SPY Led Inflows Last Week as Leveraged Funds Surged
U.S. equity and leveraged funds attract billions while some broad market and sector ETFs see large outflows. Here are the Monthly ETF fund flows for July 29, 2024
The SPDR S&P 500 ETF Trust (SPY) led inflows last week, pulling in $5.3 billion, more than double its closest follower, on renewed optimism that the Fed will be able to engineer a soft landing.
The 1% jump in assets to the $552.3 billion SPY further cemented its position as the largest ETF by assets.
While SPY had the largest inflows, the Direxion Daily Semiconductor Bull 3X Shares (SOXL) had the biggest percentage increase in assets. SOXL attracted $1.6 billion, a 16% jump, bringing AUM to $9.9 billion.
The iShares Broad USD High Yield Corporate Bond ETF (USHY) also saw strong interest, pulling in $1.3 billion, a 7.8% increase in AUM and bringing total assets to $16 billion. On the outflows side, the Vanguard Total Stock Market ETF (VTI) experienced the largest redemptions at $1.6 billion. Still, VTI’s asset base of $409.7 billion dipped a mere 0.4%.
Investors jumped into the broad SPY optimistic that while bumps may lie ahead, central bankers are taming inflation without hurting the economy. Last week's second-quarter GDP report, showing the economy expanded 2.8%, was strong but not hot enough to take a September rate cut off the table, a situation seen by some as a "Goldilocks scenario."
Last week's best-performing ETFs were led by the ProShares VIX Short-Term Futures ETF (VIXY), which jumped 7.3%.
The Grayscale Ethereum Trust (ETHE) lost a net $1.2 billion, a 16% AUM decrease. The Invesco S&P 500 Equal Weight Technology ETF (RSPT) had largest percentage decrease in AUM at 19%, with outflows of $630.7 million.
Leveraged ETFs had inflows of $2.3 billion, pushing the category's assets 2.3% higher. It was the largest percentage gain among asset classes.
International equity ETFs experienced the largest net outflows of $1.4 billion, a 0.1% decrease in the category’s $1.5 trillion AUM.
U.S. equity ETFs attracted $12 billion in net inflows, a 0.2% increase in the category's $5.8 trillion AUM.
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change< |
| SPY | SPDR S&P 500 ETF Trust | 5,313.65 | 552,258.76 | 0.96 |
| VOO | Vanguard 500 Index Fund | 2,152.60 | 476,611.94 | 0.45 |
| SOXL | Direxion Daily Semiconductor Bull 3X Shares | 1,567.38 | 9,893.83 | 15.84 |
| IWM | iShares Russell 2000 ETF | 1,471.30 | 72,213.82 | 2.04 |
| USHY | iShares Broad USD High Yield Corporate Bond ETF | 1,252.79 | 16,023.48 | 7.82 |
| LQD | iShares iBoxx USD Investment Grade Corporate Bond ETF | 1,090.72 | 33,322.30 | 3.27 |
| IVV | iShares Core S&P 500 ETF | 952.68 | 488,934.15 | 0.19 |
| QQQ | Invesco QQQ Trust | 875.96 | 280,660.97 | 0.31 |
| IBIT | iShares Bitcoin Trust | 851.59 | 21,887.57 | 3.89 |
| SMH | VanEck Semiconductor ETF | 846.56 | 21,481.23 | 3.94 |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change |
| VTI | Vanguard Total Stock Market ETF | -1,592.38 | 409,697.55 | -0.39 |
| ETHE | Grayscale Ethereum Trust | -1,157.16 | 7,122.77 | -16.25 |
| TLT | iShares 20+ Year Treasury Bond ETF | -988.13 | 54,740.48 | -1.81 |
| IWF | iShares Russell 1000 Growth ETF | -727.23 | 92,708.66 | -0.78 |
| HYG | iShares iBoxx USD High Yield Corporate Bond ETF | -725.53 | 16,641.28 | -4.36 |
| SPYG | SPDR Portfolio S&P 500 Growth ETF | -711.16 | 27,273.01 | -2.61 |
| USFR | WisdomTree Floating Rate Treasury Fund | -643.62 | 17,399.80 | -3.70 |
| RSPT | Invesco S&P 500 Equal Weight Technology ETF | -630.66 | 3,414.96 | -18.47 |
| XLI | Industrial Select Sector SPDR Fund | -604.69 | 18,989.57 | -3.18 |
| DIA | SPDR Dow Jones Industrial Average ETF Trust | -598.45 | 33,684.41 | -1.78 |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| Alternatives | 23.11 | 8,277.92 | 0.28% |
