Weekly ETF Inflows Streak Snapped
After eight-straight weeks of inflows, ETFs registered outflows.
It was a good run, but after eight-straight weeks of inflows, ETFs registered an outflow this week. A net $3.4 billion was pulled out of U.S.-listed ETFs during the week ending Thursday, June 7, according to FactSet. That pushed year-to-date inflows down to $119.7 billion.
Despite the week’s net outflows, there were some bright spots. The Schwab U.S. TIPS ETF (SCHP) saw a stellar $1 billion worth of creations, representing a 25% increase in the fund’s assets under management (AUM). At the same time, the Schwab Intermediate-Term U.S. Treasury ETF (SCHR) picked up a cool $810 million, representing an increase of 43% in its AUM.
Hefty Outflows
The big inflows into SCHP and SCHR helped offset hefty outflows from other fixed-income ETFs, such as the iShares 1-3 Year Treasury Bond ETF (SHY) and the iShares 0-5 Year High Yield Corporate Bond ETF (SHYG), which had redemptions of a combined $2.3 billion.
U.S. fixed-income ETFs had net inflows of $1.4 billion for the week, even as the U.S. 10-year Treasury yield jumped 11 basis points week-over-week to 2.94%, and the two-year yield gained 3 basis points to 2.5% (bond prices and yields move inversely).
On the other hand, U.S. equity ETFs and international equity ETFs had a combined $2.7 billion worth of outflows during the week despite a strong rally in the stock market. The Russell 2000 hit a fresh record high, while the S&P 500 hit a three-week high during the period.
The SPDR S&P 500 ETF Trust (SPY), the Invesco QQQ Trust (QQQ) and the iShares Edge MSCI Min Vol U.S.A. ETF (USMV) were the biggest flows losers during the week.
For a full list of this week’s top inflows and outflows, see the tables below:
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| SCHP | Schwab U.S. TIPS ETF | 1,048.71 | 5,247.88 | 24.97% |
| XLK | Technology Select Sector SPDR Fund | 812.69 | 22,953.94 | 3.67% |
| SCHR | Schwab Intermediate-Term U.S. Treasury ETF | 810.03 | 2,678.36 | 43.36% |
| IWM | iShares Russell 2000 ETF | 562.66 | 48,476.35 | 1.17% |
| IJR | iShares Core S&P Small Cap ETF | 531.66 | 43,135.96 | 1.25% |
| XLY | Consumer Discretionary Select Sector SPDR Fund | 428.94 | 14,091.22 | 3.14% |
| VMBS | Vanguard Mortgage-Backed Securities ETF | 380.74 | 5,830.84 | 6.99% |
| TLT | iShares 20+ Year Treasury Bond ETF | 358.27 | 6,805.42 | 5.56% |
| FLOT | iShares Floating Rate Bond ETF | 315.52 | 9,979.82 | 3.26% |
| IEI | iShares 3-7 Year Treasury Bond ETF | 276.67 | 7,408.79 | 3.88% |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| SPY | SPDR S&P 500 ETF Trust | -1,992.09 | 266,972.33 | -0.74% |
| QQQ | Invesco QQQ Trust | -1,341.04 | 67,140.29 | -1.96% |
| SHY | iShares 1-3 Year Treasury Bond ETF | -1,207.13 | 12,704.85 | -8.68% |
| SHYG | iShares 0-5 Year High Yield Corporate Bond ETF | -1,071.26 | 2,407.38 | -30.80% |
| USMV | iShares Edge MSCI Min Vol U.S.A. ETF | -935.37 | 14,699.72 | -5.98% |
| GLD | SPDR Gold Trust | -592.19 | 34,799.48 | -1.67% |
| MTUM | iShares Edge MSCI U.S.A. Momentum Factor ETF | -552.74 | 9,465.52 | -5.52% |
| QUAL | iShares Edge MSCI U.S.A. Quality Factor ETF | -519.81 | 5,271.89 | -8.98% |
| IVV | iShares Core S&P 500 ETF | -452.07 | 154,945.27 | -0.29% |
| EMLC | VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | -379.46 | 4,660.44 | -7.53% |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | -1,832.69 | 2,036,438.68 | -0.09% |
| International Equity | -910.75 | 843,701.38 | -0.11% |
| U.S. Fixed Income | 1,428.01 | 542,923.28 | 0.26% |
| International Fixed Income | -883.35 | 62,187.23 | -1.42% |
| Commodities | -737.47 | 68,895.83 | -1.07% |
| Currency | -11.81 | 1,250.40 | -0.94% |
| Leveraged | -435.52 | 37,062.03 | -1.18% |
| Inverse | 7.63 | 13,351.21 | 0.06% |
| Asset Allocation | 10.20 | 9,396.56 | 0.11% |
| Alternatives | 5.87 | 4,348.83 | 0.14% |
| Total: | -3,359.88 | 3,619,555.42 | -0.09% |
Top 10 Volume Surprises, Funds >$50 mm AUM
| Ticker | Name | Average Volume (30 Day) | 1 Week Average Volume | % of Average |
| USHY | iShares Broad USD High Yield Corporate Bond ETF | 10,913 | 70,911 | 649.78% |
| DWX | SPDR S&P International Dividend ETF | 264,053 | 1,280,118 | 484.80% |
| RTH | VanEck Vectors Retail ETF | 14,166 | 65,069 | 459.34% |
| JPGB | JPMorgan Global Bond Opportunities ETF | 13,427 | 50,228 | 374.07% |
| HYLB | Xtrackers USD High Yield Corporate Bond ETF | 990,127 | 3,887,835 | 392.66% |
| CHIQ | Global X China Consumer ETF | 123,277 | 435,765 | 353.48% |
| EWMC | Invesco S&P MidCap 400 Equal Weight ETF | 4,627 | 14,349 | 310.13% |
| RISE | Sit Rising Rate ETF | 26,936 | 77,916 | 289.26% |
| EFG | iShares MSCI EAFE Growth ETF | 194,099 | 803,292 | 413.86% |
| BIZD | VanEck Vectors BDC Income ETF | 53,057 | 139,495 | 262.91% |
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.
