Bond Funds Remain Investors’ Top Pick

January 17, 2023

Fixed income exchange-traded funds posted a $7.8 billion haul as investors shirked off equities. 

ETFs netted $14 billion in inflows the week ending Jan. 13, climbing nearly 55% from $9.3 billion that came in the week prior. Of that, $7.8 billion in assets flocked to bond funds, a 17% dip from the week ending Jan. 6, according to ETF.com data. Meanwhile, equity funds shed $348 million, compared to the $2.7 billion in outflows posted the previous week.  

The outflows in equity ETFs come despite U.S. stocks recording their largest weekly gains in two months. The S&P 500 gained 2.7% in the week ending Jan. 13, while the Nasdaq soared 4.8% in the same period. Treasury yields also surged, with the two-year reaching 4.23% by the end of the week. In November, the note, which is particularly sensitive to policy shifts and interest rate movements, saw yields peak at 4.7%. Bond prices fall as yields rise.  

Another bright spot for investors was international equity ETFs, which lured $5.2 billion. Top-performing funds included the iShares Core MSCI Emerging Markets ETF (IEMG) and the iShares JP Morgan USD Emerging Markets Bond ETF (EMB), which collectively brought in nearly $3 billion, ETF.com data shows.  

On the other side of the ledger, funds with the greatest losses included the Invesco QQQ Trust (QQQ), the Technology Select Sector SPDR Fund (XLK) and the iShares ESG Aware MSCI USA ETF (ESGU) which recorded $3.6 billion in losses.  

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
IEMG iShares Core MSCI Emerging Markets ETF 1,858.38 70,184.22 2.65%
LQD iShares iBoxx USD Investment Grade Corporate Bond ETF 1,631.14 39,028.03 4.18%
SPY SPDR S&P 500 ETF Trust 1,550.40 370,717.20 0.42%
MBB iShares MBS ETF 1,258.90 25,493.07 4.94%
HYG iShares iBoxx USD High Yield Corporate Bond ETF 1,258.33 18,671.74 6.74%
TLT iShares 20+ Year Treasury Bond ETF 1,189.30 31,072.02 3.83%
EMB iShares JP Morgan USD Emerging Markets Bond ETF 1,145.96 15,947.61 7.19%
IUSB iShares Core Total USD Bond Market ETF 918.48 20,825.51 4.41%
VCIT Vanguard Intermediate-Term Corporate Bond Index Fund ETF 635.42 41,671.98 1.52%
SQQQ ProShares UltraPro Short QQQ 608.88 4,416.31 13.79%

 

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
QQQ Invesco QQQ Trust -2,154.47 149,330.40 -1.44%
GOVT iShares U.S. Treasury Bond ETF -1,604.41 21,152.33 -7.59%
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF -1,133.85 7,274.48 -15.59%
SGOV iShares 0-3 Month Treasury Bond ETF -861.69 6,639.84 -12.98%
ESGU iShares ESG Aware MSCI USA ETF -802.86 19,629.79 -4.09%
IWD iShares Russell 1000 Value ETF -724.13 55,268.43 -1.31%
IWF iShares Russell 1000 Growth ETF -691.04 60,441.49 -1.14%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF -645.09 26,540.42 -2.43%
XLK Technology Select Sector SPDR Fund -643.47 39,333.50 -1.64%
ICVT iShares Convertible Bond ETF -598.80 1,350.49 -44.34%

 

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity -348.41 4,000,146.74 -0.01%
International Equity 5,203.02 1,226,725.73 0.42%
U.S. Fixed Income 7,801.52 1,200,553.14 0.65%
International Fixed Income 1,818.59 143,647.91 1.27%
Commodities -418.47 133,575.91 -0.31%
Currency 2.92 3,751.45 0.08%
Leveraged -820.62 49,782.66 -1.65%
Inverse 1,619.55 23,224.75 6.97%
Asset Allocation -506.98 16,897.33 -3.00%
Alternatives 45.52 8,886.47 0.51%
Total: 14,396.64 6,807,192.10 0.21%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity -3,043.65 4,000,146.74 -0.08%
International Equity 7,319.77 1,226,725.73 0.60%
U.S. Fixed Income 17,206.11 1,200,553.14 1.43%
International Fixed Income 1,732.41 143,647.91 1.21%
Commodities -179.48 133,575.91 -0.13%
Currency -20.71 3,751.45 -0.55%
Leveraged -651.21 49,782.66 -1.31%
Inverse 1,948.70 23,224.75 8.39%
Asset Allocation -649.79 16,897.33 -3.85%
Alternatives 66.08 8,886.47 0.74%
Total: 23,728.23 6,807,192.10 0.35%

 

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
DAM VanEck Digital Assets Mining ETF 29.07% 6,665 0.92
WGMI Valkyrie Bitcoin Miners ETF 27.69% 165,660 2.44
DAPP VanEck Digital Transformation ETF 25.16% 286,655 26.01
BITQ Bitwise Crypto Industry Innovators ETF 22.52% 590,829 49.55
IBLC iShares Blockchain and Tech ETF 22.17% 14,705 5.68
GFOF Grayscale Future of Finance ETF 21.67% 35,716 4.66
SATO Invesco Alerian Galaxy Crypto Economy ETF 20.95% 6,074 2.53
NFTZ Defiance Digital Revolution ETF 17.21% 11,187 4.97
BITS Global X Blockchain and Bitcoin Strategy ETF 16.45% 20,182 8.65
FDIG Fidelity Crypto Industry and Digital Payments ETF 16.40% 154,178 22.39

 

Top 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
WGMI Valkyrie Bitcoin Miners ETF 67.11% 27.69% 2.44
DAM VanEck Digital Assets Mining ETF 55.70% 29.07% 0.92
DAPP VanEck Digital Transformation ETF 49.06% 25.16% 26.01
BITQ Bitwise Crypto Industry Innovators ETF 46.02% 22.52% 49.55
IBLC iShares Blockchain and Tech ETF 43.36% 22.17% 5.68
SATO Invesco Alerian Galaxy Crypto Economy ETF 41.22% 20.95% 2.53
GFOF Grayscale Future of Finance ETF 36.55% 21.67% 4.66
FDIG Fidelity Crypto Industry and Digital Payments ETF 33.78% 16.40% 22.39
NFTZ Defiance Digital Revolution ETF 30.28% 17.21% 4.97
BITS Global X Blockchain and Bitcoin Strategy ETF 29.22% 16.45% 8.65

 

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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