'XLF' Helps Power Weekly Inflows, 'GLD' Has Big Outflows

September 02, 2016

When it comes to flows, ETFs closed out August on a strong note. According to FactSet, U.S.-listed exchange-traded funds had inflows of $5.6 billion in the week ending Thursday, Sept. 1―the eighth-straight week of positive flows. 

U.S. equity ETFs were the biggest winners, with inflows of $4.4 billion. That was followed by U.S. fixed-income ETFs, with inflows of $800 million and international equity ETFs, with inflows of $750 million.

On the other hand, commodity ETFs had outflows of $740 million, and international fixed-income ETFs had outflows of a modest $50 million.

Financials ETFs See Inflows

When it comes to individual ETFs, the SPDR S&P 500 ETF (SPY) led the pack, with creations of $2.4 billion. Two financials ETFs also saw strong interest: the Financial Select Sector SPDR Fund (XLF) and the iShares U.S. Financials ETF (IYF), with creations of $340 million and $240 million, respectively.

Another notable winner in terms of flows was the VanEck Vectors Gold Miners ETF (GDX), which had creations of nearly $290 million on the week. Gold prices remained in a relatively narrow trading range in the $1,300's during the past week and month.

GLD Outflows Total $790 Million

In contrast to the inflows into GDX, another gold ETF, the SPDR Gold Trust (GLD), saw sizable outflows during the week. GLD's redemptions of $790 million were enough to put it at No. 2 on the outflows list.

At the No. 1 spot was the PowerShares QQQ Trust (QQQ), with outflows of $850 million, and the iShares 20+ Year Treasury Bond ETF (TLT), with outflows of $310 million, took the No. 3 spot.

Expectations of a Fed rate hike sometime in the next few months have grown in recent weeks, pushing yields on long-maturity bonds higher and prices for ETFs holding those bonds lower. 

Other fixed-income ETFs to see redemptions during the week include the iShares iBoxx Investment Grade Corporate Bond ETF (LQD), with outflows of $170 million; the iShares iBoxx High Yield Corporate Bond ETF (HYG), with outflows of $150 million; and the PIMCO 25+ Year Zero Coupon US Treasury Index ETF (ZROZ) w, ith outflows of $120 million.

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

Top 10 Creations (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 ETF Trust 2,398.21 199,482.43 1.22%
XLF Financial Select Sector SPDR Fund 343.55 16,372.02 2.14%
GDX VanEck Vectors Gold Miners ETF 286.88 9,588.77 3.08%
XLK Technology Select Sector SPDR Fund 259.07 13,075.60 2.02%
IYF iShares U.S. Financials ETF 238.92 1,382.13 20.90%
MDY SPDR S&P Midcap 400 ETF Trust 235.52 17,405.71 1.37%
TIP iShares TIPS Bond ETF 232.05 18,482.53 1.27%
VOO Vanguard S&P 500 Index Fund 220.77 51,166.12 0.43%
VWO Vanguard FTSE Emerging Markets ETF 210.27 42,202.80 0.50%
VTI Vanguard Total Stock Market Index Fund 202.95 64,577.59 0.32%

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
QQQ PowerShares QQQ Trust -851.19 39,614.25 -2.10%
GLD SPDR Gold Trust -790.91 39,465.07 -1.96%
TLT iShares 20+ Year Treasury Bond ETF -308.08 7,875.56 -3.76%
IWB iShares Russell 1000 ETF -187.47 16,139.80 -1.15%
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF -172.79 32,711.86 -0.53%
HYG iShares iBoxx $ High Yield Corporate Bond ETF -146.93 16,454.40 -0.89%
IYK iShares U.S. Consumer Goods ETF -139.84 705.17 -16.55%
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index ETF -118.02 253.16 -31.79%
DUST Direxion Daily Gold Miners Bear 3x Shares -111.45 480.74 -18.82%
IVV iShares Core S&P 500 ETF -109.41 78,650.02 -0.14%

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 4,373.64 1,329,263.25 0.33%
International Equity 751.59 505,168.27 0.15%
U.S. Fixed Income 799.19 403,734.96 0.20%
International Fixed Income -53.19 40,838.71 -0.13%
Commodities -741.94 73,754.47 -1.01%
Currency -1.02 1,416.98 -0.07%
Leveraged 510.16 24,178.93 2.11%
Inverse -57.79 19,917.97 -0.29%
Asset Allocation 28.71 6,450.28 0.45%
Alternatives 30.31 4,526.55 0.67%
Total: 5,639.66 2,409,250.38 0.23%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
JPEU JPMorgan Diversified Return Europe Equity ETF 473 2,500 529.08%
IXG iShares Global Financials ETF 47,097 215,928 458.48%
FJP First Trust Japan AlphaDEX Fund 28,254 100,774 356.67%
GXG Global X MSCI Colombia ETF 90,031 292,951 325.39%
MXI iShares Global Materials ETF 46,950 127,182 270.89%
BSCL Guggenheim BulletShares 2021 Corporate Bond ETF 111,361 267,292 240.02%
STOT SPDR DoubleLine Short Duration Total Return Tactical 520 1,753 336.76%
DBV PowerShares DB G10 Currency Harvest Fund 15,748 25,514 162.01%
RYU Guggenheim S&P 500 Equal Weight Utilities ETF 37,777 65,676 173.85%
DBC PowerShares DB Commodity Index Tracking Fund 2,288,480 4,072,999 177.98%

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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