Weekly Flows: Treasurys Favored, Junk Dumped
Investors bought up Treasury ETFs, while dumping their holdings of the largest junk bond ETFs in the week ending Thursday, Jan. 14.
The bloodbath in stocks continued in the second trading week of the year, as the S&P 500 revisited the lows from 2015, around the 1,867 level. In turn, investors cashed out of their U.S. equity ETFs to the tune of $2.5 billion. In total, U.S.-listed ETFs of all kinds saw outflows of $1.4 billion in the week ending Thursday, Jan 14.
As stocks fell precipitously, investors sought the safety of safe havens such as Treasuys. The iShares 7-10 Year Treasury Bond ETF (IEF | A-55) and the iShares 20+ Year Treasury Bond ETF (TLT | A-83) were big winners, with inflows of $870 million and $727 million, respectively.
However, while fixed-income ETFs on the whole saw net inflows, there were some ugly areas, such as junk bonds. Investors dumped high-yield funds aggressively, including the iShares iBoxx $ High Yield Corporate Bond ETF (HYG | B-68) and the SPDR Barclays High Yield ETF (JNK | B-68), which had outflows of $1.3 billion and $567 million, respectively.
Another notable loser was the WisdomTree Europe Hedged Equity ETF (HEDJ | B-49), the inflows leader of last year. It had outflows of nearly $400 million in the latest week.
In contrast, one notable winner in the week was the Energy Select SPDR (XLE | A-91), which had inflows of $550 million despite a fresh 12-year low in oil prices below $30/barrel.
Top 10 Creations (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
IEF | iShares 7-10 Year Treasury Bond | 870.02 | 8,914.20 | 10.82% |
VOO | Vanguard S&P 500 | 803.01 | 39,150.93 | 2.09% |
TLT | iShares 20+ Year Treasury Bond | 727.00 | 7,079.07 | 11.45% |
XLE | Energy Select SPDR | 550.34 | 11,384.51 | 5.08% |
SHY | iShares 1-3 Year Treasury Bond | 532.92 | 12,069.66 | 4.62% |
MDY | SPDR S&P MidCap 400 | 514.34 | 13,857.93 | 3.85% |
BND | Vanguard Total Bond Market | 478.62 | 28,102.79 | 1.73% |
LQD | iShares iBoxx $ Investment Grade Corporate Bond | 457.37 | 24,154.81 | 1.93% |
VXUS | Vanguard Total International Stock | 315.65 | 4,842.88 | 6.97% |
AGG | iShares Core U.S. Aggregate Bond | 304.36 | 31,100.18 | 0.99% |
Top 10 Redemptions (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
SPY | SPDR S&P 500 | -1,738.80 | 162,844.07 | -1.06% |
HYG | iShares iBoxx $ High Yield Corporate Bond | -1,263.63 | 12,935.91 | -8.90% |
JNK | SPDR Barclays High Yield Bond | -567.01 | 8,687.24 | -6.13% |
HEDJ | WisdomTree Europe Hedged Equity | -399.40 | 15,088.81 | -2.58% |
IVV | iShares Core S&P 500 | -395.60 | 65,705.15 | -0.60% |
VWO | Vanguard FTSE Emerging Markets | -294.42 | 31,215.34 | -0.93% |
XLK | Technology Select SPDR | -286.00 | 11,979.97 | -2.33% |
IWF | iShares Russell 1000 Growth | -258.12 | 29,210.13 | -0.88% |
DXJ | WisdomTree Japan Hedged Equity | -252.39 | 13,100.38 | -1.89% |
VTI | Vanguard Total Stock Market | -240.45 | 53,467.35 | -0.45% |
ETF Weekly Flows By Asset Class
Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
U.S. Equity | -2,534.91 | 664,785.72 | -0.38% |
International Equity | -1,876.52 | 269,978.47 | -0.70% |
U.S. Fixed Income | 2,481.34 | 199,248.57 | 1.25% |
International Fixed Income | -116.44 | 16,689.90 | -0.70% |
Commodities | 292.84 | 28,065.94 | 1.04% |
Currency | -104.85 | 805.85 | -13.01% |
Leveraged | 640.45 | 56,633.34 | 1.13% |
Inverse | 46.36 | 11,465.55 | 0.40% |
Asset Allocation | -132.19 | 3,459.96 | -3.82% |
Alternatives | -85.45 | 7,146.68 | -1.20% |
Total: | -1,389.36 | 1,258,279.99 | -0.11% |
Top 10 Volume Surprises, Funds >$50 mm AUM
Ticker | Name | Average Volume (30 Day) | 1 Week Average Volume | % of Average |
EWRI | Guggenheim Russell 1000 Equal Weight | 6,246 | 20,925 | 335.03% |
