Technology ETFs: Inflows and Outflows over the Past Year
What is IYZ?
The iShares US Telecommunications ETF (IYZ) tracks a market-cap-weighted portfolio of US telecommunication companies. IYZ tracks the performance of 24 publicly listed companies in the US telecom sector. The market capitalization of IYZ is $601.1 million with an expense ratio of 0.45%. Its average daily volume of shares traded is $16.9 million. IYZ’s price-to-earnings ratio is 29.87x. Its price-to-book ratio and distribution yield are 1.84x and 1.9%, respectively.
IYZ’s top five holdings are AT&T (T) at 10.6%, Verizon Communications (VZ) at 10.4%, Level 3 Communications at 6.1%, T-Mobile (TMUS) at 5.0%, and CenturyLink (CTL) at 5.8%. These companies comprise more than 40% of IYZ’s total portfolio. AT&T comprises 1.2% of the SPDR S&P 500 ETF (SPY) as well.
Fund flows in IYZ
In the trailing one month, net fund outflows for the iShares US Telecommunications ETF (IYZ) have been $88.2 million. In the trailing 12-month (or TTM) period, net fund outflows were $57.2 million. IYZ’s fund flows in the trailing five-day period and trailing three-month (quarterly) period were -$15.9 million and $167.3 million, respectively. Since October 20, 2015, IYZ has been trading consistently above its moving averages. Since then, fund inflows into IYZ have been $179.2 million.
IYZ generated investor returns of 1.2% in the trailing 12-month period and -1.4% in the trailing one-month period. In comparison, it generated 8.4% returns in the trailing three-year period, 2% YTD (year-to-date), and 4.9% in the last three months. We can see that fund flows are directly related to ETF returns.
On December 28, 2015, IYZ closed the trading day at $29.27. Based on this figure, here’s how the stock fares in terms of its moving averages:
- 1% above its 100-day moving average of $29.01
- 2% above its 50-day moving average of $28.71
- 0.75% above its 20-day moving average of $29.05
Browse this series on Market Realist: