Value Stock, Bond ETFs Flows Jumped After Fed Rate Hike
Vanguard's VTV took in $2.73 billion last week, while SPY had outflows of $1.48 billion.
Investors are hunting for bargains even after the rally that kicked off 2023 has erased part of last year’s double-digit decline in the S&P 500.
The Vanguard Value ETF (VTV), which is up only about 1% so far this year, led all funds’ inflows last week when it took in $2.73 billion, according to ETF.com data. The No. 2 spot went to the BNY Mellon US Large Cap Core Equity ETF (BKLC); that fund’s assets under management surged 69% as it took in $1.23 billion.
Even after last week’s gain in the S&P 500, the world’s biggest ETF, the SPDR S&P 500 ETF Trust (SPY) had the biggest outflows, at $1.48 billion. Despite another Federal Reserve interest rate hike on Wednesday, a corporate bond fund, the Shares iBoxx USD Investment Grade Corporate Bond ETF (LQD), had the second biggest outflows, at $1.47 billion.
Among asset classes, U.S. equities held the top spot, bringing in $8.24 billion. The top performer was the $1.54 million VanEck Digital Mining ETF (DAM), which gained 20%.
For a full list of last week’s top inflows and outflows, see the tables below:
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| VTV | Vanguard Value ETF | 2,733.74 | 105,968.68 | 2.58% |
| BKLC | BNY Mellon US Large Cap Core Equity ETF | 1,228.50 | 1,787.94 | 68.71% |
| XLF | Financial Select Sector SPDR Fund | 1,200.48 | 34,692.90 | 3.46% |
| QQQ | Invesco QQQ Trust | 1,150.99 | 165,856.31 | 0.69% |
| SQQQ | ProShares UltraPro Short QQQ | 1,049.02 | 4,961.58 | 21.14% |
| HYG | iShares iBoxx USD High Yield Corporate Bond ETF | 859.62 | 19,588.49 | 4.39% |
| IEMG | iShares Core MSCI Emerging Markets ETF | 735.28 | 72,867.95 | 1.01% |
| JEPI | JPMorgan Equity Premium Income ETF | 636.41 | 20,122.56 | 3.16% |
| IWM | iShares Russell 2000 ETF | 600.67 | 57,994.07 | 1.04% |
| BBEU | JPMorgan BetaBuilders Europe ETF | 589.06 | 7,378.84 | 7.98% |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| SPY | SPDR S&P 500 ETF Trust | -1,484.58 | 389,408.23 | -0.38% |
| LQD | iShares iBoxx USD Investment Grade Corporate Bond ETF | -1,468.33 | 39,634.74 | -3.70% |
| IEF | iShares 7-10 Year Treasury Bond ETF | -1,256.06 | 23,582.02 | -5.33% |
| IWF | iShares Russell 1000 Growth ETF | -886.23 | 62,674.73 | -1.41% |
| XLE | Energy Select Sector SPDR Fund | -722.32 | 40,231.04 | -1.80% |
| EEMV | iShares MSCI Emerging Markets Min Vol Factor ETF | -710.72 | 6,062.02 | -11.72% |
| BIL | SPDR Bloomberg 1-3 Month T-Bill ETF | -622.45 | 24,565.57 | -2.53% |
| IWD | iShares Russell 1000 Value ETF | -539.82 | 54,248.64 | -1.00% |
| TQQQ | ProShares UltraPro QQQ | -533.75 | 14,068.35 | -3.79% |
| EFA | iShares MSCI EAFE ETF | -516.45 | 49,093.90 | -1.05% |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | 8,244.27 | 4,199,394.35 | 0.20% |
| International Equity | 4,325.56 | 1,281,242.62 | 0.34% |
| U.S. Fixed Income | -1,552.85 | 1,210,020.77 | -0.13% |
| International Fixed Income | 1,063.23 | 149,913.68 | 0.71% |
| Commodities | 322.27 | 136,663.90 | 0.24% |
| Currency | -56.84 | 3,848.91 | -1.48% |
| Leveraged | -444.42 | 57,726.14 | -0.77% |
| Inverse | 1,756.24 | 23,444.58 | 7.49% |
| Asset Allocation | -44.48 | 16,608.35 | -0.27% |
| Alternatives | -45.13 | 8,756.70 | -0.52% |
| Total: | 13,567.83 | 7,087,619.98 | 0.19% |
Asset Classes (Year-to-Date)
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | 2,851.29 | 4,199,394.35 | 0.07% |
| International Equity | 23,136.69 | 1,281,242.62 | 1.81% |
| U.S. Fixed Income | 19,716.56 | 1,210,020.77 | 1.63% |
| International Fixed Income | 6,099.81 | 149,913.68 | 4.07% |
| Commodities | 957.35 | 136,663.90 | 0.70% |
| Currency | -108.33 | 3,848.91 | -2.81% |
| Leveraged | -1,309.88 | 57,726.14 | -2.27% |
| Inverse | 5,783.40 | 23,444.58 | 24.67% |
| Asset Allocation | -1,346.33 | 16,608.35 | -8.11% |
| Alternatives | 60.05 | 8,756.70 | 0.69% |
| Total: | 55,840.62 | 7,087,619.98 | 0.79% |
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| DAM | VanEck Digital Assets Mining ETF | 20.16% | 32,610 | 1.54 |
| BITQ | Bitwise Crypto Industry Innovators ETF | 19.63% | 867,013 | 63.02 |
| DAPP | VanEck Digital Transformation ETF | 19.22% | 595,704 | 33.58 |
| SATO | Invesco Alerian Galaxy Crypto Economy ETF | 19.00% | 13,478 | 3.21 |
| IBLC | iShares Blockchain and Tech ETF | 18.97% | 31,411 | 7.09 |
| GFOF | Grayscale Future of Finance ETF | 18.90% | 11,923 | 5.80 |
| CRPT | First Trust SkyBridge Crypto Industry and Digital Economy ETF | 18.04% | 288,276 | 19.81 |
| WGMI | Valkyrie Bitcoin Miners ETF | 17.62% | 388,163 | 6.49 |
| FDIG | Fidelity Crypto Industry and Digital Payments ETF | 17.51% | 159,340 | 27.81 |
| ARKW | ARK Next Generation Internet ETF | 16.31% | 3,109,869 | 1,396.79 |
Top 10 YTD Performers
| Ticker | Name | YTD Performance | Weekly Performance | AUM ($, mm) |
| WGMI | Valkyrie Bitcoin Miners ETF | 85.46% | 17.62% | 6.49 |
| DAM | VanEck Digital Assets Mining ETF | 70.81% | 20.16% | 1.54 |
| DAPP | VanEck Digital Transformation ETF | 63.30% | 19.22% | 33.58 |
| BITQ | Bitwise Crypto Industry Innovators ETF | 58.70% | 19.63% | 63.02 |
| IBLC | iShares Blockchain and Tech ETF | 52.62% | 18.97% | 7.09 |
| SATO | Invesco Alerian Galaxy Crypto Economy ETF | 52.13% | 19.00% | 3.21 |
| GFOF | Grayscale Future of Finance ETF | 46.69% | 18.90% | 5.80 |
| BITS | Global X Blockchain and Bitcoin Strategy ETF | 45.90% | 10.88% | 10.95 |
| FDIG | Fidelity Crypto Industry and Digital Payments ETF | 41.63% | 17.51% | 27.81 |
| NFTZ | Defiance Digital Revolution ETF | 36.58% | 14.71% | 5.40 |
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.
