Weekly ETF Flows: Out Of GLD; Into BIL

IndexUniverse.com

With the Fed signaling that change may be coming regarding its five-year easy money policy featuring zero interest rates and “quantitative easing,” it’s no surprise that ETF investors were running for cover in the past week, pulling money out of bond funds, equity funds and, of course, gold.

Overall, net outflows totaled more than $6 billion in the week ended Thursday, June 27, though total U.S.-listed ETF assets held about steady at $1.437 trillion, as the S'P 500 Index bounced back from some sharp selling last week to end the five-day trading period more than 1.5 percent higher at 1,613.20.

With all the fretting about interest-rate risk, bond funds were all over IndexUniverse’s Top 10 Creations and Redemptions list. The locus of the uncertainty of the outlook was concentrated in bonds, but all different pockets of the ETF world were reflecting the “what-will-happen-next?” mentality coursing through financial markets.

On the one hand, investors were bailing out of stalwart fixed-income funds such as the Vanguard Total Bond Market ETF (BND), the SPDR Barclays High Yield Bond ETF (JNK) and the iShares iBoxx $ Investment Grade Corporate Bond Fund (LQD). Total bond-fund redemptions in the five-day period exceeded $1.6 billion, according to data compiled by IndexUniverse.

On the other hand, they were moving into shorter-duration fixed-income funds such as the SPDR Barclays 1-3 Month T-Bill ETF (BIL) and the iShares Barclays 1-3 Year Treasury Bond Fund (SHY).

Gold also took it on the chin, with the SPDR Gold Shares (GLD), the market’s biggest gold ETF, losing more than $1 billion in assets in the past week. The huge fund, now with $38.41 billion in assets, has lost almost half its assets this year after ending 2012 with about $72 billion in assets.

Even equities were vulnerable, especially those focused on the developing worlds. As an example, the $48 billion Vanguard FTSE Emerging Markets ETF (VWO) suffered outflows of more than $1 billion in the five-day period.

The SPDR S'P 500 ETF (SPY) was the most unpopular fund last week, losing $3.8 billion. The world’s biggest ETF still has $134 billion in assets.

 

 

Top 10 Creations (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
IVV iShares Core S'P 500 578.40 42,965.34 1.36%
IYR iShares Dow Jones U.S. Real Estate 576.12 4,781.92 13.70%
SCPB SPDR Barclays Short Term Corporate Bond 567.39 2,875.93 24.58%
EFA iShares MSCI EAFE 515.31 40,159.75 1.30%
TLT iShares Barclays 20+ Year Treasury Bond 513.25 4,300.60 13.55%
GDX Market Vectors Gold Miners 432.96 5,269.05 8.95%
EEM iShares MSCI Emerging Markets 409.41 33,843.58 1.22%
XLV Health Care Select SPDR 398.97 7,064.54 5.99%
BIL SPDR Barclays 1-3 Month T-Bill 398.46 1,580.10 33.72%
SHY iShares Barclays 1-3 Year Treasury Bond 378.96 8,234.16 4.82%


Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S'P 500 -3,827.05 134,258.07 -2.77%
GLD SPDR Gold -1,066.92 38,407.51 -2.70%
VWO Vanguard FTSE Emerging Markets -1,054.96 48,399.70 -2.13%
VNQ Vanguard REIT -658.17 17,830.33 -3.56%
JNK SPDR Barclays High Yield Bond -655.83 9,247.12 -6.62%
BND Vanguard Total Bond Market -612.39 16,850.76 -3.51%
LQD iShares iBoxx $ Investment Grade Corporate Bond -608.17 19,501.65 -3.02%
VXX iPath S'P 500 VIX Short-Term Futures ETN -505.05 975.55 -34.11%
IWM iShares Russell 2000 -428.96 21,576.23 -1.95%
TIP iShares Barclays TIPS Bond -376.09 16,059.09 -2.29%


ETF Weekly Flows By Asset Class

Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity -2,921.10 744,558.34 -0.39%
International Equity 136.74 322,813.12 0.04%
U.S. Fixed Income -1,300.65 226,503.76 -0.57%
International Fixed Income -382.04 25,720.67 -1.49%
Commodities -1,531.84 71,946.26 -2.13%
Currency -51.58 2,289.33 -2.25%
Leveraged 660.01 15,733.18 4.20%
Inverse -413.72 20,705.76 -2.00%
Asset Allocation -26.93 3,530.45 -0.76%
Alternatives -593.75 2,966.17 -20.02%
Total: -6,424.86 1,436,767.04 -0.45%


