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ETF AM Wrap-Up: Demand for Short Duration Spikes Amid Rotation into Factor Investing

May 28, 2019

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  • Interesting to note the spike of inflows into short duration fixed income ETFs on Friday with the Invesco Ultra Short Duration ETF (GSY) and the PIMCO Enhanced Short Maturity ETF (MINT) as the number 1 and 2 ETFs by 1-day fund flow in our 3,000+ ETF Coverage Universe. Our models, however, do not rate or provide trading signals for these ETFs.
  • This may be a reflection of the last week’s risk off sentiment as investors decreased exposure to stocks.

 

  • Still worth highlighting the broad rotation into factor investing amid rising market uncertainty in May with the iShares Edge MSCI Minimum Volatility USA ETF (USMV) and the iShares Edge MSCI USA Quality Factor ETF (QUAL) as the number 1 and 2 ETFs by 1-week and 1-month fund flow in our coverage universe. Not surprising to see minimum volatility and quality as the two factors most in demand as they are considered to be somewhat defensive strategies.
  • USMV has a “SELL” trading signal and a “Worst” Smart Beta rating.  
  • QUAL has a “SELL” trading signal and a “Poor” Smart Beta rating. 

 

Top 5 ETFs by Assets Under Management (AUM)

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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 (%)
SPDR S&P 500 ETF Trust SPY -$324,624,983 $39,804,344 -$9,389,824,142 -$2,494,632,619 $259.52 0.09%
iShares Core S&P 500 ETF IVV $99,463,630 $873,610,680 $1,326,361,525 $10,851,011,150 $173.54 0.04%
Vanguard Total Stock Market ETF VTI $31,701,613 $158,825,893 $1,243,339,079 $3,537,825,844 $111.64 0.03%
Vanguard S&P 500 ETF VOO $59,862,688 -$84,859,844 $243,924,142 $4,515,874,017 $109.04 0.03%
ETRACS Alerian MLP Infrastructure Index ETN MLPI $0 $0 -$7,703,325 -$29,965,350 $73.79 0.85%
 

Source: ETF Global

Top 5 ETFs by Lowest Net Expense Ratios

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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 (%)
JPMORGAN BETABUILDERS U.S. EQUITY ETF BBUS $0 $0 $0 $0 $0.03 0.02%
Schwab US Large-Cap ETF SCHX $30,367,218 $47,466,306 $317,994,916 $1,141,174,212 $16.29 0.03%
SPDR Portfolio Total Stock Market ETF SPTM $0 $37,134,086 $118,961,926 $320,955,665 $3.27 0.03%
Vanguard S&P 500 ETF VOO $59,862,688 -$84,859,844 $243,924,142 $4,515,874,017 $109.04 0.03%
iShares Core S&P Total U.S. Stock Market ETF ITOT $0 $351,034,740 $666,550,145 $2,237,582,330 $19.86 0.03%

Source: ETF Global

Top 5 ETFs by 1-Day Fund Flow

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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 (%)
Invesco Ultra Short Duration ETF GSY $201,056,000 $165,853,200 $191,134,800 $447,940,900 $2.57 0.25%
PIMCO Enhanced Short Maturity Exchange-Traded Fund MINT $170,724,800 $64,051,882 -$128,176,182 -$155,981,042 $11.89 0.35%
iShares Core S&P 500 ETF IVV $99,463,630 $873,610,680 $1,326,361,525 $10,851,011,150 $173.54 0.04%
Vanguard Total Bond Market ETF BND $97,764,000 $397,942,000 $1,126,880,000 $1,413,838,000 $39.46 0.04%
Direxion Daily S&P 500 Bear 3X Shares SPXS $88,128,600 $107,374,750 $77,762,050 $159,464,900 $0.47 1.10%

Source: ETF Global

Top 5 ETFs by 1-Week Fund Flow

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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 USA Quality Factor ETF QUAL $0 $1,506,924,450 $1,621,522,000 $2,858,118,845 $12.50 0.15%
iShares Edge MSCI Min Vol USA ETF USMV $11,983,420 $1,369,331,870 $2,117,186,830 $3,332,832,590 $27.58 0.15%
iShares Core S&P 500 ETF IVV $99,463,630 $873,610,680 $1,326,361,525 $10,851,011,150 $173.54 0.04%
iShares Core MSCI EAFE ETF IEFA $0 $546,205,500 $1,615,320,060 $6,642,090,780 $63.43 0.08%
VanEck Vectors Semiconductor ETF SMH -$5,006,700 $423,963,100 $412,192,950 $725,556,850 $1.35 0.35%

Source: ETF Global

Top 5 ETFs by 1-Month Fund Flow

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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 $11,983,420 $1,369,331,870 $2,117,186,830 $3,332,832,590 $27.58 0.15%
iShares Edge MSCI USA Quality Factor ETF QUAL $0 $1,506,924,450 $1,621,522,000 $2,858,118,845 $12.50 0.15%
iShares Core MSCI EAFE ETF IEFA $0 $546,205,500 $1,615,320,060 $6,642,090,780 $63.43 0.08%
iShares Core S&P 500 ETF IVV $99,463,630 $873,610,680 $1,326,361,525 $10,851,011,150 $173.54 0.04%
Vanguard Total Stock Market ETF VTI $31,701,613 $158,825,893 $1,243,339,079 $3,537,825,844 $111.64 0.03%

Source: ETF Global

Top 5 ETFs by 3-Month Fund Flow

On Mobile/Tablet scroll to the right

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 Core S&P 500 ETF IVV $99,463,630 $873,610,680 $1,326,361,525 $10,851,011,150 $173.54 0.04%
iShares Core MSCI EAFE ETF IEFA $0 $546,205,500 $1,615,320,060 $6,642,090,780 $63.43 0.08%
Vanguard S&P 500 ETF VOO $59,862,688 -$84,859,844 $243,924,142 $4,515,874,017 $109.04 0.03%
Graniteshares Gold Trust BAR $0 $0 $45,974,300 $4,133,915,520 $0.50 0.17%
Vanguard Total Stock Market ETF VTI $31,701,613 $158,825,893 $1,243,339,079 $3,537,825,844 $111.64 0.03%

Source: ETF Global

 

 

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