Weekly ETF Flows See Net Loss of $4.2B

Equity-focused ETFs were hit yet again as investors sought to de-risk portfolios.

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Reviewed by: Shubham Saharan
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Edited by: Shubham Saharan

Investors pulled nearly $4.2 billion in assets out of U.S.-listed exchange-traded funds in the week ending Sept. 9, marking the second consecutive week of net outflows for the industry.  

Last week, U.S. stocks recovered some of their decline, as both the S&P 500 and the Nasdaq-100 indexes added nearly 4% despite the Federal Reserve’s hawkish messaging. While the market may have rejoiced at the break of nearly three consecutive weeks of declines, equity-focused ETFs saw $3.7 billion in outflows in the week ending Sept. 9.  

Top shedders included the SPDR Portfolio S&P 500 Growth ETF (SPYG), which recorded just over $1 billion in outflows, the technology focused Invesco QQQ Trust (QQQ) and the iShares S&P 500 Value ETF (IVE).  

Meanwhile, flows into U.S. fixed income markets remained strong, seeing $2.7 billion of inflows, up nearly 80% from the week prior. ETFs focused on Treasury bills and high yield bonds took center stage as investors attempted to rebalance their portfolios amid heightened fear of recession. 

“Markets latched on to this view that this is peak inflation. In terms of flows, people use quite simply what’s been a pretty pronounced recovery to de-risk,” said Doug Fincher, portfolio manager at Ionic Capital Management.  

He added that all eyes will remain on the hotly anticipated consumer price index that is set to release tomorrow, as well as the announcement of the central bank’s next rate hike on Sept. 21 as indicators for future flows.  

Hours ago, the NY Federal Reserve showed that U.S. consumer inflation expectations for August slid to 5.7%, down from the expected 6.2%, according to data platform Trading Economics. Meanwhile, last Thursday, Federal Reserve Chair Jerome Powell emphasized the central bank’s commitment to battle decades-high inflation.  

“I can assure you that my colleagues and I are strongly committed to this project and we will keep at it until the job is done,” Powell said in a Q&A session presented by the Cato Institute, leading investors to expect yet another 75 basis point hike next week.  

 

For a full list of last week’s top inflows and outflows, see the tables below:   

 

Top 10 Creations (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
SHViShares Short Treasury Bond ETF1,897.9922,731.298.35%
BILSPDR Bloomberg 1-3 Month T-Bill ETF982.8520,230.274.86%
VOOVanguard S&P 500 ETF738.60268,454.490.28%
IVViShares Core S&P 500 ETF563.11300,399.170.19%
VTIVanguard Total Stock Market ETF467.21265,391.420.18%
USMViShares MSCI USA Min Vol Factor ETF414.7228,749.921.44%
SHYiShares 1-3 Year Treasury Bond ETF345.3125,788.871.34%
VXUSVanguard Total International Stock ETF334.5846,367.990.72%
SPTLSPDR Portfolio Long Term Treasury ETF333.695,559.416.00%
VTEBVanguard Tax-Exempt Bond ETF281.3618,358.331.53%

 

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
QQQInvesco QQQ Trust-1,455.21163,786.67-0.89%
SPYGSPDR Portfolio S&P 500 Growth ETF-1,007.1213,617.48-7.40%
XLFFinancial Select Sector SPDR Fund-925.2633,036.30-2.80%
ACWIiShares MSCI ACWI ETF-909.8216,384.99-5.55%
EEMiShares MSCI Emerging Markets ETF-660.1624,102.43-2.74%
XLEEnergy Select Sector SPDR Fund-593.4336,323.13-1.63%
IJSiShares S&P Small-Cap 600 Value ETF-428.336,787.84-6.31%
IJTiShares S&P Small-Cap 600 Growth ETF-403.095,183.03-7.78%
BSVVanguard Short-Term Bond ETF-403.0138,469.51-1.05%
IVEiShares S&P 500 Value ETF-387.8523,869.67-1.62%

 

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity-3,700.753,875,651.90-0.10%
International Equity-1,723.421,089,560.11-0.16%
U.S. Fixed Income2,738.091,104,445.460.25%
International Fixed Income56.00138,182.100.04%
Commodities-1,049.70135,287.61-0.78%
Currency-236.314,074.47-5.80%
Leveraged126.8448,519.870.26%
Inverse-480.7424,750.23-1.94%
Asset Allocation-4.2016,717.64-0.03%
Alternatives94.488,343.691.13%
Total:-4,179.736,445,533.08-0.06%

 

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity167,557.803,875,651.904.32%
International Equity63,968.141,089,560.115.87%
U.S. Fixed Income108,904.751,104,445.469.86%
International Fixed Income6,009.26138,182.104.35%
Commodities4,762.75135,287.613.52%
Currency1,612.214,074.4739.57%
Leveraged18,117.6348,519.8737.34%
Inverse11,313.1224,750.2345.71%
Asset Allocation318.7216,717.641.91%
Alternatives1,818.188,343.6921.79%
Total:384,382.556,445,533.085.96%

 

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

TickerNameWeekly PerformanceWeekly VolumeAUM ($, mm)
CTEXProShares S&P Kensho Cleantech ETF6.29%12,0346.77
TANInvesco Solar ETF6.16%4,845,1773,097.76
VCLNVirtus Duff & Phelps Clean Energy ETF5.89%1,0803.83
CRPTFirst Trust SkyBridge Crypto Industry and Digital Economy ETF5.51%18,79026.89
XDNAKelly CRISPR & Gene Editing Technology ETF5.48%9,7046.64
CTECGlobal X CleanTech ETF5.18%55,322128.95
CNRGSPDR S&P Kensho Clean Power ETF4.98%41,810363.50
ACESALPS Clean Energy ETF4.87%100,071844.65
ICLNiShares Global Clean Energy ETF4.85%12,478,2895,815.58
FRNWFidelity Clean Energy ETF4.76%31,52841.51

 

Top 10 YTD Performers

TickerNameYTD PerformanceWeekly PerformanceAUM ($, mm)
TADSThe Active Dividend Stock ETF17.40%0.00%41.51
NVMZTrueShares Structured Outcome ETF - November14.66% 41.51
SULRSmartETFs Sustainable Energy II ETF8.64% 41.51
HGERHarbor All-Weather Inflation Focus ETF -1.19%63.29
VEGAAdvisorShares STAR Global Buy-Write ETF 1.36%38.29
DBVInvesco DB G10 Currency Harvest Fund 0.54%37.17
HDGProShares Hedge Replication ETF 0.48%41.32
WTMFWisdomTree Managed Futures Strategy Fund 0.49%141.42
QMNIQ Hedge Market Neutral Tracker ETF 0.32%7.61
FTLSFirst Trust Long/Short Equity ETF 1.09%512.47

 

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 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.