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ETF AM Wrap-Up: Investors Pour into High Yield ETF Following Fed Chair Powell’s Dovish Comments Yesterday

Jun 05, 2019

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  • Despite a robust rally in US large-cap stocks yesterday that sent the S&P 500 Index higher by 2.14%, inflows into broad US large-cap focused ETFs were still relatively depressed. Although the SPDR S&P 500 ETF Trust (SPY) and the iShares Core S&P 500 ETF (IVV) received just over $200 million of positive inflows each on Tuesday, it is fairly surprising to see neither of the top 2 ETFs by assets under management in our coverage universe crack the top ETFs by 1-day fund flow.
  • SPY has a “SELL” trading signal and a “Caution” Smart Beta rating.  
  • IVV has a “BUY” trading signal and a “Caution” Smart Beta rating.
     
  • Conversely, it is not too surprising to see the iShares iBoxx $ High Yield Corporate Bond ETF (HYG) as the top ETF by 1-day fund flow with nearly $1.51 billion pouring into the high yield bond fund. The elevated demand for HYG is likely the direct result of US Fed Chairman Powell’s comments yesterday where he signaled an openness to cutting interest rates this year, which we discuss here
  • HYG has a “BUY” trading signal.

 

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 $205,999,356 -$3,844,032,337 -$16,197,935,934 -$9,337,233,994 $253.11 0.09%
iShares Core S&P 500 ETF IVV $207,370,650 $925,623,125 $2,344,623,765 $12,069,529,875 $173.14 0.04%
Vanguard Total Stock Market ETF VTI -$101,173,959 -$295,509,745 $541,204,606 $2,637,139,636 $110.64 0.03%
Vanguard S&P 500 ETF VOO $70,371,650 $359,771,073 $344,387,843 $4,886,668,524 $108.52 0.03%
ETRACS Alerian MLP Infrastructure Index ETN MLPI $0 $0 -$7,703,325 -$29,965,350 $72.99 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 -$39,413,618 -$51,387,905 $148,536,421 $975,976,010 $16.13 0.03%
SPDR Portfolio Total Stock Market ETF SPTM $13,661,724 $22,375,141 $112,708,531 $312,054,795 $3.28 0.03%
Vanguard S&P 500 ETF VOO $70,371,650 $359,771,073 $344,387,843 $4,886,668,524 $108.52 0.03%
iShares Core S&P Total U.S. Stock Market ETF ITOT $40,622,205 $40,622,205 $616,773,785 $1,281,797,895 $19.77 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 (%)
iShares iBoxx $ High Yield Corporate Bond ETF HYG $1,509,080,440 -$447,598,980 -$1,550,655,950 -$432,687,780 $14.92 0.49%
iShares Russell 2000 ETF IWM $732,102,000 $167,607,895 $91,876,320 -$1,027,877,680 $40.68 0.20%
Technology Select Sector SPDR Fund XLK $392,126,043 -$58,865,458 $1,122,495,496 $851,879,463 $20.49 0.13%
iShares iBoxx $ Investment Grade Corporate Bond ETF LQD $374,454,890 $361,326,270 -$758,856,290 -$1,949,432,080 $31.70 0.15%
Industrial Select Sector SPDR Fund XLI $264,862,330 $570,047,446 $5,640,133 -$507,745,414 $10.07 0.13%

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 7-10 Year Treasury Bond ETF IEF -$141,876,930 $1,988,940,900 $2,417,200,000 $2,224,825,260 $16.21 0.15%
iShares 1-3 Year Treasury Bond ETF SHY $76,071,420 $1,113,730,620 $1,382,622,560 $1,789,267,840 $21.09 0.15%
SPDR Bloomberg Barclays Intermediate Term Treasury ETF ITE $85,990,919 $931,776,883 $931,776,883 $985,755,133 $1.66 0.10%
SPDR Gold Shares GLD $0 $926,208,000 $551,304,000 -$1,166,021,400 $32.33 0.40%
iShares Core S&P 500 ETF IVV $207,370,650 $925,623,125 $2,344,623,765 $12,069,529,875 $173.14 0.04%

Source: ETF Global

Top 5 ETFs by 1-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 7-10 Year Treasury Bond ETF IEF -$141,876,930 $1,988,940,900 $2,417,200,000 $2,224,825,260 $16.21 0.15%
iShares Core S&P 500 ETF IVV $207,370,650 $925,623,125 $2,344,623,765 $12,069,529,875 $173.14 0.04%
Vanguard Total Bond Market ETF BND $98,736,000 $467,077,000 $1,601,925,000 $1,760,888,000 $40.32 0.04%
iShares Core U.S. Aggregate Bond ETF AGG $66,218,340 $363,675,210 $1,550,321,430 $2,814,787,750 $62.40 0.05%
iShares 1-3 Year Treasury Bond ETF SHY $76,071,420 $1,113,730,620 $1,382,622,560 $1,789,267,840 $21.09 0.15%

Source: ETF Global

Top 5 ETFs by 3-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 Core S&P 500 ETF IVV $207,370,650 $925,623,125 $2,344,623,765 $12,069,529,875 $173.14 0.04%
iShares Core MSCI EAFE ETF IEFA $0 $0 $1,218,484,860 $6,101,991,420 $62.82 0.08%
Vanguard S&P 500 ETF VOO $70,371,650 $359,771,073 $344,387,843 $4,886,668,524 $108.52 0.03%
Graniteshares Gold Trust BAR $0 $0 $47,872,550 $4,127,289,120 $0.51 0.17%
iShares Core U.S. Aggregate Bond ETF AGG $66,218,340 $363,675,210 $1,550,321,430 $2,814,787,750 $62.40 0.05%

Source: ETF Global

 

 

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