Int'l Equity ETFs Fuel Weekly Inflows

U.S.-listed ETFs had a modest net inflow during the week ending Thursday, May 4, as inflows into international equity ETFs offset outflows from U.S. equity ETFs.

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

ETF investors lightened up on their U.S. equity positions while adding to their international equity positions, according to the latest data from FactSet. In total, U.S.-listed ETFs registered net inflows of $1.6 billion in the week ending Thursday, May 4, but the contrast between the various asset classes was stark.

U.S. equity ETFs had outflows of $4.7 billion in the period, largely due to a $7 billion redemption in the SPDR S&P 500 ETF (SPY). The outflow took place despite a successful passage of the GOP health care bill in the House of Representatives and the release of a strong jobs report during the week, pushing the S&P 500 near its record high of 2,400.

On the flip side, international equity ETFs had inflows of $4.2 billion ahead of the French presidential run-off this weekend in which the centrist candidate Emmanuel Macron is expected to be victorious, according to polls. 

U.S. fixed-income and international fixed-income ETFs also saw inflows during the week, with creations of $1.3 billion and $500 million, respectively.

QQQ Leads Inflows, SPY Leads Outflows
In terms of individual ETFs, the PowerShares QQQ Trust (QQQ) was the only fund to have inflows of more than $1 billion during the period. 

International equity ETFs that did well during the week included the Vanguard FTSE Emerging Markets ETF (VWO), with inflows of $646 million; the Vanguard FTSE Developed Markets ETF (VEA), with inflows of $406 million; the iShares MSCI Eurozone ETF (EZU), with inflows of $398 million; and the iShares Core MSCI EAFE ETF (IEFA), with inflows of $395 million.

On the outflows side, as stated previously, SPY was the biggest loser, with redemptions of $7 billion. That was followed by the iShares Russell 2000 ETF (IWM), with outflows of $1.3 billion.

The iShares iBoxx $ High Yield Corporate Bond ETF (HYG), with redemptions of $658 million; the VanEck Vectors Gold Miners ETF (GDX), with redemptions of $533 million; and the PowerShares High Beta Portfolio (SPHB), with redemptions of $273 million, were a few other ETFs that fell out of favor this week.

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
QQQPowerShares QQQ Trust1,093.2650,266.892.22%
VOOVanguard S&P 500 Index Fund724.5266,696.141.10%
VWOVanguard FTSE Emerging Markets ETF646.1553,592.891.22%
IVViShares Core S&P 500 ETF433.59109,873.340.40%
VEAVanguard FTSE Developed Markets ETF405.8950,909.030.80%
EZUiShares MSCI Eurozone ETF398.1310,788.863.83%
IEFAiShares Core MSCI EAFE ETF394.6624,453.211.64%
IWDiShares Russell 1000 Value ETF384.7637,296.571.04%
VTIVanguard Total Stock Market Index Fund326.3177,778.030.42%
IXUSiShares Core MSCI Total International Stock ETF318.935,788.075.83%

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
SPYSPDR S&P 500 ETF Trust-7,018.20230,926.19-2.95%
IWMiShares Russell 2000 ETF-1,325.2138,889.93-3.30%
MDYSPDR S&P Midcap 400 ETF Trust-733.4518,527.49-3.81%
HYGiShares iBoxx $ High Yield Corporate Bond ETF-657.6018,676.35-3.40%
GDXVanEck Vectors Gold Miners ETF-532.939,597.22-5.26%
SPHBPowerShares S&P 500 High Beta Portfolio-272.84265.39-50.69%
XLUUtilities Select Sector SPDR Fund-211.187,128.32-2.88%
XBISPDR S&P BIOTECH ETF-187.613,085.21-5.73%
XLFFinancial Select Sector SPDR Fund-176.0123,148.46-0.75%
XRTSPDR S&P Retail ETF-154.81281.96-35.45%

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity-4,665.001,627,254.54-0.29%
International Equity4,165.40620,177.820.67%
U.S. Fixed Income1,259.20454,943.050.28%
International Fixed Income469.1847,588.090.99%
Commodities-49.0063,723.45-0.08%
Currency-34.932,821.22-1.24%
Leveraged568.9926,832.662.12%
Inverse-91.9017,272.50-0.53%
Asset Allocation43.446,924.210.63%
Alternatives-103.653,677.59-2.82%
Total:1,561.752,871,215.110.05%

Top 10 Volume Surprises, Funds >$50 mm AUM

TickerNameAverage Volume
(30 Day)
1 Week Average
Volume
% of Average
BMLPBMO Elkhorn DWA MLP Select Index ETN2891,680581.00%
IVALValueShares International Quantitative Value ETF8,43132,943390.75%
QVALValueShares U.S. Quantitative Value ETF10,73444,400413.64%
CHIQGlobal X China Consumer ETF36,954106,503288.21%
JKFiShares Morningstar Large Cap Value ETF13,22235,709270.08%
FXACurrencyShares Australian Dollar Trust21,65263,264292.19%
CQQQGuggenheim China Technology ETF20,77858,338280.77%
HOLDAdvisorShares Sage Core Reserves ETF95191200.91%
PPLTETFS Physical Platinum Shares56,799159,710281.18%
SPXLDirexion Daily S&P 500 Bull 3x Shares302,5791,118,448369.64%

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.