S&P 500 Funds Dominate Week’s Inflows
‘SPY,’ ‘IVV’ and ‘VOO’ were in three of the top spots.
Over the last week, U.S. equities saw the most inflows of any asset class, pulling in some $17 billion, followed by U.S. fixed income, which saw a gain of $3.5 billion. The only category to see outflows during the week ended Thursday, April 27, was inverse ETFs, with outflows of $303.6 million. In all, U.S.-listed ETFs saw nearly $24 billion in inflows.
Although the iShares Russell 2000 ETF (IWM) was the top fund for inflows, with a gain of $4.1 billion, it was the S&P 500 complex of ETFs that had the most notable week.
The SPDR S&P 500 ETF Trust (SPY), iShares Core S&P 500 ETF (IVV) and the Vanguard S&P 500 Index Fund (VOO) laid claim to the second, third and fourth spots among the top 10, respectively, with inflows ranging from just short of $1 billion to $4 billion each. All together, the three funds pulled in roughly $8.6 billion.
A fourth large-cap fund claimed the No. 5 spot: The PowerShares QQQ Trust (QQQ), which tracks the Nasdaq-100 Index, saw inflows of $603.8 million. It was definitely a week for large-cap funds, and the Financial Select Sector SPDR Fund (XLF), yet another ETF with a focus on big companies, claimed the 10th spot, with inflows of $478.2 million.
The remainder of those top 10 funds included two covering the eurozone and emerging markets, and two covering the U.S. fixed-income market. Each one pulled in between $480 million and $555 million.
Gold Miners See Significant Outflows
The VanEck Vectors Gold Miners ETF (GDX) saw more than twice the outflows of the fund that was in second place, losing roughly $702 million, or 6.31% of its assets under management, along with a sharp drop in share price. It wasn’t alone though, with its counterpart the VanEck Vectors Junior Gold Miners ETF (GDXJ) laying claim to the No. 3 spot, with outflows of $285.9 million, or 6.34% of its AUM.
The SPDR S&P Midcap 400 ETF Trust (MDY) was in second place, with a loss of $305.6 million.
Other notable funds that saw large outflows were the Direxion Daily Small Cap Bull 3x Shares (TNA) and the ProShares Short VIX Short-Term Futures ETF (SVXY), which lost $242.7 million and $225.9 million, respectively, or nearly 30% of their AUM. They were the smallest funds in the leading outflows group.
Other funds that lost far less and had far more in assets included two Select Sector SPDRs, the Vanguard REIT Index Fund (VNQ) and the SPDR Dow Jones Industrial Average ETF Trust (DIA).
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| IWM | iShares Russell 2000 ETF | 4,111.99 | 41,029.55 | 11.14% |
| SPY | SPDR S&P 500 ETF Trust | 4,005.19 | 237,796.61 | 1.71% |
| IVV | iShares Core S&P 500 ETF | 3,630.90 | 109,376.79 | 3.43% |
| VOO | Vanguard S&P 500 Index Fund | 999.52 | 65,932.93 | 1.54% |
| QQQ | PowerShares QQQ Trust | 603.82 | 48,423.94 | 1.26% |
| IEMG | iShares Core MSCI Emerging Markets ETF | 554.53 | 28,640.27 | 1.97% |
| EZU | iShares MSCI Eurozone ETF | 493.20 | 10,306.87 | 5.03% |
| TLT | iShares 20+ Year Treasury Bond ETF | 490.88 | 6,644.29 | 7.98% |
| HYG | iShares iBoxx $ High Yield Corporate Bond ETF | 482.27 | 19,367.75 | 2.55% |
| XLF | Financial Select Sector SPDR Fund | 478.16 | 23,394.33 | 2.09% |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| GDX | VanEck Vectors Gold Miners ETF | -701.94 | 10,419.05 | -6.31% |
| MDY | SPDR S&P Midcap 400 ETF Trust | -305.59 | 19,488.44 | -1.54% |
| GDXJ | VanEck Vectors Junior Gold Miners ETF | -285.90 | 4,223.05 | -6.34% |
| TNA | Direxion Daily Small Cap Bull 3x Shares | -242.73 | 607.23 | -28.56% |
