ETFs Pull in $10B as Equity Markets Slip

Jan 23, 2023

Reviewed by: Shubham Saharan

Edited by: Shubham Saharan

Bond exchange-traded funds continued their grip on investors last week as equity markets gyrated.

Over $10.2 billion went into U.S.-listed ETFs in the shortened trading week ending Jan. 20, according to ETF.com data, slipping 29.2% from the $14.4 billion haul posted the week prior. The majority of that amount went into fixed income funds, which pulled in $4.5 billion.

Top-performing funds included the Schwab Short-Term U.S. Treasury ETF (SCHO) and the iShares JP Morgan USD Emerging Markets Bond ETF (EMB), which collectively brought in nearly $3.1 billion, according to ETF.com data.

Meanwhile, U.S-listed equity funds saw $382 million in outflows, greater than the $348 million shed the previous week. The S&P 500 slumped 0.7% during the week, while the Nasdaq inched up 0.6%.

That, during a week where the U.S. hit its debt limit, prompted the Treasury Department to scramble to avoid a government shutdown.

The U.S. Treasury is now redirecting money from two government-run retirement funds, the Civil Service Retirement and Disability Fund and the Postal Service Retiree Health Benefits Fund, to continue paying the nation’s bills.

“The period of time that extraordinary measures may last is subject to considerable uncertainty, including the challenges of forecasting the payments and receipts of the U.S. government months into the future,” Treasury Secretary Janet Yellen said in a letter to Congress. “I respectfully urge Congress to act promptly to protect the full faith and credit of the United States.”

In a letter to lawmakers on Jan. 13, Yellen warned the measures would only delay a default until June of this year.

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
SCHO	Schwab Short-Term U.S. Treasury ETF	2,298.55	12,826.16	17.92%
EEM	iShares MSCI Emerging Markets ETF	976.70	25,752.48	3.79%
VTI	Vanguard Total Stock Market ETF	803.62	267,677.04	0.30%
EMB	iShares JP Morgan USD Emerging Markets Bond ETF	796.09	16,949.33	4.70%
BBEU	JPMorgan BetaBuilders Europe ETF	789.13	4,180.78	18.88%
LQD	iShares iBoxx USD Investment Grade Corporate Bond ETF	728.70	39,874.98	1.83%
BNDX	Vanguard Total International Bond ETF	680.20	46,641.89	1.46%
GOVT	iShares U.S. Treasury Bond ETF	655.79	21,853.44	3.00%
VCSH	Vanguard Short-Term Corporate Bond ETF	518.17	41,414.12	1.25%
IEMG	iShares Core MSCI Emerging Markets ETF	483.83	71,092.13	0.68%

Top 10 Redemptions (All ETFs)

Ticker	Name	Net Flows ($,mm)	AUM ($, mm)	AUM % Change
QQQ	Invesco QQQ Trust	-999.66	146,212.32	-0.68%
IWF	iShares Russell 1000 Growth ETF	-871.59	58,673.29	-1.49%
IWD	iShares Russell 1000 Value ETF	-815.73	53,037.79	-1.54%
DIA	SPDR Dow Jones Industrial Average ETF Trust	-565.96	28,696.16	-1.97%
TQQQ	ProShares UltraPro QQQ	-525.37	10,454.84	-5.03%
BSV	Vanguard Short-Term Bond ETF	-518.46	37,731.85	-1.37%
HDV	iShares Core High Dividend ETF	-452.63	12,488.97	-3.62%
EEMV	iShares MSCI Emerging Markets Min Vol Factor ETF	-445.00	6,913.31	-6.44%
ITOT	iShares Core S&P Total U.S. Stock Market ETF	-388.15	39,209.40	-0.99%
XLI	Industrial Select Sector SPDR Fund	-379.17	13,874.38	-2.73%

ETF Weekly Flows By Asset Class

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	-382.44	3,913,526.64	-0.01%
International Equity	3,915.14	1,231,822.42	0.32%
U.S. Fixed Income	4,531.25	1,208,527.62	0.37%
International Fixed Income	1,831.20	146,520.73	1.25%
Commodities	38.54	135,565.29	0.03%
Currency	-14.76	3,827.93	-0.39%
Leveraged	-441.04	47,162.60	-0.94%
Inverse	970.56	25,103.26	3.87%
Asset Allocation	-309.42	16,477.85	-1.88%
Alternatives	97.11	8,967.08	1.08%
Total:	10,236.15	6,737,501.43	0.15%

Asset Classes (Year-to-Date)

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	-3,424.12	3,913,526.64	-0.09%
International Equity	11,234.91	1,231,822.42	0.91%
U.S. Fixed Income	21,737.36	1,208,527.62	1.80%
International Fixed Income	3,563.62	146,520.73	2.43%
Commodities	-140.94	135,565.29	-0.10%
Currency	-31.82	3,827.93	-0.83%
Leveraged	-1,092.26	47,162.60	-2.32%
Inverse	2,919.26	25,103.26	11.63%
Asset Allocation	-960.87	16,477.85	-5.83%
Alternatives	163.19	8,967.08	1.82%
Total:	33,968.33	6,737,501.43	0.50%

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

Ticker	Name	Weekly Performance	Weekly Volume	AUM ($, mm)
JJN	iPath Series B Bloomberg Nickel Subindex Total Return ETN	9.26%	104,109	51.38
NOPE	Noble Absolute Return ETF	8.57%	834,181	44.23
KEUA	KraneShares European Carbon Allowance Strategy ETF	6.85%	159,868	17.04
GRN	iPath Series B Carbon ETN	6.41%	10,979	45.93
EVMT	Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF	4.65%	6,643	23.10
VXX	iPath Series B S&P 500 VIX Short Term Futures ETN	4.13%	28,235,759	333.40
SPKX	ConvexityShares 1x SPIKES Futures ETF	4.06%	7,748	0.96
VIXY	ProShares VIX Short-Term Futures ETF	3.88%	19,462,229	247.48
KRBN	KraneShares Global Carbon Strategy ETF	3.73%	530,627	606.72
KMET	KraneShares Electrification Metals Strategy ETF	3.69%	24,339	23.39

Top 10 YTD Performers

Ticker	Name	YTD Performance	Weekly Performance	AUM ($, mm)
WGMI	Valkyrie Bitcoin Miners ETF	73.60%	-7.29%	2.49
DAM	VanEck Digital Assets Mining ETF	58.90%	-9.38%	0.94
DAPP	VanEck Digital Transformation ETF	53.18%	-7.88%	26.67
BITQ	Bitwise Crypto Industry Innovators ETF	49.56%	-7.31%	50.68
SATO	Invesco Alerian Galaxy Crypto Economy ETF	43.70%	-5.21%	2.57
IBLC	iShares Blockchain and Tech ETF	42.98%	-6.36%	5.66
BITS	Global X Blockchain and Bitcoin Strategy ETF	38.58%	-3.64%	9.11
GFOF	Grayscale Future of Finance ETF	37.92%	-6.55%	4.71
FDIG	Fidelity Crypto Industry and Digital Payments ETF	32.15%	-6.21%	22.18
MAXI	Simplify Bitcoin Strategy PLUS Income ETF	30.50%	0.32%	16.80

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 Pull in $10B as Equity Markets Slip

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