First Weekly ETF Outflows In 6 Weeks

Investors pulled $9.7 billion from U.S.-listed ETFs this week.

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

Renewed trade tensions spooked investors into pulling money out of ETFs for the first time in six weeks. All told, $9.7 billion flowed out of U.S.-listed ETFs during the week ending Thursday, May 9.

Nearly all of that money came out of U.S. equity ETFs, which were hit hard after President Trump threatened to impose higher tariffs on Chinese goods because trade talks were progressing too slowly, in his view. The president followed through on that threat on Friday and in response, China promised to retaliate.

The S&P 500 dropped nearly 4.5% from its all-time high set last week, but losses were relatively contained as investors hoped that the latest trade riff would resolve itself in the not-too-distant future.

Nevertheless, the SPDR S&P 500 ETF Trust (SPY) faced the brunt of this week’s outflows, shedding $9.4 billion. The Invesco QQQ Trust (QQQ) also fared poorly, with outflows of $2 billion.

Fixed Income Inflows

With stocks reeling, investors plowed money into safe havens like bonds this week. U.S. fixed income ETFs picked up a net $1.3 billion in fresh cash, with a few hundred million dollars heading into the iShares Broad USD High Yield Corporate Bond ETF (USHY), the Vanguard Intermediate-Term Corporate Bond ETF (VCIT) and the iShares Short-Term Corporate Bond ETF (IGSB).

Fixed income losers included the iShares iBoxx USD High Yield Corporate Bond ETF (HYG) and the SPDR Bloomberg Barclays High Yield Bond ETF (JNK).

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
XLFFinancial Select Sector SPDR Fund786.8625,750.243.06%
XLUUtilities Select Sector SPDR Fund541.999,434.295.74%
VOOVanguard S&P 500 ETF523.24111,584.810.47%
XLPConsumer Staples Select Sector SPDR Fund509.2611,425.144.46%
USHYiShares Broad USD High Yield Corporate Bond ETF370.021,235.9129.94%
IEFAiShares Core MSCI EAFE ETF343.1763,298.720.54%
VWOVanguard FTSE Emerging Markets ETF206.7763,673.440.32%
BBJPJPMorgan BetaBuilders Japan ETF200.803,623.785.54%
VCITVanguard Intermediate-Term Corporate Bond ETF199.0223,578.370.84%
IGSBiShares Short-Term Corporate Bond ETF191.9911,412.661.68%

 

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
SPYSPDR S&P 500 ETF Trust-9,384.69266,699.16-3.52%
QQQInvesco QQQ Trust-1,991.2372,476.59-2.75%
HYGiShares iBoxx USD High Yield Corporate Bond ETF-534.6916,109.79-3.32%
EWJiShares MSCI Japan ETF-524.9413,504.56-3.89%
XLEEnergy Select Sector SPDR Fund-514.3712,218.47-4.21%
XLBMaterials Select Sector SPDR Fund-469.783,466.39-13.55%
IYRiShares U.S. Real Estate ETF-377.793,838.41-9.84%
JNKSPDR Bloomberg Barclays High Yield Bond ETF-356.059,258.10-3.85%
EMLCVanEck Vectors J.P. Morgan EM Local Currency Bond ETF-329.404,974.06-6.62%
UVXYProShares Ultra VIX Short-Term Futures ETF-298.67496.98-60.10%

 

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity-9,667.052,191,287.78-0.44%
International Equity-74.77822,954.94-0.01%
U.S. Fixed Income1,324.93642,465.120.21%
International Fixed Income-365.4873,753.92-0.50%
Commodities -421.0961,529.09-0.68%
Currency-24.921,447.67-1.72%
Leveraged-124.5037,792.13-0.33%
Inverse-277.4811,505.60-2.41%
Asset Allocation16.759,504.480.18%
Alternatives-133.575,821.04-2.29%
Total:-9,747.183,858,061.75-0.25%

 

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity18,582.022,191,287.780.85%
International Equity12,487.48822,954.941.52%
U.S. Fixed Income35,721.99642,465.125.56%
International Fixed Income6,194.3373,753.928.40%
Commodities ETFs-2,501.0461,529.09-4.06%
Currency-337.401,447.67-23.31%
Leveraged-1,960.2437,792.13-5.19%
Inverse2,427.0011,505.6021.09%
Asset Allocation-529.309,504.48-5.57%
Alternatives821.135,821.0414.11%
Total:70,905.983,858,061.751.84%

 

Top 10 Volume Surprises, Funds >$50 mm AUM

TickerNameAverage Volume
(30 Day)
1 Week Average
Volume
% of Average
HYUPXtrackers High Beta High Yield Bond ETF7,00721,394305.33%
PTEUPacer Trendpilot European Index ETF49,962166,121332.49%
QUSSPDR MSCI USA StrategicFactors ETF47,914135,005281.77%
IMTMiShares Edge MSCI Intl Momentum Factor ETF29,59870,396237.84%
FVCFirst Trust Dorsey Wright Dynamic Focus 5 ETF81,599213,143261.21%
ISRAVanEck Vectors Israel ETF2,0184,870241.27%
AGZDWisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund10,01323,039230.08%
CUTInvesco MSCI Global Timber ETF18,92840,464213.78%
QQQEDirexion NASDAQ-100 Equal Weighted Index Shares45,41299,173218.38%
GVIiShares Intermediate Government/Credit Bond ETF74,213200,533270.21%

 

 

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.