ETF Weekly – Feb 11, 2018


The SPDR NYSE Technology ETF (MTK) outperformed all other non-leveraged ETF for the week ending February 9, 2018, finishing flat. The next best performer during this worst week in two years was the SPDR Wells Fargo Preferred Stock ETF (PSK), down -0.4%.
And underperforming other ETFs is the SPDR S&P Oil & Gas Equipment & Services ETF (XES), off about 14.3% this week. The iShares U.S. Oil Equipment & Services ETF (IEZ) was also down 13.4% this week.
Source: ETF Channel




Fund Flows

  • In a complete turnaround, investors yanked $18.9B from US-listed ETFs this week, led by US Equity funds, with -$21.8B outflows. US Fixed Income saw an overall gain of $1.6B, and so did international equities, with $800M of inflows. Inverse and Leveraged ETFs had understandably gained significant assets this week.
  • The largest ETF in the world, SPDR S&P 500 ETF Trust (SPY) lost a lion’s share, some -$17.5B of outflows.
  • Notable inflows include iShares Core S&P 500 ETF (IVV) with another impressive $1.9B AUM gain. Other gainers mostly also follow the theme of flight to quality: iShares Core MSCI EAFE ETF (IEFA), with $1.7 B of inflows, as well as iShares Russell 2000 ETF (IWM), with $565M, SPDR S&P Midcap 400 ETF Trust (MDY), with $461M, and iShares Core U.S. Aggregate Bond ETF (AGG), with $429M. Another standout was ProShares Short VIX Short-Term Futures ETF (SVXY), with $1.6B of net inflows, in a contrarian bet on volatility and also due to the announced delisting of its rival, the VelocityShares Daily Inverse VIX Short-Term ETN (XIV).
  • The iShares MSCI EAFE ETF (EFA) led all other ETFs in outflows this week, -$2.0B. It was followed by bond funds iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD), with -$1.3B, SPDR Bloomberg Barclays High Yield Bond ETF (JNK), -$1.1B, and Shares JP Morgan USD Emerging Markets Bond ETF (EMB), down -$1.1B. The next category of outflows was technology, with Technology Select Sector SPDR Fund (XLK) and PowerShares QQQ Trust (QQQ) losing -$998M and -$942M, respectively.

Source: ETF.com


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