Weekly ETF Flows See Net Loss of $4.2B

September 12, 2022

Investors pulled nearly $4.2 billion in assets out of U.S.-listed exchange-traded funds in the week ending Sept. 9, marking the second consecutive week of net outflows for the industry.  

Last week, U.S. stocks recovered some of their decline, as both the S&P 500 and the Nasdaq-100 indexes added nearly 4% despite the Federal Reserve’s hawkish messaging. While the market may have rejoiced at the break of nearly three consecutive weeks of declines, equity-focused ETFs saw $3.7 billion in outflows in the week ending Sept. 9.  

Top shedders included the SPDR Portfolio S&P 500 Growth ETF (SPYG), which recorded just over $1 billion in outflows, the technology focused Invesco QQQ Trust (QQQ) and the iShares S&P 500 Value ETF (IVE).  

Meanwhile, flows into U.S. fixed income markets remained strong, seeing $2.7 billion of inflows, up nearly 80% from the week prior. ETFs focused on Treasury bills and high yield bonds took center stage as investors attempted to rebalance their portfolios amid heightened fear of recession. 

“Markets latched on to this view that this is peak inflation. In terms of flows, people use quite simply what’s been a pretty pronounced recovery to de-risk,” said Doug Fincher, portfolio manager at Ionic Capital Management.  

He added that all eyes will remain on the hotly anticipated consumer price index that is set to release tomorrow, as well as the announcement of the central bank’s next rate hike on Sept. 21 as indicators for future flows.  

Hours ago, the NY Federal Reserve showed that U.S. consumer inflation expectations for August slid to 5.7%, down from the expected 6.2%, according to data platform Trading Economics. Meanwhile, last Thursday, Federal Reserve Chair Jerome Powell emphasized the central bank’s commitment to battle decades-high inflation.  

“I can assure you that my colleagues and I are strongly committed to this project and we will keep at it until the job is done,” Powell said in a Q&A session presented by the Cato Institute, leading investors to expect yet another 75 basis point hike next week.  

 

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
SHV iShares Short Treasury Bond ETF 1,897.99 22,731.29 8.35%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF 982.85 20,230.27 4.86%
VOO Vanguard S&P 500 ETF 738.60 268,454.49 0.28%
IVV iShares Core S&P 500 ETF 563.11 300,399.17 0.19%
VTI Vanguard Total Stock Market ETF 467.21 265,391.42 0.18%
USMV iShares MSCI USA Min Vol Factor ETF 414.72 28,749.92 1.44%
SHY iShares 1-3 Year Treasury Bond ETF 345.31 25,788.87 1.34%
VXUS Vanguard Total International Stock ETF 334.58 46,367.99 0.72%
SPTL SPDR Portfolio Long Term Treasury ETF 333.69 5,559.41 6.00%
VTEB Vanguard Tax-Exempt Bond ETF 281.36 18,358.33 1.53%

 

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
QQQ Invesco QQQ Trust -1,455.21 163,786.67 -0.89%
SPYG SPDR Portfolio S&P 500 Growth ETF -1,007.12 13,617.48 -7.40%
XLF Financial Select Sector SPDR Fund -925.26 33,036.30 -2.80%
ACWI iShares MSCI ACWI ETF -909.82 16,384.99 -5.55%
EEM iShares MSCI Emerging Markets ETF -660.16 24,102.43 -2.74%
XLE Energy Select Sector SPDR Fund -593.43 36,323.13 -1.63%
IJS iShares S&P Small-Cap 600 Value ETF -428.33 6,787.84 -6.31%
IJT iShares S&P Small-Cap 600 Growth ETF -403.09 5,183.03 -7.78%
BSV Vanguard Short-Term Bond ETF -403.01 38,469.51 -1.05%
IVE iShares S&P 500 Value ETF -387.85 23,869.67 -1.62%

 

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity -3,700.75 3,875,651.90 -0.10%
International Equity -1,723.42 1,089,560.11 -0.16%
U.S. Fixed Income 2,738.09 1,104,445.46 0.25%
International Fixed Income 56.00 138,182.10 0.04%
Commodities -1,049.70 135,287.61 -0.78%
Currency -236.31 4,074.47 -5.80%
Leveraged 126.84 48,519.87 0.26%
Inverse -480.74 24,750.23 -1.94%
Asset Allocation -4.20 16,717.64 -0.03%
Alternatives 94.48 8,343.69 1.13%
Total: -4,179.73 6,445,533.08 -0.06%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 167,557.80 3,875,651.90 4.32%
International Equity 63,968.14 1,089,560.11 5.87%
U.S. Fixed Income 108,904.75 1,104,445.46 9.86%
International Fixed Income 6,009.26 138,182.10 4.35%
Commodities 4,762.75 135,287.61 3.52%
Currency 1,612.21 4,074.47 39.57%
Leveraged 18,117.63 48,519.87 37.34%
Inverse 11,313.12 24,750.23 45.71%
Asset Allocation 318.72 16,717.64 1.91%
Alternatives 1,818.18 8,343.69 21.79%
Total: 384,382.55 6,445,533.08 5.96%

 

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
CTEX ProShares S&P Kensho Cleantech ETF 6.29% 12,034 6.77
TAN Invesco Solar ETF 6.16% 4,845,177 3,097.76
VCLN Virtus Duff & Phelps Clean Energy ETF 5.89% 1,080 3.83
CRPT First Trust SkyBridge Crypto Industry and Digital Economy ETF 5.51% 18,790 26.89
XDNA Kelly CRISPR & Gene Editing Technology ETF 5.48% 9,704 6.64
CTEC Global X CleanTech ETF 5.18% 55,322 128.95
CNRG SPDR S&P Kensho Clean Power ETF 4.98% 41,810 363.50
ACES ALPS Clean Energy ETF 4.87% 100,071 844.65
ICLN iShares Global Clean Energy ETF 4.85% 12,478,289 5,815.58
FRNW Fidelity Clean Energy ETF 4.76% 31,528 41.51

 

Top 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
TADS The Active Dividend Stock ETF 17.40% 0.00% 41.51
NVMZ TrueShares Structured Outcome ETF - November 14.66%   41.51
SULR SmartETFs Sustainable Energy II ETF 8.64%   41.51
HGER Harbor All-Weather Inflation Focus ETF   -1.19% 63.29
VEGA AdvisorShares STAR Global Buy-Write ETF   1.36% 38.29
DBV Invesco DB G10 Currency Harvest Fund   0.54% 37.17
HDG ProShares Hedge Replication ETF   0.48% 41.32
WTMF WisdomTree Managed Futures Strategy Fund   0.49% 141.42
QMN IQ Hedge Market Neutral Tracker ETF   0.32% 7.61
FTLS First Trust Long/Short Equity ETF   1.09% 512.47

 

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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