Volatile Oil ETF Drives Weekly Inflows

The oil ETF helped push total weekly ETF inflows to $7.1 billion. 

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

About $7.1 billion flowed into U.S.-listed exchange-traded products this week as financial markets remained relatively stable. The S&P 500 consolidated around the 2,800 level as investors digested the endless stream of coronavirus-related health and economic news. 

The stability was welcomed by investors who endured one of the most tumultuous periods in market history last month. As of this writing, the S&P 500 was up about 26% from its lows. At the same time, Treasury bond yields remained mired near their all-time lows amid consistent Fed purchases, lending support to bond ETFs (bond yields and prices move inversely).

The bulk of this week's inflows went into U.S. fixed income products, which picked up $5.3 billion of fresh cash. U.S. equity ETFs registered modest net outflows of $879 million, while international equity ETFs had net outflows of $3.1 billion.

Year-to-date inflows for all U.S.-listed ETFs now stand at $116 billion, compared to $76.1 billion at this same time last year.

USO & GLD In Vogue 

In terms of individual ETFs, two commodity ETFs headlined the top inflows list. The United States Oil Fund (USO) saw a flurry of bargain buying from retail investors, fueling weekly inflows of $2.2 billion. Those inflows may have been even higher were it not for the issuer suspending creations on Tuesday. Prices for USO are down a whopping 80% so far this year.

At the same time, the SPDR Gold Trust (GLD) picked up $1.1 billion of fresh cash. Gold prices were last trading near seven-year highs at $1,725/oz.

The iShares iBoxx USD High Yield Corporate Bond ETF (HYG) also made the top three, with weekly inflows of $893 million. Junk bond prices dipped during the week as oil prices collapsed, but HYG remains well above its lows set in March.

Finally, on the outflows side, the iShares Core MSCI Emerging Markets ETF (IEMG), the iShares MSCI EAFE ETF (EFA) and the Vanguard FTSE Emerging Markets ETF (VWO) were among the international equity ETFs to fall out of favor with investors this week.

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
USOUnited States Oil Fund LP2,215.513,431.4364.57%
GLDSPDR Gold Trust1,126.3557,317.981.97%
HYGiShares iBoxx USD High Yield Corporate Bond ETF893.2818,011.124.96%
QQQInvesco QQQ Trust879.1395,019.750.93%
UCOProShares Ultra Bloomberg Crude Oil815.02722.90112.74%
XLVHealth Care Select Sector SPDR Fund640.7123,834.922.69%
RSPInvesco S&P 500 Equal Weight ETF628.5411,194.355.61%
TLTiShares 20+ Year Treasury Bond ETF593.1618,222.533.26%
VCSHVanguard Short-Term Corporate Bond ETF579.1224,075.662.41%
SHViShares Short Treasury Bond ETF532.2924,997.672.13%

 

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
SPYSPDR S&P 500 ETF Trust-1,934.76254,470.67-0.76%
IEMGiShares Core MSCI Emerging Markets ETF-1,929.9745,225.85-4.27%
IWMiShares Russell 2000 ETF-1,265.3831,593.13-4.01%
IVViShares Core S&P 500 ETF-1,099.18176,329.61-0.62%
DIASPDR Dow Jones Industrial Average ETF Trust-800.7818,873.08-4.24%
EFAiShares MSCI EAFE ETF-728.4345,125.17-1.61%
FLOTiShares Floating Rate Bond ETF-593.167,139.92-8.31%
VWOVanguard FTSE Emerging Markets ETF-494.2551,108.54-0.97%
XLFFinancial Select Sector SPDR Fund-470.6915,697.56-3.00%
IEFAiShares Core MSCI EAFE ETF-456.2559,355.17-0.77%

 

