Weekly ETF Flows: TIPS Get Traction

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Investors plowed money into bond ETFs targeting Treasury inflation-protected securities in the past week in a sign of growing concern about mounting inflationary pressures as the U.S. economic recovery gains steam.

Overall, total U.S.-listed ETF assets dipped to just below $.1461 trillion in the week ended Thursday, March 21, from the record $1.468 trillion at the end of the prior week, according to data compiled by IndexUniverse.

Among the popular TIPS funds were the iShares Barclays TIPS Fund (NYSEArca:TIP) and the FlexShares iBoxx 3-Year Target Duration TIPS (NYSEArca:TDTT), which pulled in $519 million and $355 million, respectively, with flows into the FlexShares fund amounting to more than a third of its $1.39 billion in assets.


Another bond fund made it onto IndexUniverse's "Top 10 Creations" list, the iShares Barclays Short Treasury Bond Fund (NYSEArca:SHV), suggesting money is moving to the shorter end of the yield curve, where changes in inflation expectations and rising rates don't hit bond prices as hard as they do longer-dated debt.

The asset moves come at a time when some in the market, looking at rising inflation readings, are wondering if the Federal Reserve may end up having to begin reversing the half-decade of ultra-easy monetary policy sooner than the 2015 time frame Fed Chairman Ben Bernanke has indicated. Those views continue to hold sway even as problems in Cyprus stoke old eurozone-related anxiety.

Noteworthy Redemptions

The SPDR Gold Shares (NYSEArca:GLD), the world's biggest physical gold ETF, lost almost $775 million in assets last week, a small directional sign that gold allure could possibly be fading after 12 years of rallying prices.

Another noteworthy redemption was the $1.62 billion that came out of the iShares MSCI Emerging Markets Index Fund (NYSEArca:EEM), as well as the nearly $1 billion that bled out of the Vanguard High Dividend Yield ETF (NYSEArca:VYM).

VYM's redemptions, in particular, were interesting, as they amounted to a reversal of $1 billion in inflows last week. The back-and-forth movement suggests some sort of rebalancing at the fund level or perhaps a brief period of cash equitization by a large institutional player.

Top 10 Creations (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
IWF iShares Russell 1000 Growth 1,333.26 19,336.60 7.41%
MDY SPDR S&P MidCap 400 562.78 12,135.40 4.86%
IWM iShares Russell 2000 525.97 21,267.37 2.54%
TIP iShares Barclays TIPS Bond 519.01 21,267.34 2.50%
TDTT FlexShares iBoxx 3-Year Target Duration TIPS 355.10 1,389.38 34.33%
XRT SPDR S&P Retail 319.12 1,293.86 32.74%
SHV iShares Barclays Short Treasury Bond 297.58 3,119.23 10.55%
XLE Energy Select SPDR 263.87 7,683.68 3.56%
XLU Utilities Select SPDR 261.08 5,990.08 4.56%
XLY Consumer Discretionary Select SPDR 250.68 4,395.75 6.05%


Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 -3,292.38 130,422.66 -2.46%
EEM iShares MSCI Emerging Markets -1,623.10 46,149.10 -3.40%
VYM Vanguard High Dividend Yield -999.41 5,284.02 -15.91%
GLD SPDR Gold -774.66 63,341.94 -1.21%
IWR iShares Russell Midcap -412.33 7,263.31 -5.37%
XLI Industrial Select SPDR -335.57 4,665.14 -6.71%
HDV iShares High Dividend Equity -255.39 2,620.75 -8.88%
EZU iShares MSCI EMU -188.11 2,142.71 -8.07%
DIA SPDR Dow Jones Industrial Average Trust -168.62 10,998.95 -1.51%
OIH Market Vectors Oil Services -120.54 1,404.90 -7.90%


ETF Weekly Daily Flows By Asset Class

Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 750.79 698,044.89 0.11%
International Equity -1,240.75 353,982.85 -0.35%
U.S. Fixed Income 2,090.81 232,512.75 0.90%
International Fixed Income 49.13 26,987.14 0.18%
Commodities -1,061.20 108,135.88 -0.98%
Currency -29.81 2,734.38 -1.09%
Leveraged -96.21 13,831.43 -0.70%
Inverse 204.17 18,274.25 1.12%
Asset Allocation 63.66 3,050.41 2.09%
Alternatives 29.66 3,398.27 0.87%
Total: 760.26 1,460,952.25 0.05%


