Weekly ETF Flows: Assets Reach Record

Dave Nadig and Olly Ludwig

 

Investors plowed more than $15 billion into ETFs in the past week, lifting assets to a record, amid expectations that the Federal Reserve would launch a third round of quantitative easing to keep lending costs low, lift asset prices and generally stimulate an economy that has produced lackluster job growth.

Overall, total U.S.-listed ETF assets climbed 3.1 percent to $1.288 billion—again a record. In fact, new records were broken on each day of the week. Asset growth was also fueled by rising markets, with the Dow Jones industrial average rising 1.8 percent in the five days ended Sept. 13.

The actual arrival on Thursday of so-called QE3, courtesy of the Fed, provided most of the impetus for the market’s move. The central bank committed to so-called QE3—an open-ended program to purchase $40 billion in mortgage-backed securities a month. Apart from stocks, precious metals rose as well, though bond prices were steady to lower.

The most popular exchange-traded fund in the past week was the SPDR S'P 500 ETF (SPY). It hauled in $6.24 billion—the leading edge of flows into U.S. equities that totaled $11.22 billion.

The least popular fund in the past week—the Market Vectors Gold Miners ETF (GDX)—was something of a surprise considering gold’s move up in price in connection with the Fed’s decision to launch QE3 and inflows during yesterday's session into the world’s biggest bullion ETF , SPDR Gold Shares (GLD).


The yellow metal jumped 2.2 percent on Thursday alone and, according to our separate daily ETF flows report , GLD pulled in $168.1 million in fresh assets on Sept. 13.


But GDX recorded redemptions of $235.2 million in the entire week.

 

Top 10 Creations (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S'P 500 6,244.02 112,755.18 5.86%
IWM iShares Russell 2000 1,431.59 18,061.66 8.61%
QQQ PowerShares QQQ 410.22 36,047.62 1.15%
EWZ iShares MSCI Brazil 384.02 8,267.15 4.87%
XLB Materials Select SPDR 375.25 2,562.66 17.16%
XLI Industrial Select SPDR 346.21 3,755.00 10.16%
VGK Vanguard MSCI Europe 331.10 3,360.09 10.93%
JNK SPDR Barclays Capital High Yield Bond 318.08 12,521.71 2.61%
HYG iShares iBoxx $ High Yield Corporate Bond 314.07 16,827.24 1.90%
EWG iShares MSCI Germany 303.66 3,346.70 9.98%


Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
GDX Market Vectors Gold Miners -235.24 9,317.74 -2.46%
TNA Direxion Daily Small Cap Bull 3x -194.03 549.60 -26.09%
FAS Direxion Daily Financial Bull 3x -160.29 1,185.03 -11.91%
IVV iShares S'P 500 -151.52 31,504.14 -0.48%
RSX Market Vectors Russia -124.67 1,783.45 -6.53%
EWJ iShares MSCI Japan -120.74 4,620.24 -2.55%
UNG United States Natural Gas -107.62 1,138.45 -8.64%
XLU Utilities Select SPDR -100.52 6,236.35 -1.59%
RYH Guggenheim S'P Equal Weight Health Care -95.06 19.18 -83.21%
USO United States Oil -93.58 1,141.30 -7.58%


ETF Weekly Daily Flows By Asset Class

Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 11,224.24 597,936.57 1.88%
International Equity 2,180.54 290,396.19 0.75%
U.S. Fixed Income 1,533.73 218,887.03 0.70%
International Fixed Income 303.87 20,332.62 1.49%
Commodities 129.30 119,086.48 0.11%
Currency -15.95 3,030.57 -0.53%
Leveraged -336.39 13,202.38 -2.55%
Inverse -32.61 19,042.42 -0.17%
Asset Allocation 37.67 2,211.30 1.70%
Alternatives 59.53 4,133.53 1.44%
Total: 15,083.93 1,288,259.10 1.17%


