Weekly ETF Flows: Into EEM, Out Of SPY

IndexUniverse.com

Investors plowed more than $500 million into the iShares MSCI Emerging Markets Index Fund (EEM), the latest piece of a tale of shifting flows between EEM and the Vanguard MSCI Emerging Markets ETF (VWO) that we’ve begun to take measure of here.

Since Vanguard announced at the beginning of the month that it would switch VWO’s MSCI index to a FTSE index next year, money has been moving into EEM. It’s not totally clear what’s going on, but it is  possible that institutions sensitive to MSCI’s special place in their world of institutional benchmarking were choosing iShares’ EEM to achieve their emerging markets exposure.

On the flip side, the SPDR S'P 500 ETF (SPY) suffered outflows of $9.13 billion, the leading edge of net outflows from U.S. equities that totaled more than $12 billion. Overall, total U.S.-listed ETF assets fell to $1.284 trillion from a record $1.318 trillion in the prior week .

Part of that asset drop was related to falling stocks. In the five-day trading period ended Oct. 25, the Dow Jones industrial average fell more than 3 percent to 13,103.68, pulled down by largely disappointing third-quarter earnings reports.

While deeper macroeconomic concerns were secondary to the relatively weak earnings season as far as what was fueling the selling, gold resonated with investors as the stock market moved downward.

SPDR Gold Shares (GLD), the nearly $74 billion bullion ETF, pulled in $167.5 million, while the Market Vectors Gold Miners ETF (GDX) added $293.6 million in fresh assets.

Top 10 Creations (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
EEM iShares MSCI Emerging Markets 504.74 38,396.23 1.33%
FXI iShares FTSE China 25 455.06 5,956.27 8.27%
EZU iShares MSCI EMU 335.12 1,612.62 26.23%
GDX Market Vectors Gold Miners 293.58 10,032.98 3.01%
GLD SPDR Gold 167.45 73,715.25 0.23%
EFV iShares MSCI EAFE Value 148.66 1,505.52 10.96%
IHY Market Vectors International High Yield Bond 140.86 166.59 547.51%
IVV iShares Core S'P 500 130.21 32,641.20 0.40%
BKLN PowerShares Senior Loan 124.24 1,173.51 11.84%
TLT iShares Barclays 20+ Year Treasury Bond 121.60 3,055.73 4.14%


Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S'P 500 -9,127.51 106,414.81 -7.90%
IWM iShares Russell 2000 -1,094.73 16,495.65 -6.22%
XLE Energy Select SPDR -453.83 7,191.03 -5.94%
XLF Financial Select SPDR -430.44 8,147.60 -5.02%
QQQ PowerShares QQQ -386.91 30,835.19 -1.24%
BND Vanguard Total Bond Market -321.73 17,222.79 -1.83%
XLI Industrial Select SPDR -294.49 3,026.69 -8.87%
XLB Materials Select SPDR -257.09 2,351.03 -9.86%
IBB iShares NASDAQ Biotechnology -211.99 2,110.62 -9.13%
MDY SPDR S'P MidCap 400 -187.31 9,272.32 -1.98%


ETF Weekly Daily Flows By Asset Class

Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity -12,717.83 574,276.52 -2.21%
International Equity 2,277.67 301,459.54 0.76%
U.S. Fixed Income 577.93 223,941.57 0.26%
International Fixed Income 434.93 23,363.13 1.86%
Commodities 440.80 120,233.20 0.37%
Currency -21.27 2,797.41 -0.76%
Leveraged 244.09 12,656.89 1.93%
Inverse -208.72 19,214.97 -1.09%
Asset Allocation 29.61 2,279.41 1.30%
Alternatives -186.15 4,024.54 -4.63%
Total: -9,128.95 1,284,247.17 -0.71%


