Nvidia ETF Tops Inflows in Wake of Big Drop in Stock Price
NVDL topped Last week's inflows with nearly $1.9 billion accumulated, as investors capitalized on a big drop in Nvidia's stock.
Shares of Nvidi Corp. cratered last week, but ETF investors saw it as a buying opportunity. Nearly $1.9 billion flowed into the GraniteShares 2x Long NVDA Daily ETF (NVDL) in the week ending Friday, Jan. 31, the most of any US-listed exchange-traded fund.
The inflows helped keep NVDL’s assets under management steady at around $5 billion despite a steep drop in shares of Nvidia and, consequently, the price of NVDL. Shares of Nvidia tumbled 17% in a single session on Jan. 27, fueling a 34% drop in NVDL, on the back of concerns related to the Chinese artificial intelligence model DeepSeek.
Despite buying NVDL at a big discount, so far, bargain hunters are underwater. On Monday, the ETF dropped as much as 12% to $43, almost half the price it traded at as recently as Jan. 6.
Recent swoon aside, analysts remain upbeat on Nvidia’s stock. The average 12-month price target among analysts tracked by Bloomberg is $175, significantly higher than the current $116 share price.
A Rare Occurrence for Single-Stock ETFs
It’s unusual to see a single-stock leveraged ETF atop the weekly inflows list. NVDL edged out the $87 billion Vanguard Information Technology ETF (VGT), which had inflows of just over $1.8 billion last week.
Rounding out the top five on the weekly inflows list were the Financial Select Sector SPDR Fund (XLF), the Direxion Daily Semiconductor Bull 3x Shares (SOXL), and the iShares Russell 2000 ETF (IWM), with inflows ranging between $1.2 billion and $1.7 billion.
SOXL is another leveraged ETF that tracks semiconductor stocks. The underlying index that the fund tracks is the NYSE Semiconductor Index, which counts Nvidia as its second-largest component, with an 8% weighting.
Broadcom is the top stock in the index, with a 11.5% weighting. Shares of the rival chipmaker also dropped 17% last Monday, though they’ve performed better than Nvidia since then.
Top 10 Creations (All ETFs)
Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change< |
NVDL | GraniteShares 2x Long NVDA Daily ETF | 1,886.54 | 4,988.49 | 37.82 |
VGT | Vanguard Information Technology ETF | 1,812.77 | 87,356.15 | 2.08 |
XLF | Financial Select Sector SPDR Fund | 1,654.09 | 53,885.20 | 3.07 |
SOXL | Direxion Daily Semiconductor Bull 3x Shares | 1,650.85 | 9,242.53 | 17.86 |
IWM | iShares Russell 2000 ETF | 1,211.36 | 74,579.60 | 1.62 |
SPY | SPDR S&P 500 ETF Trust | 1,083.02 | 630,305.28 | 0.17 |
JAAA | Janus Detroit Street Trust Janus Henderson AAA CLO ETF | 1,079.71 | 19,739.25 | 5.47 |
SPYD | SPDR Portfolio S&P 500 High Dividend ETF | 1,006.17 | 7,808.44 | 12.89 |
SPHD | Invesco S&P 500 High Dividend Low Volatility ETF | 791.35 | 4,151.10 | 19.06 |
SPLG | SPDR Portfolio S&P 500 ETF | 693.70 | 58,046.72 | 1.20 |
Top 10 Redemptions (All ETFs)
Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change |
SPY | SPDR S&P 500 ETF Trust | -1,730.50 | 630,822.02 | -0.27 |
IVV | iShares Core S&P 500 ETF | -1,661.94 | 603,869.46 | -0.28 |
DIA | SPDR Dow Jones Industrial Average ETF Trust | -1,184.25 | 38,099.91 | -3.11 |
SMH | VanEck Semiconductor ETF | -991.93 | 23,124.39 | -4.29 |
VTWO | Vanguard Russell 2000 ETF | -933.34 | 11,859.28 | -7.87 |
IWD | iShares Russell 1000 Value ETF | -797.02 | 62,831.42 | -1.27 |
SOXS | Direxion Daily Semiconductor Bear 3x Shares | -529.63 | 604.28 | -87.65 |
USHY | iShares Broad USD High Yield Corporate Bond ETF | -497.34 | 18,685.30 | -2.66 |
QUAL | iShares MSCI USA Quality Factor ETF | -496.05 | 51,790.28 | -0.96 |
XLV | Health Care Select Sector SPDR Fund | -415.26 | 39,336.06 | -1.06 |
ETF Weekly Flows By Asset Class
Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
Alternatives | -50.33 | 9,383.54 | -0.54% |
Asset Allocation | -38.57 | 22,289.49 | -0.17% |
Commodities ETFs | 368.21 | 168,670.97 | 0.22% |
Currency | 443.18 | 140,213.20 | 0.32% |
International Equity | 1,561.37 | 1,602,984.18 | 0.10% |
International Fixed Income | 3,238.43 | 266,845.19 | 1.21% |
Inverse | -721.24 | 11,498.47 | -6.27% |
Leveraged | 3,756.48 | 131,017.67 | 2.87% |
U.S. Equity | 14,297.73 | 6,884,412.95 | 0.21% |
U.S. Fixed Income | 5,843.75 | 1,573,349.35 | 0.37% |
Total: | 28,699.02 | 10,810,665.00 | 0.27% |
Disclaimer: All data as of 6 a.m. ET 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.