Weekly ETF Fund Flows: EEM Loses $2.72B

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Investors yanked more than $5.5 billion out of U.S. ETFs in the past week, with more than half of that coming out of the iShares MSCI Emerging Markets Index Fund (NYSEArca:EEM), as investors beat a hasty retreat out of relatively risky assets such as developing markets and high-yield debt amid concerns that U.S. growth means higher bond yields and head winds for other parts of the global economy.

Overall, total U.S.-listed ETFs dipped a bit less than 1 percent to $1.476 trillion in trading in the week ended Thursday, June 13, according to data compiled by IndexUniverse. The S&P 500 climbed 13.8 points, or 0.85 percent, over that same five-day period, closing at 1,636.36 in a choppy week that featured sharp selling in Japan.

Yields on benchmark 10-year Treasurys have moved more than 50 basis points higher in the past month to 2.13 percent on concern the Federal Reserve will start to end its unprecedented five-year campaign of its zero-interest-rate policy and quantitative easing. The prospect of U.S.-led monetary tightening has, in turn, created concerns about how Japan will be affected and how emerging markets will fare.

A number of large bond funds were also hit with sizable redemptions, including the Shares iBoxx $ High Yield Corporate Bond Fund (NYSEArca:HYG) and the iShares Barclays TIPS Bond Fund (NYSEArca:TIP), which lost $543.6 million and $434.5 million, respectively.

Conversely, shorter-dated debt funds drew in fresh assets-an unsurprising turn of events considering that prices of existing shorter-maturity debt falls less in price than does long-dated debt when bond yields are rising.

Among those shorter-maturity fixed-income ETFs that made it onto IndexUniverse's "Top 10 Creations" list and their respective creations are:

  • iShares Barclays 1-3 Year Credit Bond Fund (NYSEArca:CSJ), with inflows of $210.1 million
  • iShares Barclays Short Treasury Bond Fund (NYSEArca:SHV), with inflows of $209.4 million

Top 10 Creations (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 2,581.99 138,720.61 1.90%
IWM iShares Russell 2000 1,099.27 22,916.03 5.04%
TLT iShares Barclays 20+ Year Treasury Bond 520.13 3,586.28 16.96%
EWG iShares MSCI Germany 404.30 4,107.64 10.92%
XLF Financial Select SPDR 341.74 14,084.73 2.49%
XLI Industrial Select SPDR 305.86 5,105.37 6.37%
GDX Market Vectors Gold Miners 214.65 5,935.79 3.75%
CSJ iShares Barclays 1-3 Year Credit Bond 210.13 10,556.52 2.03%
SHV iShares Barclays Short Treasury Bond 209.44 4,750.91 4.61%
XLV Health Care Select SPDR 141.27 6,849.10 2.11%


Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
EEM iShares MSCI Emerging Markets -2,719.30 34,777.51 -7.25%
IFGL iShares FTSE EPRA/NAREIT Developed Real Estate ex-US. -864.61 916.13 -48.55%
QQQ PowerShares QQQ -637.06 34,997.56 -1.79%
DIA SPDR Dow Jones Industrial Average Trust -617.17 12,227.11 -4.81%
IYR iShares Dow Jones U.S. Real Estate -590.96 4,786.95 -10.99%
HYG iShares iBoxx $ High Yield Corporate Bond -543.62 13,540.50 -3.86%
LQD iShares iBoxx $ Investment Grade Corporate Bond -510.68 21,000.68 -2.37%
TIP iShares Barclays TIPS Bond -434.53 17,263.33 -2.46%
PFF iShares S&P U.S. Preferred Stock -414.06 11,323.63 -3.53%
EWH iShares MSCI Hong Kong -393.17 2,321.47 -14.48%


ETF Weekly Flows By Asset Class

Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 1,344.22 754,492.19 0.18%
International Equity -4,494.28 336,883.12 -1.33%
U.S. Fixed Income -1,476.89 230,820.60 -0.64%
International Fixed Income -363.40 27,083.85 -1.34%
Commodities -290.68 81,556.52 -0.36%
Currency -25.74 2,415.14 -1.07%
Leveraged -125.02 15,771.63 -0.79%
Inverse 65.80 19,977.61 0.33%
Asset Allocation 52.46 3,627.48 1.45%
Alternatives -187.91 3,274.94 -5.74%
Total: -5,501.44 1,475,903.08 -0.37%


