Weekly Inflows Total $9B Amid Equity Highs
ETF inflows for 2019 remain ahead of last year’s pace.
Equity ETFs continued to benefit from record highs in U.S. stocks this week. In addition to price gains, investors plowed $9.3 billion into U.S.-listed ETFs during the week ending Thursday, Nov. 14, bringing total assets under management to $4.22 trillion.
Year-to-date inflows now stand at $246.6 billion, ahead of last year’s $233.3 billion pace.
A net $4.7 billion flowed into U.S. equity ETFs this week as the S&P 500 topped 3,100 for the first time amid growing hopes of a “phase one” trade deal between the U.S. and China. The index’s year-to-date gain reached a whopping 26.5%.
The Invesco QQQ Trust (QQQ), the Invesco S&P 500 Low Volatility ETF (SPLV) and the SPDR Dow Jones Industrial Average ETF Trust (DIA) were the top U.S. equity ETFs of the week in terms of inflows.
Meanwhile, international equity ETFs also saw strong interest. Inflows for that segment were about $4.9 billion during the period. Funds like the iShares Core MSCI EAFE ETF (IEFA) and the iShares Core MSCI Europe ETF (IEUR) did particularly well.
Rates Flatline
With risk appetite growing and stocks on the rise, there wasn’t much demand for fixed income ETFs. In fact, investors pulled $485 million out of U.S. fixed income ETFs as interest rates flatlined. Fed Chairman Powell said this week that it was unlikely the central bank would hike its benchmark interest rate unless inflation moved noticeably higher. Similarly, the Fed is unlikely to cut further unless the economy materially weakens.
The iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD), the iShares iBoxx USD High Yield Corporate Bond ETF (HYG) and the iShares 20+ Year Treasury Bond ETF (TLT) were among the fixed income flows losers of the week.
For a full list of this week’s top inflows and outflows, see the tables below:
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| IEFA | iShares Core MSCI EAFE ETF | 1,752.39 | 70,260.84 | 2.49% |
| QQQ | Invesco QQQ Trust | 995.29 | 82,548.94 | 1.21% |
| SPLV | Invesco S&P 500 Low Volatility ETF | 702.46 | 13,203.37 | 5.32% |
| DIA | SPDR Dow Jones Industrial Average ETF Trust | 444.65 | 22,706.51 | 1.96% |
| XLU | Utilities Select Sector SPDR Fund | 436.77 | 11,659.34 | 3.75% |
| IEUR | iShares Core MSCI Europe ETF | 435.50 | 3,771.04 | 11.55% |
| BBRE | JPMorgan BetaBuilders MSCI U.S. REIT ETF | 385.90 | 1,065.22 | 36.23% |
| VTV | Vanguard Value ETF | 352.74 | 53,485.84 | 0.66% |
| IVV | iShares Core S&P 500 ETF | 341.94 | 194,948.14 | 0.18% |
| XLF | Financial Select Sector SPDR Fund | 330.72 | 25,406.28 | 1.30% |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
| SPY | SPDR S&P 500 ETF Trust | -1,910.48 | 279,908.35 | -0.68% |
| LQD | iShares iBoxx USD Investment Grade Corporate Bond ETF | -467.15 | 34,286.43 | -1.36% |
| HYG | iShares iBoxx USD High Yield Corporate Bond ETF | -459.86 | 18,637.62 | -2.47% |
| MDY | SPDR S&P Midcap 400 ETF Trust | -425.54 | 18,850.21 | -2.26% |
| XLK | Technology Select Sector SPDR Fund | -375.51 | 24,783.94 | -1.52% |
| XLV | Health Care Select Sector SPDR Fund | -342.55 | 18,217.58 | -1.88% |
| TLT | iShares 20+ Year Treasury Bond ETF | -310.90 | 17,044.89 | -1.82% |
| VCIT | Vanguard Intermediate-Term Corporate Bond ETF | -271.72 | 24,820.67 | -1.09% |
| SPIB | SPDR Portfolio Intermediate Term Corporate Bond ETF | -217.65 | 4,967.30 | -4.38% |
| XLE | Energy Select Sector SPDR Fund | -213.64 | 10,446.60 | -2.05% |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | 4,654.43 | 2,406,250.10 | 0.19% |
| International Equity | 4,881.08 | 844,756.40 | 0.58% |
