Robust Weekly ETF Inflows Of $23B
Stocks neared record highs and investors added $23 billion to U.S.-listed ETFs this week.
A thaw in the U.S.-China trade war was all it took for investors to rush head first into stocks, adding billions to ETF assets and pushing the S&P 500 toward a record high.
On net, investors added $22.8 billion to U.S.-listed ETFs. The vast majority of that—$20.1 billion—went into U.S. equity ETFs, including $7.3 billion into the SPDR S&P 500 ETF Trust (SPY) and $3.9 billion into the iShares Russell 2000 ETF (IWM).
Meanwhile, though bond prices sold off this week, U.S. fixed income ETFs continued to gather assets as they have all year long. A net $4.6 billion flowed into that segment, led by a $738 million inflow for the SPDR Bloomberg Barclays High Yield Bond ETF (JNK) and a $557 million inflow for the iShares Intermediate-Term Corporate Bond ETF (IGIB).
Year-to-date net inflows for all U.S.-listed ETFs now stand at $173.5 billion, a tad less than the $180.6 billion at this same time last year.
More Constructive Tone
Positive dialogue between the U.S. and China on the trade front helped push the S&P 500 above 3,020 on Thursday, nearing its all-time high of 3,028 from July. At the same time, bonds sold off, yields spiked and the Treasury curve steepened on the trade news and a generally more positive tone surrounding economic growth.
Recent economic data has been solid, and central bank stimulus may support the economy through any trade head winds. The European Central Bank cut interest rates further into negative territory and resumed quantitative easing on Thursday. The Federal Reserve is expected to cut interest rates when it meets next Wednesday.
The U.S. 10-year Treasury yield rallied to as high as 1.9% as of this writing, solidly above the two-year yield of 1.79%.
Gold prices plunged below $1,500 this week, down from a recent high of $1,557 as safe-haven demand ebbed. The SPDR Gold Trust (GLD) had outflows of $458 million in the past five trading sessions.
For a full list of this week’s top inflows and outflows, see the tables below:
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| SPY | SPDR S&P 500 ETF Trust | 7,304.45 | 275,363.30 | 2.65% |
| IWM | iShares Russell 2000 ETF | 3,855.59 | 45,679.08 | 8.44% |
| XLV | Health Care Select Sector SPDR Fund | 893.11 | 17,651.94 | 5.06% |
| QQQ | Invesco QQQ Trust | 871.44 | 75,861.66 | 1.15% |
| VTI | Vanguard Total Stock Market ETF | 762.27 | 122,410.11 | 0.62% |
| IYR | iShares U.S. Real Estate ETF | 743.82 | 5,209.48 | 14.28% |
| JNK | SPDR Bloomberg Barclays High Yield Bond ETF | 738.37 | 9,859.03 | 7.49% |
| XLF | Financial Select Sector SPDR Fund | 717.50 | 22,625.99 | 3.17% |
| IGIB | iShares Intermediate-Term Corporate Bond ETF | 557.25 | 7,704.03 | 7.23% |
| VOO | Vanguard S&P 500 ETF | 550.67 | 122,729.17 | 0.45% |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| EMB | iShares JP Morgan USD Emerging Markets Bond ETF | -536.24 | 15,075.61 | -3.56% |
| OMFL | Invesco Russell 1000 Dynamic Multifactor ETF | -478.82 | 1,120.63 | -42.73% |
| FIHD | UBS AG FI Enhanced Global High Yield ETN | -463.42 | 1,667.64 | -27.79% |
| GLD | SPDR Gold Trust | -457.51 | 42,187.41 | -1.08% |
| FIYY | Barclays ETN+ FI Enhanced Global High Yield ETN Series B | -434.33 | 1,144.20 | -37.96% |
