Fixed Income Leads Weekly ETF Inflows

Sumit Roy

Senior ETF Analyst

May 29, 2020

Reviewed by: Sumit Roy

Edited by: Sumit Roy

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Another strong week of gains for U.S. stocks helped bolster weekly ETF inflows, but the majority of fresh assets flowed into fixed income products. On net, $6.7 billion of new money entered U.S.-listed ETFs during the week ending Thursday, May 28. That pushed year-to-date inflows up to $137.9 billion, ahead of the $66.9 billion seen at this same time last year.

Of this week's inflows, $1.5 billion headed for U.S. equity ETFs like the iShares Core S&P 500 ETF (IVV) and the iShares Core Dividend Growth ETF (DGRO). A fresh three-month high in the S&P 500 lent confidence to investors, who have now bid U.S. stocks up to just 10% below their all-time highs from February.

That confidence also extended to corporate bond ETFs, where investors and the Fed have been making purchases. About $1.7 billion went into the iShares iBoxx USD High Yield Corporate Bond ETF (HYG) and $1.1 billion flowed into the iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD) this week.

In the latest snapshot of its holdings, the Federal Reserve mentioned that it had purchased $3 billion of corporate bond ETFs, up from $1.8 billion last week.

Outflows From Custom Products

Meanwhile, on the outflows side, the Credit Suisse FI Large Cap Growth Enhanced ETN (FLGE), the Large Cap Growth Index-Linked ETN (FRLG) and the UBS AG FI Enhanced Large Cap Growth ETN (FBGX) each saw significant outflows, totaling more than $3.6 billion. The three are bespoke products created for Fisher Asset Management and offer 2x leveraged exposure to the Russell 1000.

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
HYG	iShares iBoxx USD High Yield Corporate Bond ETF	1,707.50	24,444.18	6.99%
LQD	iShares iBoxx USD Investment Grade Corporate Bond ETF	1,093.50	48,998.00	2.23%
IVV	iShares Core S&P 500 ETF	1,068.43	189,632.30	0.56%
DGRO	iShares Core Dividend Growth ETF	904.86	10,478.82	8.64%
XLF	Financial Select Sector SPDR Fund	774.63	18,476.47	4.19%
AGG	iShares Core U.S. Aggregate Bond ETF	773.02	72,261.63	1.07%
XLI	Industrial Select Sector SPDR Fund	623.83	8,346.12	7.47%
VOO	Vanguard S&P 500 ETF	552.64	138,632.20	0.40%
VCSH	Vanguard Short-Term Corporate Bond ETF	455.67	26,044.25	1.75%
VUG	Vanguard Growth ETF	441.79	52,125.15	0.85%

Top 10 Redemptions (All ETFs)

Ticker	Name	Net Flows ($,mm)	AUM ($, mm)	AUM % Change
SPY	SPDR S&P 500 ETF Trust	-2,684.72	266,946.20	-1.01%
FLGE	Credit Suisse FI Large Cap Growth Enhanced ETN	-1,481.74	338.29	-438.01%
FRLG	Large Cap Growth Index-Linked ETN	-1,320.79	162.51	-812.75%
QQQ	Invesco QQQ Trust	-986.02	107,914.76	-0.91%
FBGX	UBS AG FI Enhanced Large Cap Growth ETN	-812.60	522.62	-155.48%
EFA	iShares MSCI EAFE ETF	-778.29	44,786.77	-1.74%
IWM	iShares Russell 2000 ETF	-515.59	38,050.48	-1.36%
XLU	Utilities Select Sector SPDR Fund	-425.34	11,121.56	-3.82%
IGV	iShares Expanded Tech-Software Sector ETF	-387.16	3,890.76	-9.95%
SHV	iShares Short Treasury Bond ETF	-376.73	24,763.78	-1.52%

ETF Weekly Flows By Asset Class

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	1,528.45	2,386,447.06	0.06%
International Equity	-945.05	740,898.27	-0.13%
U.S. Fixed Income	7,412.14	832,758.31	0.89%
International Fixed Income	466.17	88,168.09	0.53%
Commodities ETFs	786.99	112,649.45	0.70%
Currency	-11.45	2,005.65	-0.57%
Leveraged	-2,922.31	32,483.05	-9.00%
Inverse	267.37	17,123.02	1.56%
Asset Allocation	234.91	9,463.98	2.48%
Alternatives	-81.70	4,446.61	-1.84%
Total:	6,735.51	4,226,443.50	0.16%

