US Bond Funds Continue to Haul in Cash

US Bond Funds Continue to Haul in Cash

Meanwhile, U.S. equity ETFs pulled in $662 million last week.

ShubhamSaharan_white_bg
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Reviewed by: Shubham Saharan
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Edited by: Shubham Saharan

U.S. fixed income exchange-traded funds remained a favorite as investors braced themselves for the onslaught of economic data in the weeks ahead that will indicate the Federal Reserve’s path forward.  

U.S. bond ETFs hauled in $9.7 billion in the truncated trading week ending April 6, according to etf.com data. That’s 33.8% greater than the $7.3 million the asset class pulled in the week prior.  

Funds with the greatest inflows included the iShares iBoxx USD High Yield Corporate Bond ETF (HYG) and the iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD), which collectively pulled in more than $2.1 billion last week. Year to date, both funds have shed billions despite their yields ticking up.  

On the other side of the ledger, U.S. equity funds picked up $623 million, rebounding from the nearly $1.2 billion of losses stock ETFs posted the week prior. Top-performing funds included the Xtrackers MSCI USA Climate Action Equity ETF (USCA) and the Invesco QQQ Trust (QQQ), which together collected $3.7 billion in the last week, etf.com data shows.  

The $11.2 billion in weekly inflows come as investors have kept a keen eye on the path of the Fed in the months ahead. On Friday, data released by the Bureau of Labor Statistics showed that U.S. employers added 236,000 jobs in March. That’s below economist expectations and may indicate that the labor market, which is a key factor in the Fed’s decisions, is finally responding to the central bank’s campaign to ease inflation.  

This upcoming Wednesday, the all-important consumer price index will be reported. MarketWatch-polled analysts are predicting that March inflation will come in at a 5.5% annual rate, easing from February’s reported 6%. Still, that’s a long way from the 2% the Fed has tried to get back to with nine straight interest rate hikes.  

Investors have responded to the murky expectations by flocking to fixed income ETFs for safety. U.S. bond funds lured in nearly $54 billion so far this year, according to etf.com data. Most of that went into Treasury bill ETFs, the data shows.  

 

For a full list of last week’s top inflows and outflows, see the tables below:          

 

Top 10 Creations (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
USCAXtrackers MSCI USA Climate Action Equity ETF2,039.152,035.40100.18%
QQQInvesco QQQ Trust1,622.96171,414.010.95%
HYGiShares iBoxx USD High Yield Corporate Bond ETF1,346.4313,795.609.76%
LQDiShares iBoxx USD Investment Grade Corporate Bond ETF778.7136,332.742.14%
XLEEnergy Select Sector SPDR Fund741.6740,366.661.84%
VOOVanguard S&P 500 ETF695.13284,909.600.24%
XLKTechnology Select Sector SPDR Fund580.1043,398.561.34%
TIPiShares TIPS Bond ETF485.7223,288.012.09%
EWJiShares MSCI Japan ETF448.999,933.004.52%
BNDVanguard Total Bond Market ETF407.7191,898.060.44%

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
AMJJPMorgan Alerian MLP Index ETN-2,407.68267.09-901.46%
IVViShares Core S&P 500 ETF-2,106.57304,250.98-0.69%
USSGXtrackers MSCI USA ESG Leaders Equity ETF-2,035.471,212.26-167.91%
SPYSPDR S&P 500 ETF Trust-1,698.55369,632.22-0.46%
SCHPSchwab U.S. TIPS ETF-1,306.8112,534.81-10.43%
XLFFinancial Select Sector SPDR Fund-687.2729,335.20-2.34%
BILSPDR Bloomberg 1-3 Month T-Bill ETF-585.8329,434.57-1.99%
EBNDSPDR Bloomberg Emerging Markets Local Bond ETF-530.171,695.81-31.26%
SPXLDirexion Daily S&P 500 Bull 3X Shares-519.842,446.97-21.24%
SMHVanEck Semiconductor ETF-441.697,321.29-6.03%

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity622.774,015,618.220.02%
International Equity-1,276.971,246,119.20-0.10%
U.S. Fixed Income9,733.511,240,357.040.78%
International Fixed Income576.23147,154.700.39%
Commodities222.88140,921.660.16%
Currency-4.133,558.88-0.12%
Leveraged-534.0955,930.39-0.95%
Inverse1,808.3023,125.017.82%
Asset Allocation8.4216,066.500.05%
Alternatives86.097,318.621.18%
Total:11,243.026,896,170.200.16%

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity-2,274.994,015,618.22-0.06%
International Equity27,540.401,246,119.202.21%
U.S. Fixed Income53,496.411,240,357.044.31%
International Fixed Income5,971.97147,154.704.06%
Commodities-72.42140,921.66-0.05%
Currency-521.383,558.88-14.65%
Leveraged1,420.9755,930.392.54%
Inverse4,667.3623,125.0120.18%
Asset Allocation-2,036.8616,066.50-12.68%
Alternatives-74.977,318.62-1.02%
Total:88,116.496,896,170.201.28%

Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded

TickerNameWeekly PerformanceWeekly VolumeAUM ($, mm)
GDMNWisdomTree Efficient Gold Plus Gold Miners Strategy Fund7.50%23,3758.67
BNOUnited States Brent Oil Fund LP6.40%2,394,936226.74
GDXVanEck Gold Miners ETF6.15%108,224,93514,676.13
RINGiShares MSCI Global Gold Miners ETF6.12%608,293466.66
JOiPath Series B Bloomberg Coffee Subindex Total Return ETN6.03%81,75847.32
GOAUU.S. Global GO Gold and Precious Metal Miners ETF5.95%167,940100.65
GRNiPath Series B Carbon ETN5.87%28,18854.31
SGDMSprott Gold Miners ETF5.81%267,467290.24
USOUnited States Oil Fund LP5.72%15,784,0221,642.42
KEUAKraneShares European Carbon Allowance Strategy ETF5.59%136,50433.14

Top 10 YTD Performers

TickerNameYTD PerformanceWeekly PerformanceAUM ($, mm)
BITOProShares Bitcoin Strategy ETF64.13%-3.88%944.54
VERSProshares Metaverse ETF20.45%-3.27%5.65
TINYProShares Nanotechnology ETF20.37%-2.98%2.52
NVMZTrueShares Structured Outcome ETF - November14.66% 2.52
MAKXProShares S&P Kensho Smart Factories ETF13.74%-6.66%0.84
TINTProShares Smart Materials ETF13.63%-2.80%1.61
ONDProShares On-Demand ETF12.51%-2.20%0.54
DATProShares Big Data Refiners ETF12.04%-3.65%2.36
EUDVProShares MSCI Europe Dividend Growers ETF11.33%-0.09%8.73
ONLNProShares Online Retail ETF11.18%-3.98%101.23

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.

Shubham Saharan is a markets reporter at etf.com. Before joining the company, she reported for Bloomberg and the Financial Times. Saharan is a graduate of Barnard College of Columbia University.