Investors Buy the Semiconductor Dip in $40 Billion Flows Week
Year-to-date inflows topped $1.1 trillion as fixed income led categories and SOXX led individual funds.
Investors added almost $40 billion to U.S.-listed ETFs during the week ending Friday, July 10, pushing year-to-date inflows above $1.1 trillion.
Markets edged higher over the week, with the S&P 500 up around 1% but still sitting marginally below its June all-time high. Bond yields climbed to their highest level since May as a rise in oil prices reignited inflation concerns.
By category, U.S. fixed income ETFs led inflows at $12.4 billion, followed by international equity ETFs at $10.5 billion and U.S. equity at $10.3 billion. Inverse ETFs shed $306 million and commodity ETFs lost $168 million.
Among individual funds, the iShares Semiconductor ETF (SOXX) led with $5.3 billion in inflows, followed by the Vanguard S&P 500 ETF (VOO) at $4.4 billion.
SOXX's rival, the VanEck Semiconductor ETF (SMH), took the No. 3 spot with $2.5 billion, while the Direxion Daily Semiconductor Bull 3X Shares (SOXL) was next with $2.4 billion and the Roundhill Memory ETF (DRAM), a more specialized fund holding semiconductor names, picked up $1.7 billion.
After a massive run in Q2, semiconductor ETFs are pulling back to start Q3, but based on these inflows, some investors are treating the dip as a buying opportunity.
On the outflows side of the ledger, the Invesco QQQ Trust (QQQ) led with $8 billion in redemptions, and the iShares iBoxx $ High Yield Corporate Bond ETF (HYG) shed $772 million.
For a full list of the top inflows and outflows from last week, see the tables below.
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change< |
| SOXX | iShares Semiconductor ETF | 5,267.71 | 47,633.94 | 11.06 |
| VOO | Vanguard S&P 500 ETF | 4,396.15 | 985,576.97 | 0.45 |
| SMH | VanEck Semiconductor ETF | 2,494.63 | 73,195.16 | 3.41 |
| SOXL | Direxion Daily Semiconductor Bull 3x Shares | 2,394.00 | 25,319.98 | 9.45 |
| IWM | iShares Russell 2000 ETF | 2,125.43 | 83,752.91 | 2.54 |
| DRAM | Roundhill Memory ETF | 1,664.32 | 23,418.72 | 7.11 |
| SPYM | SPDR Portfolio S&P 500 ETF | 1,596.13 | 157,027.98 | 1.02 |
| SGOV | iShares 0-3 Month Treasury Bond ETF | 1,366.17 | 97,660.71 | 1.40 |
| EFV | iShares MSCI EAFE Value ETF | 1,308.43 | 25,924.80 | 5.05 |
| LQD | iShares iBoxx $ Investment Grade Corporate Bond ETF | 1,078.83 | 35,600.96 | 3.03 |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change |
| QQQ | Invesco QQQ Trust Series I | -7,984.66 | 479,563.55 | -1.66 |
| SPY | SPDR S&P 500 ETF Trust | -5,296.45 | 776,864.47 | -0.68 |
| IVV | iShares Core S&P 500 ETF | -2,182.74 | 890,540.65 | -0.25 |
| HYG | iShares iBoxx $ High Yield Corporate Bond ETF | -772.44 | 16,745.10 | -4.61 |
| IQMM | ProShares GENIUS Money Market ETF | -680.23 | 19,840.02 | -3.43 |
| VUG | Vanguard Growth ETF | -495.51 | 222,066.06 | -0.22 |
| VLUE | iShares MSCI USA Value Factor ETF | -435.05 | 9,765.36 | -4.46 |
| SCZ | iShares MSCI EAFE Small-Cap ETF | -432.26 | 13,694.99 | -3.16 |
| FXI | iShares China Large-Cap ETF | -369.84 | 4,397.95 | -8.41 |
| KRE | SPDR S&P Regional Banking ETF | -328.77 | 4,752.97 | -6.92 |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| Alternatives | 855.62 | 142,485.84 | 0.60% |
| Asset Allocation | 146.70 | 42,297.16 | 0.35% |
| Commodities E T Fs | -167.50 | 312,385.10 | -0.05% |
| Currency | 460.40 | 95,399.74 | 0.48% |
| International Equity | 10,518.68 | 2,827,399.07 | 0.37% |
| International Fixed Income | 3,528.34 | 438,387.78 | 0.80% |
| Inverse | -306.24 | 12,900.49 | -2.37% |
| Leveraged | 2,295.16 | 193,139.13 | 1.19% |
| Us Equity | 10,252.73 | 9,561,005.42 | 0.11% |
| Us Fixed Income | 12,384.51 | 2,142,632.26 | 0.58% |
| Total: | 39,968.40 | 15,768,031.98 | 0.25% |
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.
