Monster Month For New ETF Assets

Nov. shaping up to be one of the biggest months for new assets in U.S.-listed ETFs.

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Editor-in-Chief
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Reviewed by: Drew Voros
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Edited by: Drew Voros

With the end of November just a few days away, it is safe to say this month is approaching one of the biggest months ever for new assets flowing into U.S.-listed ETFs.

For the week ending Thursday, Nov. 26, more than $17 billion of ETF inflows registered, taking the month’s total to more than $80 billion, with $90 billion a realistic possibility. And for the year, the total now tops $430 billion, well within striking distance of 2017’s annual record of $475 billion.

Despite the tumultuous past weeks that included market volatility, the election of Joe Biden as president, a worldwide spike in COVID-19 cases while at the same time announcements that vaccines are now weeks away, investors continue to invest heavily in U.S. equities, with $7.8 billion of new inflows, led by the Vanguard Total Stock Market ETF (VTI) seeing the highest demand, with $1.1 billion of new investor funds.  

Ironically or not, SPDR S&P 500 ETF Trust (SPY) led outflows, with $2.7 billion. The $323 billion fund typically is used more and more as a trading tool in volatile markets because of its high liquidity, and this may be an example of that. No other large broad-based equity fund landed on the top outflows list.

For most of the year, demand for U.S. fixed income ETFs has outpaced U.S. equities by close to a 2-1 margin. However, over the last few weeks as bond yields have risen, and price fell, investors have been favoring U.S. equities more. Year-to-date, U.S. fixed income ETFs has attracted  more than $170 billion in new assets, compared to $142 billion for U.S. equities.

Fixed Income A Mixed Bag

U.S. fixed income ETFs were represented in the top inflows, with iShares Core U.S. Aggregate Bond ETF (AGG) seeing more than $1 billion, the iShares 1-5 Year Investment Grade Corporate Bond ETF (IGSB) adding $800 million and iShares Boxx USD Investment Grade Corporate Bond ETF (LQD) getting $738 million.

On the outflows side of the coin, iShares 7-10 Year Treasury Bond ETF (IEF) had $1.9 billion in assets exit, along with iShares Short Treasury Bond ETF (SHV) and iShares 20+ Year Treasury Bond ETF (TLT) seeing $487 million and $334 million, respectively.

Gold & Silver Selloff

Commodities was the lone asset class to register a net outflow, with the bulk of the $1.95 billion out lows coming from SPDR Gold Trust (GLD) and iShares Silver Trust (SLV) with $1.4 billion and $478 million, respectively. Gold and silver prices have been falling in the face of rising bond rates.

For a list of this week's top inflows and outflows, see the tables below:

Top 10 Creations (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
VTIVanguard Total Stock Market ETF1,125.71189,219.550.59%
AGGiShares Core U.S. Aggregate Bond ETF1,003.6482,974.731.21%
IGSBiShares 1-5 Year Investment Grade Corporate Bond ETF799.6121,624.033.70%
LQDiShares iBoxx USD Investment Grade Corporate Bond ETF738.7258,013.181.27%
XLFFinancial Select Sector SPDR Fund736.4322,585.333.26%
QQQInvesco QQQ Trust726.67141,389.430.51%
EWJiShares MSCI Japan ETF723.1512,626.385.73%
IWMiShares Russell 2000 ETF710.9851,310.321.39%
VXUSVanguard Total International Stock ETF652.0834,859.181.87%
VOOVanguard S&P 500 ETF625.56177,529.830.35%

 

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
SPYSPDR S&P 500 ETF Trust-2,780.10323,767.53-0.86%
IEFiShares 7-10 Year Treasury Bond ETF-1,902.8516,317.21-11.66%
GLDSPDR Gold Trust-1,435.0169,109.08-2.08%
SPYGSPDR Portfolio S&P 500 Growth ETF-570.359,200.56-6.20%
USMViShares MSCI USA Min Vol Factor ETF-551.8733,819.91-1.63%
SHViShares Short Treasury Bond ETF-487.0018,993.15-2.56%
SLViShares Silver Trust-477.9012,623.04-3.79%
TLTiShares 20+ Year Treasury Bond ETF-334.9618,046.40-1.86%
IBBiShares NASDAQ Biotechnology ETF-297.789,168.73-3.25%
XLKTechnology Select Sector SPDR Fund-229.2436,240.56-0.63%

 

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity7,787.442,973,565.550.26%
International Equity6,179.07980,759.910.63%
U.S. Fixed Income3,812.00955,144.360.40%
International Fixed Income847.21118,094.170.72%
Commodities-1,947.23137,134.70-1.42%
Currency5.571,834.330.30%
Leveraged234.0340,930.510.57%
Inverse178.0712,008.091.48%
Asset Allocation78.7412,848.440.61%
Alternatives137.155,202.282.64%
Total:17,312.055,237,522.350.33%

 

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity142,054.782,973,565.554.78%
International Equity38,897.10980,759.913.97%
U.S. Fixed Income170,229.65955,144.3617.82%
International Fixed Income20,629.92118,094.1717.47%
Commodities40,974.51137,134.7029.88%
Currency486.691,834.3326.53%
Leveraged1,161.0240,930.512.84%
Inverse13,336.4912,008.09111.06%
Asset Allocation2,627.3412,848.4420.45%
Alternatives211.565,202.284.07%
Total:430,609.065,237,522.358.22%

 

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

TickerNameWeekly PerformanceWeekly VolumeAUM ($, mm)
PSMPrincipal U.S. Small-MidCap Multi-Factor ETF22.25%1,10011.47
XESSPDR S&P Oil & Gas Equipment & Services ETF14.76%549,636119.31
FRAKVanEck Vectors Unconventional Oil & Gas ETF14.17%10,12011.34
PXJInvesco Dynamic Oil & Gas Services ETF13.95%334,3408.50
OIHVanEck Vectors Oil Services ETF13.80%2,357,224664.75
XOPSPDR S&P Oil & Gas Exploration & Production ETF13.41%36,443,0662,378.21
FCGFirst Trust Natural Gas ETF13.40%4,070,046115.17
RYEInvesco S&P 500 Equal Weight Energy ETF13.26%286,43860.86
PXIInvesco DWA Energy Momentum ETF13.05%49,66919.26
IEZiShares U.S. Oil Equipment & Services ETF12.92%988,06966.63

 

Top 10 YTD Performers

TickerNameYTD PerformanceWeekly PerformanceAUM ($, mm)
PBWInvesco WilderHill Clean Energy ETF171.03%10.78%1,641.27
TANInvesco Solar ETF169.58%8.95%2,508.55
QCLNFirst Trust NASDAQ Clean Edge Green Energy Index Fund156.47%8.79%1,490.25
ARKWARK Next Generation Internet ETF124.36%4.09%3,902.66
ARKGARK Genomic Revolution ETF122.91%-0.49%3,658.81
KGRNKraneShares MSCI China Environment Index ETF119.52%6.68%46.43
ARKKARK Innovation ETF112.07%2.79%12,255.69
ACESALPS Clean Energy ETF108.92%7.64%602.73
CNRGSPDR S&P Kensho Clean Power ETF107.93%8.75%143.18
PBDInvesco Global Clean Energy ETF107.45%6.80%186.00

 

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.

Drew Voros has nearly 30 years' experience in financial journalism. He was a longtime business editor for the Oakland Tribune and sister papers of the Bay Area News Group, and finance writer for the Hollywood trade publication Variety. Voros' past roles have also included editor-in-chief at etf.com and ETF Report.