| SHV | iShares Short Treasury Bond ETF | -430.89 | 23,634.90 | -1.82% |
| FLGE | Credit Suisse FI Large Cap Growth Enhanced ETN | -377.11 | 1,718.77 | -21.94% |
| EWJ | iShares MSCI Japan ETF | -322.10 | 12,054.91 | -2.67% |
| XLY | Consumer Discretionary Select Sector SPDR Fund | -287.38 | 14,351.29 | -2.00% |
| FBGX | UBS AG FI Enhanced Large Cap Growth ETN | -282.53 | 1,309.25 | -21.58% |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | 20,130.36 | 2,324,194.59 | 0.87% |
| International Equity | 111.40 | 807,668.32 | 0.01% |
| U.S. Fixed Income | 4,591.23 | 718,169.78 | 0.64% |
| International Fixed Income | -276.69 | 81,258.95 | -0.34% |
| Commodities | -396.44 | 78,523.11 | -0.50% |
| Currency | 20.38 | 1,520.79 | 1.34% |
| Leveraged | -1,584.70 | 35,665.46 | -4.44% |
| Inverse | -128.77 | 12,312.84 | -1.05% |
| Asset Allocation | 136.03 | 10,162.01 | 1.34% |
| Alternatives | 193.48 | 4,576.90 | 4.23% |
| Total: | 22,796.29 | 4,074,052.75 | 0.56% |
Asset Classes (Year-to-Date)
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | 68,170.24 | 2,324,194.59 | 2.93% |
| International Equity | -3,132.97 | 807,668.32 | -0.39% |
| U.S. Fixed Income | 93,358.56 | 718,169.78 | 13.00% |
| International Fixed Income | 11,201.65 | 81,258.95 | 13.79% |
| Commodities | 6,120.83 | 78,523.11 | 7.79% |
| Currency | -267.02 | 1,520.79 | -17.56% |
| Leveraged | -7,553.63 | 35,665.46 | -21.18% |
| Inverse | 4,687.57 | 12,312.84 | 38.07% |
| Asset Allocation | 219.46 | 10,162.01 | 2.16% |
| Alternatives | 667.82 | 4,576.90 | 14.59% |
| Total: | 173,472.51 | 4,074,052.75 | 4.26% |
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| INR | Market Vectors-Indian Rupee/USD ETN | 20.65% | 29,990 | 1.02 |
| ULBR | VelocityShares Long LIBOR ETN | 9.77% | 1,648 | 6.56 |
| XES | SPDR S&P Oil & Gas Equipment & Services ETF | 8.04% | 6,631,642 | 148.39 |
| PSCE | Invesco S&P SmallCap Energy ETF | 7.89% | 73,435 | 21.80 |
| OIH | VanEck Vectors Oil Services ETF | 7.71% | 36,978,498 | 631.06 |
| IEZ | iShares U.S. Oil Equipment & Services ETF | 7.24% | 107,354 | 94.39 |
| RZV | Invesco S&P SmallCap 600 Pure Value ETF | 7.23% | 32,349 | 186.64 |
| PSCM | Invesco S&P SmallCap Materials ETF | 6.94% | 1,630 | 16.24 |
| RWJ | Invesco S&P SmallCap 600 Revenue ETF | 6.90% | 49,893 | 390.75 |
| OMFS | Invesco Russell 2000 Dynamic Multifactor ETF | 6.69% | 5,398 | 14.06 |
Top 10 YTD Performers
| Ticker | Name | YTD Performance | Weekly Performance | AUM ($, mm) |
| INR | Market Vectors-Indian Rupee/USD ETN | 94.26% | 20.65% | 1.02 |
| JJN | iPath Series B Bloomberg Nickel Subindex Total Return ETN | 68.10% | 0.52% | 9.20 |
| TAN | Invesco Solar ETF | 60.75% | -2.29% | 438.04 |
| GOAU | U.S. Global GO Gold and Precious Metal Miners ETF | 47.41% | 0.00% | 33.56 |
| XSD | SPDR S&P Semiconductor ETF | 45.26% | 0.37% | 342.56 |
| PBW | Invesco WilderHill Clean Energy ETF | 43.17% | 1.08% | 184.96 |
| ITB | iShares U.S. Home Construction ETF | 40.50% | 0.63% | 1,101.08 |
| SOXX | iShares PHLX Semiconductor ETF | 40.32% | 0.81% | 1,772.05 |
| SMH | VanEck Vectors Semiconductor ETF | 39.53% | 0.59% | 1,439.94 |
| CNRG | SPDR S&P Kensho Clean Power ETF | 39.49% | -0.57% | 8.15 |
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.
