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What’s the Market’s Favorite Factor? Fund Flows Reveal Minimum Volatility and Growth ETFs as Picks of the Litter

Jun 14, 2019

Better Data for Better Investment DecisionsBetter Data for Better Investment Decisions
 
Better Data for Better Investment Decisions

Factor ETF Fund Flows

Name Ticker 1-Day
Fund Flow ($)
1-Week
Fund Flow ($)
1-Month
Fund Flow ($)
3-Month
Fund Flow ($)
Assets Under
Management ($ billions)
Net
Expense Ratio (%)
iShares Edge MSCI Min Vol USA ETF USMV $98,629,120 $252,012,820 $1,569,070,770 $2,853,714,280 $27.58 0.15%
Invesco S&P 500 Low Volatility ETF SPLV $55,272,000 $212,466,800 $620,572,800 $1,057,469,350 $10.95 0.25%
Invesco Russell 1000 Low Beta Equal Weight ETF USLB -$1,630,300 -$1,630,300 -$9,675,550 -$53,141,700 $0.13 0.35%
iShares Edge MSCI USA Momentum Factor ETF MTUM $29,507,475 $188,013,595 $631,731,430 $291,543,870 $8.52 0.15%
Invesco DWA Momentum ETF PDP $0 $2,999,700 $2,982,300 -$46,681,150 $1.44 0.63%
SPDR Russell 1000 Momentum Focus ETF ONEO $0 $0 -$2,161,410 -$33,687,727 $0.42 0.20%
iShares Russell 1000 Growth ETF IWF $38,784,175 $38,271,910 $70,560,285 -$113,865,995 $42.64 0.20%
Vanguard Growth ETF VUG $16,477,987 $6,059,121 $176,536,136 $547,912,986 $38.54 0.04%
iShares S&P 500 Growth ETF IVW $0 $0 $137,470 -$86,080,380 $22.66 0.18%
Vanguard Value ETF VTV $5,943,190 $141,136,705 $345,854,134 $930,236,697 $46.92 0.04%
iShares Russell 1000 Value ETF IWD $0 $0 -$71,716,820 -$377,635,390 $37.62 0.20%
iShares S&P 500 Value ETF IVE $0 $0 -$83,532,070 -$263,730,665 $14.95 0.18%

 

We Crunch the Numbers, You Make the Trade.We Crunch the Numbers, You Make the Trade.
We Crunch the Numbers, You Make the Trade.We Crunch the Numbers, You Make the Trade.

 

  • Minimum volatility ETFs appear to have observed the strongest demand across 1-week, 1-month, and 3-month periods. As can be seen in the table above, the iShares Edge MSCI Minimum Volatility USA ETF (USMV) and the Invesco S&P 500 Low Volatility ETF (SPLV) have observed combined 3-month inflows of nearly $3 billion! This is likely the result of volatile trading in May.
  • USMV has a “BUY” trading signal and a “Worst” Smart Beta rating.  
  • SPLV has a “BUY” trading signal and a “Caution” Smart Beta rating.
     
  • Growth ETFs have been in demand of late with the iShares Russell 1000 Growth ETF (IWF), the Vanguard Growth ETF (VUG), and the iShares S&P 500 Growth ETF (IVW) all receiving positive inflows over a 1-month time period. This could be related to increased hopes of an upcoming rate cut by the US Federal Reserve among investors, which would likely help growth companies continue expanding.
  • IWF has a “BUY” trading signal and a “Caution” Smart Beta rating.  
  • VUG has a “SELL” trading signal and a “Good” Smart Beta rating.  
  • IVW has a “BUY” trading signal and a “Poor” Smart Beta rating.

 

Global Top Stock IdeasTOP LONG & TOP SHORT STOCK IDEAS FOR GLOBAL MARKETSMONTHLY TOP IDEAS FROM OUR MULTI-FACTOR QUANTITATIVE MODELS
Global Top Stock IdeasTOP LONG & TOP SHORT STOCK IDEAS FOR GLOBAL MARKETSMONTHLY TOP IDEAS FROM OUR MULTI-FACTOR QUANTITATIVE MODELS