‘GLD’ Powers Weekly Inflows To $3.5B
Gold and fixed income ETFs offset net outflows from equity ETFs.
Investors continued loading up on fixed income ETFs this week as the trade war standoff continued. On net, $3.5 billion flowed into U.S.-listed ETFs during the week ending Thursday, Aug. 29. Year to date inflows now stand at $144.4 billion, less than the $172.9 billion at this same time last year.
Most of the net inflows for the week—$4.5 billion—went into U.S. fixed income products. That was followed by $1.4 billion into commodities ETFs and $566 million into international fixed income ETFs.
U.S. equity ETFs and international equity ETFs weren’t as popular this week. Those segments registered net outflows of $400 million and $2.7 billion, respectively, as trade war and recession concerns weighed on sentiment.
‘GLD’ Rakes In The Cash
This week’s top inflows list was dominated by Treasury ETFs. But the No. 1 position belonged to another safe-haven play: the SPDR Gold Trust (GLD), with inflows of $1.2 billion. For the year as a whole, GLD has now seen net inflows of $4.4 billion.
Following GLD on the list were several Treasury ETFs. The iShares U.S. Treasury Bond ETF (GOVT), the iShares 20+ Year Treasury Bond ETF (TLT), the Schwab U.S. TIPS ETF (SCHP) and the iShares 1-3 Year Treasury Bond ETF (SHY) each had net inflows of more than $380 million for the week.
Treasury bond yields remained depressed this week. The 30-year briefly hit a record low, while the 10-year Treasury approached within 10 basis points of its all-time low from 2016.
Equity ETFs Shunned
Meanwhile, on the outflows list, broad equity ETFs took most of the top spots. The iShares MSCI EAFE ETF (EFA), the iShares Core S&P 500 ETF (IVV) and the iShares Russell 2000 ETF (IWM) each had net outflows of $729 million or more.
Investors also shunned the WisdomTree Floating Rate Treasury Fund (USFR), an ETF that tends to lose its appeal in a falling-rate environment.
For a full list of this week’s top inflows and outflows, see the tables below:
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| GLD | SPDR Gold Trust | 1,239.67 | 43,495.59 | 2.85% |
| GOVT | iShares U.S. Treasury Bond ETF | 673.42 | 14,006.96 | 4.81% |
| TLT | iShares 20+ Year Treasury Bond ETF | 595.46 | 16,834.95 | 3.54% |
| SCHP | Schwab U.S. TIPS ETF | 462.33 | 8,143.06 | 5.68% |
| SHY | iShares 1-3 Year Treasury Bond ETF | 382.53 | 17,683.64 | 2.16% |
| USMV | iShares Edge MSCI Min Vol U.S.A. ETF | 373.19 | 33,048.55 | 1.13% |
| JNK | SPDR Bloomberg Barclays High Yield Bond ETF | 347.38 | 9,279.22 | 3.74% |
| SPAB | SPDR Portfolio Aggregate Bond ETF | 342.16 | 4,894.52 | 6.99% |
| MINT | PIMCO Enhanced Short Maturity Active ETF | 334.61 | 12,479.22 | 2.68% |
| XLP | Consumer Staples Select Sector SPDR Fund | 299.02 | 13,860.80 | 2.16% |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| EFA | iShares MSCI EAFE ETF | -975.63 | 56,869.65 | -1.72% |
| IVV | iShares Core S&P 500 ETF | -892.20 | 179,457.43 | -0.50% |
| USFR | WisdomTree Floating Rate Treasury Fund | -736.34 | 1,686.46 | -43.66% |
| IWM | iShares Russell 2000 ETF | -729.05 | 39,340.51 | -1.85% |
| BIL | SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | -631.85 | 9,061.43 | -6.97% |
| BBEU | JPMorgan BetaBuilders Europe ETF | -525.36 | 3,705.65 | -14.18% |
| EEM | iShares MSCI Emerging Markets ETF | -429.71 | 24,149.15 | -1.78% |
| SCHB | Schwab U.S. Broad Market ETF | -391.63 | 14,674.42 | -2.67% |
| XLV | Health Care Select Sector SPDR Fund | -303.51 | 16,729.94 | -1.81% |
| MDY | SPDR S&P Midcap 400 ETF Trust | -284.72 | 18,056.73 | -1.58% |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | -403.45 | 2,205,352.38 | -0.02% |
