morning-quant-ride

Morning Brief

Wake up to the Morning Quant Ride, your global markets update every morning!

ETFs AM Wrap-Up: QQQs top all ETFs with fund flows of $1 billion with another $1 billion flowing into bond ETFs

Mar 22, 2019

Actionable and Transparent Quantitative ResearchActionable and Transparent Quantitative Research
Actionable and Transparent Quantitative ResearchActionable and Transparent Quantitative Research
 
  • Invesco QQQ Trust (QQQ) saw the biggest inflows of ALL the ETFs in our universe yesterday with USD$1 billion flowing into the mega tech ETF.  The QQQ is a "Poor" according to our Smart Beta Ratings and currently has a "Buy" trading signal.  After yesterday’s flow, it is now number 2 in terms of 30-day fund flows.  
  • USD$1 billion flowed into bond ETFs yesterday with the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG) number 2 and 3 in terms of 1-day fund flows across our 3,000+ ETFs universe.  The net positive inflows for LQD and HYG is not a surprise after the Fed’s decision to hold interest rates steady and shift to a more dovish monetary policy. 
  • Bloomberg continues to sound the alarm bells in the race to the bottom in the current Fee Wars among different ETF providers.  According to their analysis, 97% of the USD$500 billion that went to passive funds flowed to ETFs with net expense ratios of 0.20% or less.  Lower fees may cause providers to do other things to make money like wider bid/ask spreads, etc.  The net effect for investors will be negative as liquidity and valuation will be negatively impacted as fees race towards zero (and below!).

 

Top 5 ETFs by Assets Under Management (AUM)

On Mobile/Tablet scroll to the right

Name Ticker 1-Day Fund Flow ($) 30-Day Fund Flow ($) 90-Day Fund Flow ($) Assets Under Management ($ billions) Net Expense Ratio (%)
SPDR S&P 500 ETF Trust SPY $366,008,162 $2,580,103,995 -$5,336,066,551 $267.54 0.09%
iShares Core S&P 500 ETF IVV $255,077,280 $6,622,850,545 $3,081,789,267 $170.31 0.04%
Vanguard Total Stock Market ETF VTI $334,061,324 $1,201,024,417 $3,712,484,808 $110.94 0.04%
Vanguard S&P 500 ETF VOO $181,993,000 $3,360,863,362 $2,734,616,114 $108.54 0.04%
ETRACS Alerian MLP Infrastructure Index ETN MLPI $0 -$22,262,025 -$137,669,940 $77.02 0.85%

Source: ETF Global

Top 5 ETFs by Lowest Net Expense Ratios

On Mobile/Tablet scroll to the right

Name Ticker 1-Day Fund Flow ($) 30-Day Fund Flow ($) 90-Day Fund Flow ($) Assets Under Management ($ billions) Net Expense Ratio (%)
JPMORGAN BETABUILDERS U.S. EQUITY ETF BBUS $2,537,000 $0 $0 $0.03 0.02%
Schwab US Broad Market ETF SCHB $0 $515,333,252 $757,492,192 $14.45 0.03%
SPDR Portfolio Total Stock Market ETF SPTM $8,755,093 $109,990,816 $372,072,479 $3.09 0.03%
Schwab US Large-Cap ETF SCHX $6,734,071 $331,833,508 $489,407,472 $15.62 0.03%
SPDR Portfolio Large Cap ETF SPLG $6,614,049 $162,877,076 $361,829,977 $2.29 0.03%

Source: ETF Global

Top 5 ETFs by 1-Day Fund Flow

On Mobile/Tablet scroll to the right

Name Ticker 1-Day Fund Flow ($) 30-Day Fund Flow ($) 90-Day Fund Flow ($) Assets Under Management ($ billions) Net Expense Ratio (%)
Invesco QQQ Trust QQQ $1,024,746,000 $4,549,927,400 $3,481,688,100 $74.21 0.20%
iShares iBoxx $ Investment Grade Corporate Bond ETF LQD $515,703,320 $983,831,700 $1,818,629,038 $33.08 0.15%
iShares iBoxx $ High Yield Corporate Bond ETF HYG $462,850,200 $517,488,210 $2,713,250,774 $16.10 0.49%
SPDR S&P 500 ETF Trust SPY $366,008,162 $2,580,103,995 -$5,336,066,551 $267.54 0.09%
Vanguard Total Stock Market ETF VTI $334,061,324 $1,201,024,417 $3,712,484,808 $110.94 0.04%

Source: ETF Global

Top 5 ETFs by 30-Day Fund Flow

On Mobile/Tablet scroll to the right

Name Ticker 1-Day Fund Flow ($) 30-Day Fund Flow ($) 90-Day Fund Flow ($) Assets Under Management ($ billions) Net Expense Ratio (%)
iShares Core S&P 500 ETF IVV $255,077,280 $6,622,850,545 $3,081,789,267 $170.31 0.04%
Invesco QQQ Trust QQQ $1,024,746,000 $4,549,927,400 $3,481,688,100 $74.21 0.20%
Graniteshares Gold Trust BAR $4,563,300 $4,094,271,720 $4,227,369,850 $0.47 0.17%
Vanguard S&P 500 ETF VOO $181,993,000 $3,360,863,362 $2,734,616,114 $108.54 0.04%
iShares Core MSCI EAFE ETF IEFA $0 $2,618,899,380 $2,909,258,080 $60.20 0.08%

Source: ETF Global

Top 5 ETFs by 90-Day Fund Flow

On Mobile/Tablet scroll to the right

Name Ticker 1-Day Fund Flow ($) 30-Day Fund Flow ($) 90-Day Fund Flow ($) Assets Under Management ($ billions) Net Expense Ratio (%)
iShares Core MSCI Emerging Markets ETF IEMG $0 $343,492,800 $6,041,885,400 $59.88 0.14%
Graniteshares Gold Trust BAR $4,563,300 $4,094,271,720 $4,227,369,850 $0.47 0.17%
iShares Edge MSCI Min Vol USA ETF USMV $69,162,120 $724,665,500 $3,892,174,820 $24.29 0.15%
Vanguard Total Stock Market ETF VTI $334,061,324 $1,201,024,417 $3,712,484,808 $110.94 0.04%
Invesco QQQ Trust QQQ $1,024,746,000 $4,549,927,400 $3,481,688,100 $74.21 0.20%

Source: ETF Global

 

 

Stock Model PortfoliosMulti-factor quantitatively optimized portfolios risk-adjusted to provide investors an ATTRACTIVERISK/RETURN TRADE-OFF
Stock Model PortfoliosMulti-factor quantitatively optimized portfolios risk-adjusted to provide investors an ATTRACTIVERISK/RETURN TRADE-OFF