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.
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