‘GLD’ Powers Weekly Inflows To $3.5B

Senior ETF Analyst

Aug 30, 2019

Reviewed by: Sumit Roy

Edited by: Sumit Roy

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.

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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‘GLD’ Powers Weekly Inflows To $3.5B

‘GLD’ Powers Weekly Inflows To $3.5B

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