ETFs Have Inflows This Week Despite Volatility

March 06, 2020

Another week of intense volatility didn't stop investors from adding to their ETF holdings. Remarkably, they added $9.7 billion to U.S.-listed ETFs, even as financial markets swung around violently. Year-to-date inflows moved up to $86.9 billion, well ahead of last year's pace of $18.2 billion.

The S&P 500 fluctuated no less than 3.5% in every session this week. Though there were a couple relief rallies, stocks remained under immense pressure due to fears about the coronavirus. At the same time, Treasuries continued to surge, sending the 10-year yield sharply below 1% for the first time ever (bond prices and yields move inversely).

Treasuries Surge 

Unsurprisingly, given the action of the week, U.S. fixed income ETFs picked up the bulk of new assets. A cool $8.5 billion flowed into the space, including $1.2 billion into the SPDR Bloomberg Barclays 1-3 Month T-Bill ETF (BIL) and $1.2 billion into the iShares 1-3 Year Treasury Bond ETF (SHY)

Interestingly, the iShares iBoxx USD High Yield Corporate Bond ETF (HYG) picked up $2.1 billion, even as prices of junk bonds slid on economic slowdown concerns. 

But even as investors plowed money into fixed income ETFs, they also put a modest amount into U.S. equity ETFs. That segment gathered $1.7 billion in new cash, led by the Vanguard S&P 500 ETF (VOO) and the Utilities Select Sector SPDR Fund (XLU).

Commodity ETFs also managed to eke out a net inflow thanks to buying in the SPDR Gold Trust (GLD). Gold prices toppeed $1,670/oz during the week, close to seven-year highs. 

​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
VOO Vanguard S&P 500 ETF 4,156.40 140,082.99 2.97%
HYG iShares iBoxx USD High Yield Corporate Bond ETF 2,063.18 16,395.42 12.58%
BIL SPDR Bloomberg Barclays 1-3 Month T-Bill ETF 1,194.06 10,088.74 11.84%
SHY iShares 1-3 Year Treasury Bond ETF 1,157.94 18,535.45 6.25%
XLU Utilities Select Sector SPDR Fund 999.77 13,219.82 7.56%
TIP iShares TIPS Bond ETF 824.51 22,725.83 3.63%
IEF iShares 7-10 Year Treasury Bond ETF 784.16 22,182.15 3.54%
QQQ Invesco QQQ Trust 781.01 91,000.51 0.86%
XLE Energy Select Sector SPDR Fund 740.92 9,269.37 7.99%
GLD SPDR Gold Trust 693.76 49,993.61 1.39%

 

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
LQD iShares iBoxx USD Investment Grade Corporate Bond ETF -1,236.16 33,698.57 -3.67%
XLF Financial Select Sector SPDR Fund -832.09 20,556.51 -4.05%
EWJ iShares MSCI Japan ETF -819.61 10,144.47 -8.08%
VNQ Vanguard Real Estate ETF -687.09 37,919.07 -1.81%
SHV iShares Short Treasury Bond ETF -674.70 20,441.85 -3.30%
BKLN Invesco Senior Loan ETF -556.53 4,384.83 -12.69%
IVE iShares S&P 500 Value ETF -536.33 16,338.77 -3.28%
TVIX VelocityShares Daily 2x VIX Short-Term ETN -478.80 1,027.87 -46.58%
EEM iShares MSCI Emerging Markets ETF -461.42 26,119.70 -1.77%
SPLV Invesco S&P 500 Low Volatility ETF -453.17 12,403.14 -3.65%

 

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 1,660.46 2,460,764.65 0.07%
International Equity -2,489.68 840,826.70 -0.30%
U.S. Fixed Income 8,453.24 818,762.89 1.03%
International Fixed Income 422.97 96,516.27 0.44%
Commodities ETFs 691.47 90,943.28 0.76%
Currency 90.92 1,501.32 6.06%
Leveraged 1,019.66 40,271.15 2.53%
Inverse 64.06 12,108.24 0.53%
Asset Allocation 12.47 10,208.35 0.12%
Alternatives -219.12 5,004.27 -4.38%
Total: 9,706.46 4,376,907.13 0.22%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 23,277.04 2,460,764.65 0.95%
International Equity 10,808.21 840,826.70 1.29%
U.S. Fixed Income 39,272.18 818,762.89 4.80%
International Fixed Income 4,977.89 96,516.27 5.16%
Commodities ETFs 5,276.88 90,943.28 5.80%
Currency 162.79 1,501.32 10.84%
Leveraged 3,073.01 40,271.15 7.63%
Inverse 180.11 12,108.24 1.49%
Asset Allocation 149.60 10,208.35 1.47%
Alternatives -285.07 5,004.27 -5.70%
Total: 86,892.65 4,376,907.13 1.99%

 

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
RBUS Nationwide Risk-Based U.S. Equity ETF 11,590 81,327 701.71%
MXDU Nationwide Maximum Diversification U.S. Core Equity ETF 12,900 89,222 691.66%
RBIN Nationwide Risk-Based International Equity ETF 6,456 44,026 681.92%
FUMB First Trust Ultra Short Duration Municipal ETF 28,338 118,741 419.01%
DVP Deep Value ETF 199,115 1,278,627 642.15%
DBP Invesco DB Precious Metals Fund 43,154 157,898 365.90%
CRBN iShares MSCI ACWI Low Carbon Target ETF 25,467 72,175 283.41%
FGM First Trust Germany AlphaDEX Fund 8,766 43,208 492.91%
QLTA iShares Aaa-A Rated Corporate Bond ETF 80,346 244,161 303.89%
GNMA iShares GNMA Bond ETF 33,496 88,164 263.21%

 

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
GSC GS Connect S&P GSCI Enhanced Commodity TR Strategy ETN 16.11% 2,533 12,403.14
GDXJ VanEck Vectors Junior Gold Miners ETF 11.48% 124,916,374 4,947.86
GDX VanEck Vectors Gold Miners ETF 11.10% 401,134,228 12,813.95
SGDJ Sprott Junior Gold Miners ETF 11.02% 142,647 56.52
RING iShares MSCI Global Gold Miners ETF 10.91% 2,907,002 406.88
IDU iShares U.S. Utilities ETF 10.76% 633,989 1,221.36
IHF iShares U.S. Healthcare Providers ETF 10.72% 1,525,611 932.76
PUI Invesco DWA Utilities Momentum ETF 10.67% 364,064 148.32
XLU Utilities Select Sector SPDR Fund 10.52% 223,790,279 13,219.82
UTES Virtus Reaves Utilities ETF 10.26% 35,977 36.39

 

Top 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
VIXY ProShares VIX Short-Term Futures ETF 77.31% 0.96% 242.89
VIIX VelocityShares Daily Long VIX Short-Term ETN 76.64% 0.80% 29.79
VXX iPath Series B S&P 500 VIX Short Term Futures ETN 76.46% 0.83% 956.33
EVIX VelocityShares 1X Long VSTOXX Futures ETN 73.98% -1.89% 2.21
PALL Aberdeen Standard Physical Palladium Shares ETF 29.70% -0.81% 396.43
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index ETF 24.84% -1.28% 420.48
TAN Invesco Solar ETF 24.45% 5.62% 671.47
EDV Vanguard Extended Duration Treasury ETF 22.86% -0.14% 1,584.99
VIXM ProShares VIX Mid-Term Futures ETF 22.17% 1.99% 35.48
VXZ iPath Series B S&P 500 VIX Mid-Term Futures ETN 21.95% 1.62% 26.88

 

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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