ETFs Lose $8B As Equities Suffer

Mar 28, 2022

Reviewed by: Dan Mika

Edited by: Dan Mika

U.S.-listed ETFs saw $8 billion in outflows in the week ended March 25, marking the first weekly outflows since late September 2021. The losses were driven primarily by the usually dominant U.S. equity asset class suffering a $14.1 billion net loss in its worst week so far this year.

The U.S. ETF industry has garnered $174.9 billion in net assets year-to-date and manages just over $7 billion in assets as of the end of trading Friday.

Bonds Break Out

Hawkish comments from the Fed sent billions into the short and long ends of the maturity curve for treasury ETFs, with the iShares 20+ Year Treasury Bond ETF (TLT) and the iShares Short Treasury Bond ETF (SHV) leading all ETFs, with inflows of $2.6 billion and $1.06 billion, respectively.

The iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD) and the Vanguard Total Bond Market (BND) added $737 million and $636 million, respectively, to round out fixed income funds in the top 10.

The Invesco QQQ Trust (QQQ) was the largest equity ETF to gain in the week, with a $988.4 million haul, while the SPDR S&P 500 ETF Trust (SPY) added $671.5 million.

The SPDR Gold Trust (GLD) returned to the top 10 last week, with a $671 million inflow.

Vanguard Funds Take Individual Outflows

The iShares iBoxx USD High Yield Corporate Bond ETF (HYG) saw the largest outflows on the week by far, with a $2.6 billion loss, as Fed speakers last week signaled their intent to let expiring bonds on its gargantuan balance sheet roll off this year, meaning pandemic-era support for the corporate credit market is coming to an end.

Although Vanguard ended the week with a net inflow just shy of $1.8 billion, several of its largest ETFs saw the steepest outflows on the week among all U.S.-listed funds. Five Vanguard funds lost at least $1 billion each and a combined $8 billion during the period, with the Vanguard Total Stock Market ETF (VTI) losing approximately $1.8 billion.

For a full list of last week’s top inflows and outflows, see the tables below:

Top 10 Creations (All ETFs)

Ticker	Name	Net Flows ($,mm)	AUM ($, mm)	AUM % Change
TLT	iShares 20+ Year Treasury Bond ETF	2,613.90	19,377.28	13.49%
SHV	iShares Short Treasury Bond ETF	1,064.85	16,731.39	6.36%
QQQ	Invesco QQQ Trust	988.38	189,536.93	0.52%
LQD	iShares iBoxx USD Investment Grade Corporate Bond ETF	737.18	34,314.94	2.15%
IEMG	iShares Core MSCI Emerging Markets ETF	733.96	73,061.96	1.00%
XLF	Financial Select Sector SPDR Fund	722.55	46,715.77	1.55%
XLV	Health Care Select Sector SPDR Fund	707.86	36,883.96	1.92%
SPY	SPDR S&P 500 ETF Trust	671.51	411,047.76	0.16%
GLD	SPDR Gold Trust	670.99	69,052.74	0.97%
BND	Vanguard Total Bond Market ETF	636.26	80,723.62	0.79%

Top 10 Redemptions (All ETFs)

Ticker	Name	Net Flows ($,mm)	AUM ($, mm)	AUM % Change
HYG	iShares iBoxx USD High Yield Corporate Bond ETF	-2,624.32	14,484.88	-18.12%
VTI	Vanguard Total Stock Market ETF	-1,837.65	289,728.23	-0.63%
DVY	iShares Select Dividend ETF	-1,794.64	21,766.20	-8.25%
VIG	Vanguard Dividend Appreciation ETF	-1,794.25	65,994.47	-2.72%
VB	Vanguard Small-Cap ETF	-1,615.11	47,531.95	-3.40%
VO	Vanguard Mid-Cap ETF	-1,602.92	54,456.62	-2.94%
RSP	Invesco S&P 500 Equal Weight ETF	-1,391.47	33,519.14	-4.15%
VBR	Vanguard Small-Cap Value ETF	-1,216.72	26,453.26	-4.60%
MOAT	VanEck Morningstar Wide Moat ETF	-1,198.13	7,202.36	-16.64%
RDVY	First Trust Rising Dividend Achievers ETF	-962.28	9,832.06	-9.79%

