'HYG' & 'GLD' Lead Weekly Inflows Again; HEDJ Out Of Favor

Jul 08, 2016

Reviewed by: etf.com Staff

Edited by: etf.com Staff

ETF investors were in a cheerful mood this week, as stocks as well as bonds rallied toward record highs.

Positive data on the U.S. economy (nonfarm payrolls for June increased by 287K) boosted the S&P 500 close to its all-time high on Friday, but bonds remained well supported also thanks to quantitative easing programs around the world and speculation that the Fed won't raise rates anytime soon.

About $12.6 billion of fresh capital came into U.S.-listed exchange-traded funds in the week ending Thursday, July 7. Of that, $5.6 billion went into U.S. equity ETF, another $5.6 billion went into U.S. fixed-income ETFs, and $1.9 billion went into commodity ETFs.

HYG & GLD Lead Inflows Again

In terms of individual products, the SPDR S&P 500 ETF (SPY | A-97) took the No. 1 position, with $3.4 billion in inflows. That was followed by the iShares iBoxx $ High Yield Corporate Bond ETF (HYG | B-68) with $1.2 billion.

At No. 3 was the SPDR Gold Trust (GLD | A-100). Its $1.2 billion in inflows this week brought its year-to-date total to a whopping $13.4 billion.

Gold prices briefly hit a two-year high of around $1,367/oz earlier in the week before backing down modestly. The inflows into GLD suggest that investors remain concerned about financial markets despite the recent rally in stocks.

Japan & Europe ETFs Top Outflows

Taking a look at the outflows list for the week, the iShares MSCI Japan ETF (EWJ | B-93) was the biggest loser, with $759 million worth of redemptions.

That was followed by the iShares MSCI Eurozone ETF (EZU | B-84), with outflows of $623 million; the Financial Select Sector SPDR Fund (XLF | A-94), with outflows of $479 million; and the WisdomTree Europe Hedged Equity Fund (HEDJ | B-47) , with outflows of $422 million.

On a year-to-date basis, outflows for HEDJ total a whopping $5.6 billion, reflecting investors' reduced appetite for currency-hedged products.

Top 10 Creations (All ETFs)

Ticker	Name	Net Flows ($,mm)	AUM ($, mm)	AUM % Change
SPY	SPDR S&P 500 ETF Trust	3,383.60	182,355.34	1.89%
HYG	iShares iBoxx $ High Yield Corporate Bond ETF	1,238.19	16,185.74	8.28%
GLD	SPDR Gold Trust	1,222.41	42,969.90	2.93%
LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	970.04	30,624.94	3.27%
IVV	iShares Core S&P 500 ETF	768.14	73,679.55	1.05%
XLP	Consumer Staples Select Sector SPDR Fund	539.20	10,616.59	5.35%
EMB	iShares JP Morgan USD Emerging Markets Bond ETF	400.32	7,533.52	5.61%
SHY	iShares 1-3 Year Treasury Bond ETF	392.27	10,428.91	3.91%
SHV	iShares Short Treasury Bond ETF	386.48	3,819.65	11.26%
AGG	iShares Core U.S. Aggregate Bond ETF	360.83	39,291.37	0.93%

Top 10 Redemptions (All ETFs)

Ticker	Name	Net Flows ($,mm)	AUM ($, mm)	AUM % Change
EWJ	iShares MSCI Japan ETF	-758.52	13,871.34	-5.18%
EZU	iShares MSCI Eurozone ETF	-623.14	8,655.95	-6.72%
XLF	Financial Select Sector SPDR Fund	-478.87	14,323.67	-3.24%
HEDJ	WisdomTree Europe Hedged Equity Fund	-422.32	9,899.91	-4.09%
MDY	SPDR S&P Midcap 400 ETF Trust	-415.60	15,799.42	-2.56%
VTI	Vanguard Total Stock Market Index Fund	-295.36	60,961.20	-0.48%
NUGT	Direxion Daily Gold Miners Index Bull 3x Shares	-260.24	1,731.77	-13.06%
EWG	iShares MSCI Germany ETF	-233.51	3,692.12	-5.95%
NEAR	iShares Short Maturity Bond ETF	-205.39	2,043.92	-9.13%
SVXY	ProShares Short VIX Short-Term Futures ETF	-155.65	552.36	-21.98%

ETF Weekly Flows By Asset Class

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	5,566.74	1,245,368.41	0.45%
International Equity	-1,394.17	463,337.95	-0.30%
U.S. Fixed Income	5,560.33	390,977.49	1.42%
International Fixed Income	538.85	37,038.97	1.45%
Commodities	1,859.34	77,162.07	2.4%
Currency	4.61	1,416.86	0.32%
Leveraged	-428.37	24,892.57	-1.72%
Inverse	646.32	19,613.89	3.29%
Asset Allocation	22.74	6,130.75	0.37%
Alternatives	265.12	4,003.77	6.6%
Total:	12,641.51	2,269,942.75	0.71%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker	Name	Average Volume (30 Day)	1 Week Average Volume	% of Average
JPXN	iShares JPX-Nikkei 400 ETF	30,893	236,630	765.96%
INKM	SPDR SSgA Income Allocation ETF	5,808	25,396	437.26%
MLPC	C-Tracks Miller/Howard MLP Fundamental ETN	1,934	6,370	329.40%
DGRO	iShares Core Dividend Growth ETF	239,447	894,871	373.72%
PHB	Powershares Fundamental High Yield Corporate Bond Portfolio	742,491	2,766,994	372.66%
MINT	PIMCO Enhanced Short Maturity Active ETF	418,557	1,030,477	246.20%
IDLV	PowerShares S&P International Developed Low Volatility ETF	104,794	307,759	293.68%
FTY	iShares Real Estate 50 ETF	5,581	24,069	431.28%
WOOD	iShares Global Timber & Forestry ETF	14,948	31,895	213.37%
SYLD	Cambria Shareholder Yield ETF	21,486	62,275	289.85%

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.

etf.com Staff

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