US Equities Spark Weekly ETF Outflows

March 22, 2019

ETFs followed up on 2019’s largest weekly inflows with a modest reversal. In total, $4.8 billion flowed out of U.S.-listed ETFs, one week after they saw inflows of $37 billion. Year-to-date inflows slipped to $49.9 billion.

This week’s outflows were largely fueled by U.S. equity ETFs. About $6.5 billion came out of that segment, while a much more modest $875 million came out of international equity ETFs.

On the other hand, U.S. fixed-income ETFs took in a solid $2.4 billion, offsetting the $345 outflow from international fixed-income ETFs.

Volatile Markets

Markets were volatile this week. The S&P 500 reached the highest levels since early October on Thursday, before plunging on Friday. Concerns about economic growth and an inverted yield curve sparked the sell-off.

Bond prices surged and the yield on the 10-year Treasury bond dipped to as little as 2.42%, the lowest level in nearly 13 months. The yield on the 10-year briefly fell below that of the three-month Treasury. The so-called inverted yield curve, which often takes place before recessions, spooked investors.

The biggest flows winners during the week included the Invesco QQQ Trust (QQQ), the iShares Core S&P 500 ETF (IVV) and the iShares Russell 2000 ETF (IWM). Biggest losers included the iShares Select Dividend ETF (DVY), the Vanguard Value ETF (VTV) and the Vanguard Mid-Cap ETF (VO).

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 Invesco QQQ Trust 3,456.97 73,098.55 4.73%
IVV iShares Core S&P 500 ETF 2,148.14 168,209.30 1.28%
IWM iShares Russell 2000 ETF 2,010.49 44,302.97 4.54%
VOO Vanguard S&P 500 ETF 1,796.33 107,975.56 1.66%
SPY SPDR S&P 500 ETF Trust 1,163.12 264,323.24 0.44%
IEFA iShares Core MSCI EAFE ETF 1,158.26 60,093.46 1.93%
HYG iShares iBoxx USD High Yield Corporate Bond ETF 428.09 15,599.77 2.74%
XLC Communication Services Select Sector SPDR Fund 371.78 5,334.26 6.97%
IUSB iShares Core Total USD Bond Market ETF 309.80 3,272.80 9.47%
JNK SPDR Bloomberg Barclays High Yield Bond ETF 303.47 9,601.23 3.16%

 

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
DVY iShares Select Dividend ETF -2,537.79 16,926.42 -14.99%
VTV Vanguard Value ETF -2,277.42 46,479.79 -4.90%
VO Vanguard Mid-Cap ETF -1,908.75 24,747.07 -7.71%
VIG Vanguard Dividend Appreciation ETF -1,839.75 32,461.62 -5.67%
EFA iShares MSCI EAFE ETF -1,642.87 64,197.24 -2.56%
SCHD Schwab U.S. Dividend Equity ETF -1,133.53 8,896.97 -12.74%
VYM Vanguard High Dividend Yield ETF -1,047.56 22,922.41 -4.57%
VUG Vanguard Growth ETF -975.96 38,058.21 -2.56%
VB Vanguard Small-Cap ETF -954.22 24,240.69 -3.94%
XLK Technology Select Sector SPDR Fund -837.51 19,081.35 -4.39%

 

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity -6,466.11 2,144,841.31 -0.30%
International Equity -875.32 825,032.17 -0.11%
U.S. Fixed Income 2,392.82 628,413.65 0.38%
International Fixed Income -344.72 74,143.38 -0.46%
Commodities  203.98 65,059.74 0.31%
Currency -14.75 1,457.30 -1.01%
Leveraged -178.84 37,576.76 -0.48%
Inverse 253.27 11,845.98 2.14%
Asset Allocation 23.98 9,435.65 0.25%
Alternatives 171.38 4,688.50 3.66%
Total: -4,834.30 3,802,494.44 -0.13%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 11,537.56 2,144,841.31 0.54%
International Equity 6,327.37 825,032.17 0.77%
U.S. Fixed Income 24,773.88 628,413.65 3.94%
International Fixed Income 6,618.69 74,143.38 8.93%
Commodities ETFs -61.60 65,059.74 -0.09%
Currency -327.76 1,457.30 -22.49%
Leveraged -1,800.46 37,576.76 -4.79%
Inverse 2,792.32 11,845.98 23.57%
Asset Allocation -580.65 9,435.65 -6.15%
Alternatives 618.94 4,688.50 13.20%
Total: 49,898.29 3,802,494.44 1.31%

 

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
IAK iShares U.S. Insurance ETF 10,577 46,228 437.06%
LTPZ PIMCO 15+ Year US TIPS Index ETF 46,368 243,517 525.18%
MLPX Global X MLP & Energy Infrastructure ETF 555,657 1,306,970 235.21%
DFJ WisdomTree Japan SmallCap Dividend Fund 110,613 247,669 223.91%
DOO WisdomTree International Dividend ex-Financials Fund 17,228 35,634 206.84%
VDC Vanguard Consumer Staples ETF 203,812 368,947 181.02%
PCY Invesco Emerging Markets Sovereign Debt ETF 1,817,805 3,315,566 182.39%
WOOD iShares Global Timber & Forestry ETF 29,320 63,109 215.24%
YCS ProShares UltraShort Yen 4,510 7,715 171.07%
VAW Vanguard Materials ETF 144,469 237,439 164.35%

 

 

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.

Find your next ETF

CLEAR FILTER