Weekly ETF Fund Flows: TIP Of An Iceberg

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Despite a week of volatility and weak price action across U.S. equities markets, the SPDR S&P 500 ETF (NYSEArca:SPY)-the world's largest equities exchange-traded fund-led creations with inflows of $1.91 billion, but it was fixed income as an asset class that stole the limelight.

SPY's inflows amounted to 2 percent higher than their week-earlier level as of last Thursday, May 24. IndexUniverse's weekly flows data covers the five trading days ended May 31, which means it doesn't reflect market reaction to the clearly disappointing May jobs report released this morning by the U.S. Department of Labor. The government said 69,000 jobs were created last month-far fewer than the 195,000 jobs economists had, on average, expected, according to a survey conducted by Bloomberg News.

But even before today's down move in stocks, the Dow Jones industrial average worked its way to its worst monthly performance in two years, ending May 6.2 percent lower and putting an end to a seven-month winning streak. As an asset class, U.S. equities  saw inflows of $5.3 billion this past week, helping push total U.S. ETF assets up 0.6 percent on the week to almost $1.137 trillion.


But fixed income attracted a sizable $1.68 billion in new assets, as investors flocked to the safety of U.S.-linked debt as a way of protecting themselves from the uncertainties surrounding Europe's financial stability.

The iShares Barclays TIPS Bond ETF (NYSEArca:TIP) was an example of that trend, bringing in $386 million in assets in the past week.

It's worth noting that a lot of the funds in the 'Top 10 Creations' list are Vanguard funds. But the numbers should be taken with a grain of salt, for they are probably more reflective of Vanguard's end-of-month portfolio rebalancing in many of its funds than a result of strong investor demand. Vanguard, as a matter of policy, doesn't comment on flows, but has told IndexUniverse in the past that many of its funds undergo rebalancings at the end of one month and the beginning of another.

Top Redemptions

Investors meanwhile took more than $226 million out of commodities ETFs as a way of expressing their concerns over the prospects of declining aggregate demand in an environment of economic uncertainty surrounding not only Europe's debt but also China's appetite for goods and services.

The Market Vectors Oil Services ETF (NYSEArca:OIH) saw outflows of $110 million. Those outflows amounted to more than 9.3 percent of its total assets as of a week ago.

The iShares FTSE China 25 ETF (NYSEArca:FXI) was another unpopular fund, bleeding nearly $95 million in assets in the past week.

Still, leading the pack in terms of outflows was the PowerShares QQQ ETF (NasdaqGM:QQQ), which gave up $773 million, or 2.5 percent, of its assets now pegged at $29.46 billion.

Top 10 Creations (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 1,530.20 96,643.30 1.61%
XLE Energy Select SPDR 1,176.50 6,291.10 23.00%
VB Vanguard Small-Cap 966.50 4,986.41 24.04%
VO Vanguard Mid-Cap 563.27 4,047.59 16.17%
VTV Vanguard Value 475.55 6,129.72 8.41%
VBK Vanguard Small-Cap Growth 468.23 2,406.50 24.16%
EFA iShares MSCI EAFE 462.34 32,823.30 1.43%
VUG Vanguard Growth 446.88 7,494.67 6.34%
TIP iShares Barclays TIPS Bond 386.48 23,677.74 1.66%
VBR Vanguard Small-Cap Value 354.13 2,272.13 18.46%


Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
QQQ PowerShares QQQ -773.64 29,459.50 -2.56%
IYR iShares Dow Jones U.S. Real Estate -197.61 3,727.69 -5.03%
XLI Industrial Select SPDR -160.20 3,007.79 -5.06%
VXF Vanguard Extended Market -132.38 1,322.34 -9.10%
XLF Financial Select SPDR -130.59 5,524.84 -2.31%
OIH Market Vectors Oil Services -110.76 1,074.08 -9.35%
XLV Health Care Select SPDR -95.92 4,262.81 -2.20%
FXI iShares FTSE China 25 -94.77 5,256.15 -1.77%
EWJ iShares MSCI Japan -90.37 4,886.78 -1.82%
XLU Utilities Select SPDR -69.97 6,373.02 -1.09%