Top 10 Volume Surprises, Funds '$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
IWX iShares Russell Top 200 Value 17,711 348,001 392.97%
TUZ PIMCO 1-3 Year U.S. Treasury 17,838 343,383 385.01%
AOK iShares S'P Conservative Allocation 33,507 615,497 367.38%
RWJ RevenueShares Small Cap 22,607 389,983 345.02%
EZU iShares MSCI EMU 1,128,928 17,894,151 317.01%
EPS WisdomTree Earnings 500 10,673 163,565 306.50%
AGOL ETFS Physical Asian Gold 391 5,925 303.01%
GSP iPath S'P GSCI Total Return ETN 38,768 546,765 282.07%
PIO PowerShares Global Water 66,785 940,626 281.69%
EMCB WisdomTree Emerging Markets Corporate Bond 22,310 311,826 279.54%


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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
SGGG Russell Small Cap Aggressive Growth 19.44% 2,003 6.54
GREK Global X FTSE Greece 20 17.57% 633,248 18.23
JJM iPath Dow Jones-UBS Industrial Metals Total Return ETN 14.14% 9,557 37.84
CAFE iPath Pure Beta Coffee ETN 13.73% 28,540 1.62
JO iPath Dow Jones-UBS Coffee Total Return ETN 13.16% 485,521 35.31
PSTL PowerShares Global Steel 12.95% 4,212 2.05
REMX Market Vectors Rare Earth/Strategic Metals 11.60% 657,814 168.33
CU First Trust ISE Global Copper 11.46% 177,592 45.82
XME SPDR S'P Metals and Mining 11.46% 22,369,615 941.93
LEDD iPath Pure Beta Lead ETN 11.23% 1,306 0.80


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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
VIIX VelocityShares VIX Short Term ETN -11.09% 1,263,151 17.40
VXX iPath S'P 500 VIX Short-Term Futures ETN -11.08% 271,015,103 1,657.57
VIXY ProShares VIX Short-Term -10.92% 5,852,670 155.75
VIXM ProShares VIX Mid-term -9.04% 340,771 99.38
VXZ iPath S'P 500 VIX Mid-Term Futures ETN -8.81% 4,381,136 172.23
CVOL C-Tracks Exchange-Traded Notes on the Citi Volatility -6.64% 357,564 4.57
FUE ELEMENTS MLCX Biofuels Total Return ETN -4.91% 3,700 1.89
ZROZ PIMCO 25+ Year Zero Coupon U.S. Treasury -4.47% 259,528 99.68
GWO ELEMENTS Credit Suisse Global Warming ETN -4.28% 3,087 2.86
EDV Vanguard Extended Duration Treasury -4.08% 214,281 189.01

Top 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
ITB iShares Dow Jones U.S. Home Construction 66.16 5.01 1,317.93
EGPT Market Vectors Egypt 62.69 3.85 58.37
XHB SPDR S'P Homebuilders 48.99 3.88 1,848.36
BBH Market Vectors Biotech 44.33 -0.57 131.35
TUR iShares MSCI Turkey Investable Market 42.96 1.43 567.72
JJG iPath Dow Jones UBS Grains Total Return ETN 39.57 -0.52 173.60
XBI SPDR S'P Biotech 38.90 0.23 669.18
FBT First Trust NYSE Arca Biotechnology 38.73 0.69 256.00
TAO Guggenheim China Real Estate 36.00 7.33 20.64
WEET iPath Pure Beta Grains ETN 35.84 -1.97 2.91

Bottom 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
VXX iPath S'P 500 VIX Short-Term Futures ETN -75.03 -11.08 1,657.57
VIXY ProShares VIX Short-Term -75.02 -10.92 155.75
VIIX VelocityShares VIX Short Term ETN -75.00 -11.09 17.40
CVOL C-Tracks Exchange-Traded Notes on the Citi Volatility -74.45 -6.64 4.57
VXZ iPath S'P 500 VIX Mid-Term Futures ETN -41.99 -8.81 172.23
VIXM ProShares VIX Mid-term -41.76 -9.04 99.38
VIIZ VelocityShares VIX Mid Term ETN -37.12 -8.35 6.35
KWT Market Vectors Solar Energy -28.85 6.68 11.77
TAN Guggenheim Solar -27.45 8.08 46.96
JO iPath Dow Jones-UBS Coffee Total Return ETN -25.14 13.16 35.31

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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