The iPath S&P 500 VIX-Short-Term Futures ETN (NYSEArca:VXX)
was last week's third-most-popular exchange-traded product last
week, but that didn't stop it from losing a bunch of money too.
VXX pulled in $259.2 million for the trading week ended
Thursday, April 26, making it the third-most-popular ETP after the
SPDR S&P 500 ETF (NYSEArca:SPY) and the iShares Russell 2000
Index Fund (NYSEArca:IWM). SPY led the week, gathering $1.22
billion, while IWM added $648.1 million
But VXX returned -11.7 percent, making it last week's
fifth-worst-performing ETP, behind four other volatility-related
products. At the top of IndexUniverse's "Bottom 10 Weekly
Performers" list was the Citigroup-sponsored C-Tracks Exchange
Traded Notes on the Citi Volatility Index ETN, which lost 16.71
percent. In all, eight of the 10 securities on the biggest
decliners list were volatility related.
That dismal showing is no surprise when it comes to
volatility-related ETPs. Given a harrowing day of trade, they spike
and perform beautifully, but on most days when trade is fairly
smooth, they lose value and, over time, perform abysmally. But they
remain quite popular as tactical insurance-type tools to manage
volatility at a time when investors are bracing for more
macroeconomic volatility.
Overall, net flows were positive to the tune of $3.52 billion,
helping lift total U.S.-listed ETF assets to more than $1.201
trillion, according to data compiled by IndexUniverse.
Best Performers
Natural gas funds were meanwhile among the week's best
performers-a sign perhaps of a period of consolidation rather than
a real turnaround for a market that has cratered over the past few
years amid fairly steady demand that can't keep up with surging
supplies.
The futures-based United States Natural Gas Fund (NYSEArca:UNG)
was the third-best performer last week, returning 6.88 percent.
Among the other gas-related funds on the best-performers list
were:
- The equities-based First Trust ISE-Revere Natural Gas ETF
(NYSEArca:FCG), which gained 4.84 percent
- The futures-based United States 12 Month Natural Gas Fund
(NYSEArca:UNL), which gained 4.61 percent
- The futures-based Teucrium Natural Gas Fund (NYSEArca:NAGS),
which gained 4.52 percent
At the top of the best-performers list was the iShares Dow Jones
U.S Home Construction Index Fund (NYSEArca:ITB), which jumped 8.57
percent.
It was followed by the Market Vectors Egypt ETF (NYSEArca:EGPT),
which gained 7.95 percent.
Biggest Redemptions
The least popular fund in the week was the Nasdaq 100 fund, the
PowerShares QQQ Trust (NasdaqGM:QQQ). Its outflows totaled $490.5
million.
The No. 2 fund on IndexUniverse's "Top 10 Redemptions" list was
the SPDR S&P Retail ETF (NYSEArca:XRT), which bled $231.4
million.
In the No. 3 spot was SPDR Gold Shares (NYSEArca:GLD), the
physical bullion ETF. It had outflows of $221.5 million, but it's
still the second-biggest U.S.-listed ETF, with assets totaling
$68.13 billion.
Top 10 Creations (All ETFs)
| Ticker |
Name |
Net Flows ($,mm) |
AUM ($, mm) |
AUM % Change |
| SPY |
SPDR S&P 500 |
1,122.38 |
102,641.14 |
1.11% |
| IWM |
iShares Russell 2000 |
648.13 |
15,410.51 |
4.39% |
| VXX |
iPath S&P 500 VIX Short-Term Futures ETN |
259.17 |
1,711.77 |
17.84% |
| HYG |
iShares iBoxx $ High Yield Corporate Bond |
234.38 |
14,934.72 |
1.59% |
| XLV |
Health Care Select SPDR |
181.22 |
4,319.60 |
4.38% |
| XLP |
Consumer Staples Select SPDR |
174.16 |
5,442.25 |
3.31% |
| IVV |
iShares S&P 500 |
153.64 |
30,170.61 |
0.51% |
| GDX |
Market Vectors Gold Miners |
146.35 |
8,101.81 |
1.84% |
| LQD |
iShares iBoxx $ Investment Grade Corporate Bond |
138.71 |
20,390.86 |
0.68% |
| VEA |
Vanguard MSCI EAFE |
129.85 |
8,464.34 |
1.56% |
Top 10 Redemptions (All ETFs)
| Ticker |
Name |
Net Flows ($,mm) |
AUM ($, mm) |
AUM % Change |
| QQQ |
PowerShares QQQ |
-490.49 |
33,261.29 |
-1.45% |
| XRT |
SPDR S&P Retail |
-231.37 |
619.43 |
-27.19% |
| GLD |
SPDR Gold |
