Turmoil Doesn't Deter ETF Inflows
U.S. equity ETFs took in fresh cash even as share prices tumbled.
Despite another week of intense stock market volatility, exchange-traded fund investors didn’t flinch. Altogether, they added $3.7 billion to U.S.-listed ETFs, the first net inflow in three weeks.
Of the total inflows, U.S. equity ETFs garnered the largest share—$3.5 billion—even as stocks got hammered this week. At one point, the S&P 500 had all its gains for the year wiped out, and briefly entered correction territory, down more than 10% from its all-time high notched in September.
The iShares Core S&P 500 ETF (IVV), the SPDR S&P 500 ETF Trust (SPY) and the Communication Services Select Sector SPDR Fund (XLC) were among the biggest flows winners of the week.
Int'l Equity Investors Unfazed
ETF investors also added $1.2 billion to international equity ETFs, unfazed by the precipitous decline in international markets. The JPMorgan BetaBuilders Canada ETF (BBCA) and the JPMorgan BetaBuilders Japan ETF (BBJP) led inflows for this group.
Meanwhile, the area to see the largest outflows this week was U.S. fixed income, with a net $1.6 billion coming out of ETFs tied to that asset class. The benchmark U.S. 10-year Treasury yield sagged from 3.2% to as low as 3.06%, pushing prices for Treasuries higher.
That benefited funds like the iShares 1-3 Year Treasury Bond ETF (SHY), which picked up assets from investors.
Conversely, prices for higher-risk bonds, like corporate junk bonds, declined in tandem with the rout in equities. The iShares iBoxx USD High Yield Corporate Bond ETF (HYG) and the SPDR Bloomberg Barclays High Yield Bond ETF (JNK) appeared on the top outflows list for the week.
For a full list of this week’s top inflows and outflows, see the tables below:
Contact Sumit Roy at [email protected]
Top 10 Creations (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
IVV | iShares Core S&P 500 ETF | 2,608.96 | 154,546.32 | 1.69% |
SPY | SPDR S&P 500 ETF Trust | 1,929.89 | 251,946.89 | 0.77% |
XLC | Communication Services Select Sector SPDR Fund | 960.12 | 3,643.75 | 26.35% |
SMH | VanEck Vectors Semiconductor ETF | 601.33 | 1,339.05 | 44.91% |
JPST | JPMorgan Ultra-Short Income ETF | 499.38 | 3,228.50 | 15.47% |
BBCA | JPMorgan BetaBuilders Canada ETF | 372.73 | 1,830.06 | 20.37% |
SHY | iShares 1-3 Year Treasury Bond ETF | 290.29 | 14,258.02 | 2.04% |
TQQQ | ProShares UltraPro QQQ | 225.00 | 3,721.61 | 6.05% |
VB | Vanguard Small-Cap ETF | 221.96 | 22,052.64 | 1.01% |
BBJP | JPMorgan BetaBuilders Japan ETF | 219.34 | 2,171.45 | 10.10% |
Top 10 Redemptions (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
HYG | iShares iBoxx USD High Yield Corporate Bond ETF | -739.43 | 14,111.30 | -5.24% |
QQQ | Invesco QQQ Trust | -692.60 | 64,725.48 | -1.07% |
XLY | Consumer Discretionary Select Sector SPDR Fund | -578.02 | 13,086.27 | -4.42% |
LQD | iShares iBoxx USD Investment Grade Corporate Bond ETF | -496.08 | 31,615.81 | -1.57% |
TLT | iShares 20+ Year Treasury Bond ETF | -433.16 | 7,798.86 | -5.55% |
XLF | Financial Select Sector SPDR Fund | -373.76 | 27,437.07 | -1.36% |
AGG | iShares Core U.S. Aggregate Bond ETF | -313.41 | 53,086.62 | -0.59% |
JNK | SPDR Bloomberg Barclays High Yield Bond ETF | -301.98 | 7,869.07 | -3.84% |
VXX | iPath S&P 500 VIX Short-Term Futures ETN | -301.63 | 941.39 | -32.04% |
FBT | First Trust NYSE Arca Biotechnology Index Fund | -299.51 | 2,662.34 | -11.25% |
ETF Weekly Flows By Asset Class
Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
U.S. Equity | 3,487.49 | 1,967,460.97 | 0.18% |
International Equity | 1,211.84 | 731,277.08 | 0.17% |
U.S. Fixed Income | -1,645.44 | 560,070.20 | -0.29% |
International Fixed Income | 107.39 | 65,381.53 | 0.16% |
Commodities | 167.56 | 61,559.19 | 0.27% |
Currency | 0.00 | 1,107.36 | 0.00% |
Leveraged | 935.75 | 33,423.92 | 2.80% |
Inverse | -266.37 | 13,701.16 | -1.94% |
Asset Allocation | -7.85 | 8,918.10 | -0.09% |
Alternatives | -288.97 | 4,707.10 | -6.14% |
Total: | 3,701.41 | 3,447,606.61 | 0.11% |
Asset Classes (Year-to-Date)
Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
U.S. Equity | 91,974.19 | 1,967,460.97 | 4.67% |
International Equity | 41,996.50 | 731,277.08 | 5.74% |
U.S. Fixed Income | 53,114.07 | 560,070.20 | 9.48% |
International Fixed Income | 10,132.89 | 65,381.53 | 15.50% |
Commodities | -460.53 | 61,559.19 | -0.75% |
Currency | -77.47 | 1,107.36 | -7.00% |
Leveraged | 5,955.76 | 33,423.92 | 17.82% |
Inverse | 1,997.62 | 13,701.16 | 14.58% |
Asset Allocation | 669.43 | 8,918.10 | 7.51% |
Alternatives | 185.49 | 4,707.10 | 3.94% |
Total: | 205,487.95 | 3,447,606.61 | 5.96% |
Top 10 Volume Surprises, Funds >$50 mm AUM
Ticker | Name | Average Volume (30 Day) | 1 Week Average Volume | % of Average |
VTC | Vanguard Total Corporate Bond ETF | 12,788 | 65,842 | 514.87% |
IQDG | WisdomTree International Quality Dividend Growth | 10,884 | 36,327 | 333.76% |
QQXT | First Trust NASDAQ-100 Ex-Technology Sector Index Fund | 12,375 | 39,679 | 320.65% |
GBF | iShares Government/Credit Bond ETF | 4,263 | 12,627 | 296.18% |
SPYX | SPDR S&P 500 Fossil Fuel Reserves Free ETF | 16,064 | 46,528 | 289.65% |
IQDY | FlexShares International Quality Dividend Dynamic Index Fund | 9,514 | 27,489 | 288.93% |
ESGG | FlexShares STOXX Global ESG Impact Index Fund | 1,607 | 4,331 | 269.43% |
ISMD | Inspire Small/Mid Cap Impact ETF | 17,167 | 46,113 | 268.61% |
XMX | WisdomTree Global ex-Mexico Equity Fund | 18,112 | 40,333 | 222.69% |
FBT | First Trust NYSE Arca Biotechnology Index Fund | 436,106 | 848,961 | 194.67% |
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.