Top 10 Volume Surprises, Funds '$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
FBT First Trust NYSE Arca Biotechnology 190,165 4,176,599 439.26%
FRI First Trust S'P REIT 687,576 13,428,120 390.59%
DTYS iPath U.S. Treasury 10-Year Bear ETN 80,542 1,550,404 384.99%
SCPB SPDR Barclays Short Term Corporate Bond 1,262,233 24,293,533 384.93%
AOM iShares S'P Moderate Allocation 52,276 888,917 340.09%
AXJL WisdomTree Asia-Pacific ex-Japan 10,777 174,075 323.06%
RYT Guggenheim S'P Equal Weight Technology 47,139 702,743 298.16%
HGI Guggenheim International Multi-Asset Income 37,695 558,691 296.43%
BSCD Guggenheim BulletShares 2013 Corporate Bond 52,392 765,573 292.25%
GBF iShares Barclays Government/Credit Bond 16,245 219,828 270.64%


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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
THD iShares MSCI Thailand Capped Investable Market 12.19% 2,676,305 776.40
EIDO iShares MSCI Indonesia Investable Market 11.32% 3,057,301 492.48
IDX Market Vectors Indonesia 11.13% 3,009,918 334.59
EPHE iShares MSCI Philippines Investable Market 9.37% 3,418,009 361.73
EWW iShares MSCI Mexico Capped Investable Market 8.63% 24,697,212 2,207.77
TCHI RBS China Trendpilot ETN 8.37% 124,760 9.79
ECH iShares MSCI Chile Capped Investable Market 8.03% 2,015,782 442.72
AMJ JPMorgan Alerian MLP ETN 7.93% 7,415,349 5,688.71
REZ iShares FTSE NAREIT Residential Plus Capped 7.73% 432,055 361.81
ASEA Global X FTSE ASEAN 40 7.66% 1,240,528 68.00

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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
DPU PowerShares DB Commodity Long ETN -10.07% 11,032 2.70
GGGG Global X PURE Gold Miners -9.51% 20,524 2.37
GDXJ Market Vectors Junior Gold Miners -9.33% 29,167,471 1,118.72
GLDX Global X Gold Explorers -9.20% 372,685 22.66
JJN iPath Dow Jones-UBS Nickel Total Return ETN -9.09% 3,575 5.29
CVOL C-Tracks Citi Volatility ETN -8.28% 59,735 2.85
EGRW iShares MSCI Emerging Markets Growth -8.06% 1,495 5.01
UNG United States Natural Gas -7.97% 26,636,293 838.35
GAZ iPath Dow Jones-UBS Natural Gas Total Return ETN -7.55% 308,868 34.69
EMMT iShares MSCI-Emerging Markets Materials -7.51% 3,404 4.58

Top 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
QCLN First Trust NASDAQ Clean Edge Green Energy 52.50 3.38 50.02
TAN Guggenheim Solar 50.77 4.20 104.89
GEX Market Vectors Global Alternative Energy 37.86 3.12 72.06
KWT Market Vectors Solar Energy 33.77 1.77 14.24
PBW PowerShares WilderHill Clean Energy 32.84 5.03 185.99
IAI iShares Dow Jones U.S. Broker-Dealers 31.70 1.69 114.48
KBWI PowerShares KBW Insurance 29.50 2.24 5.51
MLPG ETRACS Alerian Natural Gas MLP ETN 29.45 6.55 32.36
BBH Market Vectors Biotech 28.47 4.09 288.58
DBJP db X-trackers MSCI Japan Hedged Equity 27.86 4.67 116.64

Bottom 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
GLDX Global X Gold Explorers -59.57 -9.20 22.66
GDXJ Market Vectors Junior Gold Miners -57.30 -9.33 1,118.72
SILJ PureFunds ISE Junior Silver (Small Cap Miners/Explorers) -55.30 -7.85 1.31
GGGG Global X PURE Gold Miners -54.58 -9.51 2.37
SIL Global X Silver Miners -52.41 -4.69 167.40
CVOL C-Tracks Citi Volatility ETN -52.01 -8.28 2.85
RING iShares MSCI Global Gold Miners -51.61 -7.10 24.38
SLVP iShares MSCI Global Silver Miners -51.33 -7.26 4.20
GDX Market Vectors Gold Miners -50.87 -7.17 5,269.05
PSAU PowerShares Global Gold and Precious Metals -50.42 -5.42 17.42

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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