| U.S. Fixed Income | -484.99 | 734,984.78 | -0.07% |
| International Fixed Income | 353.56 | 86,401.64 | 0.41% |
| Commodities ETFs | -280.33 | 78,788.73 | -0.36% |
| Currency | -20.15 | 1,412.70 | -1.43% |
| Leveraged | 219.88 | 36,820.15 | 0.60% |
| Inverse | -125.77 | 12,151.70 | -1.03% |
| Asset Allocation | 15.35 | 10,419.81 | 0.15% |
| Alternatives | 57.40 | 4,705.15 | 1.22% |
| Total: | 9,270.45 | 4,216,691.15 | 0.22% |
Asset Classes (Year-to-Date)
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| U.S. Equity | 98,419.20 | 2,406,250.10 | 4.09% |
| International Equity | 11,168.51 | 844,756.40 | 1.32% |
| U.S. Fixed Income | 112,146.99 | 734,984.78 | 15.26% |
| International Fixed Income | 17,042.45 | 86,401.64 | 19.72% |
| Commodities ETFs | 8,897.17 | 78,788.73 | 11.29% |
| Currency | -379.00 | 1,412.70 | -26.83% |
| Leveraged | -7,412.53 | 36,820.15 | -20.13% |
| Inverse | 5,245.03 | 12,151.70 | 43.16% |
| Asset Allocation | 447.32 | 10,419.81 | 4.29% |
| Alternatives | 1,065.27 | 4,705.15 | 22.64% |
| Total: | 246,640.43 | 4,216,691.15 | 5.85% |
Top 10 Volume Surprises, Funds >$50 mm AUM
| Ticker | Name | Average Volume (30 Day) | 1 Week Average Volume | % of Average |
| HOLD | AdvisorShares Sage Core Reserves ETF | 8,539 | 62,511 | 732.10% |
| IBDC | iShares iBonds Mar 2020 Corporate ETF | 23,689 | 108,109 | 456.37% |
| JQUA | JPMorgan U.S. Quality Factor ETF | 11,370 | 51,157 | 449.93% |
| FTVA | Aptus Fortified Value ETF | 23,365 | 124,953 | 534.79% |
| IMTB | iShares Core 5-10 Year USD Bond ETF | 14,312 | 52,911 | 369.70% |
| INKM | SPDR SSGA Income Allocation ETF | 19,802 | 73,919 | 373.29% |
| GRI | Cohen & Steers Global Realty Majors ETF | 2,764 | 10,579 | 382.66% |
| HTRB | Hartford Total Return Bond ETF | 27,933 | 90,597 | 324.33% |
| IBDD | iShares iBonds Mar 2023 Term Corporate ETF | 4,253 | 13,995 | 329.03% |
| OPER | ClearShares Ultra-Short Maturity ETF | 11,597 | 64,446 | 555.71% |
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| NIB | iPath Bloomberg Cocoa Subindex Total Return ETN | 8.41% | 507,813 | 26.77 |
| PAK | Global X MSCI Pakistan ETF | 4.32% | 232,048 | 45.45 |
| SILJ | ETFMG Prime Junior Silver Miners ETF | 3.60% | 849,160 | 110.44 |
| BDRY | Breakwave Dry Bulk Shipping ETF | 2.86% | 1,972 | 1.69 |
| ITB | iShares U.S. Home Construction ETF | 2.64% | 10,909,592 | 1,293.71 |
| PTF | Invesco DWA Technology Momentum ETF | 2.59% | 62,753 | 203.70 |
| BTEC | Principal Healthcare Innovators Index ETF | 2.57% | 2,322 | 54.00 |
| WCLD | WisdomTree Cloud Computing Fund | 2.55% | 7,468 | 11.21 |
| MOM | AGFiQ U.S. Market Neutral Momentum Fund | 2.54% | 2,473 | 2.38 |
| QMOM | Alpha Architect U.S. Quantitative Momentum ETF | 2.52% | 31,312 | 60.06 |
Top 10 YTD Performers
| Ticker | Name | YTD Performance | Weekly Performance | AUM ($, mm) |
| INR | Market Vectors-Indian Rupee/USD ETN | 57.72% | 0.00% | 0.47 |
| XSD | SPDR S&P Semiconductor ETF | 54.34% | 0.61% | 414.50 |
| FTXL | First Trust Nasdaq Semiconductor ETF | 52.46% | 0.21% | 38.99 |
| SMH | VanEck Vectors Semiconductor ETF | 52.31% | -0.02% | 1,434.69 |
| ITB | iShares U.S. Home Construction ETF | 51.53% | 2.64% | 1,293.71 |
| SOXX | iShares PHLX Semiconductor ETF | 51.32% | -0.10% | 2,106.66 |
| TAN | Invesco Solar ETF | 49.38% | -1.51% | 389.97 |
| CHIS | Global X MSCI China Consumer Staples ETF | 46.25% | -1.06% | 7.49 |
| PSI | Invesco Dynamic Semiconductors ETF | 43.69% | 0.59% | 197.03 |
| PBW | Invesco WilderHill Clean Energy ETF | 43.68% | -0.63% | 183.52 |
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.
