Weekly ETF Outflows A Hefty $17.4B

Senior ETF Analyst

Aug 09, 2019

Reviewed by: Sumit Roy

Edited by: Sumit Roy

A down week on Wall Street led to a down week for ETF flows. Fresh trade-war-induced economic worries pushed the S&P 500 sharply lower early this week as ETF investors pulled $17.4 billion from U.S.-listed ETFs.

The data, which measures the week ending Thursday, Aug. 8, showed outflows of $10.9 billion from U.S. equity ETFs and outflows of $5 billion for international equity ETFs.

ETFs like the SPDR S&P 500 ETF Trust (SPY) and the iShares MSCI Emerging Markets ETF (EEM) had the largest redemptions this week, partially offset by inflows for funds like the iShares Core S&P 500 ETF (IVV), the iShares Edge MSCI Min Vol U.S.A. ETF (USMV) and the SPDR Gold Trust (GLD).

The S&P 500 dropped 3% on Monday, its biggest one-day loss of the year, before rebounding over the next few days.

Continued escalation of the U.S.-China trade war and deteriorating economic data around the world had investors feeling anxious. In turn, bets that the Federal Reserve will keep cutting rates next month picked up, and the U.S. 10-year Treasury yield briefly fell below 1.6% on Wednesday before rebounding to last trade around 1.73%.

Investors took $2.2 billion out of U.S. fixed income ETFs, but the segment still has strong net inflows of $71.6 billion for the year as a whole.

Combining all ETFS, year-to-date net inflows now stand at $129.8 billion, behind last year’s pace of $155.6 billion.

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
IVV	iShares Core S&P 500 ETF	2,860.64	179,427.57	1.59%
VOO	Vanguard S&P 500 ETF	1,019.62	116,241.38	0.88%
XLP	Consumer Staples Select Sector SPDR Fund	901.66	13,210.63	6.83%
USMV	iShares Edge MSCI Min Vol U.S.A. ETF	890.54	31,363.65	2.84%
GLD	SPDR Gold Trust	550.44	40,650.99	1.35%
XLK	Technology Select Sector SPDR Fund	486.74	21,626.88	2.25%
USHY	iShares Broad USD High Yield Corporate Bond ETF	443.36	1,859.48	23.84%
IJH	iShares Core S&P Mid-Cap ETF	401.82	49,170.91	0.82%
BND	Vanguard Total Bond Market ETF	377.08	43,311.00	0.87%
ITOT	iShares Core S&P Total U.S. Stock Market ETF	338.41	21,246.08	1.59%

Top 10 Redemptions (All ETFs)

Ticker	Name	Net Flows ($,mm)	AUM ($, mm)	AUM % Change
SPY	SPDR S&P 500 ETF Trust	-10,714.08	256,916.39	-4.17%
EEM	iShares MSCI Emerging Markets ETF	-2,828.68	26,312.43	-10.75%
QQQ	Invesco QQQ Trust	-2,786.09	69,935.96	-3.98%
IWM	iShares Russell 2000 ETF	-1,820.92	39,609.18	-4.60%
HYG	iShares iBoxx USD High Yield Corporate Bond ETF	-1,708.08	16,636.36	-10.27%
XLF	Financial Select Sector SPDR Fund	-1,657.90	22,227.46	-7.46%
LQD	iShares iBoxx USD Investment Grade Corporate Bond ETF	-1,106.17	35,562.99	-3.11%
IEMG	iShares Core MSCI Emerging Markets ETF	-1,046.24	52,984.84	-1.97%
VCIT	Vanguard Intermediate-Term Corporate Bond ETF	-715.38	23,480.88	-3.05%
JNK	SPDR Bloomberg Barclays High Yield Bond ETF	-576.25	8,789.07	-6.56%

ETF Weekly Flows By Asset Class

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	-10,932.44	2,205,934.53	-0.50%
International Equity	-4,978.03	785,643.77	-0.63%
U.S. Fixed Income	-2,233.85	697,136.68	-0.32%
International Fixed Income	152.53	79,992.62	0.19%
Commodities	763.93	75,250.33	1.02%
Currency	-26.38	1,428.99	-1.85%
Leveraged	211.37	35,779.14	0.59%
Inverse	-203.87	12,271.33	-1.66%
Asset Allocation	172.15	9,754.08	1.76%
Alternatives	-302.42	4,706.42	-6.43%
Total:	-17,377.00	3,907,897.89	-0.44%

Asset Classes (Year-to-Date)

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	42,787.52	2,205,934.53	1.94%
International Equity	3,987.46	785,643.77	0.51%
U.S. Fixed Income	71,591.53	697,136.68	10.27%
International Fixed Income	9,802.23	79,992.62	12.25%
Commodities	3,148.46	75,250.33	4.18%
Currency	-360.47	1,428.99	-25.23%
Leveraged	-5,443.21	35,779.14	-15.21%
Inverse	3,644.79	12,271.33	29.70%
Asset Allocation	-1.68	9,754.08	-0.02%
Alternatives	673.18	4,706.42	14.30%
Total:	129,829.80	3,907,897.89	3.32%

Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker	Name	Average Volume (30 Day)	1 Week Average Volume	% of Average
PRN	Invesco DWA Industrials Momentum ETF	13,121	46,715	356.02%
PGF	Invesco Financial Preferred ETF	453,875	1,396,688	307.73%
ARCM	Arrow Reserve Capital Management ETF	814	1,900	233.39%
COMB	GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF	36,723	100,636	274.04%
UAE	iShares MSCI UAE ETF	27,841	71,846	258.05%
EIS	iShares MSCI Israel ETF	26,634	76,259	286.32%
MDYV	SPDR S&P 400 Mid Cap Value ETF	96,952	276,795	285.50%
ONEV	SPDR Russell 1000 Low Volatility Focus	11,575	28,591	247.01%
TMV	Direxion Daily 20+ Year Treasury Bear 3x Shares	874,771	2,549,024	291.39%
ESGG	FlexShares STOXX Global ESG Impact Index Fund	1,147	3,508	305.72%

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.

Sumit Roy

| Contact: [email protected]

Sumit Roy is the senior ETF analyst for etf.com, where he has worked for 13 years. He creates a variety of content for the platform, including news articles, analysis pieces, videos and podcasts.

Before joining etf.com, Sumit was the managing editor and commodities analyst for Hard Assets Investor. In those roles, he was responsible for most of the operations of HAI, a website dedicated to education about commodities investing.

Though he still closely follows the commodities beat, Sumit covers a much broader assortment of topics for etf.com, with a particular focus on stock and bond exchange-traded funds.

He is the host of etf.com’s Talk ETFs, a popular video series that features weekly interviews with thought leaders in the ETF industry. Sumit is also co-host of Exchange Traded Fridays, etf.com’s weekly podcast series.

He lives in the San Francisco Bay Area, where he enjoys climbing the city’s steep hills, playing chess and snowboarding in Lake Tahoe.

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Weekly ETF Outflows A Hefty $17.4B

Weekly ETF Outflows A Hefty $17.4B

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