ETFs Pull in $8B Ahead of Fed Meeting

Most of the inflows stemmed from equity funds.  

ShubhamSaharan_white_bg
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Reviewed by: Shubham Saharan
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Edited by: Shubham Saharan

Investors poured nearly $8.5 billion into exchange-traded funds in the week ending Nov. 9 as robust economic data spelled an uncertain future for the Federal Reserve’s rate hike path.

The net inflows mark a reversal from the week prior, wherein ETFs posted nearly $2.9 billion in outflows.  

The S&P slid 3.4% during the week, while the Nasdaq slipped 4%. The downtick in both indices came as data released throughout the week revealed the producer price index beat analyst expectations, coming in at 0.3% for November, while a report from the Institute for Supply Management revealed continued growth in the U.S. service sector.  

As Fed officials come together later this week to discuss the next prospective rate hike, investors continue to parse through economic data to decipher how long interest rates will remain elevated.  

Still, investors piled $5.2 billion into U.S. equity funds, up from the $8.7 billion that left the asset class the week before. Top-performing funds included the SPDR S&P 500 ETF Trust (SPY), the Invesco QQQ Trust (QQQ) and the Vanguard S&P 500 ETF (VOO), which collectively pulled in over $2.7 billion, according to data from ETF.com.  

Meanwhile, U.S. fixed income funds brought in $1.8 billion, dropping 14% from the $2.1 billion haul from the week prior. Funds that saw the most traction included the iShares Core U.S. Aggregate Bond ETF (AGG) and the Vanguard Intermediate-Term Corporate Bond Index Fund ETF (VCIT).  

 

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 1,197.38 372,432.77 0.32%
QQQ Invesco QQQ Trust 940.50 157,294.79 0.60%
VOO Vanguard S&P 500 ETF 629.85 271,689.34 0.23%
AGG iShares Core U.S. Aggregate Bond ETF 583.51 82,423.43 0.71%
IWF iShares Russell 1000 Growth ETF 560.70 61,308.20 0.91%
VCIT Vanguard Intermediate-Term Corporate Bond Index Fund ETF 475.16 40,646.00 1.17%
SPYV SPDR Portfolio S&P 500 Value ETF 429.58 15,056.67 2.85%
STIP iShares 0-5 Year TIPS Bond ETF 429.32 13,439.30 3.19%
VTEB Vanguard Tax-Exempt Bond ETF 427.43 24,667.79 1.73%
SUB iShares Short-Term National Muni Bond ETF 400.98 10,454.27 3.84%

 

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
XLE Energy Select Sector SPDR Fund -702.40 39,408.15 -1.78%
IWM iShares Russell 2000 ETF -695.51 53,382.45 -1.30%
VTIP Vanguard Short-Term Inflation-Protected Securities ETF -675.03 16,722.03 -4.04%
HYG iShares iBoxx USD High Yield Corporate Bond ETF -657.09 18,100.62 -3.63%
TIP iShares TIPS Bond ETF -633.77 24,101.73 -2.63%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF -502.86 25,595.71 -1.96%
IGV iShares Expanded Tech-Software Sector ETF -493.72 4,311.10 -11.45%
JNK SPDR Bloomberg High Yield Bond ETF -476.45 9,663.86 -4.93%
SHV iShares Short Treasury Bond ETF -473.48 19,600.64 -2.42%
MDYG SPDR S&P 400 Mid Cap Growth ETF -408.90 1,629.18 -25.10%

 

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 5,216.76 3,960,525.63 0.13%
International Equity 708.50 1,165,047.99 0.06%
U.S. Fixed Income 1,786.80 1,169,656.57 0.15%
International Fixed Income 656.83 140,212.63 0.47%
Commodities -162.01 131,177.51 -0.12%
Currency -22.88 4,118.67 -0.56%
Leveraged 618.23 48,477.69 1.28%
Inverse -667.82 22,511.48 -2.97%
Asset Allocation 234.18 17,098.26 1.37%
Alternatives 82.25 8,691.35 0.95%
Total: 8,450.84 6,667,517.78 0.13%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 268,061.43 3,960,525.63 6.77%
International Equity 90,851.96 1,165,047.99 7.80%
U.S. Fixed Income 176,834.92 1,169,656.57 15.12%
International Fixed Income 7,358.61 140,212.63 5.25%
Commodities -4,038.58 131,177.51 -3.08%
Currency 1,807.56 4,118.67 43.89%
Leveraged 20,464.60 48,477.69 42.21%
Inverse 9,718.32 22,511.48 43.17%
Asset Allocation 929.66 17,098.26 5.44%
Alternatives 2,387.94 8,691.35 27.47%
Total: 574,376.42 6,667,517.78 8.61%

 

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
NOPE Noble Absolute Return ETF 15.35% 504,704 22.82
BDRY Breakwave Dry Bulk Shipping ETF 13.05% 1,680,923 39.29
CHNA Loncar China BioPharma ETF 7.34% 2,789 5.65
UNG United States Natural Gas Fund LP 6.73% 33,768,086 506.86
GAZ iPath Series B Bloomberg Natural Gas Subindex Total Return ETN 6.44% 153,904 14.52
KWEB KraneShares CSI China Internet ETF 5.67% 104,173,392 6,860.17
JJN iPath Series B Bloomberg Nickel Subindex Total Return ETN 5.50% 49,897 43.58
ZROZ PIMCO 25+ Year Zero Coupon US Treasury Index ETF 5.45% 1,232,495 810.07
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF 5.39% 1,132,755 344.90
KTEC KraneShares Hang Seng TECH Index ETF 4.89% 189,037 7.49

 

Top 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
TUR iShares MSCI Turkey ETF 81.93% -0.99% 359.44
UNL United States 12 Month Natural Gas Fund LP 75.93% 3.98% 31.95
PFIX Simplify Interest Rate Hedge ETF 69.87% -1.66% 344.18
XLE Energy Select Sector SPDR Fund 57.43% -3.30% 39,408.15
FENY Fidelity MSCI Energy Index ETF 56.58% -3.63% 1,581.92
VDE Vanguard Energy ETF 56.49% -3.53% 8,107.17
MLPO Credit Suisse S&P MLP Index ETN 55.38% -1.24% 28.51
IYE iShares U.S. Energy ETF 55.18% -3.65% 2,216.04
OIH VanEck Oil Services ETF 53.34% -3.37% 2,296.78
PXE Invesco Dynamic Energy Exploration & Production ETF 52.81% -5.68% 296.45

 

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 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.