Innovators Index ETF	3,342	6,490	194.20%
XITK	SPDR FactSet Innovative Technology ETF	11,166	23,749	212.70%
RGI	Invesco S&P 500 Equal Weight Industrials ETF	16,075	29,856	185.73%

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

Ticker	Name	Weekly Performance	Weekly Volume	AUM ($, mm)
UGA	United States Gasoline Fund LP	15.10%	2,610,100	74.60
BNO	United States Brent Oil Fund LP	12.57%	14,906,396	315.12
OILK	ProShares K-1 Free Crude Oil Strategy ETF	11.51%	828,980	52.01
BBC	Virtus LifeSci Biotech Clinical Trials ETF	10.98%	121,662	35.68
USO	United States Oil Fund LP	10.55%	62,668,352	3,788.56
IBUY	Amplify Online Retail ETF	9.44%	285,029	298.99
OLEM	iPath Pure Beta Crude Oil ETN	9.30%	39,778	6.15
SBIO	ALPS Medical Breakthroughs ETF	8.96%	143,505	185.63
BBP	Virtus LifeSci Biotech Products ETF	8.52%	16,495	25.18
BUYZ	Franklin Disruptive Commerce ETF	8.52%	21,313	2.72

Top 10 YTD Performers

Ticker	Name	YTD Performance	Weekly Performance	AUM ($, mm)
VIIX	VelocityShares Daily Long VIX Short-Term ETN	148.99%	-5.15%	61.26
VIXY	ProShares VIX Short-Term Futures ETF	148.35%	-4.74%	166.71
VXX	iPath Series B S&P 500 VIX Short Term Futures ETN	147.82%	-4.81%	618.88
XVZ	iPath S&P 500 Dynamic VIX ETN	97.74%	-0.67%	4.87
VIXM	ProShares VIX Mid-Term Futures ETF	88.12%	-1.91%	60.50
VXZ	iPath Series B S&P 500 VIX Mid-Term Futures ETN	87.65%	-1.64%	28.43
CLIX	ProShares Long Online/Short Stores ETF	39.00%	7.28%	147.66
ZROZ	PIMCO 25+ Year Zero Coupon US Treasury Index ETF	33.51%	-4.06%	357.94
EDV	Vanguard Extended Duration Treasury ETF	30.63%	-3.75%	1,698.98
MOM	AGFiQ U.S. Market Neutral Momentum Fund	27.42%	3.20%	4.37

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

| Contact: [email protected]

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.

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First Weekly ETF Outflow Since March

First Weekly ETF Outflow Since March

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