ETF Inflows March Higher Despite Rising Yields

October 23, 2020

A modest sum of new cash entered U.S.-listed ETFs this week as stocks held steady and bonds sold off. On net, ETFs had net inflows of $6.7 billion during the week ending Thursday, Oct. 22. That brings year-to-date inflows up to $359.1 billion, ahead of the $218.6 billion seen at this same time a year ago.

Rates In Focus

This week's inflows were split relatively evenly across the various asset classes, though U.S. fixed income ETFs received the largest share (as they have throughout much of the year). This was despite a notable sell-off in Treasury bonds this week. The 10-year Treasury yield briefly hit 0.87%, its loftiest level since early June (bond prices and yields move inversely).

Nevertheless, investors put money to work in fixed income funds like the Vanguard Total Bond Market ETF (BND) and the Vanguard Total International Bond ETF (BNDX).

This is not to say that investors were completely dismissive of the rise in yields. The iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH), a bond fund that attempts to hedge out interest rate risk, saw its assets surge from $35 million to more than $550 million this week. 

Outflows From the Q's

On the other side of the ledger, the tech-heavy Invesco QQQ Trust (QQQ) topped the outflows list with redemptions of more than $2 billion. Prices for the fund dipped this week as some of the megacap tech stalwarts pulled back.

The First Trust Capital Strength EF (FTCS), which holds stocks of companies with low debt and high returns on equity, took the No. 2 spot on the weekly outflows list, with redemptions of $1.6 billion. 

The iShares Gold Trust (GLD), with outflows of $644 million, was another noteworthy fund on the outflows list.

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
SPY SPDR S&P 500 ETF Trust 3,834.39 298,660.00 1.28%
VTI Vanguard Total Stock Market ETF 1,467.95 171,191.55 0.86%
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 1,019.30 1,027.64 99.19%
VXUS Vanguard Total International Stock ETF 851.64 29,006.33 2.94%
ESGE iShares ESG MSCI EM ETF 555.41 4,687.82 11.85%
BNDX Vanguard Total International Bond ETF 476.46 33,776.44 1.41%
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF 425.15 556.57 76.39%
VNQ Vanguard Real Estate ETF 418.31 28,666.64 1.46%
DIA SPDR Dow Jones Industrial Average ETF Trust 397.93 23,700.92 1.68%
BND Vanguard Total Bond Market ETF 395.64 63,555.16 0.62%

 

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
QQQ Invesco QQQ Trust -2,087.56 138,725.77 -1.50%
FTCS First Trust Capital Strength ETF -1,566.92 6,249.21 -25.07%
IWM iShares Russell 2000 ETF -891.89 41,983.73 -2.12%
GLD SPDR Gold Trust -644.51 78,273.34 -0.82%
IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF -597.07 10,917.09 -5.47%
BBEU JPMorgan BetaBuilders Europe ETF -351.88 4,690.19 -7.50%
PZA Invesco National AMT-Free Municipal Bond ETF -324.86 2,353.43 -13.80%
IWR iShares Russell Mid-Cap ETF -315.64 21,402.60 -1.47%
VOO Vanguard S&P 500 ETF -287.92 164,422.17 -0.18%
IVV iShares Core S&P 500 ETF -277.07 220,018.64 -0.13%

 

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 1,552.34 2,722,625.79 0.06%
International Equity 1,622.29 892,634.23 0.18%
U.S. Fixed Income 3,591.04 938,798.54 0.38%
International Fixed Income 1,179.31 113,107.55 1.04%
Commodities -1,112.14 149,911.59 -0.74%
Currency -83.23 1,900.56 -4.38%
Leveraged 8.84 38,470.79 0.02%
Inverse -215.50 13,604.63 -1.58%
Asset Allocation 65.13 12,056.25 0.54%
Alternatives 121.63 5,511.83 2.21%
Total: 6,729.71 4,888,621.76 0.14%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 95,235.92 2,722,625.79 3.50%
International Equity 22,076.93 892,634.23 2.47%
U.S. Fixed Income 160,709.53 938,798.54 17.12%
International Fixed Income 16,965.10 113,107.55 15.00%
Commodities 45,757.23 149,911.59 30.52%
Currency 502.05 1,900.56 26.42%
Leveraged 2,083.93 38,470.79 5.42%
Inverse 13,291.15 13,604.63 97.70%
Asset Allocation 2,273.37 12,056.25 18.86%
Alternatives 252.47 5,511.83 4.58%
Total: 359,147.67 4,888,621.76 7.35%

 

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
BDRY Breakwave Dry Bulk Shipping ETF 9.57% 394,407 26.06
GRU Elements MLCX Grains Index-Total Return ETN 7.03% 61,921 3.34
EPHE iShares MSCI Philippines ETF 6.50% 268,223 113.17
COPX Global X Copper Miners ETF 5.52% 295,908 108.11
LEND Amplify CrowdBureau Peer-to-Peer Lending & Crowdfunding ETF 5.35% 1,976 0.35
SOCL Global X Social Media ETF 5.12% 135,905 223.42
ECH iShares MSCI Chile ETF 5.06% 1,473,700 401.38
JJC iPath Series B Bloomberg Copper Subindex Total Return ETN 4.98% 18,024 19.03
URA Global X Uranium ETF 4.67% 405,591 147.96
GXG Global X MSCI Colombia ETF 4.06% 59,398 36.02

 

Top 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
TAN Invesco Solar ETF 152.37% -3.12% 1,966.61
ARKG ARK Genomic Revolution ETF 112.92% -8.08% 2,854.34
XVZ iPath S&P 500 Dynamic VIX ETN 110.43% 0.31% 11.02
PBW Invesco WilderHill Clean Energy ETF 108.43% -3.06% 962.32
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund 105.17% -3.33% 756.32
ARKW ARK Next Generation Internet ETF 103.75% -0.68% 2,988.95
ARKK ARK Innovation ETF 101.46% -4.68% 10,259.19
ONLN ProShares Online Retail ETF 88.85% -2.04% 685.45
IBUY Amplify Online Retail ETF 88.06% -2.50% 1,027.17
KGRN KraneShares MSCI China Environment Index ETF 86.53% 0.21% 16.74

 

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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