SPY Top Loser Second Week in a Row

Shubham Saharan

Feb 13, 2023

Reviewed by: Shubham Saharan

Edited by: Shubham Saharan

Exchange-traded fund flows reversed course in the week ending Feb. 10, as markets notched their largest weekly decline in two months.

U.S.-listed ETFs shed nearly $5.3 billion last week compared with the $13.6 billion of inflows in the week ending Feb. 3. Most of the losses stemmed from fixed income funds, which lost $3.3 billion compared to the $1.6 billion in outflows recorded the week prior.

ETFs that saw the greatest losses during the week included the iShares iBoxx USD High Yield Corporate Bond ETF (HYG), the SPDR Bloomberg High Yield Bond ETF (JNK) and the iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD), which collectively shed $3.8 billion.

Meanwhile, U.S. equity ETFs lost $2.3 billion last week, compared with the $8.2 billion the asset class gain in the week prior. The greatest outflows stemmed from the largest and oldest U.S.-listed ETF, the SPDR S&P 500 ETF Trust (SPY), which lost $4 billion. This is the second consecutive week that SPY recorded the greatest outflows of U.S.-listed ETFs.

The lackluster performance comes as equity markets posted the steepest losses since mid-December. The S&P dipped 1.1% during the week, while the Nasdaq slumped 2.4%. Meanwhile, the yield on the policy-sensitive two-year Treasury note rose to 4.52% by the end of the trading week.

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
QQQ	Invesco QQQ Trust	908.06	161,331.40	0.56%
FXO	First Trust Financials AlphaDEX Fund	724.94	2,008.78	36.09%
KBWB	Invesco KBW Bank ETF	603.23	2,506.93	24.06%
AGG	iShares Core U.S. Aggregate Bond ETF	436.19	85,839.53	0.51%
SCHD	Schwab U.S. Dividend Equity ETF	403.88	47,016.49	0.86%
QQQM	Invesco NASDAQ 100 ETF	390.97	7,235.00	5.40%
RSP	Invesco S&P 500 Equal Weight ETF	382.83	36,573.74	1.05%
IEI	iShares 3-7 Year Treasury Bond ETF	382.75	12,968.19	2.95%
MDYV	SPDR S&P 400 Mid Cap Value ETF	344.95	3,014.80	11.44%
JEPI	JPMorgan Equity Premium Income ETF	341.71	20,304.48	1.68%

Top 10 Redemptions (All ETFs)

Ticker	Name	Net Flows ($,mm)	AUM ($, mm)	AUM % Change
SPY	SPDR S&P 500 ETF Trust	-4,020.20	376,415.29	-1.07%
HYG	iShares iBoxx USD High Yield Corporate Bond ETF	-2,535.50	16,669.49	-15.21%
JNK	SPDR Bloomberg High Yield Bond ETF	-713.33	9,583.21	-7.44%
FXN	First Trust Energy AlphaDEX Fund	-691.19	1,182.14	-58.47%
DIA	SPDR Dow Jones Industrial Average ETF Trust	-677.58	29,319.30	-2.31%
LQD	iShares iBoxx USD Investment Grade Corporate Bond ETF	-532.07	38,038.34	-1.40%
XLF	Financial Select Sector SPDR Fund	-474.25	33,939.59	-1.40%
XLE	Energy Select Sector SPDR Fund	-468.71	40,077.32	-1.17%
MUB	iShares National Muni Bond ETF	-408.89	31,955.24	-1.28%
EEMV	iShares MSCI Emerging Markets Min Vol Factor ETF	-359.78	5,603.69	-6.42%

ETF Weekly Flows By Asset Class

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	-2,293.26	4,087,632.94	-0.06%
International Equity	790.31	1,254,839.07	0.06%
U.S. Fixed Income	-3,332.28	1,191,381.38	-0.28%
International Fixed Income	503.38	148,497.94	0.34%
Commodities	-55.79	133,206.41	-0.04%
Currency	-214.45	3,568.26	-6.01%
Leveraged	361.83	54,085.23	0.67%
Inverse	-642.29	24,253.69	-2.65%
Asset Allocation	-374.48	15,951.63	-2.35%
Alternatives	-24.05	8,723.33	-0.28%
Total:	-5,281.09	6,922,139.88	-0.08%

Asset Classes (Year-to-Date)

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	727.36	4,087,632.94	0.02%
International Equity	24,056.52	1,254,839.07	1.92%
U.S. Fixed Income	16,191.86	1,191,381.38	1.36%
International Fixed Income	6,618.19	148,497.94	4.46%
Commodities	904.83	133,206.41	0.68%
Currency	-322.78	3,568.26	-9.05%
Leveraged	-948.05	54,085.23	-1.75%
Inverse	5,138.26	24,253.69	21.19%
Asset Allocation	-1,720.06	15,951.63	-10.78%
Alternatives	97.21	8,723.33	1.11%
Total:	50,743.35	6,922,139.88	0.73%

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

Ticker	Name	Weekly Performance	Weekly Volume	AUM ($, mm)
KSET	KraneShares Global Carbon Offset Strategy ETF	7.83%	28,381	2.63
NGE	Global X MSCI Nigeria ETF	7.08%	62,053	41.23
JJN	iPath Series B Bloomberg Nickel Subindex Total Return ETN	6.69%	207,295	47.98
TSLY	YieldMax TSLA Option Income Strategy ETF	5.33%	42,173	1.27
BDRY	Breakwave Dry Bulk Shipping ETF	4.71%	2,792,044	43.64
BOAT	SonicShares Global Shipping ETF	3.90%	48,350	21.93
GREK	Global X MSCI Greece ETF	3.86%	249,438	144.80
SPKX	ConvexityShares 1x SPIKES Futures ETF	3.81%	1,308	0.91
OIL	iPath Pure Beta Crude Oil ETN	3.79%	126,522	57.10
NORW	Global X MSCI Norway ETF	3.73%	150,866	82.07

Top 10 YTD Performers

Ticker	Name	YTD Performance	Weekly Performance	AUM ($, mm)
WGMI	Valkyrie Bitcoin Miners ETF	80.09%	-13.81%	5.25
DAM	VanEck Digital Assets Mining ETF	67.03%	-12.58%	1.24
DAPP	VanEck Digital Transformation ETF	58.80%	-12.22%	27.69
BITQ	Bitwise Crypto Industry Innovators ETF	57.82%	-11.42%	53.98
SATO	Invesco Alerian Galaxy Crypto Economy ETF	51.54%	-10.04%	2.70
IBLC	iShares Blockchain and Tech ETF	49.30%	-10.52%	5.90
GFOF	Grayscale Future of Finance ETF	43.36%	-9.85%	4.90
BITS	Global X Blockchain and Bitcoin Strategy ETF	41.77%	-8.95%	9.44
FDIG	Fidelity Crypto Industry and Digital Payments ETF	39.71%	-10.48%	23.40
NFTZ	Defiance Digital Revolution ETF	38.70%	-8.04%	4.70

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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SPY Top Loser Second Week in a Row

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