'XLF' Helps Power Weekly Inflows, 'GLD' Has Big Outflows
Financial sector ETFs were in favor during the past week, while physically backed 'GLD' was out of favor.
When it comes to flows, ETFs closed out August on a strong note. According to FactSet, U.S.-listed exchange-traded funds had inflows of $5.6 billion in the week ending Thursday, Sept. 1―the eighth-straight week of positive flows.
U.S. equity ETFs were the biggest winners, with inflows of $4.4 billion. That was followed by U.S. fixed-income ETFs, with inflows of $800 million and international equity ETFs, with inflows of $750 million.
On the other hand, commodity ETFs had outflows of $740 million, and international fixed-income ETFs had outflows of a modest $50 million.
Financials ETFs See Inflows
When it comes to individual ETFs, the SPDR S&P 500 ETF (SPY) led the pack, with creations of $2.4 billion. Two financials ETFs also saw strong interest: the Financial Select Sector SPDR Fund (XLF) and the iShares U.S. Financials ETF (IYF), with creations of $340 million and $240 million, respectively.
Another notable winner in terms of flows was the VanEck Vectors Gold Miners ETF (GDX), which had creations of nearly $290 million on the week. Gold prices remained in a relatively narrow trading range in the $1,300's during the past week and month.
GLD Outflows Total $790 Million
In contrast to the inflows into GDX, another gold ETF, the SPDR Gold Trust (GLD), saw sizable outflows during the week. GLD's redemptions of $790 million were enough to put it at No. 2 on the outflows list.
At the No. 1 spot was the PowerShares QQQ Trust (QQQ), with outflows of $850 million, and the iShares 20+ Year Treasury Bond ETF (TLT), with outflows of $310 million, took the No. 3 spot.
Expectations of a Fed rate hike sometime in the next few months have grown in recent weeks, pushing yields on long-maturity bonds higher and prices for ETFs holding those bonds lower.
Other fixed-income ETFs to see redemptions during the week include the iShares iBoxx Investment Grade Corporate Bond ETF (LQD), with outflows of $170 million; the iShares iBoxx High Yield Corporate Bond ETF (HYG), with outflows of $150 million; and the PIMCO 25+ Year Zero Coupon US Treasury Index ETF (ZROZ) w, ith outflows of $120 million.
For a full list of this week's inflows and outflows leaders, see the tables below:
Top 10 Creations (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
SPY | SPDR S&P 500 ETF Trust | 2,398.21 | 199,482.43 | 1.22% |
XLF | Financial Select Sector SPDR Fund | 343.55 | 16,372.02 | 2.14% |
GDX | VanEck Vectors Gold Miners ETF | 286.88 | 9,588.77 | 3.08% |
XLK | Technology Select Sector SPDR Fund | 259.07 | 13,075.60 | 2.02% |
IYF | iShares U.S. Financials ETF | 238.92 | 1,382.13 | 20.90% |
MDY | SPDR S&P Midcap 400 ETF Trust | 235.52 | 17,405.71 | 1.37% |
TIP | iShares TIPS Bond ETF | 232.05 | 18,482.53 | 1.27% |
VOO | Vanguard S&P 500 Index Fund | 220.77 | 51,166.12 | 0.43% |
VWO | Vanguard FTSE Emerging Markets ETF | 210.27 | 42,202.80 | 0.50% |
VTI | Vanguard Total Stock Market Index Fund | 202.95 | 64,577.59 | 0.32% |
Top 10 Redemptions (All ETFs)
Ticker | Name | Net Flows ($,mm) | AUM ($, mm) | AUM % Change |
QQQ | PowerShares QQQ Trust | -851.19 | 39,614.25 | -2.10% |
GLD | SPDR Gold Trust | -790.91 | 39,465.07 | -1.96% |
TLT | iShares 20+ Year Treasury Bond ETF | -308.08 | 7,875.56 | -3.76% |
IWB | iShares Russell 1000 ETF | -187.47 | 16,139.80 | -1.15% |
LQD | iShares iBoxx $ Investment Grade Corporate Bond ETF | -172.79 | 32,711.86 | -0.53% |
HYG | iShares iBoxx $ High Yield Corporate Bond ETF | -146.93 | 16,454.40 | -0.89% |
IYK | iShares U.S. Consumer Goods ETF | -139.84 | 705.17 | -16.55% |
ZROZ | PIMCO 25+ Year Zero Coupon US Treasury Index ETF | -118.02 | 253.16 | -31.79% |
DUST | Direxion Daily Gold Miners Bear 3x Shares | -111.45 | 480.74 | -18.82% |
IVV | iShares Core S&P 500 ETF | -109.41 | 78,650.02 | -0.14% |
ETF Weekly Flows By Asset Class
Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
U.S. Equity | 4,373.64 | 1,329,263.25 | 0.33% |
International Equity | 751.59 | 505,168.27 | 0.15% |
U.S. Fixed Income | 799.19 | 403,734.96 | 0.20% |
International Fixed Income | -53.19 | 40,838.71 | -0.13% |
Commodities | -741.94 | 73,754.47 | -1.01% |
Currency | -1.02 | 1,416.98 | -0.07% |
Leveraged | 510.16 | 24,178.93 | 2.11% |
Inverse | -57.79 | 19,917.97 | -0.29% |
Asset Allocation | 28.71 | 6,450.28 | 0.45% |
Alternatives | 30.31 | 4,526.55 | 0.67% |
Total: | 5,639.66 | 2,409,250.38 | 0.23% |
Top 10 Volume Surprises, Funds >$50 mm AUM
Ticker | Name | Average Volume (30 Day) | 1 Week Average Volume | % of Average |
JPEU | JPMorgan Diversified Return Europe Equity ETF | 473 | 2,500 | 529.08% |
IXG | iShares Global Financials ETF | 47,097 | 215,928 | 458.48% |
FJP | First Trust Japan AlphaDEX Fund | 28,254 | 100,774 | 356.67% |
GXG | Global X MSCI Colombia ETF | 90,031 | 292,951 | 325.39% |
MXI | iShares Global Materials ETF | 46,950 | 127,182 | 270.89% |
BSCL | Guggenheim BulletShares 2021 Corporate Bond ETF | 111,361 | 267,292 | 240.02% |
STOT | SPDR DoubleLine Short Duration Total Return Tactical | 520 | 1,753 | 336.76% |
DBV | PowerShares DB G10 Currency Harvest Fund | 15,748 | 25,514 | 162.01% |
RYU | Guggenheim S&P 500 Equal Weight Utilities ETF | 37,777 | 65,676 | 173.85% |
DBC | PowerShares DB Commodity Index Tracking Fund | 2,288,480 | 4,072,999 | 177.98% |
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.