XLE & GLD Top Weekly Flows; DBEF's Assets Plunge

September 23, 2016

Strong inflows into U.S. fixed-income products helped push overall ETF flows into positive territory. Data from FactSet showed that investors added $4.3 billion into U.S.-listed ETFs in the week ending Thursday, Sept. 22. 

The bulk of that, or $3.8 billion, went into U.S. fixed-income products. Other segments to see inflows included commodity ETFs, with inflows of more than $800 million; international fixed-income ETFs, with inflows in excess of $400 million; and U.S. equity ETFs, with inflows topping $200 million. 

The only major segment to see an outflow was international equity ETFs, with redemptions totaling more than $1 billion.

XLE & GLD Top Inflows List

In terms of individual ETFs, one notable winner was the Energy Select Sector SPDR Fund (XLE). It had inflows of $840 million in the week, the equivalent of 6.1% of its assets under management. Oil prices have remained range-bound for some time now between $40 and $50 a barrel.

Meanwhile, the SPDR Gold Trust (GLD) was another commodity-related ETF that garnered strong inflows. Its weekly inflows of just under $800 million put its AUM above the $40 billion mark. Additionally, the VanEck Vectors Gold Miners ETF (GDX) also had strong inflows in the latest week, to the tune of $390 million.

Though as an asset class, fixed-income had the largest flows this week, only two individual fixed-income ETFs made the top 10 list. Those were the iShares 1-3 Year Treasury Bond ETF (SHY) and the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD), with inflows of $680 million and $530 million, respectively.

DBEF & HEFA Bleed Assets

On the outflows side, the most notable loser was the Deutsche X-trackers MSCI EAFE Hedged Equity ETF (DBEF), with redemptions of $1 billion, or 10% of its assets. DBEF, along with several other international equity ETFs, have seen consistent outflows all year long

Similarly, the iShares Currency Hedged MSCI EAFE ETF (HEFA) also lost significant assets. Its outflows of $380 million this week were the equivalent of 10.5% of the ETF's AUM.

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
QQQ PowerShares QQQ Trust 1,382.55 39,816.86 3.60%
XLE Energy Select Sector SPDR Fund 841.69 14,578.77 6.13%
GLD SPDR Gold Trust 791.09 40,533.80 1.99%
SHY iShares 1-3 Year Treasury Bond ETF 680.23 10,958.33 6.62%
DIA SPDR Dow Jones Industrial Average ETF Trust 661.97 12,658.85 5.52%
IWD iShares Russell 1000 Value ETF 627.71 31,038.45 2.06%
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF 534.54 32,443.39 1.68%
GDX VanEck Vectors Gold Miners ETF 390.19 11,644.82 3.47%
XLU Utilities Select Sector SPDR Fund 361.59 8,007.32 4.73%
SMH VanEck Vectors Semiconductor ETF 352.48 642.82 121.40%

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 ETF Trust -2,585.93 194,295.91 -1.31%
DBEF Deutsche X-trackers MSCI EAFE Hedged Equity ETF -1,018.09 8,938.13 -10.23%
VO Vanguard Mid-Cap Index Fund -971.08 15,056.82 -6.06%
VB Vanguard Small-Cap Index Fund -731.43 14,026.89 -4.96%
VBR Vanguard Small Cap Value Index Fund -578.20 8,127.13 -6.64%
GDXJ VanEck Vectors Junior Gold Miners ETF -442.74 4,968.74 -8.18%
HEFA iShares Currency Hedged MSCI EAFE ETF -384.80 3,293.22 -10.46%
IWM iShares Russell 2000 ETF -350.91 27,860.31 -1.24%
XLF Financial Select Sector SPDR Fund -344.93 11,956.92 -2.80%
VOE Vanguard Mid Cap Value Index Fund -294.28 5,530.79 -5.05%

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 217.97 1,310,445.03 0.02%
International Equity -1,078.29 502,873.21 -0.21%
U.S. Fixed Income 3,788.62 402,335.60 0.94%
International Fixed Income 417.92 40,541.02 1.03%
Commodities 823.14 73,043.84 1.13%
Currency -50.19 1,356.30 -3.70%
Leveraged 225.80 24,085.00 0.94%
Inverse -28.30 20,203.93 -0.14%
Asset Allocation -7.30 6,365.73 -0.11%
Alternatives 12.13 4,498.37 0.27%
Total: 4,321.49 2,385,748.02 0.18%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
WPS iShares International Developed Property ETF 22,178 107,418 484.35%
PVI PowerShares VRDO Tax-Free Weekly Portfolio 8,759 32,576 371.92%
INP iPath MSCI India Index ETN 7,072 20,513 290.08%
IWL iShares Russell Top 200 ETF 6,170 13,035 211.26%
RLY SPDR SSgA Multi-Asset Real Return ETF 14,723 26,787 181.94%
DBGR Deutsche X-trackers MSCI Germany Hedged Equity ETF 23,889 55,354 231.71%
FIEU Credit Suisse FI Enhanced Europe 50 ETN 3,399 5,440 160.03%
IWP iShares Russell Mid-Cap Growth ETF 308,743 630,202 204.12%
IPE SPDR Barclays TIPS ETF 26,216 51,177 195.22%
HAP VanEck Vectors Natural Resources ETF 13,054 17,758 136.04%

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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