Huge Weekly Inflows For Corporate Bond ETF

U.S.-listed ETFs registered modest outflows this week, but 'LQD' pulled in more than $5 billion. 

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

It was another volatile week on Wall Street, as the S&P 500 sagged to a three-year low on Monday before rocketing up by 17.6% over the next three sessions, the best three-day stretch since the 1930s.

Yet, overall ETF flows didn't reflect all that activity. On net, a mere $2.8 billion flowed out of U.S.-listed ETFs during the week ending Thursday, March 26. That puts year-to-date inflows at $66.8 billion, still ahead of last year's $48.1 billion pace.

Huge Inflow For 'LQD'

While headline flows figures were rather tepid, individual ETFs saw a flurry of activity. The iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD) had $5.2 billion of inflows this week, a sizable haul for the $35 billion fund. On Monday, the Federal Reserve announced a new facility that would purchase investment-grade corporate bond ETFs to help thaw strained credit markets. 

Meanwhile, though the Fed won't be purchasing them, junk bond ETFs like the SPDR Bloomberg Barclays High Yield Bond ETF (JNK) and the iShares iBoxx USD High Yield Corporate Bond ETF (HYG) also saw interest from investors this week. 

So too did the SPDR Gold Trust (GLD), which bounced back more than 10% from its lows of last week. Gold prices were last trading around $1,620/oz. 

'AGG' & 'MINT' Shunned 

On the outflows side, the iShares Core S&P 500 ETF (IVV), the iShares Core U.S. Aggregate Bond ETF (AGG) and the PIMCO Enhanced Short Maturity Active ETF (MINT) were the biggest flows losers of the period.

MINT stunned investors last week after the fund tumbled nearly 5% from its highs. Such a move was unexpected for a fund that seeks to be a money market alternative. 

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
LQDiShares iBoxx USD Investment Grade Corporate Bond ETF5,215.1334,519.5415.11%
QQQInvesco QQQ Trust2,591.7181,439.183.18%
GLDSPDR Gold Trust1,588.1149,205.583.23%
BILSPDR Bloomberg Barclays 1-3 Month T-Bill ETF1,479.6118,048.818.20%
VOOVanguard S&P 500 ETF1,415.29112,895.511.25%
SHYiShares 1-3 Year Treasury Bond ETF1,348.4024,399.405.53%
JNKSPDR Bloomberg Barclays High Yield Bond ETF1,086.896,687.3716.25%
HYGiShares iBoxx USD High Yield Corporate Bond ETF1,063.1714,369.707.40%
XLFFinancial Select Sector SPDR Fund877.1714,959.295.86%
IVWiShares S&P 500 Growth ETF803.9220,581.733.91%

 

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
IVViShares Core S&P 500 ETF-3,517.57154,382.91-2.28%
AGGiShares Core U.S. Aggregate Bond ETF-2,529.0366,947.57-3.78%
MINTPIMCO Enhanced Short Maturity Active ETF-1,198.4711,850.83-10.11%
JPSTJPMorgan Ultra-Short Income ETF-993.259,328.88-10.65%
BBEUJPMorgan BetaBuilders Europe ETF-902.512,007.57-44.96%
VXXiPath Series B S&P 500 VIX Short Term Futures ETN-841.641,136.27-74.07%
BIVVanguard Intermediate-Term Bond ETF-794.0011,717.69-6.78%
VWOVanguard FTSE Emerging Markets ETF-731.5149,260.09-1.49%
VNQVanguard Real Estate ETF-704.5725,286.60-2.79%
SPYSPDR S&P 500 ETF Trust-702.26229,924.06-0.31%

 

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity-261.711,912,337.92-0.01%
International Equity-2,556.91663,647.67-0.39%
U.S. Fixed Income-2,676.19752,649.73-0.36%
International Fixed Income-1,672.9280,261.64-2.08%
Commodities ETFs2,670.4788,450.593.02%
Currency371.431,880.4619.75%
Leveraged1,075.0326,533.244.05%
Inverse1,423.8315,957.758.92%
Asset Allocation-177.018,196.77-2.16%
Alternatives-975.074,698.16-20.75%
Total:-2,779.053,554,613.93-0.08%

