NVDA ETF Gained Most Last Week; QQQ Led Outflows

The Moderna single-stock ETF jumped last week while investors pumped $2.2 billion into VGIT.

RonDay
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Managing Editor
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Reviewed by: etf.com Staff
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Edited by: James Rubin

Single stock ETFs tracking Nvidia Corp. and Moderna Inc., two companies that reported quarterly results that beat expectations, were last week’s best performers while billions departing the popular QQQ may signal investors think the tech rally is losing steam. 

The $188.1 million YieldMax NVDA Option Income Strategy ETF (NVDY) gained 14% last week after the maker of semiconductors for artificial intelligence applications reported a fourth quarter that beat earnings and sales estimates and boosted its outlook for both. The fund uses covered calls to generate income. 

The week’s second-best performer was YieldMax’s $19.5 million YieldMax MRNA Option Income Strategy ETF (MRNY), which leapt 12%. The fund also seeks to generate income and follows Moderna, the pharmaceutical company that last week surprised investors by reporting fourth-quarter profit when a loss was expected. 

Both ETFs outperformed the Standard & Poor’s 500 as measured by the S&P 500 ETF Trust (SPY), which rose 1.7% last week. 

Last week’s gain in the S&P 500 added to the 12% the index has appreciated over the past three months, which is the kind of return investors expect to see over a period four times as long. Those gains may have led to concerns that technology stocks—a handful of which being responsible for an outsized proportion of the index’s gains—are due for a breather. 

The Invesco QQQ Trust (QQQ), with a 48% gain over the past year, led the week in outflows, shedding $3.49 billion. That was 1.4% of the funds’ assets. QQQ tracks a modified-market-cap-weighted index of 100 NASDAQ-listed stocks, and brings more risk that a broad index fund. It has gained thanks partly to the performances of a narrow pack of stocks, the so-called Magnificent 7, which includes Nvidia and Apple Inc.

Nvidia has more than tripled over the past year and its huge earnings day, and 16% stock jump on Feb. 22, may have led investors to put money into more conservative exchange-traded funds.

The biggest recipient of investor money last week was the iShares Core S&P 500 ETF (IVV), a broad S&P 500 fund, which brought in $2.18 billion. The Vanguard Intermediate-Term Treasury Index ETF (VGIT) pulled in $1.73 billion while the iShares Russell ETF (IWM) brought in $1.44 billion. 

Below are top inflows and outflows for last week. The week's top performers can be found here.

Top 10 Creations (All ETFs)

TickerNameNet Flows ($, mm)AUM ($, mm)AUM % Change<
IVViShares Core S&P 500 ETF2,183.79443,614.760.49
VGITVanguard Intermediate-Term Treasury Index ETF1,727.3823,785.037.26
IWMiShares Russell 2000 ETF1,440.8261,827.052.33
SHYiShares 1-3 Year Treasury Bond ETF669.1125,923.202.58
SMHVanEck Semiconductor ETF622.4016,004.643.89
VTIVanguard Total Stock Market ETF570.12374,002.480.15
IBITiShares Bitcoin Trust567.306,573.018.63
BBEUJPMorgan BetaBuilders Europe ETF548.077,139.457.68
VOOVanguard 500 Index Fund509.69413,403.450.12
VGLTVanguard Long-Term Treasury Index ETF473.9911,284.954.20



 

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($, mm)AUM ($, mm)AUM % Change
QQQInvesco QQQ Trust-3,488.13250,294.78-1.39
LQDiShares iBoxx USD Investment Grade Corporate Bond ETF-857.7832,293.77-2.66
GLDSPDR Gold Trust-655.8753,855.25-1.22
QQQMInvesco NASDAQ 100 ETF-628.6822,152.69-2.84
GBTCGrayscale Bitcoin Trust ETF-542.4423,145.37-2.34
TLTiShares 20+ Year Treasury Bond ETF-527.7948,587.35-1.09
HYGiShares iBoxx USD High Yield Corporate Bond ETF-471.7316,666.82-2.83
FDVVFidelity High Dividend ETF-468.172,295.28-20.40
VGSHVanguard Short-Term Treasury Index Fund-397.2720,634.00-1.93
SOXLDirexion Daily Semiconductor Bull 3X Shares-382.759,142.25-4.19



 

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
Alternatives19.706,969.990.28%
Asset Allocation29.7117,298.650.17%
Commodities-887.75123,290.94-0.72%
Currency690.7641,972.081.65%
International Equity2,519.821,411,191.050.18%
International Fixed Income867.87174,480.960.50%
Inverse-407.6814,159.70-2.88%
Leveraged-377.4188,734.48-0.43%
U.S. Equity5,065.995,253,289.300.10%
U.S. Fixed Income2,766.911,358,582.780.20%
Total:10,287.918,489,969.920.12%



