Weekly ETF Flows At $4.5B As Q2 Ends
Plus, agriculture ETFs outperform on lower expected harvests.
Net flows into U.S.-based ETFs came in at $4.5 billion in the week ending July 1, U.S. equities posting its first net outflow of 2021.
ETFs have seen $472.5 billion of inflows this year, missing its last opportunity to breach a once-thought-impossible mark of $500 billion amassed within half a year. Overall, ETFs hold $6.5 trillion in assets under management.
Trades Send US Equities Negative
A likely combination of heartbeat trades and position closing before the end of the second quarter pushed U.S. equities into its first net outflow week in all of 2021.
The asset class lost $4.3 billion in the week, compared to $5.8 billion in inflows last week. Several of the Russell Index funds that saw major inflows last week were the biggest losers in the final week of the second quarter, with most of those redemptions nearly identical to last week’s gains:
- iShares Russell 1000 Growth ETF (IWF): $6.5 billion outflow
- iShares Russell Mid-Cap Growth ETF (IWP): $2.4 billion outflow
- iShares Russell 2000 Value ETF (IWN): $2.2 billion net outflow
- iShares Russell 1000 Value ETF (IWD): $1.4 billion net outflow
- Vanguard Russell 1000 Growth ETF (VONG): $816.7 million outflow
- iShares Russell Mid-Cap ETF (IWR): $788.3 million outflow
The two largest funds continued to see massive inflows this week as the major indexes finished off a bullish first half of the year. The SPDR S&P 500 ETF Trust (SPY) gained $5.3 billion, followed by the Invesco QQQ Trust (QQQ), which san $2.8 billion added in the week.
Ag Funds Outperform
Seven of the 10 top-performing nonleveraged funds this week follow corn and soybean futures, which rallied earlier in the week on dual events.
An unexpected frost and cold snap hit Brazil’s corn-growing regions, threatening the crops with damage after farmers in the country were forced to plant later than usual due to an unusually hot and dry planting season for soybeans before it.
At the same time, the U.S. Department of Agriculture’s annual acreage report showed American farmers planted nearly 1 million acres of corn and 1.4 million acres of soybeans less than expected, driving futures up at the Chicago Mercantile Exchange on Wednesday.
The Teucrium Corn Fund (CORN) led all funds in performance, with an 11.3% gain, followed by the iPath Series B Bloomberg Grains Subindex Total Return ETN (JJG), with a gain of 10.25%.
For a full list of this week’s top inflows and outflows, see the tables below:
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| SPY | SPDR S&P 500 ETF Trust | 5,298.65 | 376,686.22 | 1.41% |
| QQQ | Invesco QQQ Trust | 2,827.28 | 177,009.59 | 1.60% |
| DIA | SPDR Dow Jones Industrial Average ETF Trust | 877.78 | 30,770.28 | 2.85% |
| VOO | Vanguard S&P 500 ETF | 871.59 | 232,774.40 | 0.37% |
| VTI | Vanguard Total Stock Market ETF | 748.43 | 252,833.71 | 0.30% |
| SPYG | SPDR Portfolio S&P 500 Growth ETF | 737.65 | 12,378.50 | 5.96% |
| BND | Vanguard Total Bond Market ETF | 710.85 | 78,830.04 | 0.90% |
| XLK | Technology Select Sector SPDR Fund | 692.74 | 42,435.45 | 1.63% |
| TLT | iShares 20+ Year Treasury Bond ETF | 617.80 | 15,469.30 | 3.99% |
| IBB | iShares Biotechnology ETF | 406.21 | 10,839.85 | 3.75% |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| IWF | iShares Russell 1000 Growth ETF | -6,534.29 | 69,189.03 | -9.44% |
| IWP | iShares Russell Mid-Cap Growth ETF | -2,415.60 | 15,686.71 | -15.40% |
| IWN | iShares Russell 2000 Value ETF | -2,203.34 | 16,690.46 | -13.20% |
