ETFs Notch Small Gain Despite Market Uptick

Nov 28, 2022

Reviewed by: Shubham Saharan

Edited by: Shubham Saharan

Exchange-traded funds were muted the week ending Nov. 25, dipping 59% last from the week prior despite a market rally.

The S&P 500 ended the week up 1.5%, while the Nasdaq composite climbed 0.7% after a stunted trading week. U.S.-based markets were closed on Thursday for Thanksgiving, followed by a shortened trading session on Friday. Equity-focused funds pulled in a meager $895 million, plunging from the $13 billion recorded the week prior.

Meanwhile, the yield on the 10-year Treasury bill was little –changed, at 3.72%. U.S. fixed income ETFs notched $5.9 billion in inflows, dropping 36% from the $9.2 billion seen in the week ending Nov. 18.

Still, fixed income funds appeared to be an investor favorite, as the iShares iBoxx USD High Yield Corporate Bond ETF (HYG), the iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD) and the Vanguard Short-Term Corporate Bond ETF (VCHS) brought in over $1.6 billion, according to ETF.com data.

Yet Federal Reserve officials are cautioning that financial markets may be underestimating the possibility that the central bank could be more aggressive in the coming year in order to curb inflation.

"We've got a ways to go to get restrictive," Federal Reserve Bank of St. Louis President James Bullard said in an interview with MarketWatch and Barrons on Monday. He went on to state that the regulatory agency’s target range could hit between 5% and 5.25% to be "sufficiently restrictive.” The fed funds rate currently sits between 3.75% and 4%.

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
SPY	SPDR S&P 500 ETF Trust	715.60	382,302.03	0.19%
HYG	iShares iBoxx USD High Yield Corporate Bond ETF	592.62	18,767.45	3.16%
LQD	iShares iBoxx USD Investment Grade Corporate Bond ETF	551.12	39,506.51	1.40%
VCSH	Vanguard Short-Term Corporate Bond ETF	464.36	41,345.84	1.12%
XLV	Health Care Select Sector SPDR Fund	458.61	42,131.84	1.09%
JNK	SPDR Bloomberg High Yield Bond ETF	434.06	9,753.70	4.45%
SCHD	Schwab U.S. Dividend Equity ETF	429.75	44,428.58	0.97%
JEPI	JPMorgan Equity Premium Income ETF	415.40	16,291.89	2.55%
MBB	iShares MBS ETF	343.40	23,303.39	1.47%
STIP	iShares 0-5 Year TIPS Bond ETF	339.20	12,926.41	2.62%

Top 10 Redemptions (All ETFs)

Ticker	Name	Net Flows ($,mm)	AUM ($, mm)	AUM % Change
VOO	Vanguard S&P 500 ETF	-4,095.07	274,523.51	-1.49%
SPLV	Invesco S&P 500 Low Volatility ETF	-572.64	10,518.57	-5.44%
VTI	Vanguard Total Stock Market ETF	-546.03	272,349.30	-0.20%
XOP	SPDR S&P Oil & Gas Exploration & Production ETF	-318.52	4,737.67	-6.72%
TQQQ	ProShares UltraPro QQQ	-274.49	12,343.65	-2.22%
IXG	iShares Global Financials ETF	-255.64	532.87	-47.97%
BIL	SPDR Bloomberg 1-3 Month T-Bill ETF	-233.53	26,219.57	-0.89%
VTV	Vanguard Value ETF	-166.86	105,611.75	-0.16%
SQQQ	ProShares UltraPro Short QQQ	-166.64	3,645.80	-4.57%
QQQ	Invesco QQQ Trust	-155.75	162,459.93	-0.10%

ETF Weekly Flows By Asset Class

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	895.34	4,028,766.79	0.02%
International Equity	3,556.04	1,150,891.83	0.31%
U.S. Fixed Income	5,868.22	1,153,569.86	0.51%
International Fixed Income	467.22	137,571.45	0.34%
Commodities	422.59	129,785.22	0.33%
Currency	-80.73	4,176.64	-1.93%
Leveraged	-286.88	51,681.60	-0.56%
Inverse	277.16	21,941.63	1.26%
Asset Allocation	62.78	16,701.86	0.38%
Alternatives	4.23	8,702.51	0.05%
Total:	11,185.96	6,703,789.40	0.17%

Asset Classes (Year-to-Date)

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	271,442.54	4,028,766.79	6.74%
International Equity	88,345.69	1,150,891.83	7.68%
U.S. Fixed Income	172,972.26	1,153,569.86	14.99%
International Fixed Income	6,140.32	137,571.45	4.46%
Commodities	-3,415.78	129,785.22	-2.63%
Currency	1,856.39	4,176.64	44.45%
Leveraged	20,187.82	51,681.60	39.06%
Inverse	8,359.72	21,941.63	38.10%
Asset Allocation	514.63	16,701.86	3.08%
Alternatives	2,359.39	8,702.51	27.11%
Total:	568,762.98	6,703,789.40	8.48%

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	31.78%	7,976	29.73
CRPT	First Trust SkyBridge Crypto Industry and Digital Economy ETF	8.26%	286,988	15.24
GAZ	iPath Series B Bloomberg Natural Gas Subindex Total Return ETN	8.20%	130,540	17.66
UNG	United States Natural Gas Fund LP	7.89%	17,545,311	556.02
WGMI	Valkyrie Bitcoin Miners ETF	7.88%	11,330	1.86
SGDJ	Sprott Junior Gold Miners ETF	7.75%	36,517	102.31
GDXJ	VanEck Junior Gold Miners ETF	6.79%	19,326,054	3,690.46
RIGZ	Viridi Bitcoin Miners ETF	6.51%	19,011	3.44
GOEX	Global X Gold Explorers ETF	6.50%	9,418	34.35
BTF	Valkyrie Bitcoin Strategy ETF	6.48%	608,014	18.89

Top 10 YTD Performers

Ticker	Name	YTD Performance	Weekly Performance	AUM ($, mm)
MLPO	Credit Suisse S&P MLP Index ETN	277.17%	31.78%	29.73
UNL	United States 12 Month Natural Gas Fund LP	98.71%	5.91%	36.09
GAZ	iPath Series B Bloomberg Natural Gas Subindex Total Return ETN	96.83%	8.20%	17.66
UNG	United States Natural Gas Fund LP	88.23%	7.89%	556.02
TUR	iShares MSCI Turkey ETF	79.88%	5.69%	349.67
PXE	Invesco Dynamic Energy Exploration & Production ETF	79.17%	2.11%	354.65
PFIX	Simplify Interest Rate Hedge ETF	74.34%	-2.35%	354.63
IEO	iShares U.S. Oil & Gas Exploration & Production ETF	72.90%	2.63%	1,239.94
FENY	Fidelity MSCI Energy Index ETF	71.58%	2.18%	1,755.57
XLE	Energy Select Sector SPDR Fund	71.31%	2.01%	43,820.09

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.

Shubham Saharan

| Contact: [email protected]

Shubham Saharan is a markets reporter at etf.com. Before joining the company, she reported for Bloomberg and the Financial Times. Saharan is a graduate of Barnard College of Columbia University.

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ETFs Notch Small Gain Despite Market Uptick

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