ETF Inflows Surpass Last Year

Jun 28, 2019

Reviewed by: Sumit Roy

Edited by: Sumit Roy

The Fed’s dovish shift continued to reverberate throughout the markets this week, as investors threw another hefty sum into U.S.-listed ETFs. On net, $10.7 billion flowed into the space, with a relatively even split going into equities and fixed income products.

This week’s inflows added to last week’s strong $28.7 billion haul, and pushed year-to-date inflows up to $132.9 billion, ahead of last year’s $129.4 billion pace.

In last week’s Fed meeting, the U.S. central bank strongly hinted that it might cut interest rates soon, buoying prices for financial assets across the board. That’s resulted in investors buying up ETFs of all stripes, from equities to bonds to commodities.

For the week ending Thursday, June 27, $3.3 billion flowed into U.S. equity ETFs; $619 million went into international equity ETFs; $4.8 billion headed for U.S. fixed income ETFs and $1.7 billion entered commodity ETFs.

Investors Hop Into ‘GLD’

On the inflows side, three Russell equity ETFs topped the list, including the iShares Russell 1000 Value ETF (IWD), with a stellar $4.8 billion haul.

Also popular was the SPDR Gold Trust (GLD), which took in $1.4 billion, as gold prices surged to a six-year high above $1,420/oz.

Meanwhile, the iShares iBoxx USD High Yield Corporate Bond ETF (HYG) and the iShares iBoxx USD Investment Grade Corporate bond ETF (LQD) were the biggest fixed income flows winners of the week, each with creations of more than $1.2 billion.

Big Outflows For ‘IVV’

On the outflows side, the iShares Core S&P 500 ETF (IVV), a product popular among long-term investors, registered outflows of $6.5 billion.

The First Trust Cloud Computing ETF (SKYY) also made the outflows list, with redemptions of $1.1 billion, reversing an equally large inflow last week in what is likely a “heartbeat trade.”

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
IWD	iShares Russell 1000 Value ETF	4,795.68	43,210.86	11.10%
IWF	iShares Russell 1000 Growth ETF	3,880.25	48,168.03	8.06%
IWP	iShares Russell Mid-Cap Growth ETF	1,716.89	12,427.84	13.81%
HYG	iShares iBoxx USD High Yield Corporate Bond ETF	1,498.14	17,450.60	8.59%
GLD	SPDR Gold Trust	1,400.95	35,911.53	3.90%
IWS	iShares Russell Mid-Cap Value ETF	1,294.63	11,821.00	10.95%
QQQ	Invesco QQQ Trust	1,239.08	74,085.07	1.67%
LQD	iShares iBoxx USD Investment Grade Corporate Bond ETF	1,233.88	36,578.73	3.37%
IWR	iShares Russell Mid-Cap ETF	1,120.52	20,302.97	5.52%
IWN	iShares Russell 2000 Value ETF	1,078.38	9,726.84	11.09%

Top 10 Redemptions (All ETFs)

Ticker	Name	Net Flows ($,mm)	AUM ($, mm)	AUM % Change
IVV	iShares Core S&P 500 ETF	-6,494.47	174,668.50	-3.72%
VO	Vanguard Mid-Cap ETF	-1,671.79	25,827.94	-6.47%
IWM	iShares Russell 2000 ETF	-1,335.88	40,825.45	-3.27%
VCIT	Vanguard Intermediate-Term Corporate Bond ETF	-1,207.03	23,882.15	-5.05%
SKYY	First Trust Cloud Computing ETF	-1,089.06	2,160.91	-50.40%
HDV	iShares Core High Dividend ETF	-937.49	7,265.36	-12.90%
VUG	Vanguard Growth ETF	-869.84	40,647.75	-2.14%
EFA	iShares MSCI EAFE ETF	-628.10	60,620.46	-1.04%
RSP	Invesco S&P 500 Equal Weight ETF	-626.38	15,892.95	-3.94%
VB	Vanguard Small-Cap ETF	-579.81	24,699.40	-2.35%

ETF Weekly Flows By Asset Class

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	3,291.29	2,231,504.98	0.15%
International Equity	618.77	822,812.37	0.08%
U.S. Fixed Income	4,825.64	684,498.10	0.70%
International Fixed Income	854.62	77,485.75	1.10%
Commodities	1,657.13	68,563.87	2.42%
Currency	-56.39	1,443.10	-3.91%
Leveraged	-937.18	37,299.25	-2.51%
Inverse	402.09	11,980.17	3.36%
Asset Allocation	50.34	9,647.74	0.52%
Alternatives	-22.51	4,659.73	-0.48%
Total:	10,683.81	3,949,895.06	0.27%

Asset Classes (Year-to-Date)

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	49,653.36	2,231,504.98	2.23%
International Equity	8,436.11	822,812.37	1.03%
U.S. Fixed Income	66,127.98	684,498.10	9.66%
International Fixed Income	8,233.76	77,485.75	10.63%
Commodities	194.93	68,563.87	0.28%
Currency	-352.11	1,443.10	-24.40%
Leveraged	-3,214.93	37,299.25	-8.62%
Inverse	3,286.98	11,980.17	27.44%
Asset Allocation	-219.81	9,647.74	-2.28%
Alternatives	716.29	4,659.73	15.37%
Total:	132,862.55	3,949,895.06	3.36%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker	Name	Average Volume (30 Day)	1 Week Average Volume	% of Average
DVEM	WisdomTree Emerging Markets Dividend	7,540	23,862	316.45%
JMIN	JPMorgan U.S. Minimum Volatility ETF	49,788	140,019	281.23%
IGRO	iShares International Dividend Growth ETF	8,621	27,847	323.00%
JMBS	Janus Henderson Mortgage-Backed Securities ETF	4,898	12,938	264.17%
TTAC	TrimTabs All Cap U.S. Free-Cash-Flow ETF	14,311	43,396	303.24%
FLQE	Franklin LibertyQ Emerging Markets ETF	22,709	75,791	333.75%
DGS	WisdomTree Emerging Markets SmallCap Dividend Fund	119,742	406,214	339.24%
NFRA	FlexShares STOXX Global Broad Infrastructure Index Fund	103,845	344,418	331.67%
FIBR	iShares Edge U.S. Fixed Income Balanced Risk ETF	17,989	47,015	261.36%
AGZD	WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund	9,718	15,384	158.30%

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.

Sumit Roy

| Contact: [email protected]

Sumit Roy is the senior ETF analyst for etf.com, where he's worked for 12 years. Before joining the company, Roy was the managing editor and commodities analyst for Hard Assets Investor. He lives in the San Francisco Bay Area, where he enjoys climbing the city’s steep hills, playing pickleball and snowboarding.

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