Investors Scoop Up 'SPY' & 'SHV' In Market Rout

Some investors used this week's pullback to buy in to U.S. equities, while others rushed in to the safe haven of Treasury ETFs.

ETF.com
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Reviewed by: etf.com Staff
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Edited by: etf.com Staff

Another volatile week in financial markets led to big action in exchange-traded fund flows. Billions flowed into and out of some of the most popular funds as stock markets plunged and then rebounded, while government bonds surged and then retreated.

For the week ending Friday, the S&P 500 was on track for a 0.6% gain (as of this writing) after briefly plunging to a 3.6% weekly loss on Wednesday. That day's 1,812 low was the lowest level for the index since February 2014.

US Equity ETFs Mixed

The following flows data covers the week ending Thursday, but it shows that investors used the dip in the market to buy aggressively into the S&P 500. The SPDR S&P 500 (SPY | A-98) saw inflows of $6.5 billion in the period.

However, on the whole, U.S. equity ETFs saw outflows of $222 million due to redemptions in funds like the iShares Russell 2000 (IWM | A-92) and the PowerShares QQQ (QQQ | A-65). The Russell 2000 briefly fell to its lowest level since June 2013 on Wednesday, down 26% from its all-time high.

EEM Sees Huge Outflows

In contrast to the massive inflows into SPY this week, an emerging markets fund, the iShares MSCI Emerging Markets ETF (EEM | B-100), was a big loser, with outflows of $1.1 billion.

Following closely behind on the outflows list was the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD | A-77), which lost $797 million.

Treasury ETFs Big Winners

While corporate bond ETFs hemorrhaged hundreds of millions of dollars this week, investors were enamored with Treasury ETFs. After SPY, the next three ETFs that garnered the largest inflows were all Treasury-related.

The iShares Short Treasury Bond ETF (SHV | A-97) gained $1.5 billion; the iShares 20+ Year Treasury Bond ETF (TLT | A-83) added $629 million; and the iShares 7-10 Year Treasury Bond ETF ( IEF | A-55) garnered $346 million.

In total, U.S. fixed-income ETFs had inflows of $2.5 billion, which helped offset the outflows from international equity ETFs such as EEM. Combining all segments, U.S.-listed ETFs in general saw a modest inflow of $247 million.


Top 10 Creations (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
SPYSPDR S&P 5006,529.44164,086.264.14%
SHViShares Short Treasury Bond1,543.785,061.3943.89%
TLTiShares 20+ Year Treasury Bond629.337,830.988.74%
IEFiShares 7-10 Year Treasury Bond346.289,322.533.86%
DIASPDR Dow Jones Industrial Average Trust341.3311,452.313.07%
GLDSPDR Gold283.2423,335.361.23%
AGGiShares Core U.S. Aggregate Bond282.9731,443.200.91%
XLUUtilities Select SPDR275.906,212.784.65%
SHProShares Short S&P 500256.172,194.9813.21%
VOOVanguard S&P 500234.2638,117.640.62%

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
EEMiShares MSCI Emerging Markets-1,094.9217,360.97-5.93%
LQDiShares iBoxx $ Investment Grade Corporate Bond-796.6223,203.49-3.32%
IWMiShares Russell 2000-762.4622,325.87-3.30%
QQQPowerShares QQQ-636.1436,639.01-1.71%
IWDiShares Russell 1000 Value-507.5223,852.37-2.08%
HYGiShares iBoxx $ High Yield Corporate Bond-385.3012,276.43-3.04%
FDNFirst Trust Dow Jones Internet-363.163,557.81-9.26%
DXJWisdomTree Japan Hedged Equity-359.1611,828.13-2.95%
FBTFirst Trust NYSE Arca Biotechnology-316.822,644.92-10.70%
IWFiShares Russell 1000 Growth-296.0128,289.66-1.04%

ETF Weekly Flows By Asset Class

Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity-221.92854,159.05-0.03%
International Equity-2,637.38342,768.78-0.77%
U.S. Fixed Income2,535.29267,262.600.95%
International Fixed Income16.2322,073.360.07%
Commodities442.7137,264.101.19%
Currency80.841,098.607.36%
Leveraged449.4415,531.382.89%
Inverse71.0715,694.000.45%
Asset Allocation-225.584,305.31-5.24%
Alternatives-263.362,394.10-11.00%
Total:247.351,562,551.280.02%

Top 10 Volume Surprises, Funds >$50 mm AUM

TickerNameAverage Volume
(30 Day)
1 Week Average
Volume
% of Average
DNLWisdomTree Global ex-U.S. Quality Dividend Growth20,097100,750501.31%
SOCLGlobal X Social Media113,258657,210580.28%
PBJPowerShares Dynamic Food & Beverage166,286748,474450.11%
JPXNiShares JPX-Nikkei 40033,418118,607354.92%
TLHiShares 10-20 Year Treasury Bond75,233316,750421.03%
PDNPowerShares FTSE RAFI Developed Markets ex-U.S. Small-Mid95,819454,902474.75%
INCOEGShares India Consumer15,95555,550348.16%
IDXMarket Vectors Indonesia74,851231,993309.94%
VIOVVanguard S&P Small-Cap 600 Value6,89123,123335.54%
SHViShares Short Treasury Bond1,532,2057,465,652487.25%

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.

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