| Asset Allocation | 32.73 | 18,731.84 | 0.17% |
| Commodities | 856.60 | 144,101.33 | 0.59% |
| Currency | 528.26 | 71,830.21 | 0.74% |
| International Equity | -1,443.37 | 1,501,578.53 | -0.10% |
| International Fixed Income | 1,483.08 | 205,230.04 | 0.72% |
| Inverse | -939.77 | 12,981.03 | -7.24% |
| Leveraged | 2,328.20 | 99,695.51 | 2.34% |
| U.S. Equity | 12,077.91 | 5,813,289.99 | 0.21% |
| U.S. Fixed Income | 7,140.08 | 1,463,127.69 | 0.49% |
| Total: | 22,086.83 | 9,338,844.09 | 0.24% |
Asset Classes (Year-to-Date)
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| Alternatives | 1,157.42 | 7,931.17 | 14.59% |
| Asset Allocation | 717.68 | 18,560.44 | 3.87% |
| Commodities | -4,833.02 | 141,439.74 | -3.42% |
| Currency | 14,775.18 | 56,986.28 | 25.93% |
| International Equity | 56,007.90 | 1,500,164.65 | 3.73% |
| International Fixed Income | 28,858.72 | 198,197.40 | 14.56% |
| Inverse | 627.17 | 12,862.03 | 4.88% |
| Leveraged | -3,924.24 | 105,108.83 | -3.73% |
| U.S. Equity | 223,244.75 | 5,749,744.24 | 3.88% |
| U.S. Fixed Income | 89,689.93 | 1,430,299.28 | 6.27% |
| Total: | 406,321.49 | 9,221,294.06 | 4.41% |
Top 10 Volume Surprises, Funds >$50 mm AUM
| Ticker | Name | Average Volume (30 Day) | 1 Week Average Volume | % of Average |
| TOK | iShares MSCI Kokusai ETF | 25,626 | 678,764.00 | 2,648.69%% |
| GINN | Goldman Sachs Innovate Equity ETF | 11,337 | 138,748.00 | 1,223.82%% |
| ONLN | ProShares Online Retail ETF | 22,298 | 264,984.00 | 1,188.38%% |
| DECZ | TrueShares Structured Outcome December ETF | 5,521 | 47,906.00 | 867.78%% |
| FYT | First Trust Small Cap Value AlphaDEX Fund | 18,121 | 132,700.00 | 732.30%% |
| XSOE | WisdomTree Emerging Markets ex-State-Owned Enterprises Fund | 629,819 | 4,538,608.00 | 720.62%% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 17,436 | 119,023.00 | 682.61%% |
| EDIV | SPDR S&P Emerging Markets Dividend ETF | 81,672 | 553,521.00 | 677.74%% |
| QDEC | FT Vest Nasdaq-100 Buffer ETF - December | 48,317 | 302,947.00 | 626.99%% |
| GMF | SPDR S&P Emerging Asia Pacific ETF | 8,104 | 49,047.00 | 605.22%% |
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| VXX | iPath Series B S&P 500 VIX Short Term Futures ETN | 329.16% | 71,070,791 | 443.01 |
| VXZ | iPath Series B S&P 500 VIX Mid-Term Futures ETN | 311.90% | 78,970 | 33.68 |
| VIXY | ProShares VIX Short-Term Futures ETF | 7.30% | 41,975,831 | 142.21 |
| UFO | Procure Space ETF | 6.28% | 38,495 | 32.20 |
| SETH | ProShares Short Ether Strategy ETF | 6.13% | 193,521 | 3.36 |
| PSIL | AdvisorShares Psychedelics ETF | 4.77% | 207,088 | 6.18 |
| KEUA | KraneShares European Carbon Allowance Strategy ETF | 4.56% | 13,048 | 11.39 |
| CNCR | Range Cancer Therapeutics ETF | 4.54% | 16,461 | 14.29 |
| SHRT | Gotham Short Strategies ETF | 4.52% | 177,364 | 10.14 |
| QABA | First Trust NASDAQ ABA Community Bank Index Fund | 4.45% | 114,836 | 71.88 |
Top 10 YTD Performers
| Ticker | Name | YTD Performance | Weekly Performance | AUM ($, mm) |
| NVDY | YieldMax NVDA Option Income Strategy ETF | 83.62% | -6.78% | 902.64 |
| GBTC | Grayscale Bitcoin Trust ETF | 65.68% | -0.36% | 17,503.20 |
| BITO | ProShares Bitcoin Strategy ETF | 45.77% | -0.42% | 1,995.56 |
| DEFI | Hashdex Bitcoin ETF | 45.73% | 11.82 | |
| ARKA | ARK 21Shares Active Bitcoin Futures Strategy ETF | 45.55% | -0.43% | 15.05 |
| BITC | Bitwise Bitcoin Strategy Optimum Roll ETF | 45.11% | 10.88 | |
| CRPT | First Trust SkyBridge Crypto Industry and Digital Economy ETF | 44.57% | -8.72% | 61.94 |
| ARKC | ARK 21Shares Active On-Chain Bitcoin Strategy ETF | 43.72% | -0.46% | 2.35 |
| MAXI | Simplify Bitcoin Strategy PLUS Income ETF | 43.38% | -5.10% | 22.18 |
| BETH | ProShares Bitcoin & Ether Market Cap Weight Strategy ETF | 41.47% | -1.82% | 7.66 |
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.