Top 10 Volume Surprises, Funds 'gt;$50 mm AUM

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
PBJ PowerShares Dynamic Food & Beverage 62,837 1,465,674 466.50%
GML SPDR S&P Emerging Latin America 21,232 381,131 359.02%
DTYS iPath U.S. Treasury 10-Year Bear ETN 42,198 695,749 329.76%
GOVT iShares Barclays U.S. Treasury Bond 114,819 1,818,286 316.72%
VGIT Vanguard Intermediate-Term Government Bond 30,024 442,812 294.97%
XVZ iPath S&P Dynamic VIX ETN 85,799 1,264,537 294.77%
EFZ ProShares Short MSCI EAFE 132,362 1,852,054 279.85%
IGN iShares S&P North American Technology-Multimedia Networking 86,562 1,184,765 273.74%
NORW Global X FTSE Norway 63,381 841,474 265.53%
ZROZ PIMCO 25+ Year Zero Coupon U.S. Treasury 15,733 208,677 265.28%


Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and 'lt;1,000 Shares Traded

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
GRN iPath Global Carbon ETN 21.72% 2,575 0.65
ITB iShares Dow Jones U.S. Home Construction 4.62% 26,568,901 2,499.86
DFJ WisdomTree Japan SmallCap Dividend 4.27% 403,661 179.04
JSC SPDR Russell/Nomura Small Cap Japan 4.20% 75,727 69.06
NAGS Teucrium Natural Gas 4.18% 22,887 3.74
GAZ iPath Dow Jones-UBS Natural Gas Total Return ETN 3.74% 588,096 41.35
SCJ iShares MSCI Japan Small Cap 3.39% 68,312 58.96
GLDX Global X Gold Explorers 3.27% 218,423 37.77
FJP First Trust Japan AlphaDex 3.24% 30,343 13.75
GDX Market Vectors Gold Miners 3.18% 60,356,144 7,639.82
Bottom 10 Weekly Performers, Excluding Leverage/Inverse Funds and 'lt;1,000 Shares Traded
Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
SCIF Market Vectors India Small-Cap -9.43% 2,000,051 107.19
INXX EGShares India Infrastructure -9.42% 147,233 51.16
GREK Global X FTSE Greece 20 -7.63% 204,134 24.17
SCIN EGShares India Small Cap -7.21% 50,448 20.88
JJT iPath Dow Jones-UBS Tin Total Return ETN -5.79% 6,701 8.27
EPI WisdomTree India Earnings -5.42% 13,647,142 1,067.44
KWT Market Vectors Solar Energy -5.32% 27,944 11.58
BRAQ Global X Brazil Consumer -5.12% 49,869 24.26
FBZ First Trust Brazil AlphaDex -5.00% 6,403 5.79
BRAZ Global X Brazil Mid Cap -4.91% 16,996 18.61

Top 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
IDXJ Market Vectors Indonesia Small Cap 25.06 2.99 6.44
DXJ WisdomTree Japan Hedged Equity 21.06 1.84 5,461.36
DBJP db X-trackers MSCI Japan Hedged Equity 20.67 1.27 18.68
IAI iShares Dow Jones U.S. Broker-Dealers 20.65 -0.70 94.08
XTN SPDR S&P Transportation 19.99 -1.77 38.70
VNM Market Vectors Vietnam 19.12 -0.70 440.14
KBWC PowerShares KBW Capital Markets 18.33 -2.87 9.77
IYT iShares Dow Jones Transportation Average 17.70 -0.12 777.35
FXG First Trust Consumer Staples AlphaDEX 17.58 1.20 489.88
GAZ iPath Dow Jones-UBS Natural Gas Total Return ETN 17.16 3.74 41.35

Bottom 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
GRN iPath Global Carbon ETN -36.19 21.72 0.65
VIIX VelocityShares VIX Short Term ETN -32.74 2.82 17.69
VXX iPath S&P 500 VIX Short-Term Futures ETN -32.74 2.82 1,289.21
VIXY ProShares VIX Short-Term -32.40 2.84 214.29
VIIZ VelocityShares VIX Mid Term ETN -22.81 1.69 3.94
VXZ iPath S&P 500 VIX Mid-Term Futures ETN -22.81 1.69 57.22
VIXM ProShares VIX Mid-term -22.74 1.70 68.37
GLDX Global X Gold Explorers -22.72 3.27 37.77
SCIF Market Vectors India Small-Cap -22.02 -9.43 107.19
SLVP iShares MSCI Global Silver Miners -19.51 -0.23 1.77

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.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , ETFs

Referenced Stocks: EEM , GLD , SHV , TIP , VYM

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