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

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
IFGL iShares FTSE EPRA/NAREIT Developed Real Estate ex-US. 1,552,219 36,342,059 468.26%
SBB ProShares Short SmallCap600 208,095 4,835,315 464.72%
IWX iShares Russell Top 200 Value 74,334 1,680,529 452.16%
REK ProShares Short Real Estate 96,396 1,936,158 401.71%
EEV ProShares UltraShort MSCI Emerging Markets 187,569 3,279,606 349.70%
PPA PowerShares Aerospace & Defense 21,282 356,835 335.34%
AGOL ETFS Physical Asian Gold 907 14,975 330.13%
EWH iShares MSCI Hong Kong 5,628,533 89,646,234 318.54%
PIZ PowerShares DWA Developed Markets Technical Leaders 191,792 3,029,062 315.87%
GSP iPath S&P GSCI Total Return ETN 19,642 298,629 304.07%


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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
GRN iPath Global Carbon ETN 8.29% 183,151 0.78
BAL iPath Dow Jones-UBS Cotton Total Return ETN 7.08% 165,749 39.51
DFJ WisdomTree Japan SmallCap Dividend 6.54% 934,364 258.19
SCJ iShares MSCI Japan Small Cap 6.37% 199,792 87.19
JPP SPDR Russell/Nomura PRIME Japan 6.20% 40,058 33.02
FUE ELEMENTS MLCX Biofuels Total Return ETN 6.06% 1,970 1.12
FJP First Trust Japan AlphaDex 6.03% 84,820 18.73
EWJ iShares MSCI Japan 5.85% 385,838,333 10,816.56
JSC SPDR Russell/Nomura Small Cap Japan 5.62% 130,085 92.62
TUR iShares MSCI Turkey Investable Market 5.34% 6,728,231 749.86
Bottom 10 Weekly Performers, Excluding Leverage/Inverse Funds and 'lt;1,000 Shares Traded
Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
JJN iPath Dow Jones-UBS Nickel Total Return ETN -9.76% 1,850 5.38
SCIF Market Vectors India Small-Cap -9.22% 2,251,936 114.08
IDXJ Market Vectors Indonesia Small Cap -9.02% 180,341 9.91
GDXJ Market Vectors Junior Gold Miners -8.88% 14,224,090 1,541.00
GSGO ALPS/GS Momentum Builder Growth Markets Equities and US Treasuries -8.63% 3,950 8.74
GLDX Global X Gold Explorers -7.23% 154,259 30.71
INCO EGShares India Consumer -7.07% 33,056 6.53
SCIN EGShares India Small Cap -6.98% 31,724 19.45
SILJ PureFunds ISE Junior Silver (Small Cap Miners/Explorers) -6.83% 87,200 1.77
INXX EGShares India Infrastructure -6.78% 113,698 60.19

Top 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
TAN Guggenheim Solar 52.81 -3.51 107.22
QCLN First Trust NASDAQ Clean Edge Green Energy 50.20 -0.64 48.69
KWT Market Vectors Solar Energy 38.07 -1.67 14.89
GEX Market Vectors Global Alternative Energy 37.95 -0.26 71.30
IAI iShares Dow Jones U.S. Broker-Dealers 30.87 2.98 112.49
PBW PowerShares WilderHill Clean Energy 30.64 -0.36 172.69
BBH Market Vectors Biotech 29.83 0.32 305.80
XPH SPDR S&P Pharmaceuticals 28.97 3.94 435.18
IBB iShares NASDAQ Biotechnology 28.87 0.94 3,040.96
KBWC PowerShares KBW Capital Markets 28.62 2.51 10.51

Bottom 10 YTD Performers

Ticker Name YTD Performance Weekly Performance AUM ($, mm)
CVOL C-Tracks Citi Volatility ETN -57.61 -2.25 1.89
GLDX Global X Gold Explorers -45.64 -7.23 30.71
GGGG Global X PURE Gold Miners -43.03 -5.91 3.04
SILJ PureFunds ISE Junior Silver (Small Cap Miners/Explorers) -42.99 -6.83 1.77
GDXJ Market Vectors Junior Gold Miners -42.45 -8.88 1,541.00
RING iShares MSCI Global Gold Miners -39.09 -6.22 30.95
SIL Global X Silver Miners -38.90 -5.40 210.60
SLVP iShares MSCI Global Silver Miners -38.38 -4.87 3.97
GDX Market Vectors Gold Miners -38.28 -5.51 5,935.79
PSAU PowerShares Global Gold and Precious Metals -38.19 -5.07 21.65

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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This article appears in: Investing , ETFs

Referenced Stocks: CSJ , EEM , HYG , SHV , TIP

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