Fixed Income ETFs Lead Strong Weekly Inflows

January 17, 2020

U.S. stocks kept humming this week as the S&P 500 rallied to fresh record highs. The venerable index topped 3,325 for the first time ever, bringing its year-to-date gains up to nearly 3%. 

In turn, investors kept plowing money into U.S.-listed ETFs. A cool $13.4 billion flowed into the space during the week ending Thursday, Jan. 16, sending year-to-date inflows to $35.2 billion, well ahead of year-ago levels of $8.4 billion.

Strong Inflows For Fixed Income ETFs 

Interestingly, though equity ETFs had solid inflows during the week, the bulk of new money went into U.S. fixed income products. Those funds picked up $5.6 billion of cash, more than the $2.9 billion that went into U.S. equity ETFs and the $2.8 billion that went into international equity ETFs. 

On a year-to-date basis, U.S. equity ETFs are still ahead, $14.2 billion to $11.4 billion, but the gap is much smaller than you'd expect considering the record run in stocks. So far this year, most fixed income ETFs are up thanks to a modest decline in interest rates (bond prices and rates move inversely). The iShares Core Aggregate Bond ETF (AGG), for example, has returned about 0.6%.

Individual Names 

Taking a look at individual ETF flows, the Vanguard Small-Cap ETF (VB) headlined the top inflows list, with creations of $1.5 billion. It was joined by the iShares 20+ Year Treasury Bond ETF (TLT), the iShares ESG MSCI U.S.A. ETF (ESGU) and the aforementioned AGG, among others. 

Meanwhile, on the outflows side, the Vanguard Short-Term Corporate Bond ETF (VCSH) had by far the largest redemptions of the week, at $1.6 billion. The SPDR S&P 500 ETF Trust (SPY), the iShares 3-7 Year Treasury Bond ETF (IEI) and the iShares Edge MSCI U.S.A. Size Factor ETF (SIZE) also registered outflows.

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
VB Vanguard Small-Cap ETF 1,450.22 29,327.90 4.94%
IVV iShares Core S&P 500 ETF 1,315.16 205,983.79 0.64%
TLT iShares 20+ Year Treasury Bond ETF 1,178.02 18,124.28 6.50%
ESGU iShares ESG MSCI U.S.A. ETF 1,152.12 2,657.90 43.35%
FTCS First Trust Capital Strength ETF 891.86 4,398.89 20.27%
AGG iShares Core U.S. Aggregate Bond ETF 823.46 70,953.59 1.16%
MBB iShares MBS ETF 802.69 22,672.55 3.54%
VCIT Vanguard Intermediate-Term Corporate Bond ETF 779.72 27,068.68 2.88%
HYG iShares iBoxx USD High Yield Corporate Bond ETF 767.21 19,962.48 3.84%
VUG Vanguard Growth ETF 642.87 48,961.77 1.31%

 

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
VCSH Vanguard Short-Term Corporate Bond ETF -1,557.40 24,322.53 -6.40%
SPY SPDR S&P 500 ETF Trust -1,343.39 315,360.31 -0.43%
IWM iShares Russell 2000 ETF -981.65 47,203.65 -2.08%
IEI iShares 3-7 Year Treasury Bond ETF -971.82 8,768.51 -11.08%
BIV Vanguard Intermediate-Term Bond ETF -754.16 12,986.02 -5.81%
XLE Energy Select Sector SPDR Fund -398.07 10,866.81 -3.66%
SIZE iShares Edge MSCI U.S.A. Size Factor ETF -370.58 1,290.14 -28.72%
IWD iShares Russell 1000 Value ETF -355.33 42,044.63 -0.85%
VTV Vanguard Value ETF -345.90 55,836.10 -0.62%
IYR iShares U.S. Real Estate ETF -332.87 4,156.80 -8.01%

 

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 2,911.22 2,590,453.41 0.11%
International Equity 2,786.08 911,694.05 0.31%
U.S. Fixed Income 5,588.41 773,497.93 0.72%
International Fixed Income 899.89 92,498.52 0.97%
Commodities  204.39 82,938.33 0.25%
Currency 26.52 1,396.28 1.90%
Leveraged 428.97 41,574.58 1.03%
Inverse 219.06 11,355.41 1.93%
Asset Allocation 175.06 11,023.02 1.59%
Alternatives 143.65 4,630.30 3.10%
Total: 13,383.25 4,521,061.83 0.30%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 14,156.07 2,590,453.41 0.55%
International Equity 6,910.75 911,694.05 0.76%
U.S. Fixed Income 11,444.01 773,497.93 1.48%
International Fixed Income 1,721.32 92,498.52 1.86%
Commodities  72.79 82,938.33 0.09%
Currency 32.45 1,396.28 2.32%
Leveraged 372.58 41,574.58 0.90%
Inverse 121.50 11,355.41 1.07%
Asset Allocation 208.72 11,023.02 1.89%
Alternatives 177.68 4,630.30 3.84%
Total: 35,217.87 4,521,061.83 0.78%

 

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
ESGU iShares ESG MSCI U.S.A. ETF 632,842 3,909,311 617.74%
ESGE iShares ESG MSCI EM ETF 947,028 5,352,401 565.18%
EEMA iShares MSCI Emerging Markets Asia ETF 70,979 308,752 434.99%
SIZE iShares Edge MSCI U.S.A. Size Factor ETF 252,876 1,088,547 430.47%
CSML IQ Chaikin U.S. Small Cap ETF 53,533 185,808 347.09%
OSCV Opus Small Cap Value ETF 11,041 42,466 384.62%
IXN iShares Global Tech ETF 85,483 288,312 337.27%
SHYG iShares 0-5 Year High Yield Corporate Bond ETF 1,267,728 4,121,650 325.12%
EMHY iShares Emerging Markets High Yield Bond ETF 134,298 471,273 350.92%
UOCT Innovator S&P 500 Ultra Buffer ETF - October 22,417 72,718 324.38%

 

Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
POTX Global X Cannabis ETF 19.90% 128,467 8.34
THCX The Cannabis ETF 15.15% 282,000 20.26
MJ ETFMG Alternative Harvest ETF 14.05% 8,286,264 812.52
CNBS Amplify Seymour Cannabis ETF 13.56% 42,095 5.01
YOLO AdvisorShares Pure Cannabis ETF 11.35% 373,942 50.20
TOKE Cambria Cannabis ETF 10.25% 52,360 11.36
LIT Global X Lithium & Battery Tech ETF 6.86% 1,234,712 539.35
PALL Aberdeen Standard Physical Palladium Shares ETF 6.32% 143,657 367.57
NIB iPath Bloomberg Cocoa Subindex Total Return ETN 5.26% 429,639 37.37
PBW Invesco WilderHill Clean Energy ETF 4.60% 633,355 265.52

 

Top 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
PALL Aberdeen Standard Physical Palladium Shares ETF 19.49% 6.32% 367.57
POTX Global X Cannabis ETF 11.98% 19.90% 8.34
CHIK Global X MSCI China Information Technology ETF 11.48% 2.61% 6.57
CHIC Global X MSCI China Communication Services ETF 10.78% 1.22% 23.93
CQQQ Invesco China Technology ETF 10.75% 1.58% 665.83
KWEB KraneShares CSI China Internet ETF 10.70% 1.58% 2,535.07
NGE Global X MSCI Nigeria ETF 10.69% -0.18% 43.49
THCX The Cannabis ETF 10.67% 15.15% 20.26
PBW Invesco WilderHill Clean Energy ETF 10.11% 4.60% 265.52
BUG Global X Cybersecurity ETF 9.77% 2.21% 2.70

 

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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