Equity ETFs Bleed Assets Amid Turbulent Markets

Meanwhile, U.S. fixed income funds pulled in over $6 billion last week.

ShubhamSaharan_white_bg
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Reviewed by: Shubham Saharan
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Edited by: Shubham Saharan

U.S. equity ETFs hemorrhaged assets last week as wobbling markets caused investors to pull funds from the asset class.  

More than $14 billion escaped U.S. stock funds in the week ending March 24, etf.com data shows. That’s a reversal from the $17.5 billion that went into the asset class the week prior.  

The losses come in the same week the Federal Reserve raised rates 25 basis points, less than what was expected a few weeks ago, after a series of bank collapses and rescues suggested a worrisome fragility to the U.S. and European banking sectors.  

The hike brings the federal funds rate to between 4.75% and 5%, the highest level since 2007.  

Funds that saw the greatest outflows included the Vanguard Total Stock Market ETF (VTI), the iShares Select Dividend ETF (DVY) and the Vanguard Dividend Appreciation ETF (VIG). Collectively, the three funds lost $7.3 billion, according to etf.com data.  

Meanwhile, the iShares ESG Aware MSCI USA ETF (ESGU) bled nearly $5.2 billion last week, etf.com data shows. That’s a record loss for the largest environmental, social and governance index fund, which may be shedding billions of dollars as a result of the ongoing political backlash over so-called socially responsible investing.  

Nearly that same amount went into the iShares MSCI USA Quality Factor ETF (QUAL), the top asset gatherer of the week, during the same period.   

On the other side of the ledger, U.S. fixed income funds brought in $6.1 billion last week, just shy of the $6.7 billion that bond funds saw the week before.  

Among the week’s top asset gatherers were the iShares U.S. Treasury Bond ETF (GOVT) and the iShares Core Total USD Bond Market ETF (IUSB), which collectively hauled in nearly $4 billion, etf.com data shows.  

 

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
QUALiShares MSCI USA Quality Factor ETF6,636.3125,180.6926.35%
QQQInvesco QQQ Trust4,258.50168,136.722.53%
GOVTiShares U.S. Treasury Bond ETF2,947.3425,418.1911.60%
EFGiShares MSCI EAFE Growth ETF1,058.2312,251.708.64%
IUSBiShares Core Total USD Bond Market ETF968.7421,801.994.44%
TLTiShares 20+ Year Treasury Bond ETF816.6833,611.652.43%
IVViShares Core S&P 500 ETF686.93294,699.730.23%
VOOVanguard S&P 500 ETF678.75274,846.660.25%
QQQMInvesco NASDAQ 100 ETF648.088,458.587.66%
IYWiShares U.S. Technology ETF606.4610,108.886.00%

 

Top 10 Redemptions (All ETFs)

TickerNameNet Flows ($,mm)AUM ($, mm)AUM % Change
ESGUiShares ESG Aware MSCI USA ETF-5,196.9813,817.86-37.61%
VTIVanguard Total Stock Market ETF-2,570.59269,764.53-0.95%
VIGVanguard Dividend Appreciation ETF-2,421.7963,015.17-3.84%
VYMVanguard High Dividend Yield ETF-2,360.7146,771.53-5.05%
DVYiShares Select Dividend ETF-2,324.2920,568.31-11.30%
MTUMiShares MSCI USA Momentum Factor ETF-1,347.159,551.95-14.10%
VTVVanguard Value ETF-1,205.5796,473.22-1.25%
KRESPDR S&P Regional Banking ETF-1,163.832,570.78-45.27%
VOVanguard Mid-Cap ETF-988.2549,343.14-2.00%
SPYVSPDR Portfolio S&P 500 Value ETF-947.9914,144.88-6.70%

 

ETF Weekly Flows By Asset Class

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity-14,049.823,880,387.30-0.36%
International Equity234.311,213,229.010.02%
U.S. Fixed Income6,182.491,219,925.890.51%
International Fixed Income50.23146,032.000.03%
Commodities182.40135,178.950.13%
Currency-44.083,690.13-1.19%
Leveraged1,027.1553,061.731.94%
Inverse393.9023,564.181.67%
Asset Allocation-48.4315,805.85-0.31%
Alternatives126.247,292.711.73%
Total:-5,945.616,698,167.74-0.09%

 

Asset Classes (Year-to-Date)

 Net Flows ($, mm)AUM ($, mm)% of AUM
U.S. Equity-2,393.603,880,387.30-0.06%
International Equity28,346.461,213,229.012.34%
U.S. Fixed Income39,564.601,219,925.893.24%
International Fixed Income5,081.72146,032.003.48%
Commodities-1,013.57135,178.95-0.75%
Currency-432.503,690.13-11.72%
Leveraged1,239.9253,061.732.34%
Inverse4,100.4023,564.1817.40%
Asset Allocation-2,030.6815,805.85-12.85%
Alternatives-99.237,292.71-1.36%
Total:72,363.536,698,167.741.08%

 

Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded

TickerNameWeekly PerformanceWeekly VolumeAUM ($, mm)
FDNIFirst Trust Dow Jones International Internet ETF8.81%14,79231.73
KEUAKraneShares European Carbon Allowance Strategy ETF8.02%162,96635.91
WGMIValkyrie Bitcoin Miners ETF7.89%370,0755.93
BDRYBreakwave Dry Bulk Shipping ETF7.26%1,311,299101.09
KTECKraneShares Hang Seng TECH Index ETF6.56%7,5677.14
KFVGKraneShares CICC China 5G & Semiconductor Index ETF6.26%10,52615.28
GRNiPath Series B Carbon ETN5.99%66,07452.14
KWEBKraneShares CSI China Internet ETF5.57%63,092,5855,934.92
KARBCarbon Strategy ETF5.46%6,8590.74
CHIKGlobal X MSCI China Information Technology ETF5.38%2,12416.76

 

Top 10 YTD Performers

TickerNameYTD PerformanceWeekly PerformanceAUM ($, mm)
WGMIValkyrie Bitcoin Miners ETF104.92%7.89%5.93
DAMVanEck Digital Assets Mining ETF83.56%3.54%1.37
BITOProShares Bitcoin Strategy ETF71.44%2.39%964.17
XBTFVanEck Bitcoin Strategy ETF70.68%2.23%40.06
BTFValkyrie Bitcoin Strategy ETF69.74%2.37%30.26
MAXISimplify Bitcoin Strategy PLUS Income ETF68.34%1.79%23.61
BITSGlobal X Blockchain and Bitcoin Strategy ETF67.40%0.31%10.81
DAPPVanEck Digital Transformation ETF67.04%2.53%29.35
BITQBitwise Crypto Industry Innovators ETF63.42%1.84%57.71
SATOInvesco Alerian Galaxy Crypto Economy ETF61.92%3.42%3.15

 

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.

Shubham Saharan is a markets reporter at etf.com. Before joining the company, she reported for Bloomberg and the Financial Times. Saharan is a graduate of Barnard College of Columbia University.