| IWD | iShares Russell 1000 Value ETF | -1,498.41 | 54,020.84 | -2.77% |
| VONG | Vanguard Russell 1000 Growth ETF | -816.78 | 6,692.55 | -12.20% |
| IWR | iShares Russell Mid-Cap ETF | -788.34 | 29,630.64 | -2.66% |
| MDYV | SPDR S&P 400 Mid Cap Value ETF | -744.02 | 1,526.57 | -48.74% |
| XLF | Financial Select Sector SPDR Fund | -742.87 | 40,751.26 | -1.82% |
| XLP | Consumer Staples Select Sector SPDR Fund | -598.23 | 11,547.44 | -5.18% |
| OMFL | Invesco Russell 1000 Dynamic Multifactor ETF | -549.81 | 1,537.58 | -35.76% |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | -4,327.66 | 3,814,546.58 | -0.11% |
| International Equity | 2,598.12 | 1,284,317.12 | 0.20% |
| U.S. Fixed Income | 5,322.21 | 1,043,071.82 | 0.51% |
| International Fixed Income | 1,391.02 | 143,157.35 | 0.97% |
| Commodities | -157.74 | 140,269.87 | -0.11% |
| Currency | 23.26 | 1,942.09 | 1.20% |
| Leveraged | -489.47 | 60,834.43 | -0.80% |
| Inverse | 86.49 | 11,702.36 | 0.74% |
| Asset Allocation | 96.94 | 16,347.87 | 0.59% |
| Alternatives | -35.85 | 6,397.79 | -0.56% |
| Total: | 4,507.33 | 6,522,587.27 | 0.07% |
Asset Classes (Year-to-Date)
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | 220,350.38 | 3,814,546.58 | 5.78% |
| International Equity | 138,083.69 | 1,284,317.12 | 10.75% |
| U.S. Fixed Income | 84,602.23 | 1,043,071.82 | 8.11% |
| International Fixed Income | 21,722.40 | 143,157.35 | 15.17% |
| Commodities | -660.11 | 140,269.87 | -0.47% |
| Currency | 55.50 | 1,942.09 | 2.86% |
| Leveraged | 209.23 | 60,834.43 | 0.34% |
| Inverse | 3,962.60 | 11,702.36 | 33.86% |
| Asset Allocation | 2,080.52 | 16,347.87 | 12.73% |
| Alternatives | 2,097.52 | 6,397.79 | 32.79% |
| Total: | 472,503.95 | 6,522,587.27 | 7.24% |
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| CORN | Teucrium Corn Fund | 11.30% | 2,558,911 | 176.75 |
| JJG | iPath Series B Bloomberg Grains Subindex Total Return ETN | 10.25% | 14,342 | 22.31 |
| BITQ | Bitwise Crypto Industry Innovators ETF | 9.03% | 278,728 | 55.59 |
| FUE | ELEMENTS Linked to the ICE BofAML Commodity Index eXtra Biofuels - Total Return ETN | 8.90% | 5,094 | 1.39 |
| GRU | ELEMENTS Linked to ICE BofAML Commodity index eXtra Grains - Total Return ETN | 8.34% | 26,164 | 6.03 |
| SOYB | Teucrium Soybean Fund | 8.27% | 476,760 | 70.78 |
| DAPP | VanEck Vectors Digital Transformation ETF | 7.78% | 115,355 | 33.17 |
| JJA | iPath Series B Bloomberg Agriculture Subindex Total Return ETN | 7.49% | 16,448 | 13.07 |
| HELX | Franklin Genomic Advancements ETF | 6.93% | 29,952 | 18.11 |
| TAGS | Teucrium Agricultural Fund | 6.89% | 20,347 | 10.09 |
Top 10 YTD Performers
| Ticker | Name | YTD Performance | Weekly Performance | AUM ($, mm) |
| BDRY | Breakwave Dry Bulk Shipping ETF | 281.17% | -2.04% | 114.04 |
| ILCV | iShares Morningstar Value ETF | 132.27% | -0.03% | 722.64 |
| FCG | First Trust Natural Gas ETF | 86.92% | -1.80% | 305.50 |
| PSCE | Invesco S&P SmallCap Energy ETF | 83.08% | -3.49% | 217.26 |
| PXE | Invesco Dynamic Energy Exploration & Production ETF | 82.39% | -3.41% | 93.91 |
| GRN | iPath Series B Carbon ETN | 76.13% | 3.11% | 61.47 |
| PXI | Invesco DWA Energy Momentum ETF | 74.17% | -3.44% | 209.92 |
| FRAK | VanEck Vectors Unconventional Oil & Gas ETF | 74.00% | -1.97% | 19.29 |
| JJT | iPath Series B Bloomberg Tin Subindex Total Return ETN | 72.39% | 2.07% | 10.17 |
| XOP | SPDR S&P Oil & Gas Exploration & Production ETF | 66.61% | -3.07% | 4,125.99 |
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.
