Volatile Oil ETF Drives Weekly Inflows
The oil ETF helped push total weekly ETF inflows to $7.1 billion.
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 $893 million. Junk bond prices dipped during the week as oil prices collapsed, but HYG remains well above its lows set in March.
Finally, on the outflows side, the iShares Core MSCI Emerging Markets ETF (IEMG), the iShares MSCI EAFE ETF (EFA) and the Vanguard FTSE Emerging Markets ETF (VWO) were among the international equity ETFs to fall out of favor with investors this week.
For a full list of this week's top inflows and outflows, see the tables below:
Top 10 Creations (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
USO | United States Oil Fund LP | 2,215.51 | 3,431.43 | 64.57% |
GLD | SPDR Gold Trust | 1,126.35 | 57,317.98 | 1.97% |
HYG | iShares iBoxx USD High Yield Corporate Bond ETF | 893.28 | 18,011.12 | 4.96% |
QQQ | Invesco QQQ Trust | 879.13 | 95,019.75 | 0.93% |
UCO | ProShares Ultra Bloomberg Crude Oil | 815.02 | 722.90 | 112.74% |
XLV | Health Care Select Sector SPDR Fund | 640.71 | 23,834.92 | 2.69% |
RSP | Invesco S&P 500 Equal Weight ETF | 628.54 | 11,194.35 | 5.61% |
TLT | iShares 20+ Year Treasury Bond ETF | 593.16 | 18,222.53 | 3.26% |
VCSH | Vanguard Short-Term Corporate Bond ETF | 579.12 | 24,075.66 | 2.41% |
SHV | iShares Short Treasury Bond ETF | 532.29 | 24,997.67 | 2.13% |
Top 10 Redemptions (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
SPY | SPDR S&P 500 ETF Trust | -1,934.76 | 254,470.67 | -0.76% |
IEMG | iShares Core MSCI Emerging Markets ETF | -1,929.97 | 45,225.85 | -4.27% |
IWM | iShares Russell 2000 ETF | -1,265.38 | 31,593.13 | -4.01% |
IVV | iShares Core S&P 500 ETF | -1,099.18 | 176,329.61 | -0.62% |
DIA | SPDR Dow Jones Industrial Average ETF Trust | -800.78 | 18,873.08 | -4.24% |
EFA | iShares MSCI EAFE ETF | -728.43 | 45,125.17 | -1.61% |
FLOT | iShares Floating Rate Bond ETF | -593.16 | 7,139.92 | -8.31% |
VWO | Vanguard FTSE Emerging Markets ETF | -494.25 | 51,108.54 | -0.97% |
XLF | Financial Select Sector SPDR Fund | -470.69 | 15,697.56 | -3.00% |
IEFA | iShares Core MSCI EAFE ETF | -456.25 | 59,355.17 | -0.77% |
ETF Weekly Flows By Asset Class
Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
U.S. Equity | -878.69 | 2,170,350.07 | -0.04% |
International Equity | -3,134.10 | 700,747.90 | -0.45% |
U.S. Fixed Income | 5,272.45 | 795,640.88 | 0.66% |
International Fixed Income | -56.77 | 83,263.32 | -0.07% |
Commodities ETFs | 4,355.86 | 103,241.94 | 4.22% |
Currency | -34.64 | 2,226.09 | -1.56% |
Leveraged | 1,038.68 | 31,946.95 | 3.25% |
Inverse | 491.56 | 18,139.95 | 2.71% |
Asset Allocation | 32.36 | 8,761.09 | 0.37% |
Alternatives | 19.79 | 4,497.76 | 0.44% |
Total: | 7,106.51 | 3,918,815.94 | 0.18% |
Asset Classes (Year-to-Date)
Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
U.S. Equity | 57,056.79 | 2,170,350.07 | 2.63% |
International Equity | -6,302.97 | 700,747.90 | -0.90% |
U.S. Fixed Income | 28,305.07 | 795,640.88 | 3.56% |
