Investors piled into U.S.-listed exchange-traded funds last week as the Fed cut rates and stocks hit record highs.

On net, over $61 billion flowed into U.S.-listed exchange-traded funds during the week ending Friday, Sept. 20. Of that, almost $50 billion went into U.S. equity ETFs.

The Fed surprised many investors with a 50 basis point rate cut last week, bolstering hopes that the U.S. economy could see a soft landing. 

The S&P 500 surged to record highs, surpassing its previous peak from July.

The Vanguard 500 Index Fund (VOO) and the SPDR S&P 500 ETF Trust (SPY) were two of the most popular ETFs last week, with inflows of $8.8 billion and $4.1 billion, respectively.

Sandwiched between them was the Pacer U.S. Cash Cows 100 ETF (COWZ), which picked up $4.3 billion of new money.

On the flip side, the Financial Select Sector SPDR Fund (XLF) and the iShares 20+ Year Treasury Bond ETF (TLT) were the two ETFs with the largest outflows.  

Some investors may have speculated that lower rates could hurt the profitability of financial services companies, while others might believe that the Fed's rate cuts are already priced into bond markets. 

For a full list of last week's top inflows and outflows, see the tables below:


Top 10 Creations (All ETFs)

Top 10 Redemptions (All ETFs)