Investors Add Money To ETFs Despite Market Turbulence

May 16, 2022

Investors added money to ETFs last week despite continued turbulence in financial markets. On net, $7.6 billion flowed into U.S.-listed ETFs during the week ending Friday, May 13. That brought year-to-date inflows up to $203.3 billion, below the $356.3 billion seen at this same time a year ago.

Though less than the year-ago level, 2022's ETF inflows have been impressive in the context of a dismal year for financial asset prices. As of last Friday, the SPDR S&P 500 ETF Trust (SPY) was down by 15.2% for the year, while the iShares Core U.S. Aggregate Bond ETF (AGG) was lower by 9.6%.

Rather than heading for the hills, investors have been taking the opportunity to buy cheaper stocks and bonds, even as the pace of inflows is slower than last year, which was a record year for inflows. 

This week, the bulk of the inflows headed into U.S. fixed income ETFs. In particular, short-term bond ETFs, which have relatively little interest rate risk, were in demand. The Vanguard Short-Term Bond ETF (BSV) and the iShares Short Treasury Bond ETF (SHV) picked up $3 billion and $1.5 billion, respectively, during the week. In total, U.S. fixed income ETFs gathered $10.5 billion in the period.

Treasury bond prices pulled back from their recent highs last week, with the 10-year yield falling from 3.13% to 2.9%. 

Meanwhile, U.S. equity ETFs tumbled, with the S&P 500 getting uncomforbtaly close to bear market territory, or down 20% from its highs. At its worst closing level on Thursday, the index was down by 18%. 

Still, that didn't stop investors from putting $626 million into U.S. equity ETFs. The iShares Russell 2000 ETF (IWM) was the top asset gainer in the category during the week.

On the other side of the ledger, the SPDR Gold Trust (GLD) topped the weekly outflows list, with redemptions of $1.6 billion. Gold prices sagged last week, giving up all of their gains for the year. 

 

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
BSV Vanguard Short-Term Bond ETF 2,979.34 39,792.43 7.49%
SHV iShares Short Treasury Bond ETF 1,498.62 19,278.19 7.77%
IWM iShares Russell 2000 ETF 1,335.33 51,729.87 2.58%
SPYD SPDR Portfolio S&P 500 High Dividend ETF 1,267.77 7,913.74 16.02%
VOO Vanguard S&P 500 ETF 1,177.90 245,332.38 0.48%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF 1,142.90 18,020.37 6.34%
MUB iShares National Muni Bond ETF 1,084.19 26,585.62 4.08%
SPY SPDR S&P 500 ETF Trust 961.62 353,370.60 0.27%
TLT iShares 20+ Year Treasury Bond ETF 918.09 19,485.62 4.71%
GOVT iShares U.S. Treasury Bond ETF 806.33 17,478.90 4.61%

 

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
GLD SPDR Gold Trust -1,560.76 62,355.36 -2.50%
VHT Vanguard Health Care ETF -896.39 15,096.76 -5.94%
XLF Financial Select Sector SPDR Fund -855.83 33,738.98 -2.54%
VLUE iShares MSCI USA Value Factor ETF -742.31 10,980.82 -6.76%
QQQ Invesco QQQ Trust -646.02 158,126.39 -0.41%
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF -563.82 11,455.90 -4.92%
VBR Vanguard Small-Cap Value ETF -550.57 22,862.60 -2.41%
SRLN SPDR Blackstone Senior Loan ETF -541.46 9,634.73 -5.62%
VGT Vanguard Information Technology ETF -521.22 40,792.87 -1.28%
VB Vanguard Small-Cap ETF -512.53 40,150.35 -1.28%

 

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 626.06 3,697,609.45 0.02%
International Equity -954.29 1,111,846.73 -0.09%
U.S. Fixed Income 10,504.79 1,060,850.80 0.99%
International Fixed Income -666.08 143,360.19 -0.46%
Commodities -2,189.59 161,738.56 -1.35%
Currency 241.07 4,002.32 6.02%
Leveraged 366.27 49,153.19 0.75%
Inverse -320.80 18,991.69 -1.69%
Asset Allocation -44.68 17,566.47 -0.25%
Alternatives 38.33 7,473.43 0.51%
Total: 7,601.08 6,272,592.83 0.12%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 70,577.66 3,697,609.45 1.91%
International Equity 53,520.18 1,111,846.73 4.81%
U.S. Fixed Income 36,956.73 1,060,850.80 3.48%
International Fixed Income 6,140.18 143,360.19 4.28%
Commodities 18,153.06 161,738.56 11.22%
Currency 1,202.46 4,002.32 30.04%
Leveraged 12,924.27 49,153.19 26.29%
Inverse 2,672.92 18,991.69 14.07%
Asset Allocation 690.01 17,566.47 3.93%
Alternatives 459.76 7,473.43 6.15%
Total: 203,297.23 6,272,592.83 3.24%

 

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
MLPO Credit Suisse S&P MLP Index ETN 15.01% 8,118 26.48
GAZ iPath Series B Bloomberg Natural Gas Subindex Total Return ETN 10.79% 234,113 28.79
UNG United States Natural Gas Fund LP 8.93% 35,831,360 512.47
WEAT Teucrium Wheat Fund 8.43% 29,486,959 604.80
UNL United States 12 Month Natural Gas Fund LP 8.10% 323,431 40.21
CHNA Loncar China BioPharma ETF 8.00% 1,317 5.02
SOGU The Short De-SPAC ETF 7.66% 370,163 26.52
KSTR KraneShares SSE Star Market 50 Index ETF 6.91% 94,615 54.32
KFVG KraneShares CICC China 5G & Semiconductor Index ETF 6.43% 17,085 18.39
GRU ELEMENTS Linked to ICE BofAML Commodity index eXtra Grains - Total Return ETN 5.71% 81,726 14.63

 

Top 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
RJN Elements Rogers International Commodity Index-Energy TR ETN 64.77% 4.82% 12.85
OILK ProShares K-1 Free Crude Oil Strategy ETF 44.08% 2.87% 92.29
GRU ELEMENTS Linked to ICE BofAML Commodity index eXtra Grains - Total Return ETN 37.00% 5.71% 14.63
MLPO Credit Suisse S&P MLP Index ETN 35.52% 15.01% 26.48
VIXY ProShares VIX Short-Term Futures ETF 35.20% -5.87% 348.28
RJI Elements Rogers International Commodity Index-Total Return ETN 31.40% 2.25% 155.63
FUE ELEMENTS Linked to the ICE BofAML Commodity Index eXtra Biofuels - Total Return ETN 26.00% 2.16% 2.41
RJA Elements Rogers International Commodity Index-Agriculture TR ETN 22.77% 2.71% 262.79
VIXM ProShares VIX Mid-Term Futures ETF 17.40% -2.31% 109.64
TADS The Active Dividend Stock ETF 17.40% 0.00% 109.64

 

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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