International Fixed Income | -1,107.91 | 83,263.32 | -1.33% |
Commodities ETFs | 21,141.68 | 103,241.94 | 20.48% |
Currency | 912.41 | 2,226.09 | 40.99% |
Leveraged | 8,350.45 | 31,946.95 | 26.14% |
Inverse | 9,218.58 | 18,139.95 | 50.82% |
Asset Allocation | -30.27 | 8,761.09 | -0.35% |
Alternatives | -1,562.73 | 4,497.76 | -34.74% |
Total: | 115,981.09 | 3,918,815.94 | 2.96% |
Top 10 Volume Surprises, Funds >$50 mm AUM
Ticker | Name | Average Volume (30 Day) | 1 Week Average Volume | % of Average |
USL | United States 12 Month Oil Fund LP | 636,492 | 2,980,985 | 468.35% |
DGL | Invesco DB Gold Fund | 44,015 | 79,831 | 181.37% |
WPS | iShares International Developed Property ETF | 31,809 | 66,108 | 207.83% |
DALT | Anfield Capital Diversified Alternatives ETF | 220,869 | 483,429 | 218.88% |
OMFL | Invesco Russell 1000 Dynamic Multifactor ETF | 164,832 | 330,278 | 200.37% |
AFIF | Anfield Universal Fixed Income ETF | 268,991 | 704,780 | 262.01% |
UCO | ProShares Ultra Bloomberg Crude Oil | 3,535,658 | 11,044,727 | 312.38% |
DBAW | Xtrackers MSCI All World ex U.S. Hedged Equity ETF | 37,926 | 51,685 | 136.28% |
PPH | VanEck Vectors Pharmaceutical ETF | 77,646 | 152,549 | 196.47% |
OIL | iPath Series B S&P GSCI Crude Oil ETN | 14,276,344 | 66,171,442 | 463.50% |
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
ZMLP | Direxion Zacks MLP High Income Index Shares | 731.51% | 441,749 | 33.24 |
VIIX | VelocityShares Daily Long VIX Short-Term ETN | 13.32% | 122,728 | 68.57 |
VXX | iPath Series B S&P 500 VIX Short Term Futures ETN | 13.16% | 75,672,449 | 813.37 |
VIXY | ProShares VIX Short-Term Futures ETF | 13.03% | 11,159,871 | 193.65 |
GOEX | Global X Gold Explorers ETF | 10.14% | 38,547 | 38.61 |
GDXJ | VanEck Vectors Junior Gold Miners ETF | 10.06% | 54,161,685 | 4,378.11 |
SGDM | Sprott Gold Miners ETF | 9.25% | 271,392 | 205.28 |
FCG | First Trust Natural Gas ETF | 9.11% | 10,958,641 | 74.10 |
GOAU | U.S. Global GO Gold and Precious Metal Miners ETF | 9.06% | 411,538 | 61.61 |
GDX | VanEck Vectors Gold Miners ETF | 8.58% | 114,303,836 | 12,893.81 |
Top 10 YTD Performers
Ticker | Name | YTD Performance | Weekly Performance | AUM ($, mm) |
ZMLP | Direxion Zacks MLP High Income Index Shares | 333.17% | 731.51% | 33.24 |
VIXY | ProShares VIX Short-Term Futures ETF | 191.55% | 13.03% | 193.65 |
VXX | iPath Series B S&P 500 VIX Short Term Futures ETN | 191.40% | 13.16% | 813.37 |
VIIX | VelocityShares Daily Long VIX Short-Term ETN | 190.93% | 13.32% | 68.57 |
XVZ | iPath S&P 500 Dynamic VIX ETN | 105.97% | 7.30% | 4.95 |
VIXM | ProShares VIX Mid-Term Futures ETF | 98.40% | 8.25% | 67.06 |
VXZ | iPath Series B S&P 500 VIX Mid-Term Futures ETN | 97.14% | 8.43% | 30.36 |
ZROZ | PIMCO 25+ Year Zero Coupon US Treasury Index ETF | 39.40% | 1.81% | 333.37 |
EDV | Vanguard Extended Duration Treasury ETF | 35.81% | 1.94% | 1,582.68 |
CLIX | ProShares Long Online/Short Stores ETF | 33.92% | 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.