Weekly Outflows For ETFs Ahead Of Election

Sumit Roy

Senior ETF Analyst

Oct 30, 2020

Reviewed by: Sumit Roy

Edited by: Sumit Roy

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Investors pulled money out of U.S.-listed ETFs this week amid a steep sell-off in global equities. The S&P 500 tumbled to nearly 10% off its all-time highs ahead of the high anticipated U.S. elections next Tuesday. On net, $4.7 billion came out of ETFs, led by a $4.3 billion outflow from U.S. equity ETFs.

The SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ) were among the biggest asset losers of the period, with redemptions of $4.2 billion and $1.6 billion, respectively.

Meanwhile, U.S. fixed income ETFs also lost assets, as Treasuries sold off on the potential for a "Blue Wave" election outcome, which could lead to big spending packages out of Washington. The iShares Short Treasury Bond ETF (SHV) registered weekly outflows of $410 billion, though it was the iShares iBoxx USD High Yield Corporate Bond ETF (HYG) that led fixed income outflows to the tune of $3 billion.

Weekly Winners

Even as markets plunged and uncertainty reigned, overall ETF outflows were relatively modest. They were held in check by solid inflows into a number of funds, including the SPDR S&P Dividend ETF (SDY), the Vanguard S&P 500 ETF (VOO) and the iShares Core U.S. Aggregate Bond ETF (AGG), each of which took in more than $500 million.

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
SDY	SPDR S&P Dividend ETF	1,067.30	15,745.74	6.78%
VOO	Vanguard S&P 500 ETF	740.30	157,286.99	0.47%
AGG	iShares Core U.S. Aggregate Bond ETF	541.25	81,734.87	0.66%
VXUS	Vanguard Total International Stock ETF	462.24	28,260.24	1.64%
BND	Vanguard Total Bond Market ETF	386.28	64,108.78	0.60%
MBB	iShares MBS ETF	374.70	23,829.24	1.57%
VCSH	Vanguard Short-Term Corporate Bond ETF	364.52	34,127.37	1.07%
TQQQ	ProShares UltraPro QQQ	353.15	8,142.32	4.34%
SCHO	Schwab Short-Term U.S. Treasury ETF	295.90	7,850.22	3.77%
XLK	Technology Select Sector SPDR Fund	265.74	32,812.80	0.81%

Top 10 Redemptions (All ETFs)

Ticker	Name	Net Flows ($,mm)	AUM ($, mm)	AUM % Change
SPY	SPDR S&P 500 ETF Trust	-4,184.14	280,255.43	-1.49%
HYG	iShares iBoxx USD High Yield Corporate Bond ETF	-3,029.35	24,669.07	-12.28%
QQQ	Invesco QQQ Trust	-1,633.46	130,921.16	-1.25%
BBEU	JPMorgan BetaBuilders Europe ETF	-632.99	3,805.34	-16.63%
GLD	SPDR Gold Trust	-447.56	75,623.38	-0.59%
VCIT	Vanguard Intermediate-Term Corporate Bond ETF	-411.60	39,497.68	-1.04%
SHV	iShares Short Treasury Bond ETF	-409.53	19,956.85	-2.05%
BKLN	Invesco Senior Loan ETF	-316.17	3,995.69	-7.91%
SPLV	Invesco S&P 500 Low Volatility ETF	-273.07	8,189.22	-3.33%
XLF	Financial Select Sector SPDR Fund	-239.98	17,061.06	-1.41%

ETF Weekly Flows By Asset Class

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	-4,317.31	2,594,762.65	-0.17%
International Equity	623.66	859,522.42	0.07%
U.S. Fixed Income	-1,081.49	937,931.74	-0.12%
International Fixed Income	-26.10	112,837.15	-0.02%
Commodities	-466.96	144,862.20	-0.32%
Currency	-2.40	1,926.84	-0.12%
Leveraged	690.12	34,945.15	1.97%
Inverse	-108.14	14,585.68	-0.74%
Asset Allocation	68.46	11,842.95	0.58%
Alternatives	-175.92	5,635.42	-3.12%
Total:	-4,796.09	4,718,852.21	-0.10%

Asset Classes (Year-to-Date)

	Net Flows ($, mm)	AUM ($, mm)	% of AUM
U.S. Equity	90,934.04	2,594,762.65	3.50%
International Equity	22,673.41	859,522.42	2.64%
U.S. Fixed Income	159,618.04	937,931.74	17.02%
International Fixed Income	16,938.99	112,837.15	15.01%
Commodities	45,290.27	144,862.20	31.26%
Currency	589.59	1,926.84	30.60%
Leveraged	2,774.05	34,945.15	7.94%
Inverse	13,183.01	14,585.68	90.38%
Asset Allocation	2,341.83	11,842.95	19.77%
Alternatives	76.55	5,635.42	1.36%
Total:	354,419.77	4,718,852.21	7.51%

Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded

Ticker	Name	Weekly Performance	Weekly Volume	AUM ($, mm)
VXX	iPath Series B S&P 500 VIX Short Term Futures ETN	25.08%	176,834,096	1,418.68
VIXY	ProShares VIX Short-Term Futures ETF	24.99%	28,648,153	340.42
VIXM	ProShares VIX Mid-Term Futures ETF	11.00%	349,977	110.07
VXZ	iPath Series B S&P 500 VIX Mid-Term Futures ETN	10.14%	91,636	32.39
XVZ	iPath S&P 500 Dynamic VIX ETN	5.69%	519,955	32.69
MOM	AGFiQ U.S. Market Neutral Momentum Fund	4.85%	23,886	6.24
BTAL	AGFiQ U.S. Market Neutral Anti-Beta Fund	4.22%	278,731	210.95
CLIX	ProShares Long Online/Short Stores ETF	3.11%	108,330	262.81
UNG	United States Natural Gas Fund LP	2.98%	8,754,210	339.02
GOVZ	iShares 25+ Year Treasury STRIPS Bond ETF	2.75%	81,569	3.62

Top 10 YTD Performers

Ticker	Name	YTD Performance	Weekly Performance	AUM ($, mm)
TAN	Invesco Solar ETF	124.22%	-2.90%	1,819.12
XVZ	iPath S&P 500 Dynamic VIX ETN	121.11%	5.69%	32.69
ARKG	ARK Genomic Revolution ETF	103.91%	-2.51%	2,886.14
VIXM	ProShares VIX Mid-Term Futures ETF	101.97%	11.00%	110.07
VXZ	iPath Series B S&P 500 VIX Mid-Term Futures ETN	99.83%	10.14%	32.39
ARKW	ARK Next Generation Internet ETF	99.01%	-3.32%	2,926.62
QCLN	First Trust NASDAQ Clean Edge Green Energy Index Fund	90.99%	-3.79%	749.01
ARKK	ARK Innovation ETF	89.31%	-4.47%	10,012.24
ONLN	ProShares Online Retail ETF	87.38%	0.27%	698.03
PBW	Invesco WilderHill Clean Energy ETF	86.50%	-6.31%	884.03

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

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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.

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Weekly Outflows For ETFs Ahead Of Election

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