Bond ETFs Drive $23B Of Inflows

November 12, 2021

U.S.-listed ETFs gained $22.6 billion in inflows in the period from Nov. 5 to Nov. 11, with fixed income inflows more than doubling week-over-week to offset a drop in equity inflows.

The U.S. ETF industry has now gained $761.7 million in year-to-date inflows, according to ETF.com data provider FactSet, and now has nearly $7.1 trillion in assets under management.

Broad Market Leads, Corporate Bonds Surge

Broad equity ETFs continued their dominant streak at the top of the highest-inflow ETFs on the week despite a higher than expected inflation reading on Wednesday.

The Vanguard S&P 500 ETF (VOO) led, with $1.6 billion in inflows, while the Invesco QQQ Trust (QQQ) followed, with $1.3 billion. The iShares Russell 2000 ETF (IWM), iShares Core S&P 500 ETF (IVV), Vanguard Total Stock Market ETF (VTI) and SPDR S&P 500 ETF Trust (SPY) gained a combined $3.5 billion on the week.

But three corporate bond ETFs appeared on the top 10 inflows chart this week with a combined $2.4 billion in new assets. The iShares iBoxx USD High Yield Corporate Bond ETF (HYG) and iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD) recovered from deep outflows last week to gain a combined $1.82 billion. While the -five-year breakeven inflation rate peaked past 3% this week, the bond market doesn’t appear to be that concerned over long-lasting inflation.

Tech Suffers

Technology-heavy ETFs took the brunt of the biggest outflows of the week, led by the Technology Select Sector SPDR Fund (XLK) losing $566 million and the ARK Innovation ETF (ARKK) losing nearly $506 million.

The latter was likely caused by Elon Musk selling 10% of his stake in Tesla after a majority of respondents to his Twitter poll last week told him to do it.

However, the spike in Treasury yields this week from the hot inflation print boded poorly for tech stocks, which tend to have higher valuations in low interest rate environments.

The VanEck Semiconductor ETF (SMH), Vanguard Information Technology ETF (VGT) and iShares Expanded Tech-Software Sector ETF (IGV) combined lost more than $1 billion during the period.

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
VOO Vanguard S&P 500 ETF 1,607.85 273,279.27 0.59%
QQQ Invesco QQQ Trust 1,306.13 207,517.42 0.63%
HYG iShares iBoxx USD High Yield Corporate Bond ETF 1,255.98 20,259.99 6.20%
NUGO Nuveen Growth Opportunities ETF 1,015.29 2,897.75 35.04%
IWM iShares Russell 2000 ETF 967.08 74,165.24 1.30%
IVV iShares Core S&P 500 ETF 913.02 321,393.98 0.28%
VTI Vanguard Total Stock Market ETF 857.18 288,247.87 0.30%
SPY SPDR S&P 500 ETF Trust 763.53 424,608.83 0.18%
JNK SPDR Bloomberg High Yield Bond ETF 609.36 9,298.89 6.55%
LQD iShares iBoxx USD Investment Grade Corporate Bond ETF 563.11 38,425.45 1.47%

 

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
XLK Technology Select Sector SPDR Fund -566.11 47,969.49 -1.18%
ARKK ARK Innovation ETF -505.96 20,817.39 -2.43%
XLE Energy Select Sector SPDR Fund -467.15 26,999.56 -1.73%
SMH VanEck Semiconductor ETF -388.75 6,667.29 -5.83%
VGT Vanguard Information Technology ETF -340.91 54,032.14 -0.63%
DIA SPDR Dow Jones Industrial Average ETF Trust -325.47 29,798.60 -1.09%
IGV iShares Expanded Tech-Software Sector ETF -287.37 6,357.18 -4.52%
SOXL Direxion Daily Semiconductor Bull 3X Shares -285.54 4,792.20 -5.96%
XOP SPDR S&P Oil & Gas Exploration & Production ETF -274.30 3,842.30 -7.14%
EWJ iShares MSCI Japan ETF -251.93 12,509.74 -2.01%

 

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 11,345.52 4,256,886.53 0.27%
International Equity 3,761.57 1,327,138.51 0.28%
U.S. Fixed Income 6,977.21 1,104,810.91 0.63%
International Fixed Income 777.17 150,939.63 0.51%
Commodities 185.49 142,009.55 0.13%
Currency 281.50 3,435.38 8.19%
Leveraged -807.91 72,637.61 -1.11%
Inverse 93.11 12,353.45 0.75%
Asset Allocation 104.18 19,624.24 0.53%
Alternatives -101.66 7,138.02 -1.42%
Total: 22,616.19 7,096,973.85 0.32%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 379,201.87 4,256,886.53 8.91%
International Equity 187,151.85 1,327,138.51 14.10%
U.S. Fixed Income 151,831.11 1,104,810.91 13.74%
International Fixed Income 30,830.88 150,939.63 20.43%
Commodities -3,446.37 142,009.55 -2.43%
Currency 1,701.60 3,435.38 49.53%
Leveraged -44.96 72,637.61 -0.06%
Inverse 6,532.58 12,353.45 52.88%
Asset Allocation 4,724.11 19,624.24 24.07%
Alternatives 3,221.10 7,138.02 45.13%
Total: 761,703.78 7,096,973.85 10.73%

 

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
BITO ProShares Bitcoin Strategy ETF 7.77% 25,107,005 1,437.49
BTF Valkyrie Bitcoin Strategy ETF 7.64% 1,827,726 62.65
BUDX Cannabis Growth ETF 7.50% 22,167 5.01
CHIR Global X MSCI China Real Estate ETF 6.84% 80,896 5.34
GRN iPath Series B Carbon ETN 5.78% 224,875 83.68
KCCA KraneShares California Carbon Allowance ETF 5.12% 342,730 3.67
KRBN KraneShares Global Carbon ETF 5.06% 1,832,987 1,191.69
SGDM Sprott Gold Miners ETF 5.05% 96,454 246.04
KEUA KraneShares European Carbon Allowance ETF 4.93% 5,808 67.01
POTX Global X Cannabis ETF 4.92% 1,311,564 123.00

 

Top 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
BDRY Breakwave Dry Bulk Shipping ETF 194.81% -1.52% 59.81
URNM North Shore Global Uranium Mining ETF 125.36% 1.02% 1,008.36
FCG First Trust Natural Gas ETF 109.95% -3.52% 533.48
JJT iPath Series B Bloomberg Tin Subindex Total Return ETN 107.74% -0.86% 16.62
PXE Invesco Dynamic Energy Exploration & Production ETF 105.93% -2.96% 146.28
GRN iPath Series B Carbon ETN 94.41% 5.78% 83.68
URA Global X Uranium ETF 90.50% 0.38% 1,503.22
PXI Invesco DWA Energy Momentum ETF 89.93% -3.45% 105.38
PSCE Invesco S&P SmallCap Energy ETF 87.03% -3.51% 152.93
XOP SPDR S&P Oil & Gas Exploration & Production ETF 83.47% -3.35% 3,842.30

 

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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