Strong Weekly ETF Inflows: Stocks Look Past COVID Spike

November 20, 2020

Fresh record highs in the U.S. stock market corresponded with another strong week for ETF flows. On net, $17 billion headed into U.S.-listed ETFs during the week ending Thursday, Nov. 19, split evenly between U.S. equity, international equity and U.S. fixed income funds. 

Year-to-date inflows now stand at $417.4 billion, compared to $249.4 billion at this same time last year. Inflows are on track to challenege the record annual haul of $476.1 billion set in 2017.

Stocks Looking Ahead 

Despite surging COVID-19 cases across the country, the S&P 500 closed at a record high on Monday thanks to positive efficacy data for one of the leading coronavirus vaccines. Since then, the index has retreated modestly, but investors continue to look past the recent virus-related struggles and toward a potentially brighter economic backdrop in 2021. 

As stocks look ahead, fixed income markets seem to be more concerned with the here and now. The U.S. 10-year Treasury yield dipped from a high of 0.98% last week to 0.82% today. In turn, prices for many bond ETFs rallied (bond prices and yields move inversely).

In terms of individual ETFs, the Vanguard Total Stock Market ETF (VTI), the iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD) and the iShares MBS ETF (MBB) were the biggest flows winners of the week.

On the other hand, the SPDR S&P 500 ETF Trust (SPY), the SPDR Gold Trust (GLD) and the iShares Russell 2000 ETF (IWM) were the biggest flows losers.

For a 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
VTI Vanguard Total Stock Market ETF 1,897.70 183,936.12 1.03%
LQD iShares iBoxx USD Investment Grade Corporate Bond ETF 1,089.25 57,387.26 1.90%
MBB iShares MBS ETF 935.41 25,244.14 3.71%
IVV iShares Core S&P 500 ETF 822.40 230,861.39 0.36%
VXUS Vanguard Total International Stock ETF 676.34 33,535.57 2.02%
XLI Industrial Select Sector SPDR Fund 674.92 15,390.44 4.39%
VTV Vanguard Value ETF 609.55 57,576.65 1.06%
IJR iShares Core S&P Small-Cap ETF 576.40 49,509.72 1.16%
VCIT Vanguard Intermediate-Term Corporate Bond ETF 547.75 40,990.55 1.34%
VOO Vanguard S&P 500 ETF 521.42 173,714.96 0.30%

 

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 ETF Trust -4,325.89 317,754.08 -1.36%
GLD SPDR Gold Trust -1,325.97 73,407.85 -1.81%
IWM iShares Russell 2000 ETF -963.63 48,576.64 -1.98%
MTUM iShares MSCI USA Momentum Factor ETF -468.50 12,036.55 -3.89%
RSP Invesco S&P 500 Equal Weight ETF -463.69 15,255.78 -3.04%
XLV Health Care Select Sector SPDR Fund -390.16 24,078.66 -1.62%
SHY iShares 1-3 Year Treasury Bond ETF -379.90 20,437.67 -1.86%
XLK Technology Select Sector SPDR Fund -321.56 35,939.57 -0.89%
IBB iShares NASDAQ Biotechnology ETF -298.74 9,255.14 -3.23%
SPYG SPDR Portfolio S&P 500 Growth ETF -235.48 9,590.53 -2.46%

 

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 6,706.91 2,895,742.94 0.23%
International Equity 5,115.59 960,131.12 0.53%
U.S. Fixed Income 5,864.16 951,535.09 0.62%
International Fixed Income 1,229.74 117,420.48 1.05%
Commodities -1,926.20 143,849.21 -1.34%
Currency -70.19 1,515.45 -4.63%
Leveraged -111.11 39,576.72 -0.28%
Inverse 116.27 12,106.22 0.96%
Asset Allocation 94.80 12,507.92 0.76%
Alternatives 28.86 5,140.51 0.56%
Total: 17,048.82 5,139,525.67 0.33%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 134,876.57 2,895,742.94 4.66%
International Equity 33,758.00 960,131.12 3.52%
U.S. Fixed Income 168,643.25 951,535.09 17.72%
International Fixed Income 20,108.25 117,420.48 17.12%
Commodities 42,848.52 143,849.21 29.79%
Currency 490.04 1,515.45 32.34%
Leveraged 930.98 39,576.72 2.35%
Inverse 13,155.39 12,106.22 108.67%
Asset Allocation 2,481.88 12,507.92 19.84%
Alternatives 113.35 5,140.51 2.21%
Total: 417,406.24 5,139,525.67 8.12%

 

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
XES SPDR S&P Oil & Gas Equipment & Services ETF 10.75% 458,566 99.86
OIH VanEck Vectors Oil Services ETF 10.34% 1,910,181 558.62
IEZ iShares U.S. Oil Equipment & Services ETF 9.79% 550,166 58.55
PXJ Invesco Dynamic Oil & Gas Services ETF 9.52% 198,440 7.31
NIB iPath Bloomberg Cocoa Subindex Total Return ETN 9.13% 229,299 13.04
JO iPath Series B Bloomberg Coffee Subindex Total Return ETN 8.93% 584,142 79.52
AMZA InfraCap MLP ETF 8.20% 515,890 129.43
GREK Global X MSCI Greece ETF 7.85% 228,937 134.17
PSCE Invesco S&P SmallCap Energy ETF 6.83% 519,125 17.85
AMJ JPMorgan Alerian MLP Index ETN 6.80% 4,813,998 1,605.42

 

Top 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
TAN Invesco Solar ETF 142.56% 1.45% 2,203.59
PBW Invesco WilderHill Clean Energy ETF 136.04% 6.25% 1,303.88
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund 129.29% 2.96% 1,168.23
ARKG ARK Genomic Revolution ETF 121.57% 0.24% 3,486.50
ARKW ARK Next Generation Internet ETF 109.95% 2.14% 3,517.49
KGRN KraneShares MSCI China Environment Index ETF 103.32% -0.80% 39.37
ARKK ARK Innovation ETF 101.84% 1.63% 11,401.32
XVZ iPath S&P 500 Dynamic VIX ETN 91.70% 1.89% 12.83
PBD Invesco Global Clean Energy ETF 90.72% 1.81% 162.42
ACES ALPS Clean Energy ETF 89.87% 2.32% 544.72

 

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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