ETF Inflows Pause As Stocks Hit Records

April 26, 2019

U.S. stocks hit record highs this week, but ETF investors took a breather from adding more money into the market. On net, a modest $375 million in new money entered U.S.-listed ETFs during the week ending Thursday, April 25.

During the period, which only encompassed four trading sessions because of the Good Friday holiday, investors pulled $2.3 billion out of U.S. equity ETFs, even as the S&P 500 notched its highest-ever closing level on Tuesday.

Offsetting those outflows were inflows of $1.7 billion and $1.4 billion, respectively, for international equity ETFs and U.S. fixed income ETFs.

Year-to-date inflows for all ETFs now stand at $76.1 billion, compared with $81.5 billion at the same time last year.

Impressive ‘TLT’ Haul

Taking the No. 1 position on the weekly inflows list was the iShares 20+ Year Treasury Bond ETF (TLT), with an impressive $2.1 billon haul. The 30-year Treasury bond yield slipped to the lowest level in more than two weeks, as traders anticipated the next move by the Federal Reserve would be an interest rate cut to head off overseas economic weakness.

Still, the current yield of 2.92% is above the 2.79% low set in March.

Along with TLT, the iShares 1-3 Year Treasury Bond ETF (SHY) and the iShares 7-10 Year Treasury Bond ETF (IEF) saw inflows during the week.

On the other hand, the Vanguard Short-Term Bond ETF (BSV) continued to shed assets. Its weekly outflows of $1.3 billion brought its year-to-date loss to $5.8 billion.

‘QQQ’ Tops Outflows List

Meanwhile, on the equity side, the Invesco QQQ Trust (QQQ), the iShares Core MSCI EAFE ETF (IEFA) and the iShares MSCI China ETF (MCHI) were among the biggest flows winners—while the SPDR S&P 500 ETF Trust (SPY), the iShares Russell Mid-Cap Value ETF (IWS) and the SPDR Dow Jones REIT ETF (RWR) were among the biggest losers.

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
TLT iShares 20+ Year Treasury Bond ETF 2,135.79 12,736.04 16.77%
QQQ Invesco QQQ Trust 542.51 76,177.34 0.71%
IEFA iShares Core MSCI EAFE ETF 522.29 63,595.56 0.82%
XLK Technology Select Sector SPDR Fund 436.68 21,024.98 2.08%
XLU Utilities Select Sector SPDR Fund 435.55 9,182.44 4.74%
VGT Vanguard Information Technology ETF 426.16 21,201.21 2.01%
SHY iShares 1-3 Year Treasury Bond ETF 419.38 19,585.37 2.14%
MCHI iShares MSCI China ETF 258.03 4,911.87 5.25%
IEF iShares 7-10 Year Treasury Bond ETF 231.88 13,446.06 1.72%
QUAL iShares Edge MSCI U.S.A. Quality Factor ETF 228.03 11,382.76 2.00%

 

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 ETF Trust -3,712.31 277,838.17 -1.34%
BSV Vanguard Short-Term Bond ETF -1,284.01 22,439.44 -5.72%
TIP iShares TIPS Bond ETF -755.16 20,825.32 -3.63%
IWS iShares Russell Mid-Cap Value ETF -512.89 11,019.00 -4.65%
RWR SPDR Dow Jones REIT ETF -475.50 2,408.71 -19.74%
IWM iShares Russell 2000 ETF -439.99 43,497.12 -1.01%
EMB iShares JP Morgan USD Emerging Markets Bond ETF -415.67 15,457.14 -2.69%
IEI iShares 3-7 Year Treasury Bond ETF -403.38 6,808.04 -5.93%
IWN iShares Russell 2000 Value ETF -348.74 9,140.21 -3.82%
HYG iShares iBoxx USD High Yield Corporate Bond ETF -294.35 17,012.38 -1.73%

 

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity -2,289.77 2,231,249.25 -0.10%
International Equity 1,672.98 839,969.82 0.20%
U.S. Fixed Income 1,351.31 642,758.94 0.21%
International Fixed Income -221.46 73,835.21 -0.30%
Commodities  -189.42 62,075.46 -0.31%
Currency 0.00 1,479.72 0.00%
Leveraged 234.13 39,331.67 0.60%
Inverse -177.42 11,534.81 -1.54%
Asset Allocation 18.84 9,543.09 0.20%
Alternatives -24.57 4,746.71 -0.52%
Total: 374.61 3,916,524.68 0.01%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 23,326.31 2,231,249.25 1.05%
International Equity 11,710.72 839,969.82 1.39%
U.S. Fixed Income 35,760.43 642,758.94 5.56%
International Fixed Income 6,190.56 73,835.21 8.38%
Commodities  -1,834.30 62,075.46 -2.95%
Currency -305.30 1,479.72 -20.63%
Leveraged -1,753.47 39,331.67 -4.46%
Inverse 2,744.00 11,534.81 23.79%
Asset Allocation -582.77 9,543.09 -6.11%
Alternatives 820.30 4,746.71 17.28%
Total: 76,076.47 3,916,524.68 1.94%

 

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
GMOM Cambria Global Momentum ETF 35,112 210,907 600.67%
FXU First Trust Utilities AlphaDEX Fund 253,133 1,522,125 601.31%

FXH

First Trust Health Care AlphaDEX Fund

258,991

1,291,555

498.69%

BSCQ Invesco BulletShares 2026 Corporate Bond ETF 43,078 155,023 359.87%
FIEE UBS AG FI Enhanced Europe 50 ETN 1,811 5,957 328.97%
JPMF JPMorgan Managed Futures Strategy ETF 1,579 5,147 325.99%
QQXT First Trust NASDAQ-100 Ex-Technology Sector Index Fund 3,417 8,837 258.64%
MOO VanEck Vectors Agribusiness ETF 27,488 66,936 243.51%
IGOV iShares International Treasury Bond ETF 125,179 301,084 240.52%
ARGT Global X MSCI Argentina ETF 56,080 130,381 232.49%

 

 

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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