| SVXY | ProShares Short VIX Short-Term Futures ETF | -225.90 | 527.38 | -29.99% |
| XLK | Technology Select Sector SPDR Fund | -205.81 | 17,112.57 | -1.19% |
| VNQ | Vanguard REIT Index Fund | -160.02 | 34,339.81 | -0.46% |
| HEWJ | iShares Currency Hedged MSCI Japan ETF | -145.34 | 1,107.40 | -11.60% |
| XLP | Consumer Staples Select Sector SPDR Fund | -136.23 | 8,982.81 | -1.49% |
| DIA | SPDR Dow Jones Industrial Average ETF Trust | -134.39 | 16,252.74 | -0.82% |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | 17,028.29 | 1,639,188.79 | 1.03% |
| International Equity | 2,649.67 | 613,253.62 | 0.10% |
| U.S. Fixed Income | 3,487.23 | 455,428.93 | 0.75% |
| International Fixed Income | 420.21 | 45,819.39 | 0.91% |
| Commodities | 219.94 | 64,6729.89 | 0.34% |
| Currency | 28.03 | 2,851.86 | 0.34% |
| Leveraged | 231.34 | 26,832.20 | 0.81% |
| Inverse | -303.61 | 17,257.78 | -0.13% |
| Asset Allocation | 45.86 | 6,896.83 | 0.17% |
| Alternatives | 161.19 | 3,778.16 | 2.33% |
| Total: | 23,974.24 | 2,875,699.16 | 0.83% |
Top 10 Volume Surprises, Funds >$50 mm AUM
| Ticker | Name | Average Volume (30 Day) | 1 Week Average Volume | % of Average |
| PSCU | PowerShares S&P SmallCap Utilities Portfolio | 15,825 | 77,882 | 492.16% |
| HAP | VanEck Vectors Natural Resources ETF | 16,498 | 64,465 | 390.75% |
| GEM | Goldman Sachs ActiveBeta Emerging Markets Equity ETF | 138,915 | 465,101 | 334.81% |
| IUSG | iShares Core S&P U.S. Growth ETF | 552,322 | 1,586,968 | 287.33% |
| FAN | First Trust Global Wind Energy ETF | 36,322 | 104,793 | 288.51% |
| SGDJ | Sprott Junior Gold Miners ETF | 69,163 | 419,756 | 606.91% |
| VQT | Barclays ETN+ S&P VEQTOR ETN | 1,127 | 2,286 | 202.90% |
| FFR | First Trust FTSE EPRA/NAREIT Developed Markets Real Estate | 6,654 | 12,257 | 184.20% |
| RING | iShares MSCI Global Gold Miners ETF | 254,529 | 1,077,214 | 423.22% |
| USCI | United States Commodity Index Fund | 83,930 | 148,082 | 176.43% |
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| VMAX | REX VolMAXX Long VIX Weekly Futures Strategy ETF | 15.95% | 64,727 | 1.74 |
| VIXY | ProShares VIX Short-Term Futures ETF | 13.39% | 9,629,454 | 131.62 |
| VXX | iPath S&P 500 VIX Short-Term Futures ETN | 13.27% | 212,320,811 | 1,035.80 |
| GRN | iPath Global Carbon ETN | 7.21% | 5,054 | 0.77 |
| AGF | DB Agriculture Long ETN | 7.11% | 3,627 | 1.46 |
| GDXJ | VanEck Vectors Junior Gold Miners ETF | 7.01% | 93,150,558 | 4,223.05 |
| RING | iShares MSCI Global Gold Miners ETF | 6.60% | 4,308,857 | 177.94 |
| SGDJ | Sprott Junior Gold Miners ETF | 6.45% | 1,679,023 | 86.93 |
| SGDM | Sprott Gold Miners ETF | 6.14% | 511,299 | 180.37 |
| GOEX | Global X Gold Explorers ETF | 6.04% | 126,012 | 41.22 |
Bottom 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| XIVH | VelocityShares VIX Short Volatility Hedged ETN | -8.63% | 12,268 | 51.19 |
| JPEH | JPMorgan Diversified Return Europe Currency Hedged | -7.88% | 1,064 | 28.38 |
| EUFN | iShares MSCI Europe Financials ETF | -6.14% | 12,380,249 | 985.15 |
| EWI | iShares MSCI Italy Capped ETF | -6.00% | 4,489,577 | 585.53 |
| GREK | Global X MSCI Greece ETF | -5.98% | 1,862,195 | 292.67 |
| EWD | iShares MSCI Sweden Capped ETF | -5.78% | 2,193,148 | 340.76 |
| EPOL | iShares MSCI Poland Capped ETF | -5.78% | 1,225,967 | 286.83 |
| SMEZ | SPDR EURO STOXX Small Cap ETF | -5.64% | 3,358 | 13.66 |
| EWQ | iShares MSCI France ETF | -5.61% | 8,921,795 | 380.90 |
| PLND | VanEck Vectors Poland ETF | -5.61% | 38,551 | 17.28 |
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.
