Investors Add Money To ETFs Ahead Of 'Brexit' Surprise

June 24, 2016

Hopeful that the U.K. would vote to remain in the European Union, investors plowed $5 billion into U.S.-listed exchange-traded funds in the week ending Thursday, June 23. The data from FactSet excludes flows from Friday, the day that markets tanked following shocking news that voters had chosen to leave the EU by a 4-point margin.

The week-ending-Thursday data showed positive flows into most of the major categories, with U.S. equity and international equity ETFs each garnering more than $2.3 billion in inflows. 

U.S. fixed-income and international fixed-income ETFs also had positive flows, to the tune of $880 million and $360 million, respectively.

GLD Continues To Gather Assets

Meanwhile, commodities received about $650 million in investor capital largely thanks, once again, to the SPDR Gold Trust (GLD | A-100). The physically backed gold fund had inflows of $555 million, bringing its year-to-date haul to $10.7 billion.

Also receiving considerable inflows were the iShares MSCI Eurozone ETF (EZU | B-84) and the iShares Nasdaq Biotechnology ETF (IBB | A-69), with inflows of more than $450 million apiece.

On the flip side of the flows ledger were inverse ETFs, which had outflows of $760 million. Most of that came from one product in particular, the VelocityShares Daily Inverse VIX Short-Term ETN , which had outflows of $242 million. 

That was followed by three Vanguard index funds and the First Trust Morningstar Dividend Leaders Index Fund (FDL | A-71), which had outflows of $587 million, equal to 27.3% of its assets under management. 

For a complete list of the ETFs with the top inflows and outflows, see the tables below.

Top 10 Creations (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 ETF Trust 1,738.75 186,596.63 0.94%
IWD iShares Russell 1000 Value ETF 1,240.09 29,777.43 4.35%
VWO Vanguard FTSE Emerging Markets ETF 755.50 37,812.95 2.04%
EFA iShares MSCI EAFE ETF 618.51 59,735.38 1.05%
GLD SPDR Gold Trust 555.01 37,157.55 1.52%
EZU iShares MSCI Eurozone ETF 484.20 11,020.09 4.60%
IBB iShares NASDAQ Biotechnology ETF 451.50 6,799.83 7.11%
XLE Energy Select Sector SPDR Fund 433.42 14,606.79 3.06%
IWR iShares Russell Midcap ETF 418.94 13,050.33 3.32%
EEM iShares MSCI Emerging Markets ETF 396.38 22,773.92 1.77%

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
VO Vanguard Mid-Cap Index Fund -933.29 14,149.66 -6.19%
VUG Vanguard Growth Index Fund -614.04 20,600.92 -2.89%
VTV Vanguard Value Index Fund -606.69 21,781.69 -2.71%
FDL First Trust Morningstar Dividend Leaders Index Fund -586.57 1,562.44 -27.29%
BSV Vanguard Short-Term Bond Index Fund -581.03 18,442.29 -3.05%
VB Vanguard Small-Cap Index Fund -349.39 12,928.47 -2.63%
HEDJ WisdomTree Europe Hedged Equity Fund -305.36 11,652.21 -2.55%
QQQ PowerShares QQQ Trust -269.29 36,302.89 -0.74%
JNK SPDR Barclays High Yield Bond ETF -262.08 11,940.39 -2.15%
XIV VelocityShares Daily Inverse VIX Short-Term ETN -242.08 757.02 -24.23%

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 2,379.13 1,237,267.51 0.19%
International Equity 2,704.37 475,047.50 0.57%
U.S. Fixed Income 882.18 377,452.52 0.23%
International Fixed Income 356.99 35,655.32 1.00%
Commodities 651.72 68,831.26 0.95%
Currency -8.83 1,281.62 -0.69%
Leveraged 210.84 23,985.32 0.88%
Inverse -760.32 20,723.25 -3.67%
Asset Allocation 105.17 6,020.66 1.75%
Alternatives -86.07 4,166.62 -2.07%
Total: 6,435.18 2,250,431.58 0.29%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
IBDB iShares iBonds Mar 2018 Term Corporate ETF 3,053 6,625 217.02%
ADRD BLDRS Developed Markets 100 ADR Index Fund 6,785 17,327 255.36%
LOWC SPDR MSCI ACWI Low Carbon Target ETF 394 768 194.91%
GSIE Goldman Sachs ActiveBeta International Equity ETF 86,589 211,863 244.68%
FXB CurrencyShares British Pound Sterling Trust 48,757 144,437 296.24%
IYLD iShares Morningstar Multi-Asset Income ETF 27,755 57,396 206.79%
FNDA Schwab Fundamental US Small Co. Index ETF 109,587 192,873 176.00%
PSQ ProShares Short QQQ 698,364 1,099,967 157.51%
DEW WisdomTree Global High Dividend Fund 8,736 11,750 134.50%
DOO WisdomTree International Dividend ex-Financials Fund 30,010 47,538 158.41%

