Fixed Income ETFs Register Rare Weekly Outflow

Fixed Income ETFs Register Rare Weekly Outflow

Overall ETF flows were positive led by S&P 500 ETFs.

sumit
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Senior ETF Analyst
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Reviewed by: etf.com Staff
,
Edited by: Ron Day

The SPDR S&P 500 ETF Trust (SPY) topped the inflows charts last week as the U.S. stock market hit fresh record highs led by A.I. powerhouse Nvidia.

Investors added nearly $3 billion to the world’s largest exchange-traded fund, more than a quarter of the $11 billion in total that went into U.S.-listed ETFs last week.

The two other giant S&P 500-focused ETFs, the Vanguard 500 Index Fund (VOO) and the iShares Core S&P 500 ETF (IVV), also registered weekly inflows of around a billion dollars each.  

The S&P 500 closed above 5,321 for the first time ever last Tuesday, bringing its year-to-date gains up to 12.2%.

Investors have added a net $230.4 billion to U.S.-listed ETFs in aggregate so far this year.  

Fixed Income Outflows

In addition to S&P 500 ETFs, investors also bought funds tied to the Nasdaq and emerging markets last week.

The iShares MSCI Emerging Markets ETF (EEM) had inflows of $1.1 billion, while the Invesco NASDAQ 100 ETF (QQQM) had inflows of $857 million.

On the other hand, U.S. fixed income ETFs registered a rare weekly outflow to the tune of $989 million last week.

The iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD) and the iShares 20+ Year Treasury Bond ETF (TLT) were the biggest flows losers, with redemptions of $1.1 billion and $893 million, respectively.

The 30-year Treasury bond yield edged up towards 4.6% last week, up from its recent low of 4.5%. TLT has returned -7.5% so far this year, more than reversing last year’s 2.8% gain.  

However, on a year-to-date basis, flows for U.S. fixed income ETFs remain strong. Investors had put $50.7 billion into the category so far in 2024, behind only U.S. equity ETFs, which have year-to-date inflows of $123.2 billion.

For a full list of last week’s top inflows and outflows, see the tables below:

Top 10 Creations (All ETFs)

TickerNameNet Flows ($, mm)AUM ($, mm)AUM % Change<
SPYSPDR S&P 500 ETF Trust2,973.36525,798.830.57
VOOVanguard 500 Index Fund1,331.33452,365.620.29
EEMiShares MSCI Emerging Markets ETF1,071.2819,148.875.59
IVViShares Core S&P 500 ETF934.40460,662.110.20
QQQMInvesco NASDAQ 100 ETF857.1625,638.603.34
SCHXSchwab U.S. Large-Cap ETF850.3541,478.052.05
HYGiShares iBoxx USD High Yield Corporate Bond ETF541.0217,014.373.18
IBITiShares Bitcoin Trust537.2519,156.812.80
SMHVanEck Semiconductor ETF524.9120,664.652.54
IEFAiShares Core MSCI EAFE ETF499.25117,969.540.42



 

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($, mm)AUM ($, mm)AUM % Change
LQDiShares iBoxx USD Investment Grade Corporate Bond ETF-1,121.8128,416.09-3.95
TLTiShares 20+ Year Treasury Bond ETF-893.4946,860.87-1.91
XLVHealth Care Select Sector SPDR Fund-643.9139,027.16-1.65
BUFCAB Conservative Buffer ETF-535.34550.72-97.21
RSPInvesco S&P 500 Equal Weight ETF-524.5255,459.07-0.95
GLDSPDR Gold Trust-488.2963,058.49-0.77
SOXLDirexion Daily Semiconductor Bull 3X Shares-419.1911,136.86-3.76
XLEEnergy Select Sector SPDR Fund-417.0837,899.42-1.10
PBUSInvesco MSCI USA ETF-399.394,397.17-9.08
IEFiShares 7-10 Year Treasury Bond ETF-381.2529,244.24-1.30



 

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
Alternatives35.647,651.890.47%
Asset Allocation67.7318,218.850.37%
Commodities-850.23144,417.34-0.59%
Currency740.6661,597.721.20%
International Equity3,285.051,508,411.020.22%
International Fixed Income1,165.72199,190.930.59%
Inverse1,025.5614,408.037.12%
Leveraged-996.5097,331.07-1.02%
U.S. Equity7,531.055,544,699.050.14%
U.S. Fixed Income-989.011,386,262.56-0.07%
Total:11,015.688,982,188.460.12%



 

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
Alternatives734.197,545.609.73%
Asset Allocation156.7617,603.730.89%
Commodities-4,457.34141,725.43-3.15%
Currency12,337.9856,479.9421.84%
International Equity32,110.281,454,982.642.21%
International Fixed Income16,836.62191,222.058.80%
Inverse-869.6813,467.27-6.46%
Leveraged-392.4591,946.51-0.43%
U.S. Equity123,206.685,369,234.472.29%
U.S. Fixed Income50,713.131,362,597.823.72%
Total:230,376.178,706,805.442.65%



 

Top 10 Volume Surprises, Funds >$50 mm AUM

TickerNameAverage Volume
(30 Day)
1 Week Average
Volume
% of Average
UCRDVictoryShares Corporate Bond ETF16,499379,001.002,297.05%%
XHYCBondBloxx USD High Yield Bond Consumer Cyclicals Sector ETF1,43131,250.002,183.32%%
CDXSimplify High Yield PLUS Credit Hedge ETF101,1952,020,791.001,996.92%%
GVIPGoldman Sachs Hedge Industry VIP ETF20,428365,766.001,790.49%%
CSDInvesco S&P Spin-Off ETF4,84581,660.001,685.45%%
CNYAiShares MSCI China A ETF12,148186,601.001,536.07%%
GMAYFT Vest U.S. Equity Moderate Buffer ETF - May23,477360,372.001,535.00%%
RZVInvesco S&P SmallCap 600 Pure Value ETF14,197208,473.001,468.38%%
AESRAnfield U.S. Equity Sector Rotation ETF97,7271,395,565.001,428.03%%
SHLDGlobal X Defense Tech ETF116,6751,447,900.001,240.97%%



 

Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.

Sumit Roy is the senior ETF analyst for etf.com, where he has worked for 13 years. He creates a variety of content for the platform, including news articles, analysis pieces, videos and podcasts.

Before joining etf.com, Sumit was the managing editor and commodities analyst for Hard Assets Investor. In those roles, he was responsible for most of the operations of HAI, a website dedicated to education about commodities investing.

Though he still closely follows the commodities beat, Sumit covers a much broader assortment of topics for etf.com, with a particular focus on stock and bond exchange-traded funds.

He is the host of etf.com’s Talk ETFs, a popular video series that features weekly interviews with thought leaders in the ETF industry. Sumit is also co-host of Exchange Traded Fridays, etf.com’s weekly podcast series.

He lives in the San Francisco Bay Area, where he enjoys climbing the city’s steep hills, playing chess and snowboarding in Lake Tahoe.