ETFs add $12b last week
Investors added a net $12.1 billion in new money into U.S.-listed ETFs last week, driven mainly by a resurgence in three of the biggest broad-market funds.
The U.S. ETF industry has gained just over $51.4 billion in net new assets this year, and has just over $7 trillion in assets under management.
--- according to ETF.com data provider FactSet.
--- according to ETF.com data provider FactSet.
The $Vanguard S&P 500 ETF(VOO.US$ dominated the top of the inflows chart, gaining just shy of $11.7 billion in net assets on the week.
In distant second was the $Invesco QQQ Trust(QQQ.US$, which added $2.5 billion as the tech-heavy $Nasdaq Composite Index(.IXIC.US$ spurned ongoing fears of aggressive Fed rate hikes and a dismal Meta Platforms earnings report to gain 4.38% on the week. The $iShares Core S&P 500 ETF(IVV.US$ rounded out the top three, with $2.25 billion in new assets.
However, the $SPDR S&P 500 ETF(SPY.US$ lost $10.4 billion on the week to continue its slide. The oldest U.S.-listed ETF has lost $21.4 billion in assets year-to-date.
SPY tends to be used as a short-term tool by traders and is more vulnerable to volatility-related sell-offs than IVV or VOO, which have lower expense ratios and are generally used as core equity holdings in long-term investment portfolios.
The U.S. fixed income asset class ended the week with a little more than $1 billion in outflows, with investors buying and selling related ETFs to both ends of the inflow and outflow lists.
This Jekyll & Hyde pattern is clear with the $Ishares Iboxx $ High Yield Corporate Bond Etf(HYG.US$ gaining nearly $702 million on the week, while the $SPDR Bloomberg High Yield Bond ETF(JNK.US$ lost $802 million, despite the two having substantial overlap in the junk bond space.
Funds following bonds with less than a year to maturity flourished as the $SPDR Bloomberg Barclays 1-3 Month T-Bill ETF(BIL.US$ and the $Pimco Etf Trust Enhanced Short Maturity Etf(MINT.US$ gained just over $2.1 billion in the period combined. Meanwhile, the $Vanguard Short-Term Bond ETF(BSV.US$, which tracks bonds with between one and five years to maturity, lost $1.9 billion.
Source: ETF.com
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