ETF Fund Flows: HYG Leads In Slow Day

IndexUniverse.com

Compared with the multibillion-dollar net flows days we're often reporting, yesterday was a relatively quiet day for ETF investors. The iShares iBoxx High Yield ETF (NYSEArca:HYG - News) topped the list of gainers, with a modest $125 million inflow. Also in the top list of both creations and redemptions were the dueling S'P 500 funds, the iShares S'P 500 (NYSEArca:IVV - News) gaining $110 million, while the behemoth SPDR S'P 500 (NYSEArca:SPY - News) lost $227 million.

While there may be no barnburners on an absolute basis, a few funds had a surprisingly high amount of activity for their existing asset base. The mega-cap iShares Russell Top 200 (NYSEArca:IWL - News) had net flows of $71 million, a 41 percent increase in assets, while the comparable value version of that index, the iShares Russell Top 200 Value (NYSEArca:IWX - News), had a nearly identical redemption of $73 million, for a 53 percent haircut. Clearly, someone thinks the time for mega-cap value is over. Both funds also topped the outlier volume list yesterday as well, trading around the $2.5 million share level. Not bad for funds that regularly trade less than 200,000 shares a day.

Another volume surprise of note was a million-share day in the PowerShares DB Energy ETF (NYSEArca:DBE - News). This is the "optimum yield" version of futures-based energy exposure from the firm, and while it often trades less than 100,000 shares a day, clearly someone's starting to notice that it's had a great year:Year-to-date the fund is up 6.30 percent, versus 5.13 percent  for the S'P GSCI Energy Index.  The strategy of picking and choosing exposure points on the futures curve seems to be paying off.

The top performing nonleveraged ETFs yesterday were all in the biotech sector, as biotech stocks were on a tear ahead of Amgen's earnings announcement today, and in the wake of an unsolicited offer by GlaxoSmithKline to buy out Human Genome. That offer popped HGSI to double on the day, raising the water level for the entire sector. Leading the pack is the First Trust NYSE Arca Biotechnology fund (NYSEArca: FBT), which, considering its year-to-date performance is up by 28.66 percent, comes as no surprise. What is interesting to note, however, is how FBT compares with the health care sector's largest fund, the Health Care Select SPDR (NYSEArca:XLV - News). Though XLV came in sixth in terms of largest inflows yesterday, bringing in $61.22 million, its year-to-date performance has been a paltry 7.46 percent  in comparison with the First Trust NYSE Arca Biotechnology fund (NYSEArca:FBT - News).

Top 10 Creations (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
HYG iShares iBoxx $ High Yield Corporate Bond 125.64 14,618.65 1%
IVV iShares S'P 500 110.60 29,516.38 0%
IWL iShares Russell Top 200 71.91 246.09 41%
DIA SPDR Dow Jones Industrial Average Trust 64.75 11,498.31 1%
OIH Market Vectors Oil Services 63.44 1,193.86 6%
XLV Health Care Select SPDR 61.22 4,094.73 2%
SDS ProShares UltraShort S'P 500 55.19 2,050.94 3%
GDX Market Vectors Gold Miners 53.58 8,015.81 1%
IBB iShares NASDAQ Biotechnology 48.35 1,861.55 3%
JNK SPDR Barclays Capital High Yield Bond 46.92 11,672.13 0%


Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
QQQ PowerShares QQQ -355.81 33,290.92 -1%
EFA iShares MSCI EAFE -350.20 36,038.35 -1%
SPY SPDR S'P 500 -227.30 99,880.13 -0%
IWM iShares Russell 2000 -215.33 14,402.85 -1%
XLF Financial Select SPDR -157.28 6,869.97 -2%
XLI Industrial Select SPDR -155.04 3,222.28 -5%
IWX iShares Russell Top 200 Value -73.63 66.26 -53%
XLE Energy Select SPDR -72.58 7,462.89 -1%
XLY Consumer Discretionary Select SPDR -71.30 3,125.88 -2%
TZA Direxion Daily Small Cap Bear 3x -60.48 690.85 -8%


ETF Daily Flows By Asset Class

Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity -1,110.20 536,457.54 -0.21%
International Equity -262.46 284,680.98 -0.09%
U.S. Fixed Income 417.48 196,330.84 0.21%
International Fixed Income 46.09 15,426.35 0.30%
Commodities -100.71 112,361.01 -0.09%
Currency -42.21 3,236.25 -1.30%
Leveraged -2.42 13,240.07 -0.02%
Inverse 40.68 20,061.57 0.20%
Asset Allocation 4.31 1,083.66 0.40%
Alternatives 4.65 4,060.12 0.11%
Total: -1,004.79 1,186,938.39 -0.08%


Top 10 Volume Surprises, Funds '$50 mm AUM

Ticker Name Average Volume
(30 Day)
1-Day Volume % of Average
VOX Vanguard Telecommunication Services 51,965 744,404 1433%
IWX iShares Russell Top 200 Value 182,334 2,513,742 1379%
DBE PowerShares DB Energy 82,113 1,054,352 1284%
IWL iShares Russell Top 200 189,009 2,336,497 1236%
IHF iShares Dow Jones U.S. Healthcare Providers 81,980 838,232 1022%
IHI iShares Dow Jones U.S. Medical Devices 55,637 546,880 983%
IGN iShares S'P North American Technology-Multimedia Networking 76,390 651,212 852%
USL United States 12 Month Oil 23,873 201,613 845%
HAP Market Vectors RVE Hard Assets Producers 26,949 211,011 783%
REZ iShares FTSE NAREIT Residential Plus Capped 36,010 258,244 717%


Top 10 1-Day Performers, Excluding Leverage/Inverse Funds and '1,000 Shares Traded

Ticker Name 1-Day Performance 1-Day Volume AUM ($, mm)
FBT First Trust NYSE Arca Biotechnology 5.87% 101,705 258.55
XBI SPDR S'P Biotech 4.00% 461,153 517.37
BBH Market Vectors Biotech 3.53% 225,835 119.64
CORN Teucrium Corn 2.74% 104,902 63.13
JEM iPath GEMS ETN 2.72% 2,260 1.30
GWO ELEMENTS Credit Suisse Global Warming ETN 2.20% 1,880 2.78
CVOL C-Tracks Exchange-Traded Notes on the Citi Volatility 2.18% 4,350 9.16
MLPN Credit Suisse Cushing 30 MLP ETN 2.18% 21,678 226.88
GRU ELEMENTS MLCX Grains - Total Return ETN 2.08% 2,393 14.28
JJG iPath Dow Jones UBS Grains Total Return ETN 1.90% 13,823 164.65

Bottom 10 1-Day Performers, Excluding Leverage/Inverse Funds and '1,000 Shares Traded

Ticker Name 1-Day Performance 1-Day Volume AUM ($, mm)
CMF iShares S'P California AMT-Free Municipal Bond -3.64% 13,394 214.24
CANE Teucrium Sugar -3.60% 2,630 3.94
GREK Global X FTSE Greece 20 -3.33% 1,150 2.98
FYT First Trust Small Cap Value AlphaDEX -2.92% 1,032 4.11
VNM Market Vectors Vietnam -2.64% 240,946 330.32
EWP iShares MSCI Spain -2.40% 1,072,770 94.58
AXUT iShares MSCI ACWI ex-US Utilities -2.33% 6,009 4.28
EAPS Pax MSCI EAFE ESG -2.25% 2,703 9.04
FAN First Trust ISE Global Wind Energy -2.21% 9,651 24.87
UNG United States Natural Gas -2.13% 7,863,279 771.23

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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