Value Stock, Bond ETFs Flows Jumped After Fed Rate Hike

Feb 06, 2023

Reviewed by: Ron Day

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

| Contact: [email protected]

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.

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Value Stock, Bond ETFs Flows Jumped After Fed Rate Hike

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