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
GAZ iPath Bloomberg Natural Gas Subindex Total Return ETN 19.86% 382,311 5.98
GREK Global X MSCI Greece ETF 14.68% 3,069,319 272.04
EUFN iShares MSCI Europe Financials ETF 14.07% 3,353,703 221.79
FKU First Trust United Kingdom AlphaDEX Fund 13.73% 216,976 160.81
EWUS iShares MSCI United Kingdom Small Cap ETF 13.45% 141,713 13.98
FBZ First Trust Brazil AlphaDEX Fund 13.39% 4,304 3.02
BRAQ Global X Brazil Consumer ETF 12.49% 12,438 4.00
QGBR SPDR MSCI United Kingdom Quality Mix ETF 12.04% 1,889 2.54
EZA iShares MSCI South Africa ETF 11.82% 3,749,254 359.95
EWU iShares MSCI United Kingdom ETF 11.06% 61,978,850 2,140.12

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
VXUP AccuShares Spot CBOE VIX Up Shares -17.12% 74,768 0.55
VIXY ProShares VIX Short-Term Futures ETF -12.90% 34,942,025 275.87
VIIX VelocityShares Daily Long VIX Short-Term ETN -12.72% 1,578,463 10.14
VXX iPath S&P 500 VIX Short-Term Futures ETN -12.64% 411,053,365 1,555.04
VMAX REX VolMAXX Long VIX Weekly Futures Strategy ETF -12.17% 51,779 2.16
VIXM ProShares VIX Mid-Term Futures ETF -7.36% 388,274 42.60
VXZ iPath S&P 500 VIX Mid-Term Futures ETN -7.31% 4,089,594 53.60
VIIZ VelocityShares VIX Medium Term ETN -6.80% 30,300 0.60
CORN Teucrium Corn Fund -6.73% 563,872 69.81
EGPT VanEck Vectors Egypt Index ETF -6.56% 156,824 28.36

Top 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
FCG First Trust ISE-Revere Natural Gas Index Fund 473.88% 3.89% 227.11
SILJ PureFunds ISE Junior Silver (Small Cap Miners/Explorers) ETF 166.46% 0.29% 40.60
GLDX Global X Gold Explorers ETF 114.97% 0.34% 64.03
SLVP iShares MSCI Global Silver Miners ETF 111.49% 1.16% 50.82
SIL Global X Silver Miners ETF 108.48% 1.02% 319.44
GDXJ VanEck Vectors Junior Gold Miners ETF 107.08% -1.31% 3,296.10
SGDJ Sprott Junior Gold Miners ETF 97.35% -1.28% 45.53
RING iShares MSCI Global Gold Miners ETF 97.02% -2.03% 174.14
SGDM Sprott Gold Miners ETF 85.39% -1.06% 215.87
PSAU PowerShares Global Gold & Precious Metals Portfolio 84.85% -1.18% 56.17

Bottom 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
BBC BioShares Biotechnology Clinical Trials Fund -35.22% 2.32% 18.81
GRN iPath Global Carbon ETN -33.39% 2.26% 1.60
VIXY ProShares VIX Short-Term Futures ETF -32.63% -12.90% 275.87
VXX iPath S&P 500 VIX Short-Term Futures ETN -32.29% -12.64% 1,555.04
VIIX VelocityShares Daily Long VIX Short-Term ETN -32.20% -12.55% 10.14
TAN Guggenheim Solar ETF -31.95% 2.46% 227.41
KWT VanEck Vectors Solar Energy ETF -28.92% 2.66% 13.13
DXJF WisdomTree Japan Hedged Financials Fund -28.39% 6.20% 10.86
VXUP AccuShares Spot CBOE VIX Up Shares -27.23% -15.87% 0.55
SBIO ALPS Medical Breakthroughs -26.42% 1.48% 132.21

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.

 

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