ETFs Pull in $10B as Equity Markets Slip

January 23, 2023

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.

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