Fixed Income ETFs Power Weekly Flows Of $8.2B

'GBIL,' 'TLT' and 'HYG' were some of the fixed-income winners this week.

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

Overall, $8.2 billion flowed into U.S.-listed ETFs during the week ending Thursday, July 13, according to the latest data from FactSet. With the exception of commodities, which had outflows of $500 million, most other segments saw net inflows.

That includes U.S. equity ETFs, which picked up $3.5 billion of new money from investors as the S&P 500 zoomed to a fresh record high. The index was last trading around 2,460, up 10.5% year-to-date.

Dovish comments from Fed Chair Janet Yellen in front of Congress raised speculation that the central bank may lift rates more slowly than expected. Yellen said that inflation was still quite low and that the federal funds rate won't have to rise much more to get to a neutral policy stance.

Those dovish comments also sparked buying in bond markets. The U.S. 10-year Treasury yield dipped 7 basis points week-over-week to 2.32% (bond prices and yields move inversely). U.S. fixed-income ETFs had the largest inflows of the period, with creations totaling $3.8 billion.

The only other segment to see notable inflows was international equity ETFs, with creations of $1.6 billion. Year-to-date, net inflows for all ETFs equals $259.3 billion.

Surge Of Demand For 'GBIL' 
Easily taking the No. 1 spot on the weekly inflows list was the PowerShares QQQ Trust (QQQ). Its $2.9 billion worth of inflows beat out the iShares Core MSCI EAFE ETF (IEFA), which gathered $1.7 billion of its own. 

A host of fixed-income ETFs also made the top 10, including the iShares 20+ Year Treasury Bond ETF (TLT), the iShares iBoxx $ High Yield Corporate Bond ETF (HYG), the iShares Core U.S. Aggregate Bond ETF (AGG), the iShares Short Treasury Bond ETF (SHV) and the SPDR Bloomberg Barclays Convertible Securities ETF (CWB). Each had inflows of $250 million to $600 million during the period. 

But the biggest standout among fixed-income ETFs was the Goldman Sachs TreasuryAccess 0-1 Year ETF (GBIL). This ETF had inflows of $450 million, equal to a whopping 500% jump in its assets under management. 

DBEF Assets Plunge
Meanwhile, on the outflows side, this week's biggest loser was the Deutsche X-trackers MSCI EAFE Hedged Equity ETF (DBEF), with redemptions of $1.1 billion. Despite the enthusiasm about international equity ETFs this year, DBEF has largely been shunned by investors.

The iShares MSCI Japan ETF (EWJ), with outflows of $807 million, was another international equity ETF to fall out of favor during the week.

On the fixed-income front, the iShares JP Morgan USD Emerging Markets Bond ETF (EMB), had the largest outflows, at $270 million. 

The SPDR Gold Trust (GLD), with outflows of $453 million, was another notable loser.

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
QQQPowerShares QQQ Trust2,879.0753,819.435.65%
IEFAiShares Core MSCI EAFE ETF1,664.5831,446.025.59%
TLTiShares 20+ Year Treasury Bond ETF567.138,046.357.58%
IVViShares Core S&P 500 ETF525.47117,625.830.45%
GBILGoldman Sachs TreasuryAccess 0-1 Year ETF450.02540.05499.82%
HYGiShares iBoxx $ High Yield Corporate Bond ETF341.7618,035.091.93%
AGGiShares Core U.S. Aggregate Bond ETF337.5548,003.130.71%
SHViShares Short Treasury Bond ETF297.755,381.675.86%
CWBSPDR Bloomberg Barclays Convertible Securities ETF253.634,258.506.33%
IWOiShares Russell 2000 Growth ETF245.168,117.173.11%

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
DBEFDeutsche X-trackers MSCI EAFE Hedged Equity ETF-1,116.567,504.12-12.95%
SPYSPDR S&P 500 ETF Trust-1,059.77236,445.30-0.45%
EWJiShares MSCI Japan ETF-806.8916,460.33-4.67%
GLDSPDR Gold Trust-452.7932,474.34-1.38%
IYRiShares U.S. Real Estate ETF-373.234,372.92-7.86%
IWMiShares Russell 2000 ETF-365.6337,307.41-0.97%
EMBiShares JP Morgan USD Emerging Markets Bond ETF-270.4611,717.68-2.26%
XRTSPDR S&P Retail ETF-260.25148.39-63.69%
JNKSPDR Bloomberg Barclays High Yield Bond ETF-239.2311,656.65-2.01%
IWDiShares Russell 1000 Value ETF-190.9136,384.37-0.52%

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity3,482.311,676,385.230.21%
International Equity1,639.93679,399.710.24%
U.S. Fixed Income3,760.97481,026.990.78%
International Fixed Income-125.2851,329.60-0.24%
Commodities-498.3161,233.00-0.81%
Currency-9.771,476.48-0.66%
Leveraged219.2528,651.150.77%
Inverse-225.9616,336.06-1.38%
Asset Allocation32.107,264.410.44%
Alternatives-25.613,743.86-0.68%
Total:8,249.613,006,846.490.27%

Top 10 Volume Surprises, Funds >$50 mm AUM

TickerNameAverage Volume
(30 Day)
1 Week Average
Volume
% of Average
LTPZPIMCO 15+ Year US TIPS Index ETF48,058251,476523.27%
HOLDAdvisorShares Sage Core Reserves ETF5261,413268.55%
EUSCWisdomTree Europe Hedged SmallCap Equity Fund53,369160,911301.51%
JJCiPath Bloomberg Copper Subindex Total Return ETN58,735160,376273.05%
FEMSFirst Trust Emerging Markets Small Cap AlphaDEX Fund50,030192,445384.66%
DBEMDeutsche X-trackers MSCI Emerging Markets Hedged Equity ETF58,228160,930276.38%
MLPOCredit Suisse S&P MLP Index ETN25100393.66%
DEWWisdomTree Global High Dividend Fund5,28711,768222.58%
SJBProShares Short High Yield142,044562,218395.81%
EEMSiShares MSCI Emerging Markets Small Cap ETF33,96271,943211.83%

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.