KBWD | PowerShares KBW High Dividend Yield Financial | 122,658 | 359,692 | 293.25% |
PDN | PowerShares FTSE RAFI Developed Markets ex-U.S. Small-Mid | 46,430 | 133,762 | 288.09% |
FUTY | Fidelity MSCI Utilities | 78,679 | 255,957 | 325.32% |
ALTS | ProShares Morningstar Alternatives Solution | 10,612 | 21,957 | 206.92% |
EQL | ALPS Equal Weight | 10,217 | 21,262 | 208.11% |
JKF | iShares Morningstar Large-Cap Value | 25,820 | 46,183 | 178.86% |
KBWY | PowerShares KBW Premium Yield Equity REIT | 23,220 | 65,110 | 280.41% |
FXU | First Trust Utilities AlphaDEX | 255,882 | 481,613 | 188.22% |
PSI | PowerShares Dynamic Semiconductors | 27,805 | 56,295 | 202.46% |
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
OLO | DB Crude Oil Long ETN | 17.91% | 420,471 | 13.85 |
CVOL | C-Tracks Citi Volatility ETN | 11.18% | 1,622,421 | 4.08 |
THD | iShares MSCI Thailand Capped | 5.62% | 1,187,104 | 207.83 |
VXZ | iPath S&P 500 VIX Mid-Term Futures ETN | 4.86% | 4,106,560 | 45.20 |
VXUP | AccuShares Spot CBOE VIX Up Shares | 4.68% | 5,186 | 2.48 |
VIXM | ProShares VIX Mid-term | 4.46% | 206,775 | 30.66 |
VIIZ | VelocityShares VIX Mid Term ETN | 3.76% | 9,088 | 0.68 |
VIIX | VelocityShares VIX Short Term ETN | 3.04% | 3,491,523 | 11.40 |
VXX | iPath S&P 500 VIX Short-Term Futures ETN | 2.92% | 567,309,266 | 670.95 |
VIXY | ProShares VIX Short-Term | 2.87% | 34,952,016 | 101.97 |
Bottom 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
GAZ | iPath Bloomberg Natural Gas Subindex Total Return ETN | -16.78% | 160,554 | 4.32 |
PGM | iPath Bloomberg Platinum Subindex Total Return ETN | -15.93% | 5,679 | 8.06 |
GRN | iPath Global Carbon ETN | -13.70% | 26,320 | 2.77 |
SILJ | PureFunds ISE Junior Silver (Small Cap Miners/Explorers) | -13.60% | 51,842 | 3.14 |
SGDM | Sprott Gold Miners | -13.01% | 290,567 | 96.19 |
GLDX | Global X Gold Explorers | -12.53% | 574,972 | 24.80 |
IOIL | IQ Global Oil Small Cap | -12.45% | 3,653 | 2.19 |
GDXJ | Market Vectors Junior Gold Miners | -12.35% | 38,629,074 | 1,225.02 |
SGDJ | Sprott Junior Gold Miners | -12.16% | 64,370 | 23.39 |
GDX | Market Vectors Gold Miners | -11.76% | 298,596,572 | 4,288.00 |
Top 10 YTD Performers
Ticker | Name | YTD Performance | Weekly Performance | AUM ($, mm) |
CVOL | C-Tracks Citi Volatility ETN | 32.72% | 1.21% | 4.08 |
VIIX | VelocityShares VIX Short Term ETN | 21.11% | -2.12% | 11.40 |
VIXY | ProShares VIX Short-Term | 21.01% | -2.18% | 101.97 |
VXX | iPath S&P 500 VIX Short-Term Futures ETN | 20.85% | -2.17% | 670.95 |
VXUP | AccuShares Spot CBOE VIX Up Shares | 20.66% | -0.13% | 2.48 |
OLO | DB Crude Oil Long ETN | 19.44% | -13.77% | 13.85 |
VIXM | ProShares VIX Mid-term | 10.58% | 1.08% | 30.66 |
VXZ | iPath S&P 500 VIX Mid-Term Futures ETN | 10.41% | 1.40% | 45.20 |
VIIZ | VelocityShares VIX Mid Term ETN | 9.13% | 2.62% | 0.68 |
BTAL | QuantShares U.S. Market Neutral Anti-Beta | 6.72% | 1.61% | 43.04 |
Bottom 10 YTD Performers
Ticker | Name | YTD Performance | Weekly Performance | AUM ($, mm) |
MLPO | Credit Suisse S&P MLP ETN | -27.90% | -12.70% | 63.95 |
BBC | BioShares Biotechnology Clinical Trials | -24.96% | -8.44% | 17.46 |
CNCR | Loncar Cancer Immunotherapy | -21.67% | -8.02% | 13.19 |
CNXT | Market Vectors ChinaAMC SME-ChiNext | -21.46% | -2.29% | 41.39 |
KFYP | KraneShares CSI New China | -21.17% | -4.64% | 2.60 |
ASHS | Deutsche X-trackers Harvest CSI 500 China-A Shares Small Cap ETF | -21.08% | -5.02% | 33.15 |
AMZA | InfraCap Active MLP | -19.65% | -8.26% | 16.06 |
GRN | iPath Global Carbon ETN | -19.39% | -11.31% | 2.77 |
SBIO | ALPS Medical Breakthroughs ETF | -19.33% | -6.19% | 128.30 |
MLPG | ETRACS Alerian Natural Gas MLP ETN | -19.21% | -9.16% | 16.79 |
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.