Fixed Income ETFs Dominate Weekly Inflows List

Senior ETF Analyst

Jun 05, 2020

Reviewed by: Sumit Roy

Edited by: Sumit Roy

Stock markets surged this week, bolstering demand for U.S. equity ETFs, but it was fixed income ETFs that took the majority of inflows. On net, $22.1 billion flowed into U.S.-listed ETFs during the week ending Thursday, June 4, according to FactSet. That pushed year-to-date inflows up to $160.1 billion, more than double the $75.2 billion seen at this same time a year ago.

The S&P 500 climbed to more than a three-month high this week, eclipsing 3,100 on Wednesday and 3,200 on Friday. The index is now up 43% from its March lows and trades just 5.5% below its all-time highs from February. About $5 billion of fresh cash entered U.S. equity ETFs this week, with the SPDR S&P 500 ETF Trust (SPY) leading the way.

Fixed Income Focus

That said, even as stocks surged, ETF investors focused most of their buying power on the fixed income space. U.S. fixed income ETFs gathered $13 billion of new money during the week, even as Treasury prices tumbled on the back of better-than-expected economic data.

The U.S. 10-year Treasury yield topped 0.9% for the first time since March 20, pushing prices for funds like the iShares 7-10 Year Treasury Bond ETF (IEF) lower (bond prices and yields move inversely). A shocking jobs report for May showed that the U.S. added 2.5 million jobs during the month as opposed to the 7.5 million job losses that were expected.

Yet, that same strong jobs report lent support to corporate bonds, where narrowing credit spreads more than offset the jump in Treasury yields. The iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD) and the iShares iBoxx USD High Yield Corporate Bond ETF (HYG) both traded near three-month highs. Each had inflows of more than $2.4 billion this week.

Altogether, fixed income ETFs made up seven of the 10 ETFs with the largest inflows this week. The only other ETFs on the list were the aforementioned SPY, the SPDR Gold Trust (GLD) and the Vanguard Total International Stock ETF (VXUS). Year-to-date inflows for GLD now stand at $12.9 billion.

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
LQD	iShares iBoxx USD Investment Grade Corporate Bond ETF	2,738.07	51,952.98	5.27%
HYG	iShares iBoxx USD High Yield Corporate Bond ETF	2,450.42	27,375.83	8.95%
SPY	SPDR S&P 500 ETF Trust	1,674.85	276,367.51	0.61%
VCSH	Vanguard Short-Term Corporate Bond ETF	1,185.33	27,313.72	4.34%
AGG	iShares Core U.S. Aggregate Bond ETF	1,113.63	73,240.36	1.52%
JNK	SPDR Bloomberg Barclays High Yield Bond ETF	1,060.21	12,853.24	8.25%
BND	Vanguard Total Bond Market ETF	1,014.93	53,918.49	1.88%
VCIT	Vanguard Intermediate-Term Corporate Bond ETF	1,002.71	30,534.52	3.28%
GLD	SPDR Gold Trust	700.21	62,054.84	1.13%
VXUS	Vanguard Total International Stock ETF	649.29	20,540.31	3.16%

Top 10 Redemptions (All ETFs)

Ticker	Name	Net Flows ($,mm)	AUM ($, mm)	AUM % Change
QQQ	Invesco QQQ Trust	-2,059.72	108,867.76	-1.89%
SHV	iShares Short Treasury Bond ETF	-1,085.25	23,659.60	-4.59%
IEF	iShares 7-10 Year Treasury Bond ETF	-704.71	20,502.75	-3.44%
BIL	SPDR Bloomberg Barclays 1-3 Month T-Bill ETF	-549.19	18,049.52	-3.04%
VTV	Vanguard Value ETF	-545.94	49,935.47	-1.09%
TLT	iShares 20+ Year Treasury Bond ETF	-468.43	17,844.14	-2.63%
XBI	SPDR S&P Biotech ETF	-391.30	4,572.01	-8.56%
SCHO	Schwab Short-Term U.S. Treasury ETF	-335.86	7,124.40	-4.71%
MDYV	SPDR S&P 400 Mid Cap Value ETF	-327.81	1,121.12	-29.24%
GOVT	iShares U.S. Treasury Bond ETF	-322.54	13,764.29	-2.34%

