US Equities Spark Weekly ETF Outflows

U.S.-listed ETFs had net outflows of nearly $5 billion this week.

sumit
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Senior ETF Analyst
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Reviewed by: Sumit Roy
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Edited by: Sumit Roy

ETFs followed up on 2019’s largest weekly inflows with a modest reversal. In total, $4.8 billion flowed out of U.S.-listed ETFs, one week after they saw inflows of $37 billion. Year-to-date inflows slipped to $49.9 billion.

This week’s outflows were largely fueled by U.S. equity ETFs. About $6.5 billion came out of that segment, while a much more modest $875 million came out of international equity ETFs.

On the other hand, U.S. fixed-income ETFs took in a solid $2.4 billion, offsetting the $345 outflow from international fixed-income ETFs.

Volatile Markets

Markets were volatile this week. The S&P 500 reached the highest levels since early October on Thursday, before plunging on Friday. Concerns about economic growth and an inverted yield curve sparked the sell-off.

Bond prices surged and the yield on the 10-year Treasury bond dipped to as little as 2.42%, the lowest level in nearly 13 months. The yield on the 10-year briefly fell below that of the three-month Treasury. The so-called inverted yield curve, which often takes place before recessions, spooked investors.

The biggest flows winners during the week included the Invesco QQQ Trust (QQQ), the iShares Core S&P 500 ETF (IVV) and the iShares Russell 2000 ETF (IWM). Biggest losers included the iShares Select Dividend ETF (DVY), the Vanguard Value ETF (VTV) and the Vanguard Mid-Cap ETF (VO).

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

 

Top 10 Creations (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
QQQInvesco QQQ Trust3,456.9773,098.554.73%
IVViShares Core S&P 500 ETF2,148.14168,209.301.28%
IWMiShares Russell 2000 ETF2,010.4944,302.974.54%
VOOVanguard S&P 500 ETF1,796.33107,975.561.66%
SPYSPDR S&P 500 ETF Trust1,163.12264,323.240.44%
IEFAiShares Core MSCI EAFE ETF1,158.2660,093.461.93%
HYGiShares iBoxx USD High Yield Corporate Bond ETF428.0915,599.772.74%
XLCCommunication Services Select Sector SPDR Fund371.785,334.266.97%
IUSBiShares Core Total USD Bond Market ETF309.803,272.809.47%
JNKSPDR Bloomberg Barclays High Yield Bond ETF303.479,601.233.16%

 

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
DVYiShares Select Dividend ETF-2,537.7916,926.42-14.99%
VTVVanguard Value ETF-2,277.4246,479.79-4.90%
VOVanguard Mid-Cap ETF-1,908.7524,747.07-7.71%
VIGVanguard Dividend Appreciation ETF-1,839.7532,461.62-5.67%
EFAiShares MSCI EAFE ETF-1,642.8764,197.24-2.56%
SCHDSchwab U.S. Dividend Equity ETF-1,133.538,896.97-12.74%
VYMVanguard High Dividend Yield ETF-1,047.5622,922.41-4.57%
VUGVanguard Growth ETF-975.9638,058.21-2.56%
VBVanguard Small-Cap ETF-954.2224,240.69-3.94%
XLKTechnology Select Sector SPDR Fund-837.5119,081.35-4.39%

 

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity-6,466.112,144,841.31-0.30%
International Equity-875.32825,032.17-0.11%
U.S. Fixed Income2,392.82628,413.650.38%
International Fixed Income-344.7274,143.38-0.46%
Commodities 203.9865,059.740.31%
Currency-14.751,457.30-1.01%
Leveraged-178.8437,576.76-0.48%
Inverse253.2711,845.982.14%
Asset Allocation23.989,435.650.25%
Alternatives171.384,688.503.66%
Total:-4,834.303,802,494.44-0.13%

 

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity11,537.562,144,841.310.54%
International Equity6,327.37825,032.170.77%
U.S. Fixed Income24,773.88628,413.653.94%
International Fixed Income6,618.6974,143.388.93%
Commodities ETFs-61.6065,059.74-0.09%
Currency-327.761,457.30-22.49%
Leveraged-1,800.4637,576.76-4.79%
Inverse2,792.3211,845.9823.57%
Asset Allocation-580.659,435.65-6.15%
Alternatives618.944,688.5013.20%
Total:49,898.293,802,494.441.31%

 

Top 10 Volume Surprises, Funds >$50 mm AUM

TickerNameAverage Volume
(30 Day)
1 Week Average
Volume
% of Average
IAKiShares U.S. Insurance ETF10,57746,228437.06%
LTPZPIMCO 15+ Year US TIPS Index ETF46,368243,517525.18%
MLPXGlobal X MLP & Energy Infrastructure ETF555,6571,306,970235.21%
DFJWisdomTree Japan SmallCap Dividend Fund110,613247,669223.91%
DOOWisdomTree International Dividend ex-Financials Fund17,22835,634206.84%
VDCVanguard Consumer Staples ETF203,812368,947181.02%
PCYInvesco Emerging Markets Sovereign Debt ETF1,817,8053,315,566182.39%
WOODiShares Global Timber & Forestry ETF29,32063,109215.24%
YCSProShares UltraShort Yen4,5107,715171.07%
VAWVanguard Materials ETF144,469237,439164.35%

 

 

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.

Sumit Roy is the senior ETF analyst for etf.com, where he has worked for 13 years. He creates a variety of content for the platform, including news articles, analysis pieces, videos and podcasts.

Before joining etf.com, Sumit was the managing editor and commodities analyst for Hard Assets Investor. In those roles, he was responsible for most of the operations of HAI, a website dedicated to education about commodities investing.

Though he still closely follows the commodities beat, Sumit covers a much broader assortment of topics for etf.com, with a particular focus on stock and bond exchange-traded funds.

He is the host of etf.com’s Talk ETFs, a popular video series that features weekly interviews with thought leaders in the ETF industry. Sumit is also co-host of Exchange Traded Fridays, etf.com’s weekly podcast series.

He lives in the San Francisco Bay Area, where he enjoys climbing the city’s steep hills, playing chess and snowboarding in Lake Tahoe.