Credit: Shutterstock photoInvestors poured fresh money into exchange-traded funds last week, as more measured comments from Federal Reserve Chairman about the end of the era of easy money lifted financial markets out of the selling mode that has prevailed for almost the past two months.
Net inflows totaled more than $9 billion-with U.S. equities inflows totaling more than $11 billion-and total U.S.-listed ETF assets jumped to just shy of $1.5 trillion at the end of the five-day period ended Thursday, July 11, according to data compiled by IndexUniverse. The S&P 500 meanwhile rose about 1.4 percent to a fresh record of 1,675.02.
Apart from the SPDR S&P 500 ETF (NYSEArca:SPY), which pulled in almost $6 billion, the iShares Russell 2000 ETF (NYSEArca:IWM) gathered almost $1.5 billion.
On the flip side, SPDR Gold Shares (NYSEArca:GLD), the world's biggest physical gold ETF, suffered redemptions of more than $1 billion, with total assets at just shy of $39 billion, or about 45 percent below where they were at the end of last year.
Gold's fate is a perfect metaphor for views in financial markets that the macroeconomy is starting to stabilize after the market crash five years ago. Bernanke's newest comments this week that quantitative easing and zero short-term interest rates won't end as quickly as some had feared helped to put gold on the defensive. The lack of inflation in the wake of the Fed's QE has damaged gold's allure, analysts say.
Top 10 Creations (All ETFs )
Top 6 Redemptions (All ETFs)
ETF Weekly Flows By Asset Class
Top 10 Volume Surprises, Funds 'gt;$50 mm AUM
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and 'lt;1,000 Shares Traded
Top 10 YTD Performers
Bottom 10 YTD Performers
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 Nasdaq, Inc.
