New Japan ETF Still Hot, Now Over $1.5B
Positive earnings and trade developments encouraged investors to add money to U.S. equity ETFs.
The U.S. stock market continued to advance this week, bolstered by strong earnings numbers and an easing of trade war fears.
Facebook’s big blunder aside, most U.S. companies continued to beat profit expectations. According to FactSet, of the S&P 500 companies that have reported earnings for Q2, 83% topped analyst estimates, the largest percentage in at least a decade.
Meanwhile, the U.S. and Europe agreed to negotiate lower trade barriers after President Trump and Jean-Claude Juncker, head of the European Commission, met on Wednesday. The preliminary deal at least temporarily defused a growing trade rift between two of the world’s largest economies.
Fired up by the week’s good news, investors pushed the S&P 500 to as high as 2,848 on Wednesday, less than 1% below its record high set in January. Though it slipped back by week’s end, investors remained optimistic, adding $6.6 billion to U.S.-listed ETFs, including $6.2 billion into U.S. equity ETFs, during the week ending Thursday, July 26.
Year-to-date inflows now stand at $143.6 billion.
Millions More Pour Into ‘BBJP’
Topping the individual ETF inflows list was the SPDR S&P 500 ETF Trust (SPY), with creations of $3.6 billion.
That was followed by the Vanguard Value ETF (VTV), the Technology Select Sector SPDR Fund (XLK) and the JPMorgan BetaBuilders Japan ETF (BBJP).
Last week, after becoming the second-fastest ETF to reach $1 billion in assets, BBJP picked up $500 million in assets this week, bringing its total AUM to $1.56 billion.
On the other side of the ledger, the Invesco QQQ Trust (QQQ) took the No. 1 position on the outflows list, shedding $1.4 billion in assets. The VanEck Vectors Semiconductor ETF (SMH) was the biggest loser on a percentage basis; assets for the fund nearly halved during the week. SMH also happens to be the most-shorted of all ETFs.
For a full list of this week’s top inflows and outflows, see the tables below:
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| SPY | SPDR S&P 500 ETF Trust | 3,584.23 | 272,874.96 | 1.33% |
| VTV | Vanguard Value ETF | 609.02 | 42,064.50 | 1.47% |
| XLK | Technology Select Sector SPDR Fund | 516.25 | 23,632.67 | 2.23% |
| BBJP | JPMorgan BetaBuilders Japan ETF | 500.46 | 1,562.88 | 47.11% |
| VTI | Vanguard Total Stock Market ETF | 474.08 | 102,626.12 | 0.46% |
| VOO | Vanguard S&P 500 ETF | 455.80 | 95,742.77 | 0.48% |
| IEMG | iShares Core MSCI Emerging Markets ETF | 413.51 | 48,255.98 | 0.86% |
| DIA | SPDR Dow Jones Industrial Average ETF Trust | 401.17 | 21,773.08 | 1.88% |
| IEF | iShares 7-10 Year Treasury Bond ETF | 377.42 | 8,774.34 | 4.49% |
| TLT | iShares 20+ Year Treasury Bond ETF | 315.43 | 7,726.76 | 4.26% |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| QQQ | Invesco QQQ Trust | -1,448.01 | 69,891.32 | -2.03% |
| IVV | iShares Core S&P 500 ETF | -845.69 | 154,893.39 | -0.54% |
| IWV | iShares Russell 3000 ETF | -717.49 | 8,985.90 | -7.39% |
| SMH | VanEck Vectors Semiconductor ETF | -609.39 | 732.92 | -45.40% |
| BIV | Vanguard Intermediate-Term Bond ETF | -331.02 | 13,097.10 | -2.47% |
| HYG | iShares iBoxx USD High Yield Corporate Bond ETF | -272.91 | 15,535.33 | -1.73% |
| AMLP | Alerian MLP ETF | -261.35 | 10,184.42 | -2.50% |
| TDTT | FlexShares iBoxx 3 Year Target Duration TIPS Index Fund | -257.27 | 1,893.82 | -11.96% |
| EWJ | iShares MSCI Japan ETF | -234.82 | 17,748.55 | -1.31% |
| IVE | iShares S&P 500 Value ETF | -196.88 | 14,501.27 | -1.34% |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | 6,224.11 | 2,091,390.21 | 0.30% |
| International Equity | 226.65 | 807,789.20 | 0.03% |
| U.S. Fixed Income | 352.07 | 560,595.02 | 0.06% |
| International Fixed Income | 71.40 | 63,261.67 | 0.11% |
| Commodities | -29.01 | 63,344.69 | -0.05% |
| Currency | -26.11 | 1,138.65 | -2.29% |
| Leveraged | -120.11 | 37,740.51 | -0.32% |
| Inverse | -148.59 | 12,737.91 | -1.17% |
| Asset Allocation | 8.86 | 9,438.20 | 0.09% |
| Alternatives | 2.46 | 4,419.68 | 0.06% |
| Total: | 6,561.73 | 3,651,855.75 | 0.18% |
Asset Classes (Year-to-Date)
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | 49,884.97 | 2,091,390.21 | 2.39% |
| International Equity | 31,453.27 | 807,789.20 | 3.89% |
| U.S. Fixed Income | 48,833.28 | 560,595.02 | 8.71% |
| International Fixed Income | 6,713.04 | 63,261.67 | 10.61% |
| Commodities | 896.53 | 63,344.69 | 1.42% |
| Currency | -55.12 | 1,138.65 | -4.84% |
| Leveraged | 2,735.45 | 37,740.51 | 7.25% |
| Inverse | 2,371.56 | 12,737.91 | 18.62% |
| Asset Allocation | 620.15 | 9,438.20 | 6.57% |
| Alternatives | 164.97 | 4,419.68 | 3.73% |
| Total: | 143,618.11 | 3,651,855.75 | 3.93% |
Top 10 Volume Surprises, Funds >$50 mm AUM
| Ticker | Name | Average Volume (30 Day) | 1 Week Average Volume | % of Average |
| DEEF | Xtrackers FTSE Developed ex U.S. Comprehensive Factor ETF | 16,463 | 71,910 | 436.79% |
| SPYX | SPDR S&P 500 Fossil Fuel Reserves Free ETF | 12,452 | 45,327 | 364.02% |
| ARCM | Arrow Reserve Capital Management ETF | 583 | 1,872 | 321.11% |
| AIQ | Global X Future Analytics Tech ETF | 27,897 | 72,377 | 259.44% |
| QLTA | iShares Aaa-A Rated Corporate Bond ETF | 24,328 | 60,152 | 247.25% |
| IWV | iShares Russell 3000 ETF | 581,946 | 1,239,636 | 213.02% |
| BCM | Path Pure Beta Broad Commodity ETN | 1,979 | 4,182 | 211.28% |
| PPH | VanEck Vectors Pharmaceutical ETF | 21,978 | 45,438 | 206.74% |
| MLN | VanEck Vectors AMT-Free Long Municipal Index ETF | 39,708 | 78,582 | 197.90% |
| FALN | iShares Fallen Angels USD Bond ETF | 34,172 | 62,281 | 182.26% |
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.