Top 10 Volume Surprises, Funds '$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
EXI iShares S'P Global Industrials 14,262 277,833 389.61%
ZROZ PIMCO 25+ Year Zero Coupon U.S. Treasury 39,670 615,299 310.21%
DSI iShares MSCI KLD 400 Social 11,583 179,072 309.19%
RXI iShares S'P Global Consumer Discretionary 14,935 228,669 306.23%
EMHY iShares Emerging Markets High Yield Bond 107,415 1,553,846 289.32%
RJN ELEMENTS Rogers International Commodity - Energy Total Return ETN 81,191 1,156,856 284.97%
IHY Market Vectors International High Yield Bond 243,547 3,446,397 283.02%
IGM iShares S'P North American Technology 46,051 622,102 270.18%
DJCI ETRACS DJ-Commodity Total Return ETN 6,020 73,309 243.55%
RYJ Guggenheim Raymond James SB-1 Equity 17,498 192,291 219.79%


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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
VXX iPath S'P 500 VIX Short-Term Futures ETN 10.97% 171,563,314 1,645.84
VIXY ProShares VIX Short-Term 10.93% 5,971,858 178.09
VIIX VelocityShares VIX Short Term ETN 10.93% 3,212,163 8.84
EMFN iShares MSCI Emerging Markets Financials 5.02% 2,404 4.88
COLX Market Vectors Colombia 4.80% 1,150 2.91
WEET iPath Pure Beta Grains ETN 3.26% 5,651 2.70
FUE ELEMENTS MLCX Biofuels Total Return ETN 2.58% 3,830 1.79
VIIZ VelocityShares VIX Mid Term ETN 2.47% 5,040 5.66
EWH iShares MSCI Hong Kong 2.24% 29,312,166 2,652.30
GREK Global X FTSE Greece 20 2.12% 539,404 29.42

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
KWT Market Vectors Solar Energy -7.27% 15,756 9.56
FCG First Trust ISE-Revere Natural Gas -7.14% 2,175,923 450.27
OIL iPath S'P GSCI Crude Oil Total Return ETN -6.99% 3,669,981 399.16
TWTI RBS Oil Trendpilot ETN -6.85% 7,367 7.34
XBI SPDR S'P Biotech -6.75% 2,191,514 637.29
USO United States Oil -6.72% 65,611,488 1,241.43
CVOL C-Tracks Exchange-Traded Notes on the Citi Volatility -6.64% 339,833 6.00
FBT First Trust NYSE Arca Biotechnology -6.62% 415,186 227.64
ICLN iShares S'P Global Clean Energy -6.57% 64,919 24.38
OLO PowerShares DB Crude Oil Long ETN -6.50% 31,003 12.44

Top 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
ITB iShares Dow Jones U.S. Home Construction 72.60 -2.11 1,471.98
EGPT Market Vectors Egypt 61.18 -0.99 55.27
XHB SPDR S'P Homebuilders 51.08 -2.10 1,965.31
TUR iShares MSCI Turkey Investable Market 48.12 0.62 604.43
BBH Market Vectors Biotech 44.06 -4.40 144.35
TAO Guggenheim China Real Estate 43.58 1.79 42.81
INCO EGShares India Consumer 37.52 -0.43 2.18
IFAS iShares FTSE EPRA/NAREIT Developed Asia 36.36 0.84 29.21
PKB PowerShares Dynamic Building ' Construction 35.75 -1.34 42.93
EPHE iShares MSCI Philippines Investable Market 34.66 -1.10 132.17

Bottom 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
CVOL C-Tracks Exchange-Traded Notes on the Citi Volatility -74.45 -6.64 6.00
VXX iPath S'P 500 VIX Short-Term Futures ETN -74.33 10.97 1,645.84
VIIX VelocityShares VIX Short Term ETN -74.32 10.93 8.84
VIXY ProShares VIX Short-Term -74.28 10.93 178.09
VXZ iPath S'P 500 VIX Mid-Term Futures ETN -48.62 1.07 121.28
VIXM ProShares VIX Mid-term -48.25 1.32 100.23
VIIZ VelocityShares VIX Mid Term ETN -47.28 2.47 5.66
KWT Market Vectors Solar Energy -42.37 -7.27 9.56
TAN Guggenheim Solar -39.76 -6.42 40.46
JO iPath Dow Jones-UBS Coffee Total Return ETN -33.28 1.45 45.19

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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