Value Stock, Bond ETFs Flows Jumped After Fed Rate Hike

Vanguard's VTV took in $2.73 billion last week, while SPY had outflows of $1.48 billion.

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Reviewed by: Ron Day
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Edited by: Ron Day

Investors are hunting for bargains even after the rally that kicked off 2023 has erased part of last year’s double-digit decline in the S&P 500.

The Vanguard Value ETF (VTV), which is up only about 1% so far this year, led all funds’ inflows last week when it took in $2.73 billion, according to ETF.com data. The No. 2 spot went to the BNY Mellon US Large Cap Core Equity ETF (BKLC); that fund’s assets under management surged 69% as it took in $1.23 billion.

Even after last week’s gain in the S&P 500, the world’s biggest ETF, the SPDR S&P 500 ETF Trust (SPY) had the biggest outflows, at $1.48 billion. Despite another Federal Reserve interest rate hike on Wednesday, a corporate bond fund, the Shares iBoxx USD Investment Grade Corporate Bond ETF (LQD), had the second biggest outflows, at $1.47 billion.

Among asset classes, U.S. equities held the top spot, bringing in $8.24 billion. The top performer was the $1.54 million VanEck Digital Mining ETF (DAM), which gained 20%.

 

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
VTV Vanguard Value ETF 2,733.74 105,968.68 2.58%
BKLC BNY Mellon US Large Cap Core Equity ETF 1,228.50 1,787.94 68.71%
XLF Financial Select Sector SPDR Fund 1,200.48 34,692.90 3.46%
QQQ Invesco QQQ Trust 1,150.99 165,856.31 0.69%
SQQQ ProShares UltraPro Short QQQ 1,049.02 4,961.58 21.14%
HYG iShares iBoxx USD High Yield Corporate Bond ETF 859.62 19,588.49 4.39%
IEMG iShares Core MSCI Emerging Markets ETF 735.28 72,867.95 1.01%
JEPI JPMorgan Equity Premium Income ETF 636.41 20,122.56 3.16%
IWM iShares Russell 2000 ETF 600.67 57,994.07 1.04%
BBEU JPMorgan BetaBuilders Europe ETF 589.06 7,378.84 7.98%

 

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 ETF Trust -1,484.58 389,408.23 -0.38%
LQD iShares iBoxx USD Investment Grade Corporate Bond ETF -1,468.33 39,634.74 -3.70%
IEF iShares 7-10 Year Treasury Bond ETF -1,256.06 23,582.02 -5.33%
IWF iShares Russell 1000 Growth ETF -886.23 62,674.73 -1.41%
XLE Energy Select Sector SPDR Fund -722.32 40,231.04 -1.80%
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF -710.72 6,062.02 -11.72%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF -622.45 24,565.57 -2.53%
IWD iShares Russell 1000 Value ETF -539.82 54,248.64 -1.00%
TQQQ ProShares UltraPro QQQ -533.75 14,068.35 -3.79%
EFA iShares MSCI EAFE ETF -516.45 49,093.90 -1.05%

 

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 8,244.27 4,199,394.35 0.20%
International Equity 4,325.56 1,281,242.62 0.34%
U.S. Fixed Income -1,552.85 1,210,020.77 -0.13%
International Fixed Income 1,063.23 149,913.68 0.71%
Commodities 322.27 136,663.90 0.24%
Currency -56.84 3,848.91 -1.48%
Leveraged -444.42 57,726.14 -0.77%
Inverse 1,756.24 23,444.58 7.49%
Asset Allocation -44.48 16,608.35 -0.27%
Alternatives -45.13 8,756.70 -0.52%
Total: 13,567.83 7,087,619.98 0.19%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 2,851.29 4,199,394.35 0.07%
International Equity 23,136.69 1,281,242.62 1.81%
U.S. Fixed Income 19,716.56 1,210,020.77 1.63%
International Fixed Income 6,099.81 149,913.68 4.07%
Commodities 957.35 136,663.90 0.70%
Currency -108.33 3,848.91 -2.81%
Leveraged -1,309.88 57,726.14 -2.27%
Inverse 5,783.40 23,444.58 24.67%
Asset Allocation -1,346.33 16,608.35 -8.11%
Alternatives 60.05 8,756.70 0.69%
Total: 55,840.62 7,087,619.98 0.79%

 

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 20.16% 32,610 1.54
BITQ Bitwise Crypto Industry Innovators ETF 19.63% 867,013 63.02
DAPP VanEck Digital Transformation ETF 19.22% 595,704 33.58
SATO Invesco Alerian Galaxy Crypto Economy ETF 19.00% 13,478 3.21
IBLC iShares Blockchain and Tech ETF 18.97% 31,411 7.09
GFOF Grayscale Future of Finance ETF 18.90% 11,923 5.80
CRPT First Trust SkyBridge Crypto Industry and Digital Economy ETF 18.04% 288,276 19.81
WGMI Valkyrie Bitcoin Miners ETF 17.62% 388,163 6.49
FDIG Fidelity Crypto Industry and Digital Payments ETF 17.51% 159,340 27.81
ARKW ARK Next Generation Internet ETF 16.31% 3,109,869 1,396.79

 

Top 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
WGMI Valkyrie Bitcoin Miners ETF 85.46% 17.62% 6.49
DAM VanEck Digital Assets Mining ETF 70.81% 20.16% 1.54
DAPP VanEck Digital Transformation ETF 63.30% 19.22% 33.58
BITQ Bitwise Crypto Industry Innovators ETF 58.70% 19.63% 63.02
IBLC iShares Blockchain and Tech ETF 52.62% 18.97% 7.09
SATO Invesco Alerian Galaxy Crypto Economy ETF 52.13% 19.00% 3.21
GFOF Grayscale Future of Finance ETF 46.69% 18.90% 5.80
BITS Global X Blockchain and Bitcoin Strategy ETF 45.90% 10.88% 10.95
FDIG Fidelity Crypto Industry and Digital Payments ETF 41.63% 17.51% 27.81
NFTZ Defiance Digital Revolution ETF 36.58% 14.71% 5.40

 

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.

Ron Day is deputy managing editor at etf.com. He covered business and financial news at Bloomberg News for 20 years, was senior editor at ESG news outlet Karma Impact, and covered general news at several New Jersey daily papers. Day's freelance work has been published in AARP.com, Investopedia.com and BigThink.com.