Investors Add $32.9B to ETFs Despite Massive VOO Outflows
U.S.-listed ETFs took in $32.9 billion in fresh money during the week ending Friday, June 27, according to the latest data from FactSet, pushing year-to-date inflows to $549.5 billion.
Fixed-income ETFs led the way with $10.3 billion in net inflows, followed by $8.2 billion for U.S. equity ETFs and $7.7 billion for international equity ETFs.
At the fund level, the iShares Core S&P 500 ETF (IVV) saw the largest inflows by far, pulling in $19.7 billion. It was followed by the SPDR S&P 500 ETF Trust (SPY), which added $10 billion.
The interest in large-cap U.S. equity funds came as the S&P 500 notched new record highs for the first time since February last week. The Nasdaq-100 also set fresh highs, and the Invesco QQQ Trust (QQQ), which tracks that index, saw $1.6 billion in inflows.
But the week’s flow data wasn’t all one-directional. The Vanguard S&P 500 ETF (VOO) shed a massive $22.1 billion in outflows, the largest of any ETF.
The size and timing of some of these flows, particularly in S&P 500-linked ETFs, suggest many were likely heartbeat trades, a technique used by issuers to flush out capital gains and improve tax efficiency for shareholders. In other words, the data may be a bit noisy.
Keep that in mind as you review the full list of last week’s top ETF inflows and outflows below.
Also note that the second quarter officially ended on Monday. We will publish monthly and quarterly flow figures later this week, so stay tuned.
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change< |
| IVV | iShares Core S&P 500 ETF | 19,651.82 | 610,305.78 | 3.22 |
| SPY | SPDR S&P 500 ETF Trust | 9,961.06 | 629,121.83 | 1.58 |
| IWP | iShares Russell Mid-Cap Growth ETF | 2,710.04 | 22,005.56 | 12.32 |
| VONG | Vanguard Russell 1000 Growth ETF | 2,652.12 | 31,708.64 | 8.36 |
| LQD | iShares iBoxx $ Investment Grade Corporate Bond ETF | 1,873.17 | 30,009.42 | 6.24 |
| QQQ | Invesco QQQ Trust Series I | 1,602.30 | 350,755.85 | 0.46 |
| IEMG | iShares Core MSCI Emerging Markets ETF | 1,515.82 | 95,324.37 | 1.59 |
| IWD | iShares Russell 1000 Value ETF | 1,416.10 | 63,110.95 | 2.24 |
| VEA | Vanguard FTSE Developed Markets ETF | 1,404.69 | 162,180.57 | 0.87 |
| IWR | iShares Russell Midcap ETF | 1,385.05 | 43,117.63 | 3.21 |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change |
| VOO | Vanguard S&P 500 ETF | -22,097.11 | 677,903.10 | -3.26 |
| SPHQ | Invesco S&P 500 Quality ETF | -3,597.42 | 13,870.33 | -25.94 |
| VO | Vanguard Mid-Cap ETF | -3,236.75 | 82,827.48 | -3.91 |
| VUG | Vanguard Growth ETF | -1,592.87 | 173,625.11 | -0.92 |
| VTI | Vanguard Total Stock Market ETF | -1,446.04 | 494,800.51 | -0.29 |
| MOAT | VanEck Morningstar Wide Moat ETF | -1,426.00 | 12,590.61 | -11.33 |
| BIL | SPDR Bloomberg 1-3 Month T-Bill ETF | -1,178.04 | 42,873.92 | -2.75 |
| XLE | Energy Select Sector SPDR Fund | -1,007.81 | 27,151.28 | -3.71 |
| VBR | Vanguard Small Cap Value ETF | -970.59 | 29,507.62 | -3.29 |
| VOT | Vanguard Mid-Cap Growth ETF | -845.75 | 16,944.72 | -4.99 |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| Alternatives | -39.85 | 9,952.24 | -0.40% |
| Asset Allocation | 326.94 | 24,904.39 | 1.31% |
| Commodities ETFs | 1,942.38 | 220,819.17 | 0.88% |
| Currency | 1,971.32 | 150,058.13 | 1.31% |
| International Equity | 7,748.64 | 1,861,337.57 | 0.42% |
| International Fixed Income | 1,834.99 | 302,436.10 | 0.61% |
| Inverse | 397.83 | 14,264.32 | 2.79% |
| Leveraged | 242.67 | 142,510.82 | 0.17% |
| US Equity | 8,178.62 | 7,059,672.71 | 0.12% |
| US Fixed Income | 10,285.61 | 1,699,041.36 | 0.61% |
| Total: | 32,889.15 | 11,484,996.83 | 0.29% |
Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data are believed to be accurate; however, transient market data are often subject to subsequent revision and correction by the exchanges.
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