Massive Weekly Outflows For SPY & HYG

U.S.-listed ETFs saw a big net outflow in the week ending Thursday, May 5.

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

Investors aggressively pulled money out of U.S.-listed exchange-traded funds this week as concerns about the economy and corporate earnings pushed stock markets down to their lowest levels in a month. The S&P 500 briefly fell into the red for the year on Friday.

Net outflows from U.S.-listed ETFs totaled $11.6 billion in the week ending Thursday, May 5, according to FactSet data. The bulk of that money, $11.4 billion, came out of U.S. equity ETFs. But international equity ETFs and U.S. fixed-income ETFs were losers as well, with outflows of $1.2 billion and $589 million, repsectively.

Gold And Bond Inflows

On the other hand, commodity ETFs saw a net inflow of $1.6 billion, largely due to one fund. The SPDR Gold Trust (GLD | A-100) had an inflow of $1.1 billion as investors rushed into the safe-haven yellow metal. The competing iShares Gold Trust (IAU | B-100) also made the top 10 inflows list, with creations of $325 million.

Behind GLD were three safe, investment-grade bond products, which had big inflows of their own as investor fear levels grew. The iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD | A-77) had inflows of $753 million; the iShares TIPS Bond ETF (TIP | A-99) had inflows of $539 million; and the iShares Core U.S. Aggregate Bond ETF (AGG | A-98) had inflows of $476 million.

Massive Outflows From Three ETFs

Meanwhile, as is often the case in a week of big outflows, the SPDR S&P 500 ETF (SPY | A-97) led the pack in terms of redemptions. Outflows from the world's largest ETF totaled a whopping $6.7 billion.

That was followed by the PowerShares QQQ Trust (QQQ | A-66), with outflows of $2.4 billion, and the iShares iBoxx $ High Yield Corporate Bond ETF (HYG | B-68), with outflows of $2.2 billion.

HYG's huge outflows suggest investors may be cashing in on their junk bond gains after the big rally in the past 2 1/2 months.

Top 10 Creations (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
GLDSPDR Gold Trust1,056.2434,138.953.19%
LQDiShares iBoxx $ Investment Grade Corporate Bond ETF753.3629,272.522.64%
TIPiShares TIPS Bond ETF538.8917,877.813.11%
AGGiShares Core U.S. Aggregate Bond ETF475.9636,103.731.34%
EEMiShares MSCI Emerging Markets ETF418.7525,276.741.68%
IAUiShares Gold Trust325.478,043.564.22%
IWDiShares Russell 1000 Value ETF286.5826,581.791.09%
IYRiShares U.S. Real Estate ETF253.534,292.786.28%
VNQVanguard REIT Index Fund233.0231,494.020.75%
GDXVanEck Vectors Gold Miners ETF216.917,078.913.16%

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
SPYSPDR S&P 500 ETF Trust-6,737.12178,822.97-3.63%
QQQPowerShares QQQ Trust-2,449.0734,175.97-6.69%
HYGiShares iBoxx $ High Yield Corporate Bond ETF-2,208.2615,204.83-12.68%
IWMiShares Russell 2000 ETF-746.2925,301.52-2.87%
EZUiShares MSCI Eurozone ETF-733.8711,477.02-6.01%
XLIIndustrial Select Sector SPDR Fund-616.076,425.82-8.75%
XLKTechnology Select Sector SPDR Fund-503.7212,448.38-3.89%
FXIiShares China Large-Cap ETF-456.833,881.08-10.53%
SCPBSPDR Barclays Short Term Corporate Bond ETF-438.484,078.94-9.71%
DIASPDR Dow Jones Industrial Average ETF Trust-346.3312,023.98-2.80%

ETF Weekly Flows By Asset Class

Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity-11,410.251,203,252.93-0.95%
International Equity-1,218.38480,657.09-0.25%
U.S. Fixed Income-589.02371,531.08-0.16%
International Fixed Income-40.7432,414.66-0.13%
Commodities1,591.7863,936.452.49%
Currency47.971,194.484.02%
Leveraged-100.7423,833.72-0.42%
Inverse75.6420,237.130.37%
Asset Allocation-4.875,715.81-0.09%
Alternatives6.464,017.820.16%
Total:-11,642.172,206,791.16-0.53%

Top 10 Volume Surprises, Funds >$50 mm AUM

TickerNameAverage Volume
(30 Day)
1 Week Average
Volume
% of Average
HOLDAdvisorShares Sage Core Reserves ETF28,699181,251631.57%
EBNDSPDR Barclays Emerging Markets Local Bond ETF34,061169,539497.75%
JPGEJ.P. Morgan Diversified Return Global Equity ETF5,51431,490571.04%
FXEUPowerShares Europe Currency Hedged Low Volatility Portfolio197,210503,766255.45%
JETSUS Global Jets ETF35,56382,880233.05%
DGSWisdomTree Emerging Markets SmallCap Dividend Fund74,386177,909239.17%
EFGiShares MSCI EAFE Growth ETF179,925392,401218.09%
DBGRDeutsche X-trackers MSCI Germany Hedged Equity ETF43,83393,320212.90%
PXMVPowerShares Russell Midcap Pure Value Portfolio39,72870,481177.41%
IGMiShares North American Tech ETF50,430125,122248.11%

Disclaimer: All data is from FactSet, 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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