Massive Weekly Outflows For SPY & HYG

U.S.-listed ETFs saw a big net outflow in the week ending Thursday, May 5.
Reviewed by: Staff
Edited by: 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%
Asset Allocation-4.875,715.81-0.09%

Top 10 Volume Surprises, Funds >$50 mm AUM

TickerNameAverage Volume
(30 Day)
1 Week Average
% 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. is the single source for ETF intelligence. We provide real-time ETF news and analysis to educate investors and drive financial knowledge in the space. Our personalized and accurate information, alongside industry-leading financial tools, are depended upon to develop winning investment and financial decisions. At, we strive to serve both the individual investor as well as the professional financial advisor to educate and grow the ETF community.