Asset Classes (Year-to-Date)

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	53,877.98	2,386,447.06	2.26%
International Equity	-18,341.88	740,898.27	-2.48%
U.S. Fixed Income	58,983.45	832,758.31	7.08%
International Fixed Income	1,136.04	88,168.09	1.29%
Commodities ETFs	27,876.83	112,649.45	24.75%
Currency	694.70	2,005.65	34.64%
Leveraged	3,196.18	32,483.05	9.84%
Inverse	11,673.94	17,123.02	68.18%
Asset Allocation	226.79	9,463.98	2.40%
Alternatives	-1,381.92	4,446.61	-31.08%
Total:	137,942.11	4,226,443.50	3.26%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker	Name	Average Volume (30 Day)	1 Week Average Volume	% of Average
FFIU	UVA Unconstrained Medium-Term Fixed Income ETF	10,277	67,924	660.96%
AVDV	Avantis International Small Cap Value ETF	44,473	281,246	632.40%
HERO	Global X Video Games & Esports ETF	121,719	602,949	495.36%
USSG	Xtrackers MSCI U.S.A. ESG Leaders Equity ETF	611,177	2,716,955	444.54%
VFMV	Vanguard U.S. Minimum Volatility ETF	10,374	38,495	371.09%
FLLV	Franklin Liberty U.S. Low Volatility ETF	21,256	71,808	337.83%
MDYG	SPDR S&P 400 Mid Cap Growth ETF	483,162	1,497,694	309.98%
TPYP	Tortoise North American Pipeline Fund	203,399	617,230	303.46%
PJAN	Innovator S&P 500 Power Buffer ETF - January	32,863	105,013	319.55%
IBDD	iShares iBonds Mar 2023 Term Corporate ETF	7,261	19,094	262.98%

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

Ticker	Name	Weekly Performance	Weekly Volume	AUM ($, mm)
MLTI	Credit Suisse X-Links Multi-Asset High Income ETN	49.76%	2,706	5.47
JETS	US Global Jets ETF	16.72%	21,741,010	951.42
KRE	SPDR S&P Regional Banking ETF	16.26%	42,071,091	1,125.40
KBWB	Invesco KBW Bank ETF	15.86%	6,157,339	493.51
KBE	SPDR S&P Bank ETF	15.71%	12,981,258	1,345.35
IAT	iShares U.S. Regional Banks ETF	15.70%	668,536	237.42
FBZ	First Trust Brazil AlphaDEX Fund	15.68%	36,421	7.73
KBWR	Invesco KBW Regional Banking ETF	15.24%	28,269	34.91
FTXO	First Trust Nasdaq Bank ETF	14.92%	220,478	68.40
QABA	First Trust NASDAQ ABA Community Bank Index Fund	14.69%	74,377	77.31

Top 10 YTD Performers

Ticker	Name	YTD Performance	Weekly Performance	AUM ($, mm)
VXX	iPath Series B S&P 500 VIX Short Term Futures ETN	128.04%	-3.49%	670.60
VIIX	VelocityShares Daily Long VIX Short-Term ETN	127.07%	-3.50%	49.32
VIXY	ProShares VIX Short-Term Futures ETF	126.95%	-3.55%	171.82
XVZ	iPath S&P 500 Dynamic VIX ETN	93.01%	-1.22%	5.92
VIXM	ProShares VIX Mid-Term Futures ETF	87.18%	-2.33%	61.03
VXZ	iPath Series B S&P 500 VIX Mid-Term Futures ETN	85.96%	-2.12%	26.91
GRNTF	iPath Global Carbon ETN	74.64%	0.00%	4.90
ARKG	ARK Genomic Revolution ETF	35.11%	-6.88%	1,038.43
CLIX	ProShares Long Online/Short Stores ETF	34.63%	-6.33%	172.66
WCLD	WisdomTree Cloud Computing Fund	31.51%	-2.40%	152.47

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 Leads Weekly ETF Inflows

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