Weekly Inflows Total A Monster $24B Thanks To 'SPY'

ETFs saw an explosion of new money come in during the latest week.

sumit
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Senior ETF Analyst
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Reviewed by: Sumit Roy
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Edited by: Sumit Roy

Huge inflows into U.S. equity ETFs―and one ETF in particular―pushed weekly inflows to a monster $23.5 billion. The SPDR S&P 500 ETF (SPY) alone pulled in $12.6 billion in the week ending Thursday, March 2, according to FactSet. The latest wave of cash into ETFs means that year-to-date inflows now stand at a stunning $101.7 billion.

SPY's big weekly haul made up most of the flows into U.S. equity ETFs, which had net creations of $18.2 billion in the period. The S&P 500 relentlessly rallied all week long, hitting a record high of 2,401 on Thursday before pulling back modestly. The index is already up close to 7% for the year after just two short months.

Other ETF segments to see inflows during the week were international equity, with $1.7 billion; U.S. fixed income, with $2.9 billion; international fixed income, with $300 million; and commodities, with $158 million.

Winners Other Than 'SPY'
Though SPY was far and away the inflows leader for the week, there were a few other noteworthy ETFs to make the top 10. The Consumer Staples Select Sector SPDR Fund (XLP) had creations of $615 million, which translates to a 7.2% increase in its assets under management.

On the international front, the iShares Core MSCI EAFE ETF (IEFA) garnered inflows of $723 million. International stocks have largely been overshadowed by their U.S. counterparts so far this year, but IEFA returned a respectable 5.5% to-date in 2017.

Meanwhile, the Vanguard Short-Term Corporate Bond Index Fund (VCSH) and the iShares TIPS Bond ETF (TIP) were a pair of fixed-income ETFs to make the inflows list, with creations of around $288 million each. 

Outflows From Treasury & Volatility ETFs
On the outflows side, the iShares 20+ Year Treasury Bond ETF (TLT) saw redemptions of $412 million, equaling a 7.4% drop in its AUM. Treasurys sold off and interest rates spiked significantly this week, with the 10-year yield jumping from 2.3% to 2.5% in the period.

The iPath S&P 500 VIX Short-Term Futures ETN (VXX) was another flows loser this week. It had redemptions of $217 million, equaling a drop of 16.6% in its assets under management.

A few sector and industry funds to fall out of favor were the Technology Select Sector SPDR Fund (XLK), the iShares U.S. Basic Materials ETF (IYM) and the iShares U.S. Medical Devices ETF (IHI). Outflows from the funds ranged from $135 million to $155 million. 

Finally, two single-country ETFs also made the outflows list. The iShares MSCI Mexico Capped ETF (EWW) and the iShares MSCI Canada ETF (EWC) saw outflows of around $150 million each.

For a full list of this week's top inflows and outflows, see the tables below:

Top 10 Creations (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
SPYSPDR S&P 500 ETF Trust12,566.14249,613.405.30%
IEFAiShares Core MSCI EAFE ETF722.7319,468.553.86%
XLPConsumer Staples Select Sector SPDR Fund614.919,166.827.19%
VOOVanguard S&P 500 Index Fund588.0464,411.250.92%
LQDiShares iBoxx $ Investment Grade Corporate Bond ETF546.6230,608.881.82%
QQQPowerShares QQQ Trust531.0346,127.391.16%
IVViShares Core S&P 500 ETF441.9699,343.910.45%
VUGVanguard Growth Index Fund360.0025,103.161.45%
VCSHVanguard Short-Term Corporate Bond Index Fund288.6017,418.471.68%
TIPiShares TIPS Bond ETF287.0822,670.291.28%

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
TLTiShares 20+ Year Treasury Bond ETF-412.265,195.26-7.35%
IWMiShares Russell 2000 ETF-374.7637,647.65-0.99%
IJHiShares Core S&P Mid-Cap ETF-275.3539,201.68-0.70%
VXXiPath S&P 500 VIX Short-Term Futures ETN-216.791,085.83-16.64%
XLKTechnology Select Sector SPDR Fund-154.7516,756.43-0.92%
EWWiShares MSCI Mexico Capped ETF-150.971,659.92-8.34%
EWCiShares MSCI Canada ETF-149.573,401.74-4.21%
IYMiShares U.S. Basic Materials ETF-141.54770.70-15.52%
IHIiShares U.S. Medical Devices ETF-135.101,069.35-11.22%
IWDiShares Russell 1000 Value ETF-128.8837,350.61-0.34%

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity18,246.041,628,536.721.12%
International Equity1,664.90566,280.380.29%
U.S. Fixed Income2,864.43436,146.820.66%
International Fixed Income300.6043,354.340.69%
Commodities157.6365,247.290.24%
Currency-8.993,033.80-0.30%
Leveraged262.6626,767.700.98%
Inverse153.0216,934.310.90%
Asset Allocation112.106,783.031.65%
Alternatives-214.053,868.87-5.53%
Total:23,538.352,796,953.250.84%

Top 10 Volume Surprises, Funds >$50 mm AUM

TickerNameAverage Volume
(30 Day)
1 Week Average
Volume
% of Average
WBIEWBI Tactical LCG Shares13,95361,397440.03%
WBILWBI Tactical LCS Shares14,03957,859412.12%
WBIGWBI Tactical LCY Shares16,33462,316381.50%
PEJPowerShares Dynamic Leisure & Entertainment Portfolio41,194117,362284.90%
CEMBiShares Emerging Markets Corporate Bond ETF13,06936,237277.28%
WBIIWBI Tactical Income Shares41,918122,561292.38%
IBCDiShares iBonds Mar 2020 Term Corporate ex-Financials ETF18,34446,255252.16%
WBIHWBI Tactical High Income Shares43,242122,445283.16%
IYJiShares U.S. Industrials ETF107,486265,963247.44%
GQREFlexShares Global Quality Real Estate Index Fund11,21129,814265.93%

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 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.