'EEM' Dominates In Another Strong Week For ETF Flows

July 22, 2016

Another week of record highs in U.S. stocks gave investors confidence to continue adding money into ETFs. In aggregate, $7.7 billion flowed into U.S.-listed ETFs in the week ending Thursday, July 21.

U.S. equity ETFs led the way, with $3.1 billion worth of inflows in the period, but international equity ETFs weren't far behind, with $2.6 billion worth of inflows. U.S. fixed-income ETFs and international fixed-income ETFs saw smaller, but still notable, inflows of $911 million and $620 million, respectively.

EEM Dominates Inflows List

When it comes to individual ETFs, the iShares Emerging Markets ETF (EEM | B-100) was leagues ahead of all the others. It had $2.6 billion of inflows in the latest week, well ahead of the second-place SPDR S&P Midcap 400 ETF Trust (MDY | A-82), which had inflows of $682 million.

The iShares JP Morgan USD Emerging Markets Bond ETF (EMB | B-58) was another big winner, with net creations of $463 million.

On a percentage of assets basis, the PowerShares FTSE RAFI US 1500 Small-Mid Portfolio (PRFZ | A-88) was the biggest gainer, with inflows of $317 million, or 27.5% of its AUM.

Europe ETFs Fall Out Of Favor

Taking a look at the outflows list for the week, the Vanguard FTSE Europe ETF (VGK | A-97) took the top spot, with redemptions of $1.1 billion. The European Central Bank left monetary policy unchanged on Thursday, dampening enthusiasm for the region's stocks.

The Deutsche X-trackers MSCI EAFE Hedged Equity ETF (DBEF | B-73) and the WisdomTree Europe Hedged Equity Fund (HEDJ | B-47) also had notable outflows—$458 million and $299 million, respectively. 

On a percentage basis, the iShares 10-20 Year Treasury Bond ETF (TLH | A-64) was the biggest loser, with outflows of $218 million, or 20.5%.

Top 10 Creations (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
EEM iShares MSCI Emerging Markets ETF 2,625.83 27,378.09 10.61%
MDY SPDR S&P Midcap 400 ETF Trust 681.65 17,138.87 4.14%
EMB iShares JP Morgan USD Emerging Markets Bond ETF 463.02 8,481.27 5.77%
IVV iShares Core S&P 500 ETF 436.06 77,056.89 0.57%
XLF Financial Select Sector SPDR Fund 410.17 15,548.68 2.71%
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF 381.46 32,291.23 1.20%
DXJ WisdomTree Japan Hedged Equity Fund 352.62 7,786.94 4.74%
PRFZ PowerShares FTSE RAFI US 1500 Small-Mid Portfolio 316.58 1,467.30 27.51%
QUAL iShares MSCI USA Quality Factor ETF 308.63 2,723.38 12.78%
VXX iPath S&P 500 VIX Short-Term Futures ETN 305.47 1,612.30 23.38%

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
VGK Vanguard FTSE Europe ETF -1,053.21 11,727.12 -8.24%
QQQ PowerShares QQQ Trust -490.03 37,004.13 -1.31%
DBEF Deutsche X-trackers MSCI EAFE Hedged Equity ETF -458.27 10,781.84 -4.08%
IEF iShares 7-10 Year Treasury Bond ETF -369.79 9,461.70 -3.76%
XLP Consumer Staples Select Sector SPDR Fund -303.77 9,799.07 -3.01%
HEDJ WisdomTree Europe Hedged Equity Fund -298.60 10,080.94 -2.88%
IWM iShares Russell 2000 ETF -229.30 28,236.53 -0.81%
TLH iShares 10-20 Year Treasury Bond ETF -218.00 843.31 -20.54%
XLY Consumer Discretionary Select Sector SPDR Fund -215.52 10,173.31 -2.07%
XLK Technology Select Sector SPDR Fund -210.15 12,463.46 -1.66%

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 3,086.79 1,300,722.05 0.24%
International Equity 2,585.63 487,786.39 0.53%
U.S. Fixed Income 911.33 394,895.69 0.23%
International Fixed Income 620.43 38,136.64 1.63%
Commodities 213.68 75,048.11 0.28%
Currency 178.08 1,502.90 11.85%
Leveraged -235.62 25,233.83 -0.93%
Inverse -60.72 19,806.39 -0.31%
Asset Allocation 28.79 6,269.88 0.46%
Alternatives 353.67 4,073.24 8.68%
Total: 7,682.06 2,353,475.12 0.33%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
KBWY PowerShares KBW Premium Yield Equity REIT Portfolio 71,683 307,185 428.53%
IGF iShares Global Infrastructure ETF 123,349 317,583 257.47%
DVYE iShares Emerging Markets Dividend ETF 79,310 213,565 269.28%
RLY SPDR SSgA Multi-Asset Real Return ETF 13,263 26,912 202.91%
MGV Vanguard Mega Cap Value Index Fund 100,127 191,002 190.76%
EES WisdomTree SmallCap Earnings Fund 12,072 25,274 209.35%
IDLB PowerShares FTSE International Low Beta Equal Weight Portfolio 3,532 6,083 172.21%
FBG UBS AG FI Enhanced Big Cap Growth ETN 1,720 3,159 183.63%
LVL Guggenheim S&P Global Dividend Opportunities Index ETF 19,350 31,218 161.34%
PHDG Powershares S&P 500 Downside Hedged Portfolio 62,369 81,471 130.63%

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.

 

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