First Weekly Inflows In 3 Weeks

May 24, 2019

After two weeks of outflows, investors worked up the courage to cautiously add to their ETF positions this week. On net, $6.3 billion entered U.S.-listed ETFs during the week ending Thursday, May 23, according to FactSet. That pushed year-to-date inflows up to $73.5 billion, though that’s still behind last year’s pace of $117 billion.

This week’s inflows came even as trade war jitters still hung over the markets. The S&P 500 revisited the lows from last week at around 2,800, about 5% below its all-time highs, before rebounding slightly on bargain buying.

Funds like the SPDR S&P 500 ETF Trust (SPY), the iShares Edge MSCI Min Vol U.S.A. ETF (USMV) and the VanEck Vectors Semiconductors ETF (SMH) were among the biggest flows recipients this week.

Safe Haven Inflows

Yet even as investors added to their equity holdings, they aggressively bought up safe-haven bonds. The benchmark U.S. 10-year Treasury yield fell as low as 2.29% this week, a level not seen in 1 ½ years.

U.S. fixed income ETFs picked up $1.5 billion in fresh cash, with the Vanguard Total Bond Market ETF (BND) taking the mantle as the most popular fixed income fund of the period.

EEM Pummeled

Meanwhile, on the outflows side, international equity ETFs fared the worst. That group registered net redemptions of $628 million, largely due to the $842 million that came out of the iShares MSCI Emerging Markets ETF (EEM). That fund sank to its lowest levels since the beginning of January, as the ongoing China-U.S. trade war pressured equities across emerging markets.

For a full list of this week’s top inflows and outflows, see the tables below.

Contact Sumit Roy at [email protected]

 

Top 10 Creations (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 ETF Trust 4,119.90 264,246.36 1.56%
IVV iShares Core S&P 500 ETF 777.05 175,193.85 0.44%
IEFA iShares Core MSCI EAFE ETF 545.15 63,552.14 0.86%
XLK Technology Select Sector SPDR Fund 529.61 20,489.84 2.58%
USMV iShares Edge MSCI Min Vol U.S.A. ETF 474.01 26,741.26 1.77%
BND Vanguard Total Bond Market ETF 316.41 39,236.16 0.81%
JNK SPDR Bloomberg Barclays High Yield Bond ETF 300.67 9,034.09 3.33%
USSG Xtrackers MSCI U.S.A. ESG Leaders Equity ETF 279.51 1,162.06 24.05%
SMH VanEck Vectors Semiconductor ETF 257.00 1,385.59 18.55%
SOXX iShares PHLX Semiconductor ETF 247.39 1,427.73 17.33%

 

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
LQD iShares iBoxx USD Investment Grade Corporate Bond ETF -846.51 30,962.00 -2.73%
EEM iShares MSCI Emerging Markets ETF -842.15 30,761.44 -2.74%
XLU Utilities Select Sector SPDR Fund -714.94 9,338.86 -7.66%
XLV Health Care Select Sector SPDR Fund -614.13 18,294.19 -3.36%
QQQ Invesco QQQ Trust -530.14 70,600.45 -0.75%
IWM iShares Russell 2000 ETF -251.77 41,335.37 -0.61%
KWEB KraneShares CSI China Internet ETF -228.91 1,496.66 -15.29%
SPLV Invesco S&P 500 Low Volatility ETF -225.79 10,888.54 -2.07%
SPHB Invesco S&P 500 High Beta ETF -199.13 123.52 -161.21%
VOO Vanguard S&P 500 ETF -199.03 110,119.28 -0.18%

 

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 4,916.04 2,174,008.73 0.23%
International Equity -627.74 802,649.35 -0.08%
U.S. Fixed Income 1,456.69 648,325.98 0.22%
International Fixed Income 190.99 73,207.57 0.26%
Commodities  75.30 60,549.71 0.12%
Currency 18.09 1,480.11 1.22%
Leveraged 368.71 36,282.27 1.02%
Inverse -129.95 11,729.26 -1.11%
Asset Allocation 8.72 9,508.18 0.09%
Alternatives -24.78 4,567.28 -0.54%
Total: 6,252.07 3,822,308.45 0.16%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 20,698.72 2,174,008.73 0.95%
International Equity 9,702.41 802,649.35 1.21%
U.S. Fixed Income 39,794.38 648,325.98 6.14%
International Fixed Income 5,617.99 73,207.57 7.67%
Commodities  -2,854.16 60,549.71 -4.71%
Currency -301.23 1,480.11 -20.35%
Leveraged -1,610.66 36,282.27 -4.44%
Inverse 2,329.60 11,729.26 19.86%
Asset Allocation -471.10 9,508.18 -4.95%
Alternatives 611.84 4,567.28 13.40%
Total: 73,517.80 3,822,308.45 1.92%

 

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
HAUZ Xtrackers International Real Estate ETF 65,680 608,229 926.05%
SPHB Invesco S&P 500 High Beta ETF 248,919 1,630,301 654.95%
REMX VanEck Vectors Rare Earth/Strategic Metals ETF 329,427 2,606,558 791.24%
IFGL iShares International Developed Real Estate ETF 126,846 594,514 468.69%
FXB Invesco CurrencyShares British Pound Sterling Trust 41,158 199,515 484.75%
USSG Xtrackers MSCI U.S.A. ESG Leaders Equity ETF 1,331 6,269 470.86%
EEB Invesco BRIC ETF 12,301 46,373 376.99%
GRES IQ Global Resources ETF 26,626 165,845 622.88%
ONEY SPDR Russell 1000 Yield Focus 3,102 11,210 361.36%
EWUS iShares MSCI United Kingdom Small Cap ETF 2,298 7,397 321.87%

 

 

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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