ETF Weekly Flows By Asset Class

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	4,969.14	2,464,722.83	0.20%
International Equity	1,730.29	785,574.98	0.22%
U.S. Fixed Income	12,968.60	847,141.18	1.53%
International Fixed Income	1,292.29	90,036.38	1.44%
Commodities ETFs	1,441.18	115,844.12	1.24%
Currency	-46.40	1,935.23	-2.40%
Leveraged	-72.50	34,082.83	-0.21%
Inverse	-289.32	16,280.42	-1.78%
Asset Allocation	21.23	9,705.98	0.22%
Alternatives	50.83	4,479.19	1.13%
Total:	22,065.35	4,369,803.14	0.50%

Asset Classes (Year-to-Date)

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	58,858.69	2,464,722.83	2.39%
International Equity	-16,596.01	785,574.98	-2.11%
U.S. Fixed Income	71,964.13	847,141.18	8.49%
International Fixed Income	2,428.27	90,036.38	2.70%
Commodities ETFs	29,318.01	115,844.12	25.31%
Currency	643.91	1,935.23	33.27%
Leveraged	3,192.40	34,082.83	9.37%
Inverse	11,384.62	16,280.42	69.93%
Asset Allocation	248.74	9,705.98	2.56%
Alternatives	-1,331.10	4,479.19	-29.72%
Total:	160,111.65	4,369,803.14	3.66%

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

Ticker	Name	Weekly Performance	Weekly Volume	AUM ($, mm)
PGMFF	iPath Bloomberg Platinum Subindex Total Return ETN	59.86%	1,981	2.22
EWZS	iShares MSCI Brazil Small-Cap ETF	17.20%	517,006	115.16
BRF	VanEck Vectors Brazil Small-Cap ETF	15.19%	46,798	52.44
JETS	US Global Jets ETF	13.85%	15,793,589	1,157.13
EIDO	iShares MSCI Indonesia ETF	13.69%	3,305,518	332.11
ICOL	iShares MSCI Colombia ETF	12.77%	60,288	21.81
FLBR	Franklin FTSE Brazil ETF	12.60%	28,524	134.54
IDX	VanEck Vectors Indonesia Index ETF	12.53%	143,180	29.09
ILF	iShares Latin America 40 ETF	12.38%	6,569,417	849.19
KBWY	Invesco KBW Premium Yield Equity REIT ETF	12.19%	191,100	184.91

Top 10 YTD Performers

Ticker	Name	YTD Performance	Weekly Performance	AUM ($, mm)
VXX	iPath Series B S&P 500 VIX Short Term Futures ETN	103.97%	-6.16%	671.35
VIIX	VelocityShares Daily Long VIX Short-Term ETN	103.55%	-6.35%	46.61
VIXY	ProShares VIX Short-Term Futures ETF	103.38%	-6.52%	181.98
XVZ	iPath S&P 500 Dynamic VIX ETN	92.21%	-0.88%	5.90
VIXM	ProShares VIX Mid-Term Futures ETF	79.24%	-3.11%	64.11
VXZ	iPath Series B S&P 500 VIX Mid-Term Futures ETN	78.60%	-2.98%	26.22
GRNTF	iPath Global Carbon ETN	74.64%	-6.05%	5.08
CLIX	ProShares Long Online/Short Stores ETF	37.67%	-0.86%	184.92
WCLD	WisdomTree Cloud Computing Fund	37.26%	3.57%	199.71
ARKG	ARK Genomic Revolution ETF	34.73%	1.21%	1,083.58

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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Fixed Income ETFs Dominate Weekly Inflows List

Fixed Income ETFs Dominate Weekly Inflows List

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