Fixed Income ETFs Dominate Weekly Inflows List
Investors gobbled up fixed income ETFs despite a sell-off in Treasuries.
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.