Investors Flocked to QQQ, Dumped TLT Last Week
Overall, ETF inflows were strong during the week of Nov. 11.
Three ETF heavyweights, the Invesco QQQ Trust (QQQ), the SPDR S&P 500 ETF Trust (SPY), and the Vanguard 500 Index Fund (VOO) powered inflows for ETFs last week.
Each of the funds had weekly inflows of more than $5 billion, helping to push weekly inflows for all U.S.-listed exchange-traded funds to more than $45 billion.
Year-to-date inflows now stand at more than $919 billion, above the previous annual record of $900 billion set three years ago.
Both S&P 500 funds like SPY and VOO, as well as Nasdaq-100 funds like QQQ, hit new all-time highs early last week as the Trump-fueled rally in stocks continued.
Investors Remain Bullish on Stocks as 2024 Closes
However, by the end of the week, the combination of profit -taking and hawkish talk from Fed chair Jerome Powell pushed the ETFs down by around 2% to 4% from those records.
Still, judging by the latest ETF flows and the still-meaty 25% year-to-date return for SPY, investors remain decidedly bullish on stocks heading into the end of the year.
Bonds, meanwhile, are another matter. U.S. fixed income ETFs registered net outflows of $1.4 billion last week as the 10-year Treasury bond yield hit its highest level in several months.
Investor are betting on stronger growth, higher inflation, and larger deficits during the next Trump administration, which explains the recent spike in yields and drop in bond prices (bond prices and yields move inversely).
The iShares 20+ Year Treasury Bond ETF (TLT), one particularly interest rate-sensitive bond ETF, had outflows of $3.2 billion last week.
However, the ETF still has inflows of more than $10 billion since the start of the year. On a total return basis, TLT is down nearly 6% this year after being up by 5% as recently as September.
For a full list of last week’s top ETF inflows and outflows, see the tables below:
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change< |
| QQQ | Invesco QQQ Trust | 8,369.89 | 317,866.44 | 2.63 |
| SPY | SPDR S&P 500 ETF Trust | 6,604.46 | 630,140.76 | 1.05 |
| VOO | Vanguard 500 Index Fund | 5,633.14 | 571,482.31 | 0.99 |
| IWM | iShares Russell 2000 ETF | 2,838.84 | 79,015.37 | 3.59 |
| MTUM | iShares MSCI USA Momentum Factor ETF | 2,336.93 | 13,114.14 | 17.82 |
| IBIT | iShares Bitcoin Trust | 2,098.19 | 41,603.03 | 5.04 |
| RSP | Invesco S&P 500 Equal Weight ETF | 1,695.45 | 70,994.29 | 2.39 |
| JGLO | JPMorgan Global Select Equity ETF | 1,645.84 | 6,613.28 | 24.89 |
| XLF | Financial Select Sector SPDR Fund | 1,597.77 | 49,849.97 | 3.21 |
| SPLV | Invesco S&P 500 Low Volatility ETF | 1,401.95 | 8,925.43 | 15.71 |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change |
| IVV | iShares Core S&P 500 ETF | -3,376.69 | 559,089.71 | -0.60 |
| TLT | iShares 20+ Year Treasury Bond ETF | -3,158.94 | 58,234.58 | -5.42 |
| IUSB | iShares Core Total USD Bond Market ETF | -1,442.16 | 31,787.25 | -4.54 |
| VTI | Vanguard Total Stock Market ETF | -1,355.36 | 458,419.50 | -0.30 |
| XLU | Utilities Select Sector SPDR Fund | -1,345.21 | 16,585.78 | -8.11 |
| IWX | iShares Russell Top 200 Value ETF | -803.35 | 2,412.13 | -33.30 |
| DIA | SPDR Dow Jones Industrial Average ETF Trust | -769.83 | 37,808.63 | -2.04 |
| FXI | iShares Trust - China Large-Cap ETF | -751.16 | 8,374.98 | -8.97 |
| KWEB | KraneShares CSI China Internet ETF | -718.79 | 5,977.44 | -12.03 |
| HYG | iShares iBoxx USD High Yield Corporate Bond ETF | -689.95 | 14,967.11 | -4.61 |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| Alternatives | 23.49 | 8,779.04 | 0.27% |
| Asset Allocation | 136.62 | 21,104.24 | 0.65% |
| Commodities | -59.94 | 157,618.43 | -0.04% |
| Currency | 2,898.75 | 103,188.47 | 2.81% |
| International Equity | 1,882.97 | 1,553,599.25 | 0.12% |
| International Fixed Income | 2,227.40 | 236,648.38 | 0.94% |
| Inverse | -519.52 | 12,255.38 | -4.24% |
| Leveraged | 38.43 | 121,809.24 | 0.03% |
| U.S. Equity | 39,863.60 | 6,581,360.53 | 0.61% |
| U.S. Fixed Income | -1,419.20 | 1,543,658.43 | -0.09% |
| Total: | 45,072.59 | 10,340,021.38 | 0.44% |
Top 10 Volume Surprises, Funds >$50 mm AUM
| Ticker | Name | Average Volume (30 Day) | 1 Week Average Volume | % of Average |
| GNOV | FT Vest U.S. Equity Moderate Buffer ETF - November | 57,322 | 1,271,162.00 | 2,217.58%% |
| SNOV | FT Vest U.S. Small Cap Moderate Buffer ETF - November | 23,744 | 514,902.00 | 2,168.57%% |
| DJAN | FT Vest U.S. Equity Deep Buffer ETF - January | 23,934 | 346,399.00 | 1,447.28%% |
| DMBS | DoubleLine Mortgage ETF | 60,399 | 825,289.00 | 1,366.40%% |
| SPYC | Simplify US Equity PLUS Convexity ETF | 12,231 | 159,522.00 | 1,304.27%% |
| LEGR | First Trust Indxx Innovative Transaction & Process ETF | 6,607 | 75,890.00 | 1,148.71%% |
| RSHO | Tema American Reshoring ETF | 23,426 | 262,556.00 | 1,120.78%% |
| PSCE | Invesco S&P SmallCap Energy ETF | 18,549 | 176,188.00 | 949.84%% |
| HAWX | iShares Currency Hedged MSCI ACWI ex U.S. ETF | 16,790 | 156,728.00 | 933.48%% |
| DNOV | FT Vest U.S. Equity Deep Buffer ETF - November | 17,816 | 165,439.00 | 928.58%% |
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| WEED | Roundhill Cannabis ETF | 24.82% | 59,607 | 3.67 |
| MSOS | AdvisorShares Pure US Cannabis ETF | 23.97% | 140,897,766 | 637.46 |
| MJUS | Amplify U.S. Alternative Harvest ETF | 19.77% | 5,542,907 | 84.83 |
| CNBS | Amplify Seymour Cannabis ETF | 13.23% | 272,973 | 21.33 |
| DISO | YieldMax DIS Option Income Strategy ETF | 9.67% | 92,068 | 25.00 |
| YBIT | YieldMax Bitcoin Option Income Strategy ETF | 9.44% | 2,492,634 | 75.39 |
| SETH | ProShares Short Ether Strategy ETF | 8.95% | 230,807 | 3.63 |
| YOLO | AdvisorShares Pure Cannabis ETF | 7.40% | 588,021 | 35.27 |
| TOKE | Cambria Cannabis ETF | 6.92% | 129,509 | 15.85 |
| MJ | Amplify Alternative Harvest ETF | 6.54% | 10,496,455 | 183.14 |
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.
