Monster Month For New ETF Assets

Nov. shaping up to be one of the biggest months for new assets in U.S.-listed ETFs.

DrewVoros_200x200.png
|
Editor-in-Chief
|
Reviewed by: Drew Voros
,
Edited by: Drew Voros

With the end of November just a few days away, it is safe to say this month is approaching one of the biggest months ever for new assets flowing into U.S.-listed ETFs.

For the week ending Thursday, Nov. 26, more than $17 billion of ETF inflows registered, taking the month’s total to more than $80 billion, with $90 billion a realistic possibility. And for the year, the total now tops $430 billion, well within striking distance of 2017’s annual record of $475 billion.

Despite the tumultuous past weeks that included market volatility, the election of Joe Biden as president, a worldwide spike in COVID-19 cases while at the same time announcements that vaccines are now weeks away, investors continue to invest heavily in U.S. equities, with $7.8 billion of new inflows, led by the Vanguard Total Stock Market ETF (VTI) seeing the highest demand, with $1.1 billion of new investor funds.  

Ironically or not, SPDR S&P 500 ETF Trust (SPY) led outflows, with $2.7 billion. The $323 billion fund typically is used more and more as a trading tool in volatile markets because of its high liquidity, and this may be an example of that. No other large broad-based equity fund landed on the top outflows list.

For most of the year, demand for U.S. fixed income ETFs has outpaced U.S. equities by close to a 2-1 margin. However, over the last few weeks as bond yields have risen, and price fell, investors have been favoring U.S. equities more. Year-to-date, U.S. fixed income ETFs has attracted  more than $170 billion in new assets, compared to $142 billion for U.S. equities.

Fixed Income A Mixed Bag

U.S. fixed income ETFs were represented in the top inflows, with iShares Core U.S. Aggregate Bond ETF (AGG) seeing more than $1 billion, the iShares 1-5 Year Investment Grade Corporate Bond ETF (IGSB) adding $800 million and iShares Boxx USD Investment Grade Corporate Bond ETF (LQD) getting $738 million.

On the outflows side of the coin, iShares 7-10 Year Treasury Bond ETF (IEF) had $1.9 billion in assets exit, along with iShares Short Treasury Bond ETF (SHV) and iShares 20+ Year Treasury Bond ETF (TLT) seeing $487 million and $334 million, respectively.

Gold & Silver Selloff

Commodities was the lone asset class to register a net outflow, with the bulk of the $1.95 billion out lows coming from SPDR Gold Trust (GLD) and iShares Silver Trust (SLV) with $1.4 billion and $478 million, respectively. Gold and silver prices have been falling in the face of rising bond rates.

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 1,125.71 189,219.55 0.59%
AGG iShares Core U.S. Aggregate Bond ETF 1,003.64 82,974.73 1.21%
IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF 799.61 21,624.03 3.70%
LQD iShares iBoxx USD Investment Grade Corporate Bond ETF 738.72 58,013.18 1.27%
XLF Financial Select Sector SPDR Fund 736.43 22,585.33 3.26%
QQQ Invesco QQQ Trust 726.67 141,389.43 0.51%
EWJ iShares MSCI Japan ETF 723.15 12,626.38 5.73%
IWM iShares Russell 2000 ETF 710.98 51,310.32 1.39%
VXUS Vanguard Total International Stock ETF 652.08 34,859.18 1.87%
VOO Vanguard S&P 500 ETF 625.56 177,529.83 0.35%

 

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 ETF Trust -2,780.10 323,767.53 -0.86%
IEF iShares 7-10 Year Treasury Bond ETF -1,902.85 16,317.21 -11.66%
GLD SPDR Gold Trust -1,435.01 69,109.08 -2.08%
SPYG SPDR Portfolio S&P 500 Growth ETF -570.35 9,200.56 -6.20%
USMV iShares MSCI USA Min Vol Factor ETF -551.87 33,819.91 -1.63%
SHV iShares Short Treasury Bond ETF -487.00 18,993.15 -2.56%
SLV iShares Silver Trust -477.90 12,623.04 -3.79%
TLT iShares 20+ Year Treasury Bond ETF -334.96 18,046.40 -1.86%
IBB iShares NASDAQ Biotechnology ETF -297.78 9,168.73 -3.25%
XLK Technology Select Sector SPDR Fund -229.24 36,240.56 -0.63%

 

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 7,787.44 2,973,565.55 0.26%
International Equity 6,179.07 980,759.91 0.63%
U.S. Fixed Income 3,812.00 955,144.36 0.40%
International Fixed Income 847.21 118,094.17 0.72%
Commodities -1,947.23 137,134.70 -1.42%
Currency 5.57 1,834.33 0.30%
Leveraged 234.03 40,930.51 0.57%
Inverse 178.07 12,008.09 1.48%
Asset Allocation 78.74 12,848.44 0.61%
Alternatives 137.15 5,202.28 2.64%
Total: 17,312.05 5,237,522.35 0.33%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 142,054.78 2,973,565.55 4.78%
International Equity 38,897.10 980,759.91 3.97%
U.S. Fixed Income 170,229.65 955,144.36 17.82%
International Fixed Income 20,629.92 118,094.17 17.47%
Commodities 40,974.51 137,134.70 29.88%
Currency 486.69 1,834.33 26.53%
Leveraged 1,161.02 40,930.51 2.84%
Inverse 13,336.49 12,008.09 111.06%
Asset Allocation 2,627.34 12,848.44 20.45%
Alternatives 211.56 5,202.28 4.07%
Total: 430,609.06 5,237,522.35 8.22%

 

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
PSM Principal U.S. Small-MidCap Multi-Factor ETF 22.25% 1,100 11.47
XES SPDR S&P Oil & Gas Equipment & Services ETF 14.76% 549,636 119.31
FRAK VanEck Vectors Unconventional Oil & Gas ETF 14.17% 10,120 11.34
PXJ Invesco Dynamic Oil & Gas Services ETF 13.95% 334,340 8.50
OIH VanEck Vectors Oil Services ETF 13.80% 2,357,224 664.75
XOP SPDR S&P Oil & Gas Exploration & Production ETF 13.41% 36,443,066 2,378.21
FCG First Trust Natural Gas ETF 13.40% 4,070,046 115.17
RYE Invesco S&P 500 Equal Weight Energy ETF 13.26% 286,438 60.86
PXI Invesco DWA Energy Momentum ETF 13.05% 49,669 19.26
IEZ iShares U.S. Oil Equipment & Services ETF 12.92% 988,069 66.63

 

Top 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
PBW Invesco WilderHill Clean Energy ETF 171.03% 10.78% 1,641.27
TAN Invesco Solar ETF 169.58% 8.95% 2,508.55
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund 156.47% 8.79% 1,490.25
ARKW ARK Next Generation Internet ETF 124.36% 4.09% 3,902.66
ARKG ARK Genomic Revolution ETF 122.91% -0.49% 3,658.81
KGRN KraneShares MSCI China Environment Index ETF 119.52% 6.68% 46.43
ARKK ARK Innovation ETF 112.07% 2.79% 12,255.69
ACES ALPS Clean Energy ETF 108.92% 7.64% 602.73
CNRG SPDR S&P Kensho Clean Power ETF 107.93% 8.75% 143.18
PBD Invesco Global Clean Energy ETF 107.45% 6.80% 186.00

 

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.

Drew Voros has nearly 30 years' experience in financial journalism. He was a longtime business editor for the Oakland Tribune and sister papers of the Bay Area News Group, and finance writer for the Hollywood trade publication Variety. Voros' past roles have also included editor-in-chief at etf.com and ETF Report.