| International Equity | -2,738.62 | 774,359.29 | -0.35% |
| U.S. Fixed Income | 4,549.74 | 717,727.75 | 0.63% |
| International Fixed Income | 566.28 | 81,510.98 | 0.69% |
| Commodities | 1,436.72 | 80,193.65 | 1.79% |
| Currency | 1.96 | 1,485.28 | 0.13% |
| Leveraged | -60.37 | 35,999.43 | -0.17% |
| Inverse | 250.01 | 12,704.95 | 1.97% |
| Asset Allocation | 14.63 | 9,801.17 | 0.15% |
| Alternatives | -115.29 | 4,440.56 | -2.60% |
| Total: | 3,501.60 | 3,923,575.44 | 0.09% |
Asset Classes (Year-to-Date)
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | 47,622.52 | 2,205,352.38 | 2.16% |
| International Equity | -4,199.79 | 774,359.29 | -0.54% |
| U.S. Fixed Income | 84,913.59 | 717,727.75 | 11.83% |
| International Fixed Income | 11,074.94 | 81,510.98 | 13.59% |
| Commodities | 5,897.78 | 80,193.65 | 7.35% |
| Currency | -302.95 | 1,485.28 | -20.40% |
| Leveraged | -5,471.00 | 35,999.43 | -15.20% |
| Inverse | 4,429.67 | 12,704.95 | 34.87% |
| Asset Allocation | 34.88 | 9,801.17 | 0.36% |
| Alternatives | 396.19 | 4,440.56 | 8.92% |
| Total: | 144,395.82 | 3,923,575.44 | 3.68% |
Top 10 Volume Surprises, Funds >$50 mm AUM
| Ticker | Name | Average Volume (30 Day) | 1 Week Average Volume | % of Average |
| ISMD | Inspire Small/Mid Cap Impact ETF | 23,602 | 110,117 | 466.57% |
| ESG | FlexShares STOXX U.S. ESG Impact Index Fund | 3,304 | 11,279 | 341.35% |
| MVV | ProShares Ultra MidCap400 | 62,204 | 204,208 | 328.29% |
| RFV | Invesco S&P MidCap 400 Pure Value ETF | 19,448 | 79,388 | 408.21% |
| PSC | Principal U.S. Small-Cap Multi-Factor Index ETF | 2,460 | 6,863 | 279.00% |
| VFVA | Vanguard U.S. Value Factor ETF | 15,569 | 60,999 | 391.78% |
| MMIN | IQ MacKay Municipal Insured ETF | 10,849 | 34,972 | 322.34% |
| AMU | ETRACS Alerian MLP Index ETN | 104,061 | 293,244 | 281.80% |
| EQL | ALPS Equal Sector Weight ETF | 6,443 | 17,089 | 265.25% |
| XTN | SPDR S&P Transportation ETF | 11,099 | 25,250 | 227.49% |
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| SILJ | ETFMG Prime Junior Silver ETF | 7.20% | 2,531,836 | 110.98 |
| SIL | Global X Silver Miners ETF | 5.41% | 2,594,231 | 536.19 |
| PLTM | GraniteShares Platinum Trust | 5.23% | 96,575 | 5.21 |
| SIVR | Aberdeen Standard Physical Silver Shares ETF | 5.19% | 1,251,819 | 412.44 |
| DBS | Invesco DB Silver Fund | 5.03% | 27,090 | 16.08 |
| USV | ETRACS UBS Bloomberg CMCI Silver Total Return ETN | 5.02% | 1,500 | 2.30 |
| SLV | iShares Silver Trust | 5.02% | 116,411,325 | 7,125.41 |
| PPLT | Aberdeen Standard Physical Platinum Shares ETF | 4.98% | 492,279 | 657.17 |
| SLVP | iShares MSCI Global Silver Miners ETF | 4.84% | 882,393 | 99.15 |
| PSCE | Invesco S&P SmallCap Energy ETF | 4.65% | 55,288 | 19.29 |
Top 10 YTD Performers
| Ticker | Name | YTD Performance | Weekly Performance | AUM ($, mm) |
| TAN | Invesco Solar ETF | 64.42% | 1.50% | 455.20 |
| GOAU | U.S. Global GO Gold and Precious Metal Miners ETF | 55.21% | 4.48% | 27.37 |
| JJN | iPath Series B Bloomberg Nickel Subindex Total Return ETN | 53.02% | 4.13% | 8.41 |
| RING | iShares MSCI Global Gold Miners ETF | 52.35% | 3.03% | 332.00 |
| SGDM | Sprott Gold Miners ETF | 50.86% | 3.37% | 225.21 |
| PTF | Invesco DWA Technology Momentum ETF | 50.10% | 0.79% | 288.53 |
| GDX | VanEck Vectors Gold Miners ETF | 44.19% | 2.60% | 12,077.48 |
| GOEX | Global X Gold Explorers ETF | 42.31% | 4.52% | 48.04 |
| CHIS | Global X MSCI China Consumer Staples ETF | 40.80% | 2.37% | 2.06 |
| SILJ | ETFMG Prime Junior Silver ETF | 40.80% | 7.20% | 110.98 |
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.
