ETF Fund Flows: IWM Bleeds $1 Billion

IndexUniverse.com

Investors pulled more than $1 billion out of the Russell 2000 Index Fund (NYSEArca:IWM - News) yesterday, as stocks gained slightly on incipient hopes the Federal Reserve might step in again to help stimulate a still-sluggish economy.

IWM was the main reason net inflows were negative, with net redemptions totaling $93.3 million. Overall, total assets in U.S.-listed ETFs rose to more than $1.115 trillion from $1.111 trillion on Tuesday, according to data compiled by IndexUniverse.

The Dow Jones industrial average gained 33.73 points to close at 12,491.61, helped by testimony to U.S. lawmakers from Fed Chairman Ben Bernanke that the central bank was open to new measures aimed at stoking growth. The U.S. recovery has flagged in recent months due partly to high oil prices and disruptions related to Japan's calamitous earthquake and tsunami on March 11.

A number of sector funds from State Street Global Advisors followed IWM on the redemptions list, beginning with the Industrial Select SPDR ETF (NYSEArca:XLI - News), which had outflows of $221.4 million.

Also, the SPDR S&P Retail ETF (NYSEArca:XRT - News) again had big flows:nearly $159 million worth of redemptions that amounted to 20 percent of its assets. It ended yesterday’s session with $616.7 million.

Creations

Yesterday’s most popular fund was the PowerShares QQQ Trust (NasdaqGM:QQQ - News) of Nasdaq’s 100 biggest nonfinancial companies. The Q’s lost almost $260 million, ending Wednesday’s session with just over $25 billion in assets.

The SPDR S&P 500 ETF (NYSEArca:SPY - News) was second on IndexUniverse’s “Top 10 Creations” list, gathering $237.3 million in new assets. It ended yesterday with $95.74 billion in assets.

Additionally, the ProShares UltraShort 20+ Year Treasury ETF (NYSEArca:TBT - News), the biggest inverse and leveraged fund in the world, recorded creations of $166 million. The double-exposure bearish fund now has $5.88 billion in assets.

The Rydex CurrencyShares Euro ETF (NYSEArca:FXE - News), a bullish bet on the euro against the dollar, had creations that amounted to 35 percent of its assets. The fund gathered $134 million in new assets, lifting money in the fund to almost $522 million.

Also, the Market Vectors Gold Miners ETF (NYSEArca:GDX - News) hauled in more than $77 million, lifting assets to $7.38 billion. The creations came a day after investors plowed more than 1.2 billion into three popular physical precious metals ETFs, including the SPDR Gold Shares (NYSEArca:GLD - News), the iShares Silver Trust (NYSEArca:SLV - News) and the iShares Gold Trust (NYSEArca:IAU - News).

The iShares MSCI Japan Index Fund (NYSEArca:EWJ - News) continued its recent run of asset gathering, pulling in another $57.7 million. It now has $8.08 billion in assets.

Top 10 Creations (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
QQQ PowerShares QQQ 259.74 25,050.35 1%
SPY SPDR S&P 500 237.28 95,741.41 0%
TBT ProShares UltraShort 20+ Year Treasury 166.01 5,882.67 3%
FXE CurrencyShares Euro 134.01 521.95 35%
EWX SPDR S&P Emerging Markets Small Cap 96.24 892.93 12%
XLF Financial Select SPDR 93.76 7,303.07 1%
GDX Market Vectors Gold Miners 77.13 7,384.12 1%
FBT First Trust NYSE Arca Biotechnology 65.03 680.64 11%
EWJ iShares MSCI Japan 57.65 8,083.56 1%
MOO Market Vectors Agribusiness 56.81 5,927.09 1%


Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
IWM iShares Russell 2000 -1,023.99 14,469.60 -7%
XLI Industrial Select SPDR -221.38 3,804.97 -6%
XRT SPDR S&P Retail -158.97 616.69 -20%
DIA SPDR Dow Jones Industrial Average Trust -118.51 10,197.45 -1%
XLP Consumer Staples Select SPDR -97.37 4,170.24 -2%
XOP SPDR S&P Oil & Gas Exploration & Production -47.63 863.32 -5%
TZA Direxion Daily Small Cap Bear 3x -46.41 709.61 -6%
KIE SPDR KBW Insurance -30.74 163.95 -16%
XLK Technology Select SPDR -28.44 7,501.11 0%
RSP Rydex S&P Equal Weight -27.64 3,309.69 -1%


ETF Daily Flows By Asset Class

Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity -879.64 500,658.58 -0.18%
International Equity 306.03 295,508.32 0.10%
U.S. Fixed Income 149.55 150,578.65 0.10%
International Fixed Income - 11,196.41 0.00%
Commodities 8.30 111,514.90 0.01%
Currency 120.66 5,837.17 2.07%
Leveraged 74.67 13,175.91 0.57%
Inverse 135.62 22,706.58 0.60%
Asset Allocation - 938.36 0.00%
Alternatives -8.46 3,480.36 -0.24%
Total: -93.27 1,115,595.23 -0.01%


Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)
1-Day Volume % of Average
GWL SPDR S&P World ex-US 33,168 478,774 1443%
PBS PowerShares Dynamic Media Portfolio 112,904 926,875 821%
ACWX iShares MSCI ACWI ex US 194,811 1,493,278 767%
WPS iShares S&P Developed Ex-US. Property 17,343 104,924 605%
FCHI iShares FTSE China (Hong Kong Listed) 5,247 30,983 590%
IXG iShares S&P Global Financials 34,030 187,919 552%
PHB PowerShares Fundamental High Yield Corporate Bond Portfolio 374,446 1,913,514 511%
GXC SPDR S&P China 127,684 578,975 453%
MLPL UBS E-TRACS 2X Monthly Leveraged Long Alerian MLP Infrastructure ETN 55,258 246,288 446%
INXX EGShares India Infrastructure 12,820 56,715 442%


Top 10 1-Day Performers, Excluding Leverage/Inverse Funds and

Ticker Name 1-Day Performance 1-Day Volume AUM ($, mm)
USV UBS E-TRACS CMCI Silver Total Return ETN 8.20% 6,068 7.67
SLV iShares Silver 5.77% 56,285,349 11,381.81
DBS PowerShares DB Silver 5.76% 80,118 173.66
SIVR ETFS Physical Silver 5.76% 794,708 635.67
SIL Global X Silver Miners 5.65% 1,125,860 460.51
CVOL C-Tracks Exchange-Traded Notes on the Citi Volatility 5.07% 3,375 9.32
GDXJ Market Vectors Junior Gold Miners 4.63% 5,994,062 2,374.40
GWO ELEMENTS Credit Suisse Global Warming ETN 4.61% 1,377 0.00
EGPT Market Vectors Egypt 4.50% 237,088 72.85
CTNN iPath Pure Beta Cotton ETN 4.23% 2,900 5.30

Bottom 10 1-Day Performers, Excluding Leverage/Inverse Funds and
Ticker Name 1-Day Performance 1-Day Volume AUM ($, mm)
FWDI Madrona Forward International -5.39% 5,302 15.32
EEH ELEMENTS Linked to SPECTRUM Large Cap U.S. Momentum ETN -4.13% 3,600 0.00
TWON IQ Taiwan Small Cap -3.14% 4,400 4.19
DCNG iPath Pure Beta Seasonal Natural Gas ETN -2.97% 5,300 5.54
HKK IQ Hong Kong Small Cap -2.90% 2,145 1.89
LSC ELEMENTS S&P Commodity Trends Indicator - Total Return ETN -2.73% 374,357 0.00
COLX Market Vectors Colombia -2.45% 1,966 1.95
SGAR iPath Pure Beta Sugar ETN -2.24% 1,422 7.95
FNIO iShares FTSE NAREIT Industrial/Office Capped -2.19% 1,400 13.11
MEXS Global X Mexico Small Cap -1.97% 2,125 0.70

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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