Fixed Income ETFs Top Weekly Inflows

Jul 18, 2022

Reviewed by: Sumit Roy

Edited by: Sumit Roy

Investors continued to tiptoe into U.S.-listed ETFs last week, and they were particularly fond of U.S. fixed income ETFs. On net, $7.6 billion flowed into ETFs during the week ending July 15. Of that amount, over 90%—$6.9 billion—went into U.S. fixed income ETFs, followed by $872 million going into U.S. equity ETFs and $768 million allocated to international equity ETFs.

On the other hand, investors pulled $1.4 billion and $473 million, respectively, out of commodity and international fixed income ETFs.

After accounting for last week’s flows, year-to-date inflows now stand at $318.8 billion, and total assets under management in all U.S.-listed ETFs stands at $6.2 trillion. That compares with $498.1 billion and $6.57 trillion, respectively, at the same time a year ago.

‘GOVT’ Tops Inflows

Taking a look at individual funds, the iShares U.S. Treasury Bond ETF (GOVT) topped all ETFs, with weekly inflows of $2.4 billion. The fund tracks the entire fixed-rate Treasury bond market excluding those securities with maturities of less than a year.

Treasuries were a mixed bag last week. Yields on longer maturities stayed near recent lows amid recession fears, while those on shorter maturities continued to edge up in anticipation of aggressive Fed hikes in the coming months (bond prices and yields move inversely).

The iShares 10-20 Year Treasury Bond ETF (TLH), the iShares 20+ Year Treasury Bond ETF (TLT) and the Schwab Short-Term U.S. Treasury ETF (SCHO) were three other Treasury-focused ETFs that found themselves on the weekly top 10 list.

GLD Flows Sag With Gold Prices

Meanwhile, on the outflows side of the ledger, the SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) topped the list, with redemptions of $1.4 billion.

It was followed by the SPDR S&P 500 ETF Trust (SPY) and the iShares Russell 2000 ETF (IWM), which had outflows of $1 billion apiece.

The S&P 500 stayed within its range last week, fluctuating between 3,800 on the downside and 3,900 on the upside.

The SPDR Gold Trust (GLD) also made an appearance on the weekly top outflows list. Investors pulled nearly $500 million out of the fund as spot gold prices dipped to $1,700/oz, the lowest level since March 2020.

A sharp rally in the U.S. dollar to 20-year highs has taken a toll on gold.

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

Top 10 Creations (All ETFs)

Ticker	Name	Net Flows ($,mm)	AUM ($, mm)	AUM % Change
GOVT	iShares U.S. Treasury Bond ETF	2,406.51	20,289.06	11.86%
QQQ	Invesco QQQ Trust	2,187.81	158,724.26	1.38%
TLH	iShares 10-20 Year Treasury Bond ETF	1,984.09	4,379.60	45.30%
VCIT	Vanguard Intermediate-Term Corporate Bond ETF	981.52	41,158.93	2.38%
TLT	iShares 20+ Year Treasury Bond ETF	967.56	21,877.28	4.42%
VOO	Vanguard S&P 500 ETF	955.72	247,072.24	0.39%
SCHO	Schwab Short-Term U.S. Treasury ETF	902.93	9,793.74	9.22%
JNK	SPDR Bloomberg High Yield Bond ETF	586.58	6,743.43	8.70%
XLV	Health Care Select Sector SPDR Fund	564.52	37,990.65	1.49%
VTI	Vanguard Total Stock Market ETF	528.69	245,859.06	0.22%

Top 10 Redemptions (All ETFs)

Ticker	Name	Net Flows ($,mm)	AUM ($, mm)	AUM % Change
BIL	SPDR Bloomberg 1-3 Month T-Bill ETF	-1,435.07	19,364.29	-7.41%
SPY	SPDR S&P 500 ETF Trust	-1,005.50	342,458.70	-0.29%
IWM	iShares Russell 2000 ETF	-1,001.42	49,303.20	-2.03%
XLF	Financial Select Sector SPDR Fund	-965.42	27,301.35	-3.54%
VB	Vanguard Small-Cap ETF	-794.60	38,155.44	-2.08%
HYG	iShares iBoxx USD High Yield Corporate Bond ETF	-614.70	13,610.09	-4.52%
XLY	Consumer Discretionary Select Sector SPDR Fund	-563.33	13,727.41	-4.10%
GLD	SPDR Gold Trust	-497.53	55,451.00	-0.90%
USFR	WisdomTree Floating Rate Treasury Fund	-412.06	7,143.77	-5.77%
VTIP	Vanguard Short-Term Inflation-Protected Securities ETF	-395.95	20,449.88	-1.94%

