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ETFs AM Wrap-Up: SPY sees large outflow, investors buying high yield and is a there a rotation into tech?

Mar 25, 2019

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  • SPDR S&P 500 ETF (SPY), not surprisingly, saw negative outflows on Friday.  What we are surprised at is the magnitude: SPY saw negative net flows of USD$1.8 billion!  The Vanguard S&P 500 ETF (VOO) saw net outflows of –USD$98 million. 
  • We just continued to be surprised at the resiliency of the iShares Core S&P 500 ETF (IVV)!  Despite Friday’s sell-off and outflow from SPY, the IVV saw net inflows of +USD$71 million.   
  • The iShares Broad USD High Yield Corporate Bond ETF (USHY) saw the greatest 1-day inflows of all the ETFs in our 3,000+ ETFs universe on Monday.  USHY saw net flows of +USD$354.9 million.  This is a little shocking given the sell-off in US stocks on Friday and the correlation between high yield and stocks.  Very interesting... 
  • Interesting to see tech ETFs in the top 5 for 1-day fund flows from Friday with First Trust Dow Jones Index Fund (FDN) and VanEck Vectors Semiconductor ETF (SMH) experiencing north of USD$130 million in net flows each.  This goes back to our observation about a possible rotation into tech last Friday after USD$1 billion flowed into the QQQ on Thursday.  There is definitely something going on here below the surface...

 

Top 5 ETFs by Assets Under Management (AUM)

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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 -$1,793,055,650 $2,092,738,519 -$9,188,806,792 $260.73 0.09%
iShares Core S&P 500 ETF IVV $71,631,225 $6,512,799,360 $3,019,698,916 $167.16 0.04%
Vanguard Total Stock Market ETF VTI $747,163 $1,243,602,941 $3,657,651,424 $108.64 0.04%
Vanguard S&P 500 ETF VOO -$98,006,250 $3,158,697,314 $2,677,958,157 $106.39 0.04%
ETRACS Alerian MLP Infrastructure Index ETN MLPI $0 -$22,262,025 -$137,669,940 $75.83 0.85%

Source: ETF Global

Top 5 ETFs by Lowest Net Expense Ratios

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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 $0 $0 $0 $0.03 0.02%
Schwab US Broad Market ETF SCHB $0 $515,333,252 $757,492,192 $14.15 0.03%
SPDR Portfolio Total Stock Market ETF SPTM $0 $108,254,787 $376,971,435 $3.02 0.03%
Schwab US Large-Cap ETF SCHX $6,809,965 $338,643,472 $445,755,679 $15.32 0.03%
SPDR Portfolio Large Cap ETF SPLG $3,345,237 $151,512,516 $345,102,094 $2.25 0.03%

Source: ETF Global

Top 5 ETFs by 1-Day Fund Flow

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Name Ticker 1-Day Fund Flow ($) 30-Day Fund Flow ($) 90-Day Fund Flow ($) Assets Under Management ($ billions) Net Expense Ratio (%)
iShares Broad USD High Yield Corporate Bond ETF USHY $354,880,785 $426,792,565 $563,674,625 $0.84 0.22%
iShares U.S. Treasury Bond ETF GOVT $139,936,720 $616,801,270 $1,560,001,420 $8.54 0.15%
First Trust Dow Jones Internet Index Fund FDN $139,222,420 $99,351,708 $1,977,420 $8.19 0.53%
VanEck Vectors Semiconductor ETF SMH $137,402,500 $339,120,450 $47,790,000 $1.05 0.35%
SPDR Gold Shares GLD $123,694,000 -$572,633,600 $185,715,700 $32.92 0.40%

Source: ETF Global

Top 5 ETFs by 30-Day Fund Flow

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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 $71,631,225 $6,512,799,360 $3,019,698,916 $167.16 0.04%
Graniteshares Gold Trust BAR $0 $4,094,271,720 $4,227,369,850 $0.47 0.17%
Invesco QQQ Trust QQQ -$903,474,000 $3,466,952,750 $2,702,540,100 $71.67 0.20%
Vanguard S&P 500 ETF VOO -$98,006,250 $3,158,697,314 $2,677,958,157 $106.39 0.04%
iShares Core MSCI EAFE ETF IEFA $0 $2,618,899,380 $2,909,258,080 $59.69 0.08%

Source: ETF Global

Top 5 ETFs by 90-Day Fund Flow

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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 $59.33 0.14%
Graniteshares Gold Trust BAR $0 $4,094,271,720 $4,227,369,850 $0.47 0.17%
iShares Edge MSCI Min Vol USA ETF USMV $5,836,410 $730,501,910 $3,715,395,107 $24.11 0.15%
Vanguard Total Stock Market ETF VTI $747,163 $1,243,602,941 $3,657,651,424 $108.64 0.04%
Vanguard Total International Bond ETF BNDX $100,790 $118,272,731 $3,296,623,115 $16.18 0.11%

Source: ETF Global

 

 

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