ETF Weekly Flows By Asset Class

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	-14,109.02	4,232,236.91	-0.33%
International Equity	1,125.73	1,269,054.42	0.09%
U.S. Fixed Income	2,166.73	1,063,970.70	0.20%
International Fixed Income	465.99	157,568.27	0.30%
Commodities	1,389.27	172,953.24	0.80%
Currency	52.39	3,440.84	1.52%
Leveraged	-289.27	67,123.47	-0.43%
Inverse	983.05	16,481.96	5.96%
Asset Allocation	-6.25	19,721.83	-0.03%
Alternatives	99.07	7,367.40	1.34%
Total:	-8,122.30	7,009,919.03	-0.12%

Asset Classes (Year-to-Date)

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	83,493.70	4,232,236.91	1.97%
International Equity	43,163.73	1,269,054.42	3.40%
U.S. Fixed Income	10,219.58	1,063,970.70	0.96%
International Fixed Income	7,562.83	157,568.27	4.80%
Commodities	18,665.22	172,953.24	10.79%
Currency	352.74	3,440.84	10.25%
Leveraged	6,605.75	67,123.47	9.84%
Inverse	4,100.38	16,481.96	24.88%
Asset Allocation	531.79	19,721.83	2.70%
Alternatives	269.16	7,367.40	3.65%
Total:	174,964.88	7,009,919.03	2.50%

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

Ticker	Name	Weekly Performance	Weekly Volume	AUM ($, mm)
GLOV	Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF	42,017,900.00%	8,663,206	235.03
USFR	WisdomTree Floating Rate Treasury Fund	100.16%	3,353,894	2,799.40
JJN	iPath Series B Bloomberg Nickel Subindex Total Return ETN	35.19%	608,629	89.02
POTX	Global X Cannabis ETF	12.83%	523,045	89.42
BUDX	Cannabis Growth ETF	11.22%	4,135	3.58
BITQ	Bitwise Crypto Industry Innovators ETF	10.81%	442,543	128.17
MJ	ETFMG Alternative Harvest ETF	10.81%	6,281,800	727.81
BKCH	Global X Blockchain ETF	10.12%	664,499	121.38
DAPP	VanEck Digital Transformation ETF	9.72%	598,409	63.69
DAM	VanEck Digital Assets Mining ETF	9.36%	11,630	2.18

Top 10 YTD Performers

Ticker	Name	YTD Performance	Weekly Performance	AUM ($, mm)
GLDM	SPDR Gold MiniShares Trust	107.70%		5,218.23
USFR	WisdomTree Floating Rate Treasury Fund	100.48%	100.16%	2,799.40
JJN	iPath Series B Bloomberg Nickel Subindex Total Return ETN	64.96%	35.19%	89.02
BNO	United States Brent Oil Fund LP	60.11%	1.37%	310.51
RJN	Elements Rogers International Commodity Index-Energy TR ETN	59.09%	4.23%	15.83
JJE	iPath Series B Bloomberg Energy Subindex Total Return ETN	55.74%	3.71%	6.92
OIH	VanEck Oil Services ETF	52.61%	1.65%	3,822.58
OIL	iPath Pure Beta Crude Oil ETN	52.17%	0.81%	197.17
GSP	iPath S&P GSCI Total Return Index ETN	51.49%	1.88%	49.11
USO	United States Oil Fund LP	50.75%	0.26%	3,595.15

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.

Dan Mika

Dan Mika is a reporter for etf.com. He has previously covered business for the Ames Tribune and Cedar Rapids Gazette in Iowa, and BizWest Media in Fort Collins, Colorado. Dan holds a bachelor's degree in journalism from Truman State University.

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ETFs Lose $8B As Equities Suffer

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