Fixed Income ETF Inflows Offset Equity Outflows
ETFs eked out net inflows of $3.7 billion this week.
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 $15.3 billion.
Equity ETF Outflows
On the flip side, U.S. equity ETFs struggled as investors weighed rising coronavirus concerns against expectations of virus treatments and vaccines in the months ahead. The Vanguard S&P 500 ETF (VOO) and the iShares Russell Mid-Cap Growth ETF (IWP) managed to pick up solid inflows during the week.
But those were more than offset by outflows from the Schwab U.S. Dividend Equity ETF (SCHD), the Vanguard Small-Cap ETF (VB), the Technology Select Sector SPDR Fund (XLK) and others.
For a full list of this week's top inflows and outflows, see the tables below:
Top 10 Creations (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
VOO | Vanguard S&P 500 ETF | 3,314.41 | 145,763.19 | 2.27% |
IWP | iShares Russell Mid-Cap Growth ETF | 2,549.66 | 14,439.04 | 17.66% |
VCIT | Vanguard Intermediate-Term Corporate Bond ETF | 2,251.49 | 35,468.85 | 6.35% |
GLD | SPDR Gold Trust | 2,183.12 | 66,722.35 | 3.27% |
SPY | SPDR S&P 500 ETF Trust | 2,050.68 | 270,087.73 | 0.76% |
SCHP | Schwab U.S. TIPS ETF | 1,607.62 | 9,827.66 | 16.36% |
IWR | iShares Russell Mid-Cap ETF | 1,503.98 | 20,631.22 | 7.29% |
SCHX | Schwab U.S. Large-Cap ETF | 835.37 | 19,992.78 | 4.18% |
SCHA | Schwab U.S. Small-Cap ETF | 759.88 | 8,772.11 | 8.66% |
VCSH | Vanguard Short-Term Corporate Bond ETF | 741.25 | 28,631.42 | 2.59% |
Top 10 Redemptions (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
SCHD | Schwab U.S. Dividend Equity ETF | -2,304.38 | 10,871.64 | -21.20% |
VTI | Vanguard Total Stock Market ETF | -1,984.08 | 141,800.77 | -1.40% |
SCHR | Schwab Intermediate-Term U.S. Treasury ETF | -1,592.85 | 3,585.35 | -44.43% |
VB | Vanguard Small-Cap ETF | -1,439.45 | 26,220.27 | -5.49% |
FNDX | Schwab Fundamental U.S. Large Company Index ETF | -1,225.95 | 4,509.27 | -27.19% |
VO | Vanguard Mid-Cap ETF | -1,169.46 | 31,410.49 | -3.72% |
VUG | Vanguard Growth ETF | -873.94 | 55,036.16 | -1.59% |
SCHH | Schwab U.S. REIT ETF | -820.95 | 4,204.40 | -19.53% |
VBK | Vanguard Small-Cap Growth ETF | -766.42 | 10,262.00 | -7.47% |
XLK | Technology Select Sector SPDR Fund | -640.53 | 30,401.02 | -2.11% |
ETF Weekly Flows By Asset Class
Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
U.S. Equity | -5,780.91 | 2,402,990.65 | -0.24% |
International Equity | -369.62 | 781,858.11 | -0.05% |
U.S. Fixed Income | 6,932.05 | 867,042.41 | 0.80% |
International Fixed Income | 292.44 | 92,086.04 | 0.32% |
Commodities ETFs | 2,444.23 | 122,306.62 | 2.00% |
Currency | -86.00 | 1,547.36 | -5.56% |
Leveraged | -300.11 | 35,707.58 | -0.84% |
Inverse | 453.20 | 15,520.26 | 2.92% |
Asset Allocation | 32.39 | 9,719.10 | 0.33% |
Alternatives | 81.76 | 4,457.78 | 1.83% |
Total: | 3,699.42 | 4,333,235.91 | 0.09% |
Asset Classes (Year-to-Date)
Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
U.S. Equity | 75,093.70 | 2,402,990.65 | 3.13% |
International Equity | -10,864.98 | 781,858.11 | -1.39% |
U.S. Fixed Income | 87,408.42 | 867,042.41 | 10.08% |
International Fixed Income | 3,810.02 | 92,086.04 | 4.14% |
Commodities ETFs | 32,415.45 | 122,306.62 | 26.50% |
Currency | 232.59 | 1,547.36 | 15.03% |
Leveraged | 3,974.52 | 35,707.58 | 11.13% |
Inverse | 11,276.01 | 15,520.26 | 72.65% |
Asset Allocation | 377.69 | 9,719.10 | 3.89% |
Alternatives | -1,289.55 | 4,457.78 | -28.93% |
Total: | 202,433.88 | 4,333,235.91 | 4.67% |
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
GAZZF | iPath Bloomberg Natural Gas Subindex Total Return ETN | 233.33% | 10,256 | 0.00 |
PDEV | Principal International Multi-Factor Core Index ETF | 10.75% | 2,232 | 16.67 |
JJA-OLD | iPath Bloomberg Agriculture Subindex Total Return ETN | 10.53% | 1,500 | 16.67 |
ARKG | ARK Genomic Revolution ETF | 6.98% | 3,601,052 | 1,283.62 |
GRNTF | iPath Global Carbon ETN | 6.83% | 1,094 | 4.87 |
OILNF | iPath S&P GSCI Crude Oil Total Return ETN | 6.42% | 17,955 | 21.28 |
CHIK | Global X MSCI China Information Technology ETF | 5.94% | 33,672 | 12.06 |
GOEX | Global X Gold Explorers ETF | 5.01% | 96,726 | 44.77 |
NFTY | First Trust India NIFTY 50 Equal Weight ETF | 4.92% | 1,872 | 2.82 |
SGDJ | Sprott Junior Gold Miners ETF | 4.72% | 111,008 | 69.45 |
Top 10 YTD Performers
Ticker | Name | YTD Performance | Weekly Performance | AUM ($, mm) |
VIIX | VelocityShares Daily Long VIX Short-Term ETN | 135.67% | 0.13% | 54.78 |
VXX | iPath Series B S&P 500 VIX Short Term Futures ETN | 134.06% | -0.46% | 760.94 |
VIXY | ProShares VIX Short-Term Futures ETF | 132.98% | -0.33% | 207.17 |
XVZ | iPath S&P 500 Dynamic VIX ETN | 98.45% | 0.01% | 7.81 |
VIXM | ProShares VIX Mid-Term Futures ETF | 93.75% | 0.28% | 58.30 |
VXZ | iPath Series B S&P 500 VIX Mid-Term Futures ETN | 92.59% | 1.17% | 32.14 |
GRNTF | iPath Global Carbon ETN | 74.64% | 6.83% | 4.87 |
ARKG | ARK Genomic Revolution ETF | 56.47% | 6.98% | 1,283.62 |
WCLD | WisdomTree Cloud Computing Fund | 52.80% | 1.22% | 394.28 |
CLIX | ProShares Long Online/Short Stores ETF | 51.46% | 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.