Post-SpaceX IPO, Investors Pour $83B Into U.S. Equities
In the first full week of trading post-SpaceX IPO, and the first week for leveraged SpaceX ETFs, money into U.S. equity ETFs dominated the market, netting over $83 billion in flows.
The SpaceX IPO brought with it a fair amount of hype for thematic ETFs, already soaring this year on ongoing semiconductor demand. While basic, passive S&P 500 exposure via the iShares Core S&P 500 ETF (IVV) drew in the most aggregate flows last week, the $8.3 billion and $7.4 billion into the Technology Select Sector SPDR Fund (XLK) and the VanEck Semiconductor ETF (SMH) respectively underscore the ongoing popularity of all things tech for investors.
International equities also pulled in a respectable $21.6 billion, followed by U.S. fixed income and international fixed income. For now at least, U.S. equity enthusiasm simply dominates the market. Whether that continues this summer remains to be seen. Of particular note, SpaceX enters into passive indexes as early as this week.
On the redemptions side, $1.5 billion moved out of the Baron First Principles ETF (RONB), and the Tema Space Innovators ETF (NASA) experienced net outflows of nearly $690 million. The leveraged ETF category was the only one to experience net negative flows last week, and interest in currencies and commodities remained muted on ongoing geopolitical tensions and uncertainty.
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change< |
| IVV | iShares Core S&P 500 ETF | 30,403.32 | 828,929.04 | 3.67 |
| SPYM | SPDR Portfolio S&P 500 ETF | 12,867.80 | 150,094.58 | 8.57 |
| XLK | Technology Select Sector SPDR Fund | 8,327.34 | 129,723.67 | 6.42 |
| SMH | VanEck Semiconductor ETF | 7,444.25 | 79,958.29 | 9.31 |
| SCHD | Schwab US Dividend Equity ETF | 5,461.27 | 100,144.21 | 5.45 |
| VO | Vanguard Mid-Cap ETF | 5,197.49 | 109,252.10 | 4.76 |
| VB | Vanguard Small-Cap ETF | 3,390.38 | 81,769.11 | 4.15 |
| VTV | Vanguard Value ETF | 3,166.93 | 186,714.77 | 1.70 |
| VTI | Vanguard Total Stock Market ETF | 2,981.19 | 655,409.85 | 0.45 |
| COWZ | Pacer US Cash Cows 100 ETF | 2,964.55 | 20,598.46 | 14.39 |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change |
| SPY | SPDR S&P 500 ETF Trust | -29,624.05 | 752,670.05 | -3.94 |
| VOO | Vanguard S&P 500 ETF | -14,423.65 | 1,017,849.54 | -1.42 |
| ARKK | ARK Innovation ETF | -2,008.82 | 6,805.00 | -29.52 |
| KORU | Direxion MSCI Daily South Korea Bull 3X Shares | -1,858.68 | 2,154.57 | -86.27 |
| SOXL | Direxion Daily Semiconductor Bull 3x Shares | -1,653.74 | 28,005.15 | -5.91 |
| RONB | Baron First Principles ETF | -1,572.63 | 589.44 | -266.80 |
| BIL | SPDR Bloomberg 1-3 Month T-Bill ETF | -1,377.24 | 46,477.24 | -2.96 |
| IWM | iShares Russell 2000 ETF | -894.99 | 79,656.14 | -1.12 |
| ARKQ | ARK Autonomous Technology & Robotics ETF | -762.39 | 2,208.78 | -34.52 |
| NASA | Tema Space Innovators ETF | -688.73 | 2,357.02 | -29.22 |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| Alternatives | 2,725.94 | 141,223.08 | 1.93% |
| Asset Allocation | 238.17 | 41,885.56 | 0.57% |
| Commodities E T Fs | 825.66 | 336,550.38 | 0.25% |
| Currency | 3.41 | 99,767.78 | 0.00% |
| International Equity | 21,660.15 | 2,868,931.44 | 0.75% |
| International Fixed Income | 2,674.47 | 431,646.63 | 0.62% |
| Inverse | 432.06 | 14,200.37 | 3.04% |
| Leveraged | -507.68 | 200,441.51 | -0.25% |
| Us Equity | 83,624.23 | 9,451,830.94 | 0.88% |
| Us Fixed Income | 8,154.92 | 2,124,025.67 | 0.38% |
| Total: | 119,831.33 | 15,710,503.34 | 0.76% |
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.
