Fixed Income ETF Inflows Offset Equity Outflows

ETFs eked out net inflows of $3.7 billion 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

Stocks swung lower this week, but ETFs still managed to eke out net inflows for the period thanks to solid demand for fixed income funds. According to FactSet, about $3.7 billion flowed into U.S.-listed ETFs during the week ending Thursday, June 25, pushing year-to-date inflows up to $202.4 billion, ahead of the $132.9 billion seen at this same time a year ago.

About $6.9 billion headed for U.S. fixed income ETFs and $2.4 billion went into commodity ETFs, offsetting the $5.8 billion that investors pulled from U.S. equity ETFs.

Spiking coronavirus cases across the U.S. triggered demand for relatively safe assets like bonds and gold. The Vanguard Intermediate-Term Corporate Bond ETF (VCIT) and the SPDR Gold Trust (GLD) had weekly inflows of around $2.2 billion each. 

Demand for gold ETFs in 2020 has been impressive. Prices for the precious metal popped to a seven-year high above $1,770/oz this week as GLD's year-to-date inflows hit $15.3 billion.

Equity ETF Outflows 

On the flip side, U.S. equity ETFs struggled as investors weighed rising coronavirus concerns against expectations of virus treatments and vaccines in the months ahead. The Vanguard S&P 500 ETF (VOO) and the iShares Russell Mid-Cap Growth ETF (IWP) managed to pick up solid inflows during the week.

But those were more than offset by outflows from the Schwab U.S. Dividend Equity ETF (SCHD), the Vanguard Small-Cap ETF (VB), the Technology Select Sector SPDR Fund (XLK) and others. 

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
VOOVanguard S&P 500 ETF3,314.41145,763.192.27%
IWPiShares Russell Mid-Cap Growth ETF2,549.6614,439.0417.66%
VCITVanguard Intermediate-Term Corporate Bond ETF2,251.4935,468.856.35%
GLDSPDR Gold Trust2,183.1266,722.353.27%
SPYSPDR S&P 500 ETF Trust2,050.68270,087.730.76%
SCHPSchwab U.S. TIPS ETF1,607.629,827.6616.36%
IWRiShares Russell Mid-Cap ETF1,503.9820,631.227.29%
SCHXSchwab U.S. Large-Cap ETF835.3719,992.784.18%
SCHASchwab U.S. Small-Cap ETF759.888,772.118.66%
VCSHVanguard Short-Term Corporate Bond ETF741.2528,631.422.59%

 

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
SCHDSchwab U.S. Dividend Equity ETF-2,304.3810,871.64-21.20%
VTIVanguard Total Stock Market ETF-1,984.08141,800.77-1.40%
SCHRSchwab Intermediate-Term U.S. Treasury ETF-1,592.853,585.35-44.43%
VBVanguard Small-Cap ETF-1,439.4526,220.27-5.49%
FNDXSchwab Fundamental U.S. Large Company Index ETF-1,225.954,509.27-27.19%
VOVanguard Mid-Cap ETF-1,169.4631,410.49-3.72%
VUGVanguard Growth ETF-873.9455,036.16-1.59%
SCHHSchwab U.S. REIT ETF-820.954,204.40-19.53%
VBKVanguard Small-Cap Growth ETF-766.4210,262.00-7.47%
XLKTechnology Select Sector SPDR Fund-640.5330,401.02-2.11%

 

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity-5,780.912,402,990.65-0.24%
International Equity-369.62781,858.11-0.05%
U.S. Fixed Income6,932.05867,042.410.80%
International Fixed Income292.4492,086.040.32%
Commodities ETFs2,444.23122,306.622.00%
Currency-86.001,547.36-5.56%
Leveraged-300.1135,707.58-0.84%
Inverse453.2015,520.262.92%
Asset Allocation32.399,719.100.33%
Alternatives81.764,457.781.83%
Total:3,699.424,333,235.910.09%

 

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity75,093.702,402,990.653.13%
International Equity-10,864.98781,858.11-1.39%
U.S. Fixed Income87,408.42867,042.4110.08%
International Fixed Income3,810.0292,086.044.14%
Commodities ETFs32,415.45122,306.6226.50%
Currency232.591,547.3615.03%
Leveraged3,974.5235,707.5811.13%
Inverse11,276.0115,520.2672.65%
Asset Allocation377.699,719.103.89%
Alternatives-1,289.554,457.78-28.93%
Total:202,433.884,333,235.914.67%

 

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

TickerNameWeekly PerformanceWeekly VolumeAUM ($, mm)
GAZZFiPath Bloomberg Natural Gas Subindex Total Return ETN233.33%10,2560.00
PDEVPrincipal International Multi-Factor Core Index ETF10.75%2,23216.67
JJA-OLDiPath Bloomberg Agriculture Subindex Total Return ETN10.53%1,50016.67
ARKGARK Genomic Revolution ETF6.98%3,601,0521,283.62
GRNTFiPath Global Carbon ETN6.83%1,0944.87
OILNFiPath S&P GSCI Crude Oil Total Return ETN6.42%17,95521.28
CHIKGlobal X MSCI China Information Technology ETF5.94%33,67212.06
GOEXGlobal X Gold Explorers ETF5.01%96,72644.77
NFTYFirst Trust India NIFTY 50 Equal Weight ETF4.92%1,8722.82
SGDJSprott Junior Gold Miners ETF4.72%111,00869.45

 

Top 10 YTD Performers

TickerNameYTD PerformanceWeekly PerformanceAUM ($, mm)
VIIXVelocityShares Daily Long VIX Short-Term ETN135.67%0.13%54.78
VXXiPath Series B S&P 500 VIX Short Term Futures ETN134.06%-0.46%760.94
VIXYProShares VIX Short-Term Futures ETF132.98%-0.33%207.17
XVZiPath S&P 500 Dynamic VIX ETN98.45%0.01%7.81
VIXMProShares VIX Mid-Term Futures ETF93.75%0.28%58.30
VXZiPath Series B S&P 500 VIX Mid-Term Futures ETN92.59%1.17%32.14
GRNTFiPath Global Carbon ETN74.64%6.83%4.87
ARKGARK Genomic Revolution ETF56.47%6.98%1,283.62
WCLDWisdomTree Cloud Computing Fund52.80%1.22%394.28
CLIXProShares Long Online/Short Stores ETF51.46%1.39%188.16

 

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.