Investors Bought Up IWM, RSP Last Week
A cool $36 billion flowed into U.S.-listed ETFs during the week ending Friday, July 12, pushing year-to-date inflows above $406 billion.
U.S. equity ETFs pulled in the bulk of the weekly inflows as stocks continued to hit record highs, but fixed income ETFs also saw demand as rate cut expectations ticked higher following the latest inflation data.
The S&P 500 was up by almost 19% on a year-to-date basis on Friday. Investors cheered data which showed a smaller-than-expected increase in consumer prices last month.
The probability of a rate cut in September neared 90% after the CPI data came out, which also lent support to bond prices.
Individual flows winners for last week include the SPDR S&P 500 ETF Trust (SPY), the iShares Russell 2000 ETF (IWM) and the iShares 20+ Year Treasury Bond ETF (TLT).
Small caps handily outperformed their large cap counterparts last week as investors rotated into cheaper stocks from the megacap stocks that have led this year’s rally.
The Invesco S&P 500 Equal Weight ETF (RSP) was also in high demand with weekly inflows of $1 billion. The daily return differential between RSP and SPY on Thursday—the day the CPI data came out—was the largest since 2020.
Still, despite there being some rotation from megacaps to smaller stocks, the tech giants that dominate the S&P 500 remain close to their all-time highs.
In other words, everything seems to be working all of a sudden—mega caps, small caps and everything in between.
Only one ETF saw outflows of more than $1 billion last week: the Invesco Russell 1000 Dynamic Multifactor ETF (OMFL).
The Direxion Daily Semiconductor Bull 2X Shares (SOXL) and the ProShares UltraPro QQQ (TQQQ) followed suit with outflows of $663 million and $446 million, respectively, on what seems to be profit taking after huge rallies.
The two ETFs are up 106% and 62%, respectively, so far this year.
For a full list of last week’s top inflows and outflows, see the tables below:
Top 10 Creations (All ETFs)
Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change< |
4,740.04 | 555,682.04 | 0.85 | ||
2,350.39 | 63,863.44 | 3.68 | ||
1,880.52 | 299,633.18 | 0.63 | ||
1,821.62 | 56,723.92 | 3.21 | ||
1,800.97 | 486,827.10 | 0.37 | ||
1,561.35 | 421,753.98 | 0.37 | ||
987.24 | 56,449.81 | 1.75 | ||
859.21 | 17,618.31 | 4.88 | ||
579.24 | 33,735.62 | 1.72 | ||
563.10 | 47,257.09 | 1.19 |
Top 10 Redemptions (All ETFs)
Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change |
-1,935.54 | 5,813.24 | -33.30 | ||
-663.02 | 11,643.74 | -5.69 | ||
-446.15 | 24,844.60 | -1.80 | ||
-390.88 | 504,003.23 | -0.08 | ||
-359.19 | 23,675.83 | -1.52 | ||
-256.67 | 17,829.81 | -1.44 | ||
-159.07 | 13,442.09 | -1.18 | ||
-151.71 | 36,782.06 | -0.41 | ||
-120.77 | 5,452.95 | -2.21 | ||
-103.39 | 6,147.32 | -1.68 |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM |
Alternatives | 174.35 | 8,244.30 | 2.11% |
Asset Allocation | 165.33 | 19,090.69 | 0.87% |
Commodities | 61.89 | 146,839.00 | 0.04% |
Currency | 932.29 | 54,519.91 | 1.71% |
International Equity | 2,029.25 | 1,554,361.19 | 0.13% |
International Fixed Income | 1,474.41 | 201,726.86 | 0.73% |
Inverse | 629.52 | 13,060.93 | 4.82% |
Leveraged | -711.99 | 114,486.85 | -0.62% |
U.S. Equity | 21,689.14 | 5,889,119.15 | 0.37% |
U.S. Fixed Income | 9,336.42 | 1,448,901.00 | 0.64% |
Total: | 35,780.60 | 9,450,349.88 | 0.38% |
Asset Classes (Year-to-Date)
| Net Flows ($, mm) | AUM ($, mm) | % of AUM |
Alternatives | 1,157.42 | 7,931.00 | 14.59% |
Asset Allocation | 717.68 | 18,561.24 | 3.87% |
Commodities | -4,833.02 | 141,439.14 | -3.42% |
Currency | 14,775.18 | 56,973.19 | 25.93% |
International Equity | 56,003.64 | 1,499,474.09 | 3.73% |
International Fixed Income | 28,858.72 | 198,197.40 | 14.56% |
Inverse | 633.13 | 12,987.45 | 4.87% |
Leveraged | -3,924.61 | 107,093.01 | -3.66% |
U.S. Equity | 223,239.35 | 5,749,763.98 | 3.88% |
U.S. Fixed Income | 89,689.93 | 1,430,299.26 | 6.27% |
Total: | 406,317.43 | 9,222,719.75 | 4.41% |
Top 10 Volume Surprises, Funds >$50 mm AUM
Ticker | Name | Average Volume | 1 Week Average | % of Average |
2,071,657.00 | 1,982.37%% | |||
1,819,672.00 | 1,770.79%% | |||
395,838.00 | 1,545.51%% | |||
761,030.00 | 1,406.30%% | |||
1,369,145.00 | 1,361.99%% | |||
9,362,205.00 | 1,172.73%% | |||
34,919.00 | 1,156.46%% | |||
3,885,647.00 | 927.62%% | |||
366,823.00 | 909.55%% | |||
295,600.00 | 802.26%% |
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
12.63% | 1,719,117 | 322.35 | ||
12.46% | 18,536 | 11.25 | ||
10.59% | 40,797 | 13.69 | ||
10.35% | 1,304 | 4.47 | ||
10.21% | 16,601,900 | 2,742.53 | ||
9.49% | 6,015,386 | 1,010.59 | ||
9.44% | 15,055,233 | 1,883.42 | ||
9.40% | 86,492 | 6.45 | ||
9.27% | 628,996 | 226.88 | ||
9.03% | 98,759 | 189.01 |
Top 10 YTD Performers
Ticker | Name | YTD Performance | Weekly Performance | AUM ($, mm) |
106.96% | 2.16% | 842.63 | ||
56.95% | 0.08% | 23,743.68 | ||
47.72% | 1.95% | 15,648.77 | ||
43.23% |
| 763.68 | ||
First Trust SkyBridge Crypto Industry and Digital Economy ETF | 41.26% | 1.15% | 56.92 | |
39.67% | -0.76% | 33.95 | ||
38.98% | 0.17% | 515.22 | ||
37.73% | -0.41% | 2,257.52 | ||
35.99% | 0.86% | 249.52 | ||
35.64% | 0.11% | 16,023.30 |
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.