Fixed Income Leads Weekly ETF Inflows

May 29, 2020

Another strong week of gains for U.S. stocks helped bolster weekly ETF inflows, but the majority of fresh assets flowed into fixed income products. On net, $6.7 billion of new money entered U.S.-listed ETFs during the week ending Thursday, May 28. That pushed year-to-date inflows up to $137.9 billion, ahead of the $66.9 billion seen at this same time last year.

Of this week's inflows, $1.5 billion headed for U.S. equity ETFs like the iShares Core S&P 500 ETF (IVV) and the iShares Core Dividend Growth ETF (DGRO). A fresh three-month high in the S&P 500 lent confidence to investors, who have now bid U.S. stocks up to just 10% below their all-time highs from February. 

That confidence also extended to corporate bond ETFs, where investors and the Fed have been making purchases. About $1.7 billion went into the iShares iBoxx USD High Yield Corporate Bond ETF (HYG) and $1.1 billion flowed into the iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD) this week. 

In the latest snapshot of its holdings, the Federal Reserve mentioned that it had purchased $3 billion of corporate bond ETFs, up from $1.8 billion last week.

Outflows From Custom Products

Meanwhile, on the outflows side, the Credit Suisse FI Large Cap Growth Enhanced ETN (FLGE), the Large Cap Growth Index-Linked ETN (FRLG) and the UBS AG FI Enhanced Large Cap Growth ETN (FBGX) each saw significant outflows, totaling more than $3.6 billion. The three are bespoke products created for Fisher Asset Management and offer 2x leveraged exposure to the Russell 1000. 

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
HYG iShares iBoxx USD High Yield Corporate Bond ETF 1,707.50 24,444.18 6.99%
LQD iShares iBoxx USD Investment Grade Corporate Bond ETF 1,093.50 48,998.00 2.23%
IVV iShares Core S&P 500 ETF 1,068.43 189,632.30 0.56%
DGRO iShares Core Dividend Growth ETF 904.86 10,478.82 8.64%
XLF Financial Select Sector SPDR Fund 774.63 18,476.47 4.19%
AGG iShares Core U.S. Aggregate Bond ETF 773.02 72,261.63 1.07%
XLI Industrial Select Sector SPDR Fund 623.83 8,346.12 7.47%
VOO Vanguard S&P 500 ETF 552.64 138,632.20 0.40%
VCSH Vanguard Short-Term Corporate Bond ETF 455.67 26,044.25 1.75%
VUG Vanguard Growth ETF 441.79 52,125.15 0.85%

 

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 ETF Trust -2,684.72 266,946.20 -1.01%
FLGE Credit Suisse FI Large Cap Growth Enhanced ETN -1,481.74 338.29 -438.01%
FRLG Large Cap Growth Index-Linked ETN -1,320.79 162.51 -812.75%
QQQ Invesco QQQ Trust -986.02 107,914.76 -0.91%
FBGX UBS AG FI Enhanced Large Cap Growth ETN -812.60 522.62 -155.48%
EFA iShares MSCI EAFE ETF -778.29 44,786.77 -1.74%
IWM iShares Russell 2000 ETF -515.59 38,050.48 -1.36%
XLU Utilities Select Sector SPDR Fund -425.34 11,121.56 -3.82%
IGV iShares Expanded Tech-Software Sector ETF -387.16 3,890.76 -9.95%
SHV iShares Short Treasury Bond ETF -376.73 24,763.78 -1.52%

 

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 1,528.45 2,386,447.06 0.06%
International Equity -945.05 740,898.27 -0.13%
U.S. Fixed Income 7,412.14 832,758.31 0.89%
International Fixed Income 466.17 88,168.09 0.53%
Commodities ETFs 786.99 112,649.45 0.70%
Currency -11.45 2,005.65 -0.57%
Leveraged -2,922.31 32,483.05 -9.00%
Inverse 267.37 17,123.02 1.56%
Asset Allocation 234.91 9,463.98 2.48%
Alternatives -81.70 4,446.61 -1.84%
Total: 6,735.51 4,226,443.50 0.16%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 53,877.98 2,386,447.06 2.26%
International Equity -18,341.88 740,898.27 -2.48%
U.S. Fixed Income 58,983.45 832,758.31 7.08%
International Fixed Income 1,136.04 88,168.09 1.29%
Commodities ETFs 27,876.83 112,649.45 24.75%
Currency 694.70 2,005.65 34.64%
Leveraged 3,196.18 32,483.05 9.84%
Inverse 11,673.94 17,123.02 68.18%
Asset Allocation 226.79 9,463.98 2.40%
Alternatives -1,381.92 4,446.61 -31.08%
Total: 137,942.11 4,226,443.50 3.26%

 

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
FFIU UVA Unconstrained Medium-Term Fixed Income ETF 10,277 67,924 660.96%
AVDV Avantis International Small Cap Value ETF 44,473 281,246 632.40%
HERO Global X Video Games & Esports ETF 121,719 602,949 495.36%
USSG Xtrackers MSCI U.S.A. ESG Leaders Equity ETF 611,177 2,716,955 444.54%
VFMV Vanguard U.S. Minimum Volatility ETF 10,374 38,495 371.09%
FLLV Franklin Liberty U.S. Low Volatility ETF 21,256 71,808 337.83%
MDYG SPDR S&P 400 Mid Cap Growth ETF 483,162 1,497,694 309.98%
TPYP Tortoise North American Pipeline Fund 203,399 617,230 303.46%
PJAN Innovator S&P 500 Power Buffer ETF - January 32,863 105,013 319.55%
IBDD iShares iBonds Mar 2023 Term Corporate ETF 7,261 19,094 262.98%

 

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
MLTI Credit Suisse X-Links Multi-Asset High Income ETN 49.76% 2,706 5.47
JETS US Global Jets ETF 16.72% 21,741,010 951.42
KRE SPDR S&P Regional Banking ETF 16.26% 42,071,091 1,125.40
KBWB Invesco KBW Bank ETF 15.86% 6,157,339 493.51
KBE SPDR S&P Bank ETF 15.71% 12,981,258 1,345.35
IAT iShares U.S. Regional Banks ETF 15.70% 668,536 237.42
FBZ First Trust Brazil AlphaDEX Fund 15.68% 36,421 7.73
KBWR Invesco KBW Regional Banking ETF 15.24% 28,269 34.91
FTXO First Trust Nasdaq Bank ETF 14.92% 220,478 68.40
QABA First Trust NASDAQ ABA Community Bank Index Fund 14.69% 74,377 77.31

 

Top 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
VXX iPath Series B S&P 500 VIX Short Term Futures ETN 128.04% -3.49% 670.60
VIIX VelocityShares Daily Long VIX Short-Term ETN 127.07% -3.50% 49.32
VIXY ProShares VIX Short-Term Futures ETF 126.95% -3.55% 171.82
XVZ iPath S&P 500 Dynamic VIX ETN 93.01% -1.22% 5.92
VIXM ProShares VIX Mid-Term Futures ETF 87.18% -2.33% 61.03
VXZ iPath Series B S&P 500 VIX Mid-Term Futures ETN 85.96% -2.12% 26.91
GRNTF iPath Global Carbon ETN 74.64% 0.00% 4.90
ARKG ARK Genomic Revolution ETF 35.11% -6.88% 1,038.43
CLIX ProShares Long Online/Short Stores ETF 34.63% -6.33% 172.66
WCLD WisdomTree Cloud Computing Fund 31.51% -2.40% 152.47

 

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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