Investors Add $29.5B to ETFs as QQQ Leads Inflows
Broad equity funds remain popular, with notable demand for tech, gold and short-term Treasury ETFs.
U.S.-listed exchange-traded funds saw $29.5 billion in net inflows last week, bringing year-to-date additions to $162.5 billion. Investors continued to favor broad equity funds, with notable demand for tech, gold and short-term Treasury ETFs.
The Invesco QQQ Trust (QQQ) topped the inflows list, pulling in $4.3 billion as tech stocks sagged amid economic uncertainty. SPDR Gold Shares (GLD) followed closely behind with $3.9 billion, continuing its strong run as gold prices neared all-time highs above $2,950/oz.
SPY and VOO in Close Battle for AUM Leadership
The SPDR S&P 500 ETF Trust (SPY) attracted $1.8 billion in new money last week, keeping its total assets just ahead of the Vanguard S&P 500 ETF (VOO). SPY now manages $635.5 billion, while VOO sits at $634 billion.
Despite recent inflows, SPY has still seen net outflows of $12.9 billion year to date, while VOO has gained $24.4 billion—a sign that investors continue shifting toward Vanguard’s lower-cost offering.
Treasury and Dividend ETFs Gain Traction
Beyond equities, fixed-income and dividend-focused ETFs also saw strong demand:
- iShares 0-3 Month Treasury Bond ETF (SGOV) added $1.1 billion, reflecting continued appetite for short-duration Treasuries.
- Fidelity High Dividend ETF (FDVV) saw an 18.5% increase in AUM, pulling in $1.1 billion as investors sought dividend-paying stocks.
- iShares iBoxx High Yield Corporate Bond ETF (HYG) gained $1 billion, signaling interest in higher-yield credit.
Leveraged, Dow-Tracking ETFs: Heavy Redemptions
On the redemption side, several funds saw notable outflows:
- The iShares Core S&P 500 ETF (IVV) lost $1.35 billion, despite strong inflows into other S&P 500-tracking ETFs.
- SPDR Dow Jones Industrial Average ETF (DIA) shed $1.3 billion, a 3.4% decline in AUM, as some investors shifted away from blue-chip Dow stocks.
- The Direxion Daily Semiconductor Bull 3x Shares (SOXL) dropped $990 million, with investors pulling back from leveraged semiconductor bets.
ETF Flows Reflect Markets in Transition
With tech ETFs like QQQ seeing strong demand, but defensive plays like gold and short-term Treasuries also attracting capital, investors seem to be hedging their bets amid uncertain market conditions.
At the same time, shifts within S&P 500-tracking funds suggest a continued tilt toward lower-cost ETFs, with VOO likely to overtake SPY in AUM in the coming weeks and months.
For a full list of the top ETF inflows and outflows from last week, see the tables below:
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change< |
| QQQ | Invesco QQQ Trust Series I | 4,313.69 | 341,622.46 | 1.26 |
| GLD | SPDR Gold Shares | 3,892.57 | 85,236.44 | 4.57 |
| SPY | SPDR S&P 500 ETF Trust | 1,836.45 | 635,546.96 | 0.29 |
| VOO | Vanguard S&P 500 ETF | 1,660.58 | 634,022.36 | 0.26 |
| SGOV | iShares 0-3 Month Treasury Bond ETF | 1,120.73 | 35,111.99 | 3.19 |
| FDVV | Fidelity High Dividend ETF | 1,107.47 | 6,002.15 | 18.45 |
| VXUS | Vanguard Total International Stock ETF | 1,045.47 | 81,606.06 | 1.28 |
| HYG | iShares iBoxx $ High Yield Corporate Bond ETF | 1,003.02 | 15,358.70 | 6.53 |
| IEMG | iShares Core MSCI Emerging Markets ETF | 696.16 | 83,287.35 | 0.84 |
| RSP | Invesco S&P 500 Equal Weight ETF | 681.70 | 75,696.28 | 0.90 |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change |
| IVV | iShares Core S&P 500 ETF | -1,352.15 | 608,143.73 | -0.22 |
| DIA | SPDR Dow Jones Industrial Average ETF Trust | -1,286.67 | 37,767.98 | -3.41 |
| LQD | iShares iBoxx $ Investment Grade Corporate Bond ETF | -1,046.30 | 30,067.71 | -3.48 |
| SOXL | Direxion Daily Semiconductor Bull 3x Shares | -990.43 | 9,897.70 | -10.01 |
| IWM | iShares Russell 2000 ETF | -633.66 | 72,063.89 | -0.88 |
| XLP | Consumer Staples Select Sector SPDR Fund | -454.22 | 16,402.75 | -2.77 |
| ACWV | iShares MSCI Global Min Vol Factor ETF | -422.50 | 3,736.63 | -11.31 |
| VYM | Vanguard High Dividend Yield Index ETF | -422.26 | 61,760.84 | -0.68 |
| SOXX | iShares Semiconductor ETF | -401.22 | 13,554.64 | -2.96 |
| DGRO | iShares Core Dividend Growth ETF | -353.29 | 31,490.11 | -1.12 |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| Alternatives | 156.74 | 9,920.45 | 1.58% |
| Asset Allocation | 108.69 | 23,429.29 | 0.46% |
| Commodities ETFs | 4,158.87 | 182,467.99 | 2.28% |
| Currency | -246.56 | 130,373.37 | -0.19% |
| International Equity | 5,827.56 | 1,654,285.05 | 0.35% |
| International Fixed Income | 2,128.89 | 274,862.81 | 0.77% |
| Inverse | 598.47 | 12,857.26 | 4.65% |
| Leveraged | -1,040.26 | 131,940.83 | -0.79% |
| US Equity | 11,976.95 | 6,935,070.78 | 0.17% |
| US Fixed Income | 5,787.37 | 1,595,530.51 | 0.36% |
| Total: | 29,456.73 | 10,950,738.34 | 0.27% |
Disclaimer: All data as of 6 a.m. ET the date the article is published. Data are believed to be accurate; however, transient market data are often subject to subsequent revision and correction by the exchanges.
