Fixed Income ETFs Top Weekly Inflows

July 18, 2022

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.

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