ETF Flows Undeterred By Market Mania

January 29, 2021

A few wobbles in the stock market didn't stop investors from adding to their ETF holdings this week. On net, almost $10 billion flowed into U.S.-listed ETFs during the week ending Thursday, Jan. 28, according to FactSet. That brings year-to-date inflows up to $65.5 billion, ahead of the $48.3 billion seen at this same time a year ago.

Investors were largely undeterred by the wild moves in GameStop, AMC and other meme stocks during the period. Fueled by immense buying by individual investors and hedge funds frantically covering their positions, those stocks dominated the financial news cycle for much of the week.

However, you wouldn't be able to tell that from this week's relatively ho-hum flows data, which suggests that things were business as usual for most investors.

About $950 million came out of U.S. equity ETFs, a modest sum. At the same time, $7.6 billion headed into international equity ETFs, including $981 million into the JPMorgan BetaBuilders Japan ETF (BBJP)  and $884 million into the JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX).

International equity ETFs have been the most popular segment of the year so far, with a haul of $34.7 billion, triple the take of U.S. equity ETFs. Some investors consider international equities a bargain compared to U.S. equities. Up until this month, the iShares Core MSCI EAFE ETF (IEFA) hadn't hit a new high since 2018, and the iShares Emerging Markets ETF (EEM) hadn't hit a new high since 2007.

That all changed in January 2021. Perhaps this marks the start of a new bull trend in international stocks. At least some investors seem to think so. 

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
SDY SPDR S&P Dividend ETF 1,306.88 18,391.59 7.11%
BBJP JPMorgan BetaBuilders Japan ETF 980.51 7,389.18 13.27%
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF 883.92 2,705.77 32.67%
VTI Vanguard Total Stock Market ETF 845.97 206,008.37 0.41%
BND Vanguard Total Bond Market ETF 690.83 70,276.21 0.98%
FXR First Trust Industrials/Producer Durables AlphaDEX Fund 659.09 1,139.64 57.83%
JPHY JPMorgan High Yield Research Enhanced ETF 528.87 1,023.07 51.69%
AGG iShares Core U.S. Aggregate Bond ETF 493.06 86,252.18 0.57%
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 464.21 3,104.06 14.95%
IUSB iShares Core Total USD Bond Market ETF 455.03 9,575.07 4.75%

 

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 ETF Trust -4,143.80 321,893.30 -1.29%
HYG iShares iBoxx USD High Yield Corporate Bond ETF -2,198.36 21,164.00 -10.39%
QUAL iShares MSCI USA Quality Factor ETF -1,230.65 19,797.52 -6.22%
IWM iShares Russell 2000 ETF -864.17 62,951.64 -1.37%
LQD iShares iBoxx USD Investment Grade Corporate Bond ETF -696.08 52,118.47 -1.34%
FDN First Trust Dow Jones Internet Index Fund -668.08 10,536.58 -6.34%
XRT SPDR S&P Retail ETF -630.95 237.36 -265.82%
USMV iShares MSCI USA Min Vol Factor ETF -574.89 30,108.74 -1.91%
XLF Financial Select Sector SPDR Fund -574.41 28,484.20 -2.02%
GLD SPDR Gold Trust -555.29 68,998.24 -0.80%

 

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity -946.59 3,142,873.46 -0.03%
International Equity 7,613.14 1,120,609.59 0.68%
U.S. Fixed Income 3,027.07 980,506.70 0.31%
International Fixed Income 1,090.50 126,983.85 0.86%
Commodities -811.46 141,626.14 -0.57%
Currency 0.61 1,998.74 0.03%
Leveraged -383.50 46,192.46 -0.83%
Inverse 186.36 11,880.56 1.57%
Asset Allocation 88.75 13,704.60 0.65%
Alternatives 90.93 6,322.74 1.44%
Total: 9,955.81 5,592,698.84 0.18%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 11,714.37 3,142,873.46 0.37%
International Equity 34,683.10 1,120,609.59 3.10%
U.S. Fixed Income 13,784.52 980,506.70 1.41%
International Fixed Income 3,842.13 126,983.85 3.03%
Commodities 259.65 141,626.14 0.18%
Currency 78.15 1,998.74 3.91%
Leveraged -1,293.30 46,192.46 -2.80%
Inverse 1,485.30 11,880.56 12.50%
Asset Allocation 369.37 13,704.60 2.70%
Alternatives 621.14 6,322.74 9.82%
Total: 65,544.44 5,592,698.84 1.17%

 

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
GAMR Wedbush ETFMG Video Game Tech ETF 25.84% 645,881 223.26
VIXY ProShares VIX Short-Term Futures ETF 23.55% 43,463,385 469.78
VXX iPath Series B S&P 500 VIX Short Term Futures ETN 23.48% 276,829,589 1,560.98
XRT SPDR S&P Retail ETF 21.85% 55,426,346 237.36
PSCD Invesco S&P SmallCap Consumer Discretionary ETF 14.36% 67,723 42.30
RWJ Invesco S&P SmallCap 600 Revenue ETF 13.50% 249,039 408.54
XSVM Invesco S&P SmallCap Value with Momentum ETF 11.63% 206,450 147.97
VXZ iPath Series B S&P 500 VIX Mid-Term Futures ETN 9.57% 132,985 44.82
VIXM ProShares VIX Mid-Term Futures ETF 9.20% 441,696 90.64
GAZ iPath Series B Bloomberg Natural Gas Subindex Total Return ETN 9.17% 12,856 4.07

 

Top 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
VFIN Simplify Volt Fintech Disruption ETF 6,900.00% -2.80% 3.59
POTX Global X Cannabis ETF 49.19% -0.20% 82.35
XRT SPDR S&P Retail ETF 41.84% 21.85% 237.36
GAMR Wedbush ETFMG Video Game Tech ETF 39.36% 25.84% 223.26
THCX The Cannabis ETF 35.44% -2.25% 92.54
MJ ETFMG Alternative Harvest ETF 35.26% -0.05% 1,467.07
CNBS Amplify Seymour Cannabis ETF 34.15% -1.27% 54.92
PSCD Invesco S&P SmallCap Consumer Discretionary ETF 33.11% 14.36% 42.30
RWJ Invesco S&P SmallCap 600 Revenue ETF 31.86% 13.50% 408.54
MOON Direxion Moonshot Innovators ETF 30.64% 6.36% 66.28

 

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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