‘SKYY’ Leads Weekly Inflows To $29B
Investors plowed into U.S. equity ETFs as the S&P 500 hit a record high this week.
Record highs in the U.S. stock market were met by strong inflows for U.S.-listed ETFs. Investors added an impressive $28.7 billion to ETFs during the week ending Thursday, June 20, as the S&P 500 closed at its highest level ever.
Unsurprisingly, most of that money—$22.4 billion—went into U.S. equity ETFs. But international equity ETFs and U.S. fixed income ETFs also had solid inflows.
The week’s strong showing helped push overall year-to-date inflows for 2019 up to $122.1 billion, a bit below last year’s $142.5 billion pace.
‘SKYY’ Flies Onto Top Inflows List
A dovish conclusion to the Federal Reserve meeting on Wednesday and confirmation that President Trump will meet with China’s President Xi Jinping at the G-20 next week bolstered investor confidence in equities.
Low-cost Vanguard funds like the Vanguard Mid-Cap ETF (VO), the Vanguard Growth ETF (VUG) and the Vanguard S&P 500 ETF (VOO) were among the biggest flows winners of the week.
However, perhaps the biggest standout was the First Trust Cloud Computing ETF (SKYY), which picked up $1.1 billion in fresh assets, bringing its AUM to more than $3.3 billion. SKYY holds companies focused on the red-hot cloud computing/SaaS industry.
‘LQD’ Offsets Outflows From Other Bond ETFs
Meanwhile, fixed income ETFs remained popular with investors despite the surge in stocks. Bonds rallied to new multiyear highs and interest rates plunged, with the 10-year Treasury briefly falling below 2% amid growing expectations the Fed will cut rates in July.
The iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD), with $1.4 billion in weekly inflows, was the most popular fixed income ETF of the week. It helped offset hefty outflows from other bond funds like the SPDR Bloomberg Barclays 1-3 Month T-Bill ETF (BIL) and the iShares 1-3 Year Treasury Bond ETF (SHY).
For a full list of this week’s top inflows and outflows, see the tables below:
Top 10 Creations (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
VO | Vanguard Mid-Cap ETF | 1,799.36 | 27,821.58 | 6.47% |
IVV | iShares Core S&P 500 ETF | 1,756.44 | 181,931.26 | 0.97% |
VUG | Vanguard Growth ETF | 1,439.27 | 41,883.42 | 3.44% |
LQD | iShares iBoxx USD Investment Grade Corporate Bond ETF | 1,354.72 | 35,156.73 | 3.85% |
IWM | iShares Russell 2000 ETF | 1,342.77 | 43,191.30 | 3.11% |
SKYY | First Trust Cloud Computing ETF | 1,082.03 | 3,304.70 | 32.74% |
IEFA | iShares Core MSCI EAFE ETF | 1,026.53 | 64,851.31 | 1.58% |
HDV | iShares Core High Dividend ETF | 980.05 | 8,208.84 | 11.94% |
VOO | Vanguard S&P 500 ETF | 918.52 | 114,919.13 | 0.80% |
VTI | Vanguard Total Stock Market ETF | 795.86 | 115,649.44 | 0.69% |
Top 10 Redemptions (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
EFA | iShares MSCI EAFE ETF | -816.69 | 60,899.25 | -1.34% |
BIL | SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | -507.99 | 9,437.73 | -5.38% |
XLV | Health Care Select Sector SPDR Fund | -467.82 | 18,420.20 | -2.54% |
VWO | Vanguard FTSE Emerging Markets ETF | -442.36 | 62,821.71 | -0.70% |
SHY | iShares 1-3 Year Treasury Bond ETF | -414.84 | 17,729.18 | -2.34% |
GOVT | iShares U.S. Treasury Bond ETF | -384.18 | 10,747.13 | -3.57% |
IEF | iShares 7-10 Year Treasury Bond ETF | -350.32 | 16,035.63 | -2.18% |
XLK | Technology Select Sector SPDR Fund | -316.37 | 21,176.81 | -1.49% |
EEM | iShares MSCI Emerging Markets ETF | -242.37 | 31,660.47 | -0.77% |
GDXJ | VanEck Vectors Junior Gold Miners ETF | -180.44 | 3,822.13 | -4.72% |
ETF Weekly Flows By Asset Class
Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
U.S. Equity | 22,432.25 | 2,249,184.45 | 1.00% |
International Equity | 1,514.96 | 818,153.84 | 0.19% |
U.S. Fixed Income | 3,602.61 | 679,109.26 | 0.53% |
International Fixed Income | 776.78 | 76,353.11 | 1.02% |
Commodities | 390.92 | 64,141.73 | 0.61% |
Currency | -58.98 | 1,490.19 | -3.96% |
Leveraged | -310.71 | 37,809.82 | -0.82% |
Inverse | 226.13 | 11,670.17 | 1.94% |
Asset Allocation | 29.79 | 9,557.53 | 0.31% |
Alternatives | 126.23 | 4,646.38 | 2.72% |
Total: | 28,729.98 | 3,952,116.47 | 0.73% |
Asset Classes (Year-to-Date)
Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
U.S. Equity | 46,362.03 | 2,249,184.45 | 2.06% |
International Equity | 7,817.34 | 818,153.84 | 0.96% |
U.S. Fixed Income | 61,302.34 | 679,109.26 | 9.03% |
International Fixed Income | 7,379.14 | 76,353.11 | 9.66% |
Commodities | -1,462.21 | 64,141.73 | -2.28% |
Currency | -295.72 | 1,490.19 | -19.84% |
Leveraged | -2,276.49 | 37,809.82 | -6.02% |
Inverse | 2,885.07 | 11,670.17 | 24.72% |
Asset Allocation | -343.12 | 9,557.53 | -3.59% |
Alternatives | 738.80 | 4,646.38 | 15.90% |
Total: | 122,107.18 | 3,952,116.47 | 3.09% |
Top 10 Volume Surprises, Funds >$50 mm AUM
Ticker | Name | Average Volume (30 Day) | 1 Week Average Volume | % of Average |
FLBL | Franklin Liberty Senior Loan ETF | 689 | 4,447 | 645.25% |
PGF | Invesco Financial Preferred ETF | 408,592 | 1,675,501 | 410.07% |
PXLV | Invesco Russell Top 200 Pure Value ETF | 12,269 | 43,183 | 351.98% |
MLPX | Global X MLP & Energy Infrastructure ETF | 318,979 | 1,115,254 | 349.63% |
MIDU | Direxion Daily Mid Cap Bull 3x Shares | 61,095 | 137,160 | 224.50% |
ELD | WisdomTree Emerging Markets Local Debt Fund | 25,307 | 82,156 | 324.64% |
NULV | Nuveen ESG Large-Cap Value ETF | 25,403 | 56,011 | 220.49% |
ONEO | SPDR Russell 1000 Momentum Focus | 7,616 | 15,656 | 205.57% |
ULST | SPDR SSgA Ultra Short Term Bond ETF | 85,970 | 166,746 | 193.96% |
ICVT | iShares Convertible Bond ETF | 41,037 | 80,178 | 195.38% |
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.