Investors Race To Safety Of Bond ETFs

January 31, 2020

In a week marked by escalating concerns about a global epidemic of coronavirus—and its impact on markets—investors poured nearly $3 billion into U.S.-listed fixed income ETFs.

In the past week ended Thursday, Jan. 30, ETF investors were opting for some of the biggest and broadest investment-grade strategies. Among them, the Vanguard Total Bond Market ETF (BND) and the iShares Core U.S. Aggregate Bond ETF (AGG) took in a combined $1.2 billion in fresh net assets.

The flip side of that was sizable outflows seen from riskier, junk bonds—the iShares iBoxx USD High Yield Corporate Bond ETF (HYG), for example, led the week’s redemptions with net outflows of some $1.6 billion in assets.

In aggregate, the U.S. ETF market attracted a net of $5.6 billion in net new assets, finishing the month with about $4.5 trillion in total assets under management.

Top 10 Creations (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
IEFA iShares Core MSCI EAFE ETF 2,048.05 75,175.00 2.72%
IVV iShares Core S&P 500 ETF 1,186.64 206,335.02 0.58%
SDY SPDR S&P Dividend ETF 1,054.56 20,509.18 5.14%
VOO Vanguard S&P 500 ETF 826.68 134,437.18 0.61%
SPY SPDR S&P 500 ETF Trust 795.19 311,828.15 0.26%
BND Vanguard Total Bond Market ETF 740.02 51,251.75 1.44%
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 634.59 4,349.97 14.59%
LMBS First Trust Low Duration Opportunities ETF 610.02 4,699.65 12.98%
IEF iShares 7-10 Year Treasury Bond ETF 596.61 18,756.19 3.18%
AGG iShares Core U.S. Aggregate Bond ETF 524.52 72,415.28 0.72%

 

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
HYG iShares iBoxx USD High Yield Corporate Bond ETF -1,613.74 17,880.93 -9.02%
XLF Financial Select Sector SPDR Fund -895.97 24,738.05 -3.62%
EEM iShares MSCI Emerging Markets ETF -817.10 29,639.89 -2.76%
IWM iShares Russell 2000 ETF -782.29 44,944.09 -1.74%
SPSM SPDR Portfolio S&P 600 Small Cap ETF -769.78 1,627.35 -47.30%
XLP Consumer Staples Select Sector SPDR Fund -744.08 13,108.90 -5.68%
QQQ Invesco QQQ Trust -675.43 89,601.27 -0.75%
XLK Technology Select Sector SPDR Fund -604.02 27,709.31 -2.18%
SHY iShares 1-3 Year Treasury Bond ETF -534.46 17,052.54 -3.13%
XLI Industrial Select Sector SPDR Fund -527.21 12,181.54 -4.33%

 

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 326.05 2,574,883.71 0.01%
International Equity 1,105.98 896,900.74 0.12%
U.S. Fixed Income 2,936.78 782,760.59 0.38%
International Fixed Income 73.28 93,671.27 0.08%
Commodities ETFs 620.13 85,160.10 0.73%
Currency -16.79 1,396.58 -1.20%
Leveraged 306.38 41,080.03 0.75%
Inverse 234.64 11,859.20 1.98%
Asset Allocation -12.42 10,923.84 -0.11%
Alternatives 52.33 4,906.27 1.07%
Total: 5,626.35 4,503,542.33 0.12%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 15,740.50 2,574,883.71 0.61%
International Equity 11,365.65 896,900.74 1.27%
U.S. Fixed Income 15,125.25 782,760.59 1.93%
International Fixed Income 2,392.28 93,671.27 2.55%
Commodities ETFs 2,008.61 85,160.10 2.36%
Currency 39.30 1,396.58 2.81%
Leveraged 735.62 41,080.03 1.79%
Inverse 373.99 11,859.20 3.15%
Asset Allocation 208.31 10,923.84 1.91%
Alternatives 346.27 4,906.27 7.06%
Total: 48,335.78 4,503,542.33 1.07%

 

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
OPER ClearShares Ultra-Short Maturity ETF 6,078 26,860 441.90%
YGRN MicroSectors U.S. Big Oil Index Inverse ETN 37 183 493.92%
FNK First Trust Mid Cap Value AlphaDEX Fund 6,110 23,941 391.84%
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B 10,892 47,899 439.76%
USHY iShares Broad USD High Yield Corporate Bond ETF 995,766 3,123,387 313.67%
DFJ WisdomTree Japan SmallCap Dividend Fund 64,149 139,857 218.02%
GSST Goldman Sachs Access Ultra Short Bond ETF 16,395 28,818 175.77%
YLD Principal Active Income ETF 8,372 20,707 247.34%
FTXO First Trust Nasdaq Bank ETF 48,157 97,095 201.62%
VRIG Invesco Variable Rate Investment Grade ETF 109,798 227,321 207.04%

 

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
VXX iPath Series B S&P 500 VIX Short Term Futures ETN 4.28% 271,257,065 995.69
VIXY ProShares VIX Short-Term Futures ETF 4.18% 23,782,378 301.63
VIIX VelocityShares Daily Long VIX Short-Term ETN 4.08% 232,127 20.49
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index ETF 2.48% 259,595 318.47
EDV Vanguard Extended Duration Treasury ETF 2.20% 919,796 1,237.71
VXZ iPath Series B S&P 500 VIX Mid-Term Futures ETN 2.19% 300,749 23.25
VIXM ProShares VIX Mid-Term Futures ETF 1.88% 609,311 48.14
TLT iShares 20+ Year Treasury Bond ETF 1.75% 37,725,600 19,205.86
SCHQ Schwab Long-Term U.S. Treasury ETF 1.74% 38,746 20.08
VGLT Vanguard Long-Term Treasury Index ETF 1.73% 922,420 1,713.49

 

Top 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
PALL Aberdeen Standard Physical Palladium Shares ETF 19.09% -4.93% 364.67
NIB iPath Bloomberg Cocoa Subindex Total Return ETN 11.85% -0.25% 22.32
ARKW ARK Next Generation Internet ETF 11.51% 0.33% 457.26
WCLD WisdomTree Cloud Computing Fund 11.11% 0.62% 21.01
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index ETF 10.03% 2.48% 318.47
CLOU Global X Cloud Computing ETF 9.70% -0.17% 455.64
ITB iShares U.S. Home Construction ETF 9.46% 0.62% 1,446.71
ACES ALPS Clean Energy ETF 9.33% 0.29% 138.81
EDV Vanguard Extended Duration Treasury ETF 9.19% 2.20% 1,237.71
FNGS MicroSectors FANG+ ETN 8.91% 0.15% 35.66

 

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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