 

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity37,530.401,912,337.921.96%
International Equity1,677.52663,647.670.25%
U.S. Fixed Income13,020.17752,649.731.73%
International Fixed Income-1,773.9480,261.64-2.21%
Commodities ETFs7,886.5988,450.598.92%
Currency570.361,880.4630.33%
Leveraged7,533.2926,533.2428.39%
Inverse1,779.2715,957.7511.15%
Asset Allocation-65.078,196.77-0.79%
Alternatives-1,386.734,698.16-29.52%
Total:66,771.863,554,613.931.88%

 

Top 10 Volume Surprises, Funds >$50 mm AUM

TickerNameAverage Volume
(30 Day)
1 Week Average
Volume
% of Average
TIPXSPDR Bloomberg Barclays 1-10 Year TIPS ETF142,546676,900474.87%
ARCMArrow Reserve Capital Management ETF3,6527,568207.20%
DIVCC-Tracks ETN - Miller/Howard Strategic Dividend Reinvestor103281272.76%
PBJInvesco Dynamic Food & Beverage ETF26,09665,491250.96%
GIGBGoldman Sachs Access Investment Grade Corporate Bond ETF148,834571,129383.74%
UEVMVictoryShares USAA MSCI Emerging Markets Value Momentum ETF14,17432,223227.34%
HTABHartford Schroders Tax-Aware Bond ETF3,53610,988310.72%
SPIPSPDR Portfolio TIPS ETF936,3112,637,395281.68%
PTHInvesco DWA Healthcare Momentum ETF36,368117,800323.91%
GQREFlexShares Global Quality Real Estate Index Fund48,073169,955353.53%

 

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

TickerNameWeekly PerformanceWeekly VolumeAUM ($, mm)
PALLAberdeen Standard Physical Palladium Shares ETF43.84%242,165269.23
GDXJVanEck Vectors Junior Gold Miners ETF35.73%156,605,3344,015.32
SGDJSprott Junior Gold Miners ETF33.59%369,00139.99
SILJETFMG Prime Junior Silver Miners ETF31.85%2,995,133109.53
GOEXGlobal X Gold Explorers ETF31.02%176,14033.51
JETSUS Global Jets ETF30.66%13,344,944285.12
GDXVanEck Vectors Gold Miners ETF28.03%358,886,21011,166.57
GOAUU.S. Global GO Gold and Precious Metal Miners ETF27.83%468,74950.11
RINGiShares MSCI Global Gold Miners ETF27.22%1,582,065318.75
SLVPiShares MSCI Global Silver Miners ETF25.40%561,86379.96

 

Top 10 YTD Performers

TickerNameYTD PerformanceWeekly PerformanceAUM ($, mm)
VIIXVelocityShares Daily Long VIX Short-Term ETN206.17%-17.13%64.08
VIXYProShares VIX Short-Term Futures ETF205.31%-16.83%238.79
VXXiPath Series B S&P 500 VIX Short Term Futures ETN201.72%-15.94%1,136.27
XVZiPath S&P 500 Dynamic VIX ETN87.35%-15.69%4.96
VXZiPath Series B S&P 500 VIX Mid-Term Futures ETN74.23%-10.14%48.58
VIXMProShares VIX Mid-Term Futures ETF73.23%-9.91%36.68
ZROZPIMCO 25+ Year Zero Coupon US Treasury Index ETF29.69%5.52%350.71
EDVVanguard Extended Duration Treasury ETF27.53%5.80%1,439.50
TAILCambria Tail Risk ETF21.58%-2.50%116.58
PALLAberdeen Standard Physical Palladium Shares ETF21.14%43.84%269.23

 

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.