ETF Weekly Daily Flows By Asset Class

Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity 5,305.17 518,115.79 1.02%
International Equity -181.73 251,901.02 -0.07%
U.S. Fixed Income 1,682.25 206,538.27 0.81%
International Fixed Income 124.57 16,288.32 0.76%
Commodities -226.15 102,860.13 -0.22%
Currency -43.13 3,088.66 -1.40%
Leveraged 69.93 12,360.32 0.57%
Inverse 231.74 19,690.61 1.18%
Asset Allocation -0.87 1,852.51 -0.05%
Alternatives -65.43 4,298.11 -1.52%
Total: 6,896.36 1,136,993.74 0.61%


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

Ticker Name Average Volume
(30 Day)
1 Week Average
Volume
% of Average
PAF PowerShares FTSE RAFI Asia Pacific ex-Japan Portfolio 5,190 76,845 296.16%
EQL ALPS Equal Weight 18,735 270,172 288.42%
EEMV iShares MSCI Emerging Markets Minimum Volatility 77,084 1,040,351 269.93%
RXI iShares S&P Global Consumer Discretionary 13,190 171,950 260.73%
WPS iShares S&P Developed Ex-US. Property 12,489 150,744 241.41%
EXI iShares S&P Global Industrials 33,674 400,784 238.03%
BWZ SPDR Barclays Capital Short Term International Treasury Bond 38,902 419,679 215.76%
PPH Market Vectors Pharmaceutical 144,811 1,555,285 214.80%
RJI ELEMENTS Rogers International Commodity - Total Return ETN 676,916 6,828,675 201.76%
PBP PowerShares S&P 500 BuyWrite Portfolio 164,273 1,624,180 197.74%


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

Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
GWO ELEMENTS Credit Suisse Global Warming ETN 8.70% 60,574 2.80
FAA Guggenheim Airline 7.55% 76,621 15.46
TSXV Global X S&P/TSX Venture 30 Canada 6.56% 18,006 2.35
GASZ ETRACS Natural Gas Futures Contango ETN 6.25% 24,190 12.20
CHII Global X China Industrials 5.32% 5,999 4.44
ZROZ PIMCO 25+ Year Zero Coupon U.S. Treasury 4.96% 290,970 175.48
EDV Vanguard Extended Duration Treasury 4.75% 189,643 229.01
AGLS AdvisorShares Accuvest Global Long Short 4.63% 52,200 15.20
CHXX EGShares China Infrastructure 4.46% 121,564 12.18
DBEF db-X MSCI EAFE Currency-Hedged Equity 4.45% 52,142 30.97
Bottom 10 Weekly Performers, Excluding Leverage/Inverse Funds and 'lt;1,000 Shares Traded
Ticker Name Weekly Performance Weekly Volume AUM ($, mm)
UNG United States Natural Gas -13.54% 50,581,205 902.65
EU WisdomTree Euro Debt -9.63% 11,331 4.19
IDXJ Market Vectors Indonesia Small Cap -8.54% 3,295 4.41
EWP iShares MSCI Spain -7.93% 3,658,600 130.63
UNL United States 12 Month Natural Gas -7.85% 203,704 36.04
EIDO iShares MSCI Indonesia Investable Market -7.29% 972,350 259.40
IDX Market Vectors Indonesia -7.26% 4,037,008 442.38
UBN ETRACS CMCI Energy Total Return ETN -6.73% 19,600 2.80
NAGS Teucrium Natural Gas Fund -6.69% 8,175 3.32
EMER IQ Emerging Markets Mid Cap -6.43% 2,100 1.51

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: FXI , LQD , OIH , QQQ , TIP

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