Investors Flocked to QQQ, Dumped TLT Last Week

Sumit Roy

Senior ETF Analyst

Nov 18, 2024

Reviewed by: etf.com Staff

Edited by: Kiran Aditham

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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.

Sumit Roy

| Contact: [email protected]

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.

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Investors Flocked to QQQ, Dumped TLT Last Week

Investors Remain Bullish on Stocks as 2024 Closes

Top 10 Redemptions (All ETFs)

ETF Weekly Flows By Asset Class

Top 10 Volume Surprises, Funds >$50 mm AUM

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

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