 

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
Alternatives171.806,768.702.54%
Asset Allocation-281.0616,971.70-1.66%
Commodities-3,197.52126,628.29-2.53%
Currency-2,913.6731,912.51-9.13%
International Equity5,095.341,364,386.370.37%
International Fixed Income3,966.13172,530.782.30%
Inverse-1,289.2613,943.18-9.25%
Leveraged-2,261.4485,121.53-2.66%
U.S. Equity14,473.645,099,264.250.28%
U.S. Fixed Income17,263.421,367,475.781.26%
Total:31,027.398,285,003.090.37%



 

Top 10 Volume Surprises, Funds >$50 mm AUM

TickerNameAverage Volume
(30 Day)
1 Week Average
Volume
% of Average
FLCOFranklin Investment Grade Corporate ETF540,82213,890,634.002,568.43%%
UBNDVictoryShares Core Plus Intermediate Bond ETF76,6851,560,828.002,035.37%%
CARYAngel Oak Income ETF120,8881,786,335.001,477.67%%
ERTHInvesco MSCI Sustainable Future ETF21,207277,235.001,307.29%%
VETZAcademy Veteran Impact ETF4966,162.001,242.16%%
SMTHALPS Smith Core Plus Bond ETF342,3033,860,364.001,127.76%%
DWMWisdomTree International Equity Fund43,367479,203.001,105.00%%
UYLDAngel Oak Ultrashort Income ETF85,482834,690.00976.45%%
GSIDGoldman Sachs MarketBeta International Equity ETF31,764270,122.00850.40%%
BOCTInnovator U.S. Equity Buffer ETF - October19,174161,605.00842.82%%



 

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

TickerNameWeekly PerformanceWeekly VolumeAUM ($, mm)
NVDYYieldMax NVDA Option Income Strategy ETF13.99%1,475,433217.80
MRNYYieldMax MRNA Option Income Strategy ETF12.30%106,92121.26
UNGUnited States Natural Gas Fund LP10.22%24,465,636855.01
UNLUnited States 12 Month Natural Gas Fund LP9.19%422,00515.10
AMDYYieldMax AMD Option Income Strategy ETF8.97%739,50281.25
SMHVanEck Semiconductor ETF6.14%31,498,18316,004.64
TESLSimplify Volt TSLA Revolution ETF5.58%12,4300.00
MAGSRoundhill Magnificent Seven ETF4.75%833,467149.41
BSSXInvesco BulletShares 2033 Municipal Bond ETF4.75%102,75428.82
CHPSXtrackers Semiconductor Select Equity ETF4.70%4,0736.29



 

Top 10 YTD Performers

TickerNameYTD PerformanceWeekly PerformanceAUM ($, mm)
NVDYYieldMax NVDA Option Income Strategy ETF37.98%13.99%217.80
GBTCGrayscale Bitcoin Trust ETF34.14%0.06%23,145.37
WEEDRoundhill Cannabis ETF31.98% 9.41
MSOSAdvisorShares Pure US Cannabis ETF30.96%3.85%960.97
EETHProShares Ether Strategy ETF28.82%0.82%33.47
MJUSAmplify U.S. Alternative Harvest ETF28.50%2.46%119.65
ARKZARK 21Shares Active Ethereum Futures Strategy ETF28.38%0.85%6.65
KSETKraneShares Global Carbon Offset Strategy ETF28.19%-0.40%1.13
ARKYARK 21Shares Active Bitcoin Ethereum Strategy ETF27.61%0.56%2.88
AETHBitwise Ethereum Strategy ETF27.48%0.87%6.17



 

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.

Ron Day is Managing Editor at etf.com. He joined the company in October 2022 and previously served as editor and deputy managing editor.

Ron covered business and financial news at Bloomberg News for 20 years, working on the breaking news, technology, commodities, headlines and First Word teams. He was previously senior editor at ESG news outlet Karma Impact and filled the same role at Boundless Impact. He also covered a variety of beats at New Jersey daily papers including the Daily Record in Parsippany, the North Jersey Herald & News and the Asbury Park Press. Ron's freelance work has been published in AARP.com, Investopedia.com and BigThink.com.

Ron is an advocate and fan of literacy. He hopes to one day master his Telecaster, rather than the other way around. His wonderful family includes a 10-lb. malti-poo named Emmy.