Weekly Outflows For ETFs, ‘XLE’ Sees $1.1B Inflow

March 08, 2019

Weekly flows for U.S.-listed ETFs continued to reflect this year’s tepid amount of new assets, in sharp contrasts to 2018’s blistering start and finish.

For the week ending Thursday, March 7, ETF saw $2.5 billion in outflows, which takes year-to-date totals down to $18 billion. As of March 15, 2018, ETFs have seen nearly $100 billion in new assets and were headed to second-best year for ETF flows.

No particular asset class stood out in terms of inflows or outflows. U.S. equity inflows were down $1 billion, almost equal to the outflows in U.S. fixed income. International equity ETFs led the asset-class pack, with $244 million in new assets.

Energy ETF ‘XLE’ Gets A Boost

The Energy Select Sector SPDR Fund (XLE) topped the creations list, with $1.16 billion, a nearly 8% increase in total assets under management, as it continues to outperform, rising 14.23% so far this year.

Compare that with the return of the SPDR S&P 500 ETF Trust (SPY), which had a return of 11% in the same time period, and also led outflows this week, with $2 billion flowing out. However, that amount is less than 1% of the total AUM for SPY, which has $257 billion in assets under management (AUM). XLE now has $14.6 billion in AUM.

Another ETF that saw strong weekly inflows was the Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR), which registered nearly $300 million in inflows, a 14.5% jump in total AUM.

Mixed Bag Of Outflows

Equity ETFs, long-term, short-term and junk bond funds and even gold—the SPDR Gold Trust (GLD), which saw almost $750 million in outflows—peppered the top 10 list, with no real trend other than investors seem to be moving around on the fixed-income space.

Percentagewise, the Vanguard Short-Term Treasury Index ETF (VGSH) saw the biggest outflows, with 14.5% of its assets leaving the $4.8 billion fund. On the other side of the bond curve, the iShares 20+ Year Treasury Bond ETF (TLT), had the second-most redemptions by percent, 8.3%, for that $10 billion fund.

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
XLE Energy Select Sector SPDR Fund 1,163.31 14,660.24 7.94%
BSV Vanguard Short-Term Bond ETF 669.58 23,282.44 2.88%
SHY iShares 1-3 Year Treasury Bond ETF 643.03 19,726.46 3.26%
IVV iShares Core S&P 500 ETF 617.37 159,601.54 0.39%
VNQ Vanguard Real Estate ETF 455.05 33,046.15 1.38%
IEFA iShares Core MSCI EAFE ETF 350.14 57,664.37 0.61%
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF 294.20 2,035.20 14.46%
VTI Vanguard Total Stock Market ETF 270.89 107,395.87 0.25%
JNK SPDR Bloomberg Barclays High Yield Bond ETF 266.31 8,386.22 3.18%
USFR WisdomTree Floating Rate Treasury Fund 193.11 2,263.20 8.53%

 

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 ETF Trust -2,077.95 257,507.03 -0.81%
IWM iShares Russell 2000 ETF -1,378.53 41,243.19 -3.34%
TLT iShares 20+ Year Treasury Bond ETF -862.58 10,369.78 -8.32%
HYG iShares iBoxx USD High Yield Corporate Bond ETF -793.96 14,540.93 -5.46%
GLD SPDR Gold Trust -746.39 31,679.12 -2.36%
VGSH Vanguard Short-Term Treasury Index ETF -694.74 4,785.27 -14.52%
QQQ Invesco QQQ Trust -686.48 67,877.27 -1.01%
XLY Consumer Discretionary Select Sector SPDR Fund -596.36 12,216.01 -4.88%
XLI Industrial Select Sector SPDR Fund -577.75 10,125.93 -5.71%
EFA iShares MSCI EAFE ETF -386.59 64,998.82 -0.59%

 

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity -1,100.27 2,094,758.00 -0.05%
International Equity 244.74 812,651.82 0.03%
U.S. Fixed Income -990.02 616,081.95 -0.16%
International Fixed Income 64.21 73,980.31 0.09%
Commodities  -799.85 63,586.01 -1.26%
Currency -204.44 1,494.37 -13.68%
Leveraged 23.78 36,443.40 0.07%
Inverse 144.16 12,063.89 1.20%
Asset Allocation -4.68 9,357.30 -0.05%
Alternatives 46.47 4,605.19 1.01%
Total: -2,575.90 3,725,022.24 -0.07%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity -12,329.09 2,094,758.00 -0.59%
International Equity 6,308.08 812,651.82 0.78%
U.S. Fixed Income 16,974.66 616,081.95 2.76%
International Fixed Income 7,018.52 73,980.31 9.49%
Commodities  -476.19 63,586.01 -0.75%
Currency -302.82 1,494.37 -20.26%
Leveraged -1,391.20 36,443.40 -3.82%
Inverse 2,528.96 12,063.89 20.96%
Asset Allocation -551.11 9,357.30 -5.89%
Alternatives 467.51 4,605.19 10.15%
Total: 18,247.32 3,725,022.24 0.49%

 

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
DIVC C-Tracks ETN - Miller/Howard Strategic Dividend Reinvestor 21 150 713.11%
IQIN IQ 500 International ETF 5,925 41,354 697.99%
GBF iShares Government/Credit Bond ETF 27,183 176,613 649.73%
PEJ Invesco Dynamic Leisure and Entertainment ETF 23,752 141,810 597.04%

USHY

iShares Broad USD High Yield Corporate Bond ETF

76,538

362,568

473.71%

TDTF FlexShares iBoxx 5-Year Target Duration TIPS Index Fund 292,740 1,294,601 442.24%

HFXI

IQ 50 Percent Hedged FTSE International ETF

125,182

543,322

434.03%

WPS iShares International Developed Property ETF 371,591 1,596,996 429.77%
BKF iShares MSCI BRIC ETF 389,738 1,506,983 386.67%
CNYA iShares MSCI China A ETF 49,135 182,645 371.72%

 

 

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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