ETF Weekly Flows By Asset Class

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	872.13	3,616,887.73	0.02%
International Equity	767.62	1,070,990.71	0.07%
U.S. Fixed Income	6,887.43	1,087,953.06	0.63%
International Fixed Income	-472.89	136,236.56	-0.35%
Commodities	-1,411.46	139,715.94	-1.01%
Currency	149.03	4,074.49	3.66%
Leveraged	-33.61	43,280.06	-0.08%
Inverse	784.79	23,543.71	3.33%
Asset Allocation	27.38	17,124.31	0.16%
Alternatives	10.37	7,752.09	0.13%
Total:	7,580.79	6,147,558.64	0.12%

Asset Classes (Year-to-Date)

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	128,328.82	3,616,887.73	3.55%
International Equity	66,277.57	1,070,990.71	6.19%
U.S. Fixed Income	80,013.95	1,087,953.06	7.35%
International Fixed Income	3,710.20	136,236.56	2.72%
Commodities	10,046.51	139,715.94	7.19%
Currency	1,594.88	4,074.49	39.14%
Leveraged	18,577.61	43,280.06	42.92%
Inverse	8,360.56	23,543.71	35.51%
Asset Allocation	749.72	17,124.31	4.38%
Alternatives	1,164.73	7,752.09	15.02%
Total:	318,824.55	6,147,558.64	5.19%

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

Ticker	Name	Weekly Performance	Weekly Volume	AUM ($, mm)
MSOS	AdvisorShares Pure US Cannabis ETF	8.97%	6,046,167	592.15
YOLO	AdvisorShares Pure Cannabis ETF	7.25%	184,495	78.37
PBUG	Pacer iPath Gold Trendpilot ETN	6.92%	3,118	22.25
WEED	Roundhill Cannabis ETF	6.41%	6,788	1.47
MJUS	ETFMG U.S. Alternative Harvest ETF	5.76%	23,069	2.39
GBUG	Pacer iPath Gold ETN	5.61%	7,556	33.85
XDNA	Kelly CRISPR & Gene Editing Technology ETF	4.95%	19,558	1.20
SBUG	iPath Silver ETN	4.76%	5,812	10.64
CNBS	Amplify Seymour Cannabis ETF	4.00%	92,093	43.79
MJ	ETFMG Alternative Harvest ETF	3.33%	4,064,115	390.10

Top 10 YTD Performers

Ticker	Name	YTD Performance	Weekly Performance	AUM ($, mm)
UNG	United States Natural Gas Fund LP	81.75%	3.04%	473.52
GAZ	iPath Series B Bloomberg Natural Gas Subindex Total Return ETN	80.27%	2.50%	24.04
UNL	United States 12 Month Natural Gas Fund LP	75.76%	3.10%	38.84
JJE	iPath Series B Bloomberg Energy Subindex Total Return ETN	55.60%	-2.09%	7.54
RJN	Elements Rogers International Commodity Index-Energy TR ETN	55.30%	-4.21%	12.45
PFIX	Simplify Interest Rate Hedge ETF	49.39%	-2.82%	293.74
UGA	United States Gasoline Fund LP	48.65%	-8.09%	119.01
BNO	United States Brent Oil Fund LP	42.71%	-6.52%	221.26
DBE	Invesco DB Energy Fund	41.51%	-5.59%	234.10
USO	United States Oil Fund LP	34.01%	-6.88%	2,381.02

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.

Sumit Roy

| Contact: [email protected]

Sumit Roy is the senior ETF analyst for etf.com, where he's worked for 12 years. Before joining the company, Roy was the managing editor and commodities analyst for Hard Assets Investor. He lives in the San Francisco Bay Area, where he enjoys climbing the city’s steep hills, playing pickleball and snowboarding.

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Fixed Income ETFs Top Weekly Inflows

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