ETFs Notch Small Gain Despite Market Uptick

November 28, 2022

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.

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