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity-878.692,170,350.07-0.04%
International Equity-3,134.10700,747.90-0.45%
U.S. Fixed Income5,272.45795,640.880.66%
International Fixed Income-56.7783,263.32-0.07%
Commodities ETFs4,355.86103,241.944.22%
Currency-34.642,226.09-1.56%
Leveraged1,038.6831,946.953.25%
Inverse491.5618,139.952.71%
Asset Allocation32.368,761.090.37%
Alternatives19.794,497.760.44%
Total:7,106.513,918,815.940.18%

 

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity57,056.792,170,350.072.63%
International Equity-6,302.97700,747.90-0.90%
U.S. Fixed Income28,305.07795,640.883.56%
International Fixed Income-1,107.9183,263.32-1.33%
Commodities ETFs21,141.68103,241.9420.48%
Currency912.412,226.0940.99%
Leveraged8,350.4531,946.9526.14%
Inverse9,218.5818,139.9550.82%
Asset Allocation-30.278,761.09-0.35%
Alternatives-1,562.734,497.76-34.74%
Total:115,981.093,918,815.942.96%

 

Top 10 Volume Surprises, Funds >$50 mm AUM

TickerNameAverage Volume
(30 Day)
1 Week Average
Volume
% of Average
USLUnited States 12 Month Oil Fund LP636,4922,980,985468.35%
DGLInvesco DB Gold Fund44,01579,831181.37%
WPSiShares International Developed Property ETF31,80966,108207.83%
DALTAnfield Capital Diversified Alternatives ETF220,869483,429218.88%
OMFLInvesco Russell 1000 Dynamic Multifactor ETF164,832330,278200.37%
AFIFAnfield Universal Fixed Income ETF268,991704,780262.01%
UCOProShares Ultra Bloomberg Crude Oil3,535,65811,044,727312.38%
DBAWXtrackers MSCI All World ex U.S. Hedged Equity ETF37,92651,685136.28%
PPHVanEck Vectors Pharmaceutical ETF77,646152,549196.47%
OILiPath Series B S&P GSCI Crude Oil ETN14,276,34466,171,442463.50%

 

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

TickerNameWeekly PerformanceWeekly VolumeAUM ($, mm)
ZMLPDirexion Zacks MLP High Income Index Shares731.51%441,74933.24
VIIXVelocityShares Daily Long VIX Short-Term ETN13.32%122,72868.57
VXXiPath Series B S&P 500 VIX Short Term Futures ETN13.16%75,672,449813.37
VIXYProShares VIX Short-Term Futures ETF13.03%11,159,871193.65
GOEXGlobal X Gold Explorers ETF10.14%38,54738.61
GDXJVanEck Vectors Junior Gold Miners ETF10.06%54,161,6854,378.11
SGDMSprott Gold Miners ETF9.25%271,392205.28
FCGFirst Trust Natural Gas ETF9.11%10,958,64174.10
GOAUU.S. Global GO Gold and Precious Metal Miners ETF9.06%411,53861.61
GDXVanEck Vectors Gold Miners ETF8.58%114,303,83612,893.81

 

Top 10 YTD Performers

TickerNameYTD PerformanceWeekly PerformanceAUM ($, mm)
ZMLPDirexion Zacks MLP High Income Index Shares333.17%731.51%33.24
VIXYProShares VIX Short-Term Futures ETF191.55%13.03%193.65
VXXiPath Series B S&P 500 VIX Short Term Futures ETN191.40%13.16%813.37
VIIXVelocityShares Daily Long VIX Short-Term ETN190.93%13.32%68.57
XVZiPath S&P 500 Dynamic VIX ETN105.97%7.30%4.95
VIXMProShares VIX Mid-Term Futures ETF98.40%8.25%67.06
VXZiPath Series B S&P 500 VIX Mid-Term Futures ETN97.14%8.43%30.36
ZROZPIMCO 25+ Year Zero Coupon US Treasury Index ETF39.40%1.81%333.37
EDVVanguard Extended Duration Treasury ETF35.81%1.94%1,582.68
CLIXProShares Long Online/Short Stores ETF33.92%4.59%119.89

 

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.