Weekly Flows Positive Despite Hefty Bond ETF Outflows
Despite significant outflows from fixed-income products, overall U.S.-listed ETF assets saw an increase in the week ending Thursday, June 2.
Flows into U.S.-listed exchange-traded funds slowed this week, but remained in positive territory, as investors weighed whether the Federeal Reserve will hike interest rates in the coming months. After building for weeks, rate hike expectations were reduced significantly on Friday following a disappointing jobs report.
On net, $1.7 billion followed into ETFs in the week ending Thursday, June 2, according to FactSet data. U.S. equity ETFs took in $1.7 billion; international equity ETFs took in $490 million; U.S. fixed-income ETFs lost $972 million; and commodity ETFs took in $156 million.
QQQ Tops Inflows, GLD Adds Assets Again
In terms of individual ETFs, the PowerShares QQQ Trust (QQQ | A-67) was at the No. 1 position, with about $1 billion in inflows. That was followed by the Vanguard Total Stock Market Index Fund (VTI | A-100), with $635 million and the Vanguard S&P 500 Index Fund (VOO), with $299 million.
Notably, the SPDR Gold Trust (GLD | A-100) made the top inflows list yet again, with creations of $255 million. The fund is far and away the inflows leader for 2016 so far.
SPY & HYG See Outflows
On the other end of the spectrum was the SPDR S&P 500 ETF (SPY | A-97), which topped all outflows, with $2.5 billion in redemptions. The iShares iBoxx $ High Yield Corporate Bond ETF (HYG | B-68) followed suit, with $938 million in outflows.
A number of other fixed-income ETFs made the top outflows list. Investors may have been reducing their fixed-income allocations in anticipation of a Fed rate hike, but after the weak jobs report, it will be interesting to see whether money comes back into the space.
Finally, at the No. 10 position on the outflows list was the VelocityShares 3X Long Natural Gas ETN (UGAZ), which had redemptions of $115 million, or 29% of its total assets under management.
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| QQQ | PowerShares QQQ Trust | 1,010.05 | 37,374.11 | 2.78% |
| VTI | Vanguard Total Stock Market Index Fund | 634.86 | 61,916.76 | 1.04% |
| VOO | Vanguard S&P 500 Index Fund | 298.51 | 45,702.50 | 0.66% |
| XLF | Financial Select Sector SPDR Fund | 260.27 | 17,342.82 | 1.52% |
| GLD | SPDR Gold Trust | 255.04 | 34,102.81 | 0.75% |
| IEI | iShares 3-7 Year Treasury Bond ETF | 250.58 | 5,895.75 | 4.44% |
| LQD | iShares iBoxx $ Investment Grade Corporate Bond ETF | 249.31 | 28,437.00 | 0.88% |
| IEMG | iShares Core MSCI Emerging Markets ETF | 193.28 | 11,148.85 | 1.76% |
| VXX | iPath S&P 500 VIX Short-Term Futures ETN | 164.98 | 1,566.23 | 11.77% |
| AGG | iShares Core U.S. Aggregate Bond ETF | 154.65 | 36,779.99 | 0.42% |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| SPY | SPDR S&P 500 ETF Trust | -2,489.57 | 183,702.44 | -1.34% |
| HYG | iShares iBoxx $ High Yield Corporate Bond ETF | -938.28 | 14,276.26 | -6.17% |
| SHV | iShares Short Treasury Bond ETF | -595.79 | 3,034.05 | -16.41% |
| TLT | iShares 20+ Year Treasury Bond ETF | -273.64 | 8,322.09 | -3.18% |
| XLE | Energy Select Sector SPDR Fund | -220.10 | 13,835.37 | -1.57% |
| TIP | iShares TIPS Bond ETF | -171.09 | 17,828.21 | -0.95% |
| MDY | SPDR S&P Midcap 400 ETF Trust | -137.08 | 16,293.74 | -0.83% |
| USO | United States Oil Fund LP | -128.89 | 3,395.07 | -3.66% |
| IEF | iShares 7-10 Year Treasury Bond ETF | -120.70 | 9,852.10 | -1.21% |
| UGAZ | VelocityShares 3X Long Natural Gas ETN | -115.25 | 288.03 | -28.58% |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | 1,731.39 | 989,164.14 | 0.18% |
| International Equity | 490.03 | 378,318.16 | 0.13% |
| U.S. Fixed Income | -971.74 | 299,014.58 | -0.32% |
| International Fixed Income | 141.31 | 27,295.53 | 0.52% |
| Commodities | 155.99 | 50,842.02 | 0.31% |
| Currency | 18.49 | 982.12 | 1.88% |
| Leveraged | -313.40 | 19,136.41 | -1.64% |
| Inverse | 193.35 | 16,854.42 | 1.15% |
| Asset Allocation | 20.85 | 4,649.81 | 0.45% |
| Alternatives | 183.76 | 3,266.39 | 5.63% |
| Total: | 1,650.03 | 1,789,523.58 | 0.09% |
Top 10 Volume Surprises, Funds >$50 mm AUM
| Ticker | Name | Average Volume (30 Day) | 1 Week Average Volume | % of Average |
| FREL | Fidelity MSCI Real Estate Index ETF | 102,716 | 673,565 | 655.75% |
| DVYA | iShares Asia/Pacific Dividend ETF | 15,593 | 71,796 | 460.44% |
| RAVI | FlexShares Ready Access Variable Income Fund | 8,892 | 36,806 | 413.92% |
| UCI | ETRACS UBS Bloomberg Constant Maturity Commodity Index TR ETN | 21,138 | 82,606 | 390.79% |
| KBWB | PowerShares KBW Bank Portfolio | 158,414 | 613,176 | 387.07% |
| PSCC | PowerShares S&P SmallCap Consumer Staples Portfolio | 28,953 | 98,536 | 340.34% |
| PBJ | PowerShares Dynamic Food & Beverage Portfolio | 55,743 | 145,687 | 261.35% |
| CWI | SPDR MSCI ACWI ex-US ETF | 212,606 | 602,156 | 283.23% |
| EWMC | Guggenheim S&P Midcap 400 Equal Weight ETF | 8,844 | 24,013 | 271.53% |
| FEX | First Trust Large Cap Core AlphaDEX Fund | 171,848 | 478,147 | 278.24% |
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.
