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.

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sumit
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Senior ETF Analyst
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Reviewed by: Paul Curcio
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Edited by: Kiran Aditham

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)

TickerNameNet Flows ($, mm)AUM ($, mm)AUM % Change<
NVDLGraniteShares 2x Long NVDA Daily ETF1,886.544,988.4937.82
VGTVanguard Information Technology ETF1,812.7787,356.152.08
XLFFinancial Select Sector SPDR Fund1,654.0953,885.203.07
SOXLDirexion Daily Semiconductor Bull 3x Shares1,650.859,242.5317.86
IWMiShares Russell 2000 ETF1,211.3674,579.601.62
SPYSPDR S&P 500 ETF Trust1,083.02630,305.280.17
JAAAJanus Detroit Street Trust Janus Henderson AAA CLO ETF1,079.7119,739.255.47
SPYDSPDR Portfolio S&P 500 High Dividend ETF1,006.177,808.4412.89
SPHDInvesco S&P 500 High Dividend Low Volatility ETF791.354,151.1019.06
SPLGSPDR Portfolio S&P 500 ETF693.7058,046.721.20



 

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($, mm)AUM ($, mm)AUM % Change
SPYSPDR S&P 500 ETF Trust-1,730.50630,822.02-0.27
IVViShares Core S&P 500 ETF-1,661.94603,869.46-0.28
DIASPDR Dow Jones Industrial Average ETF Trust-1,184.2538,099.91-3.11
SMHVanEck Semiconductor ETF-991.9323,124.39-4.29
VTWOVanguard Russell 2000 ETF-933.3411,859.28-7.87
IWDiShares Russell 1000 Value ETF-797.0262,831.42-1.27
SOXSDirexion Daily Semiconductor Bear 3x Shares-529.63604.28-87.65
USHYiShares Broad USD High Yield Corporate Bond ETF-497.3418,685.30-2.66
QUALiShares MSCI USA Quality Factor ETF-496.0551,790.28-0.96
XLVHealth Care Select Sector SPDR Fund-415.2639,336.06-1.06



 

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
Alternatives-50.339,383.54-0.54%
Asset Allocation-38.5722,289.49-0.17%
Commodities ETFs368.21168,670.970.22%
Currency443.18140,213.200.32%
International Equity1,561.371,602,984.180.10%
International Fixed Income3,238.43266,845.191.21%
Inverse-721.2411,498.47-6.27%
Leveraged3,756.48131,017.672.87%
U.S. Equity14,297.736,884,412.950.21%
U.S. Fixed Income5,843.751,573,349.350.37%
Total:28,699.0210,810,665.000.27%



 

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.

Sumit Roy is the senior ETF analyst for etf.com, where he has worked for 13 years. He creates a variety of content for the platform, including news articles, analysis pieces, videos and podcasts.

Before joining etf.com, Sumit was the managing editor and commodities analyst for Hard Assets Investor. In those roles, he was responsible for most of the operations of HAI, a website dedicated to education about commodities investing.

Though he still closely follows the commodities beat, Sumit covers a much broader assortment of topics for etf.com, with a particular focus on stock and bond exchange-traded funds.

He is the host of etf.com’s Talk ETFs, a popular video series that features weekly interviews with thought leaders in the ETF industry. Sumit is also co-host of Exchange Traded Fridays, etf.com’s weekly podcast series.

He lives in the San Francisco Bay Area, where he enjoys climbing the city’s steep hills, playing chess and snowboarding in Lake Tahoe.

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