-221.47 |
68,125.61 |
-0.32% |
| XLB |
Materials Select SPDR |
-171.88 |
2,093.52 |
-7.59% |
| FAS |
Direxion Daily Financial Bull 3x |
-158.28 |
1,482.40 |
-9.65% |
| DIA |
SPDR Dow Jones Industrial Average Trust |
-132.61 |
11,563.25 |
-1.13% |
| IYR |
iShares Dow Jones U.S. Real Estate |
-128.74 |
3,831.13 |
-3.25% |
| SSO |
ProShares Ultra S&P 500 |
-98.13 |
1,557.36 |
-5.93% |
| TNA |
Direxion Daily Small Cap Bull 3x |
-97.69 |
737.79 |
-11.69% |
| MCHI |
iShares MSCI China |
-62.51 |
414.87 |
-13.09% |
ETF Weekly Daily Flows By Asset Class
|
|
Net Flows ($, mm) |
AUM ($, mm) |
% of AUM |
|
U.S. Equity
|
2,004.75 |
548,230.15 |
0.37% |
|
International Equity
|
412.01 |
285,898.20 |
0.14% |
|
U.S. Fixed Income
|
1,167.19 |
197,923.20 |
0.59% |
|
International Fixed Income
|
301.72 |
15,816.28 |
1.91% |
|
Commodities
|
-253.81 |
112,269.81 |
-0.23% |
|
Currency
|
97.78 |
3,351.29 |
2.92% |
|
Leveraged
|
-374.62 |
13,130.59 |
-2.85% |
|
Inverse
|
-111.34 |
19,615.97 |
-0.57% |
|
Asset Allocation
|
12.72 |
1,108.93 |
1.15% |
|
Alternatives
|
262.89 |
4,078.10 |
6.45% |
|
Total:
|
3,519.29
|
1,201,422.51
|
0.29%
|
Top 10 Volume Surprises, Funds 'gt;$50 mm AUM
| Ticker |
Name |
Average Volume
(30 Day) |
1 Week Average
Volume |
% of Average |
| HYMB |
SPDR Nuveen S&P High Yield Municipal Bond |
63,720 |
939,115 |
294.76% |
| DTH |
WisdomTree DEFA Equity Income |
32,770 |
468,185 |
285.74% |
| PZD |
PowerShares Cleantech Portfolio |
12,970 |
181,702 |
280.20% |
| ACWV |
iShares MSCI All Country World Minimum Volatility |
4,245 |
59,400 |
279.86% |
| MLPN |
Credit Suisse Cushing 30 MLP ETN |
69,327 |
947,497 |
273.34% |
| DIM |
WisdomTree International MidCap Dividend |
7,087 |
93,043 |
262.58% |
| XPH |
SPDR S&P Pharmaceuticals |
46,881 |
598,915 |
255.50% |
| PWB |
PowerShares Dynamic Large Cap Growth Portfolio |
68,621 |
828,578 |
241.49% |
| DLS |
WisdomTree International SmallCap Dividend |
26,153 |
309,344 |
236.56% |
| BSJC |
Guggenheim BulletShares 2012 High Yield Corporate
Bond |
22,538 |
265,930 |
235.99% |
Top 10 Weekly Performers, Excluding Leverage/Inverse
Funds and 'lt;1,000 Shares Traded
| Ticker |
Name |
Weekly Performance |
Weekly Volume |
AUM ($, mm) |
| ITB |
iShares Dow Jones U.S. Home Construction |
8.57% |
8,232,348 |
642.75 |
| EGPT |
Market Vectors Egypt |
7.95% |
155,581 |
46.62 |
| UNG |
United States Natural Gas |
6.88% |
55,313,683 |
819.90 |
| JJT |
iPath Dow Jones-UBS Tin Total Return ETN |
5.59% |
28,979 |
69.60 |
| FBT |
First Trust NYSE Arca Biotechnology |
5.26% |
338,968 |
252.11 |
| FCG |
First Trust ISE-Revere Natural Gas |
4.84% |
2,246,875 |
364.59 |
| XBI |
SPDR S&P Biotech |
4.80% |
962,919 |
525.55 |
| XOP |
SPDR S&P Oil & Gas Exploration &
Production |
4.79% |
26,427,868 |
981.34 |
| UNL |
United States 12 Month Natural Gas |
4.61% |
281,015 |
28.15 |
| NAGS |
Teucrium Natural Gas Fund |
4.52% |
16,800 |
1.59 |
Bottom 10 Weekly Performers, Excluding Leverage/Inverse
Funds and 'lt;1,000 Shares Traded
| Ticker |
Name |
Weekly Performance |
Weekly Volume |
AUM ($, mm) |
| CVOL |
C-Tracks Exchange-Traded Notes on the Citi
Volatility |
-16.71% |
82,704 |
7.63 |
| VXBB |
ETRACS 2-Month S&P 500 VIX Futures ETN |
-12.28% |
1,100 |
5.17 |
| VIXY |
ProShares VIX Short-Term |
-11.84% |
2,410,316 |
128.46 |
| VIIX |
VelocityShares VIX Short Term ETN |
-11.82% |
872,086 |
22.75 |
| VXX |
iPath S&P 500 VIX Short-Term Futures ETN |
-11.70% |
200,450,899 |
1,711.77 |
| VXZ |
iPath S&P 500 VIX Mid-Term Futures ETN |
-6.55% |
2,023,569 |
220.29 |
| VIXM |
ProShares VIX Mid-term |
-6.26% |
124,635 |
104.73 |
| VXCC |
ETRACS 3-Month S&P 500 VIX Futures ETN |
-5.75% |
1,100 |
6.42 |
| INXX |
EGShares India Infrastructure |
-5.49% |
75,380 |
55.44 |
| EEH |
ELEMENTS Linked to SPECTRUM Large Cap U.S. Momentum
ETN |
-5.11% |
5,967 |
1.16 |
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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