Weekly ETF Outflows A Hefty $17.4B
Sell-off in stocks pushes investors to pull money out of U.S.-listed ETFs.
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.
