XLK, COWZ Power Massive Weekly ETF Inflows

XLK, COWZ Power Massive Weekly ETF Inflows

The $54.4 billion of net inflows last week may have been boosted by so-called heartbeat trades.

sumit
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Senior ETF Analyst
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Reviewed by: etf.com Staff
,
Edited by: Ron Day

Investors poured $54.4 billion flowed into U.S.-listed exchange-traded funds last week, bringing year-to-date inflows to $324.7 billion.

U.S. equity exchange-traded funds led the charge, with $46.1 billion of inflows, followed by international equity ETFs with inflows of $4.1 billion and U.S. fixed income ETFs with inflows of $3.5 billion.

Notable flows winners included the Technology Select Sector SPDR Fund (XLK) and the Pacer U.S. Cash Cows 100 ETF (COWZ), which had inflows of $8.1 billion and $3.2 billion, respectively.

While impressive, the inflows for these two funds and others on the weekly top inflows charts were likely beefed up by tax-related, so-called heartbeat trades, a technique used by fund managers to minimize capital gains distributions and maximize tax efficiency. 

An unusual amount of attention was paid to last week’s rebalancing of XLK, in which it exchanged $10 billion of worth of shares of Apple for Nvidia. A heartbeat trade may have been designed to reduce the capital gains taxes associated with the Apple shares which were sold. 

That means that last week’s $8.1 billon inflow for XLK will likely be matched by a similar-sized outflow this week. 

Heartbeat trades can muddle the picture and make it harder to interpret inflows and outflows, and with so many funds rebalancing ahead of the end of the quarter, the flows charts will feature some big flows numbers that investors probably shouldn’t read too deeply into. 

A full list of inflows and outflows for last week is below: 


Top 10 Creations (All ETFs)

TickerNameNet Flows ($, mm)AUM ($, mm)AUM % Change<
IVViShares Core S&P 500 ETF9,693.50486,768.181.99
XLKTechnology Select Sector SPDR Fund8,102.4979,609.3610.18
VUGVanguard Growth ETF6,217.69139,840.054.45
COWZPacer U.S. Cash Cows 100 ETF3,242.3926,394.4812.28
SPHQInvesco S&P 500 Quality ETF3,136.5613,101.1323.94
VXFVanguard Extended Market ETF2,765.9920,908.6613.23
MOATVanEck Morningstar Wide Moat ETF2,259.8316,739.7913.50
VOOVanguard 500 Index Fund1,956.44478,812.770.41
SMHVanEck Semiconductor ETF1,805.5825,274.647.14
VTIVanguard Total Stock Market ETF1,665.18411,055.950.41



 

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($, mm)AUM ($, mm)AUM % Change
SPYSPDR S&P 500 ETF Trust-11,956.61527,001.91-2.27
SOXLDirexion Daily Semiconductor Bull 3X Shares-762.1710,899.88-6.99
HYGiShares iBoxx USD High Yield Corporate Bond ETF-484.5517,011.66-2.85
XBISPDR S&P Biotech ETF-454.866,460.30-7.04
IWMiShares Russell 2000 ETF-388.2059,165.10-0.66
XLUUtilities Select Sector SPDR Fund-315.6413,825.02-2.28
FBTCFidelity Wise Origin Bitcoin Fund-306.2710,918.15-2.81
SRLNSPDR Blackstone Senior Loan ETF-288.716,312.05-4.57
TQQQProShares UltraPro QQQ-276.3124,066.45-1.15
BARGraniteShares Gold Trust-262.68798.05-32.92



 

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
Alternatives49.137,926.180.62%
Asset Allocation80.3118,488.980.43%
Commodities199.96143,786.920.14%
Currency-596.8760,396.17-0.99%
International Equity4,078.191,507,734.690.27%
International Fixed Income450.59204,895.140.22%
Inverse352.5913,455.882.62%
Leveraged122.93107,808.280.11%
U.S. Equity46,095.565,754,799.350.80%
U.S. Fixed Income3,534.191,420,265.130.25%
Total:54,366.589,239,556.720.59%



 

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
Alternatives944.307,728.5512.22%
Asset Allocation425.1217,901.462.37%
Commodities-4,714.06144,214.38-3.27%
Currency14,099.1063,250.9622.29%
International Equity43,484.351,498,971.392.90%
International Fixed Income24,355.81199,200.7712.23%
Inverse115.8413,655.750.85%
Leveraged-3,252.5697,054.07-3.35%
U.S. Equity180,182.905,530,349.913.26%
U.S. Fixed Income69,021.701,386,042.344.98%
Total:324,662.508,958,369.583.62%



 

Top 10 Volume Surprises, Funds >$50 mm AUM

TickerNameAverage Volume
(30 Day)
1 Week Average
Volume
% of Average
MSTIMadison Short-Term Strategic Income ETF92215,712.001,703.33%%
XHYEBondBloxx USD High Yield Bond Energy Sector ETF10,810143,767.001,329.92%%
GJUNFT Vest U.S. Equity Moderate Buffer ETF - June76,2371,004,716.001,317.88%%
NFLTVirtus Newfleet Multi-Sector Bond ETF42,352510,076.001,204.38%%
TPLETimothy Plan US Large / Mid Cap Core Enhanced ETF2,69332,239.001,197.29%%
PBPInvesco S&P 500 BuyWrite ETF27,748327,268.001,179.41%%
UJULInnovator U.S. Equity Ultra Buffer ETF - July11,820119,046.001,007.19%%
FEDMFlexShares ESG & Climate Developed Markets ex-U.S. Core Index Fund2,22422,030.00990.56%%
DJUNFT Vest U.S. Equity Deep Buffer ETF - June25,534244,272.00956.66%%
FJUNFT Vest U.S. Equity Buffer ETF - June55,458525,414.00947.41%%



 

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

TickerNameWeekly PerformanceWeekly VolumeAUM ($, mm)
PALLabrdn Physical Palladium Shares ETF11.09%589,646263.24
EZAiShares MSCI South Africa ETF5.65%1,209,915260.89
AUMIThemes Gold Miners ETF4.15%3,3051.25
SLViShares Silver Trust4.12%76,930,92413,080.24
SIVRabrdn Physical Silver Shares ETF4.10%3,215,5221,375.93
PINKSimplify Health Care ETF4.04%353,287127.60
BOATSonicShares Global Shipping ETF3.96%71,73955.63
PPLTabrdn Physical Platinum Shares ETF3.95%430,0451,013.41
PLTMGraniteShares Platinum Trust3.95%334,27241.51
EETHProShares Ether Strategy ETF3.73%349,032105.87



 

Top 10 YTD Performers

TickerNameYTD PerformanceWeekly PerformanceAUM ($, mm)
NVDYYieldMax NVDA Option Income Strategy ETF95.64%-3.12%746.76
GBTCGrayscale Bitcoin Trust ETF64.76%-3.68%18,095.80
SMHVanEck Semiconductor ETF51.48%-2.82%25,274.64
BTFValkyrie Bitcoin and Ether Strategy ETF48.10%-2.89%51.34
EETHProShares Ether Strategy ETF46.72%3.73%105.87
ARKYARK 21Shares Active Bitcoin Ethereum Strategy ETF46.56%-1.59%4.97
BITOProShares Bitcoin Strategy ETF46.37%-0.78%1,937.73
BETEProShares Bitcoin & Ether Equal Weight Strategy ETF46.12%1.40%4.42
BETHProShares Bitcoin & Ether Market Cap Weight Strategy ETF45.92%0.35%7.47
MAXISimplify Bitcoin Strategy PLUS Income ETF45.89%-4.03%22.06



 

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.