Equity ETFs on Top Despite Market Decline

March 13, 2023

U.S. equity exchange-traded funds reversed losses from prior weeks as investors flocked to U.S. stock ETFs despite a market downturn.  

U.S. equity funds pulled in just over $7 billion in the week ending March 10, according to etf.com data. That’s a shift from the $9 billion that left the asset class the week prior. 

The top asset gatherer of the week was the SPDR S&P 500 ETF Trust (SPY), which lured in $5.2 billion, compared with the $8.8 billion that exited the fund the week before. Other funds that attracted the most inflows included the iShares Core S&P 500 ETF (IVV) and the Invesco QQQ Trust (QQQ), which collectively pulled in nearly $1.6 billion.  

The uptick in interest in U.S. equity ETFs comes despite a rough week for stock markets. The S&P 500 dipped 4.5% during the trading week, its worst performance in nearly six months, as fears reverberated through markets that bank stress following the closure of SVB could send more firms under. The Nasdaq slumped 4.7% during the same period.  

Meanwhile, U.S. fixed income ETFs brought in nearly $4 billion during the week. That’s a 15% drop from the $4.6 billion that the asset class drew in the previous week. Bond funds that saw the greatest inflows included the SPDR Bloomberg 1-3 Month T-Bill ETF (BIL), the iShares 20+ Year Treasury Bond ETF (TLT) and the iShares Core U.S. Aggregate Bond ETF (AGG).  

On the other side of the ledger, ETFs with the greatest outflows included the Invesco Russell 1000 Dynamic Multifactor ETF (OMFL) and the SPDR Gold Trust (GLD)

 

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
SPY SPDR S&P 500 ETF Trust 5,171.14 353,651.88 1.46%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF 933.45 27,550.19 3.39%
IVV iShares Core S&P 500 ETF 864.57 293,936.60 0.29%
TLT iShares 20+ Year Treasury Bond ETF 843.58 31,402.63 2.69%
QQQ Invesco QQQ Trust 656.60 156,535.65 0.42%
MBB iShares MBS ETF 452.56 24,995.96 1.81%
VOO Vanguard S&P 500 ETF 415.79 271,302.51 0.15%
QQQM Invesco NASDAQ 100 ETF 396.13 7,326.12 5.41%
IWM iShares Russell 2000 ETF 393.64 52,073.73 0.76%
AGG iShares Core U.S. Aggregate Bond ETF 309.71 85,931.23 0.36%

 

Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
OMFL Invesco Russell 1000 Dynamic Multifactor ETF -637.96 2,605.51 -24.49%
GLD SPDR Gold Trust -614.24 53,071.60 -1.16%
SCHR Schwab Intermediate-Term U.S. Treasury ETF -567.03 6,984.95 -8.12%
DIA SPDR Dow Jones Industrial Average ETF Trust -558.34 27,315.54 -2.04%
EWY iShares MSCI South Korea ETF -502.86 3,281.23 -15.33%
JNK SPDR Bloomberg High Yield Bond ETF -401.00 6,900.31 -5.81%
XLE Energy Select Sector SPDR Fund -374.87 39,663.26 -0.95%
XLK Technology Select Sector SPDR Fund -365.18 40,001.60 -0.91%
XLV Health Care Select Sector SPDR Fund -341.91 37,653.24 -0.91%
SHY iShares 1-3 Year Treasury Bond ETF -290.30 25,995.41 -1.12%

 

ETF Weekly Flows By Asset Class

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 7,046.76 3,920,979.39 0.18%
International Equity 581.52 1,215,050.36 0.05%
U.S. Fixed Income 3,938.75 1,183,189.29 0.33%
International Fixed Income 404.86 144,989.90 0.28%
Commodities -804.02 126,714.73 -0.63%
Currency 28.70 3,482.50 0.82%
Leveraged 25.86 48,987.44 0.05%
Inverse 24.83 26,272.89 0.09%
Asset Allocation -39.43 15,942.89 -0.25%
Alternatives -133.42 7,376.57 -1.81%
Total: 11,074.43 6,692,985.96 0.17%

 

Asset Classes (Year-to-Date)

  Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity -5,867.83 3,920,979.39 -0.15%
International Equity 29,069.38 1,215,050.36 2.39%
U.S. Fixed Income 26,703.53 1,183,189.29 2.26%
International Fixed Income 5,769.02 144,989.90 3.98%
Commodities -1,392.56 126,714.73 -1.10%
Currency -329.73 3,482.50 -9.47%
Leveraged -51.78 48,987.44 -0.11%
Inverse 5,140.31 26,272.89 19.57%
Asset Allocation -1,892.82 15,942.89 -11.87%
Alternatives -45.76 7,376.57 -0.62%
Total: 57,101.77 6,692,985.96 0.85%

 

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
SPKX ConvexityShares 1x SPIKES Futures ETF 11.65% 16,848 0.91
VXX iPath Series B S&P 500 VIX Short Term Futures ETN 10.90% 7,251,159 251.60
VIXY ProShares VIX Short-Term Futures ETF 10.84% 24,175,684 273.57
BDRY Breakwave Dry Bulk Shipping ETF 8.42% 1,660,714 111.94
GRN iPath Series B Carbon ETN 6.60% 14,479 54.60
NOPE Noble Absolute Return ETF 6.03% 529,711 39.74
KEUA KraneShares European Carbon Allowance Strategy ETF 5.78% 312,001 40.61
VIXM ProShares VIX Mid-Term Futures ETF 5.25% 171,630 65.55
VXZ iPath Series B S&P 500 VIX Mid-Term Futures ETN 5.14% 112,544 44.11
CYA Simplify Tail Risk Strategy ETF 4.61% 130,082 19.25

 

Top 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
WGMI Valkyrie Bitcoin Miners ETF 46.31% -12.08% 4.28
DAM VanEck Digital Assets Mining ETF 39.43% -12.26% 1.04
DAPP VanEck Digital Transformation ETF 32.96% -12.13% 23.13
BITQ Bitwise Crypto Industry Innovators ETF 32.15% -10.76% 46.36
IBLC iShares Blockchain and Tech ETF 31.47% -9.30% 5.21
SATO Invesco Alerian Galaxy Crypto Economy ETF 27.11% -9.56% 2.27
BITS Global X Blockchain and Bitcoin Strategy ETF 26.97% -10.93% 8.44
ARKW ARK Next Generation Internet ETF 25.97% -4.80% 1,191.95
FDIG Fidelity Crypto Industry and Digital Payments ETF 25.93% -9.02% 22.39
ARKF ARK Fintech Innovation ETF 22.71% -4.68% 814.13

 

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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