Weekly Flows Show Flight To Safety

September 14, 2018

The latest look into ETF asset flows suggests investors are flocking to safety and quality.

Not only was U.S. fixed income the most in-demand asset class the week ended Thursday, Sept. 13, funds like the iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD) and the iShares 20+ Year Treasury Bond ETF (TLT) saw some of the week’s biggest net creations.

LQD raked in a net of $756 million, making it the No. 1 asset gatherer of the week, while TLT saw its total assets jump 6%.

In aggregate, investors poured a net of $4.2 billion into U.S.-listed ETFs during the past week, more than half of which landed into bond strategies. So far in 2018, U.S. fixed-income ETFs have attracted more than $57 billion in net inflows—a 10% growth in total assets since the beginning of the year.

U.S. equity ETFs, meanwhile, remain the most popular asset class this year, with net creations now totaling $73.8 billion, even if in the past week, demand for U.S. stock funds fell short of $1 billion in fresh net assets.

Some of that demand showed no preference for a specific tier of market capitalization, with funds like the iShares Core S&P 500 ETF (IVV), the iShares Core S&P Mid-Cap ETF (IJH) and the iShares Core S&P Small Cap ETF (IJR) all found among the week’s top 10 creations.

Year-to-date, U.S.-listed ETFs have seen net creations totaling $180 billion. The overall U.S. ETF market continues to hover around $3.7 trillion in total assets.

Top 10 Creations (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
LQD iShares iBoxx USD Investment Grade Corporate Bond ETF 756.35 34,399.74 2.25%
IVV iShares Core S&P 500 ETF 623.38 163,880.98 0.38%
TLT iShares 20+ Year Treasury Bond ETF 514.09 9,200.49 5.92%
IJH iShares Core S&P Mid-Cap ETF 508.83 50,931.61 1.01%
IEFA iShares Core MSCI EAFE ETF 483.18 57,695.54 0.84%
VTI Vanguard Total Stock Market ETF 353.53 105,710.77 0.34%
VT Vanguard Total World Stock ETF 344.01 12,251.78 2.89%
IJR iShares Core S&P Small Cap ETF 333.05 47,384.22 0.71%
SPIB SPDR Portfolio Intermediate Term Corporate Bond ETF 306.08 3,775.43 8.82%
XLP Consumer Staples Select Sector SPDR Fund 286.71 9,785.60 3.02%

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 ETF Trust -2,092.26 270,031.14 -0.77%
QQQ Invesco QQQ Trust -1,469.41 70,912.51 -2.03%
HYG iShares iBoxx USD High Yield Corporate Bond ETF -616.89 16,150.38 -3.68%
XLE Energy Select Sector SPDR Fund -368.55 17,429.72 -2.07%
EFA iShares MSCI EAFE ETF -356.45 69,454.75 -0.51%
EELV Invesco S&P Emerging Markets Low Volatility ETF -251.08 318.40 -44.09%
SCZ iShares MSCI EAFE Small-Cap ETF -245.65 10,196.12 -2.35%
XLI Industrial Select Sector SPDR Fund -213.15 13,332.24 -1.57%
SOXX iShares PHLX Semiconductor ETF -211.36 1,601.90 -11.66%
AAXJ iShares MSCI All Country Asia ex Japan ETF -206.93 3,841.05 -5.11%

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 971.92 2,156,219.51 0.05%
International Equity -436.51 774,611.35 -0.06%
U.S. Fixed Income 2,835.78 570,534.12 0.50%
International Fixed Income 500.52 63,943.84 0.78%
Commodities  -137.69 58,894.36 -0.23%
Currency -14.72 1,079.04 -1.36%
Leveraged 745.73 37,409.81 1.99%
Inverse -335.82 12,594.23 -2.67%
Asset Allocation 27.74 9,453.29 0.29%
Alternatives 66.23 4,690.48 1.41%
Total: 4,223.18 3,689,430.02 0.11%

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 73,810.58 2,156,219.51 3.42%
International Equity 35,244.09 774,611.35 4.55%
U.S. Fixed Income 57,842.46 570,534.12 10.14%
International Fixed Income 8,508.78 63,943.84 13.31%
Commodities  -1,792.05 58,894.36 -3.04%
Currency -108.03 1,079.04 -10.01%
Leveraged 3,840.84 37,409.81 10.27%
Inverse 2,134.15 12,594.23 16.95%
Asset Allocation 657.73 9,453.29 6.96%
Alternatives 499.92 4,690.48 10.66%
Total: 180,638.46 3,689,430.02 4.90%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
QARP Xtrackers Russell 1000 U.S. QARP ETF 17,843 98,596 552.58%
HYUP Xtrackers High Beta High Yield Bond ETF 13 55 420.54%
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 47,434 195,101 411.31%
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 21,736 80,892 372.16%
URTH iShares MSCI World ETF 26,907 94,815 352.38%
ONEO SPDR Russell 1000 Momentum Focus 9,611 26,977 280.67%
DEW WisdomTree Global High Dividend Fund 7,032 19,647 279.38%
PGF Invesco Financial Preferred ETF 257,037 702,195 273.19%
LOWC SPDR MSCI ACWI Low Carbon Target ETF 2,481 6,590 265.57%
RBUS Nationwide Risk-Based U.S. Equity ETF 624 1,558 249.59%

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
MJ ETFMG Alternative Harvest ETF 8.30% 4,007,975 579.19
PXJ Invesco Dynamic Oil & Gas Services ETF 5.89% 109,470 33.29
SGGB iPath Series B Bloomberg Sugar Subindex Total Return ETN 5.49% 49,535 27.66
XES SPDR S&P Oil & Gas Equipment & Services ETF 5.30% 4,422,126 371.50
OIH VanEck Vectors Oil Services ETF 4.35% 28,996,051 1,202.73
VNM VanEck Vectors Vietnam ETF 4.35% 694,976 363.84
IEZ iShares U.S. Oil Equipment & Services ETF 4.12% 294,449 311.41
RJN Elements Rogers International Commodity Index-Energy TR ETN 4.08% 66,478 311.41
OILB iPath Series B S&P GSCI Crude Oil ETN 4.01% 5,212 105.13
USL United States 12 Month Oil Fund LP 3.99% 54,889 80.49

 

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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