On The Fly: ETF fund flow highlights

For the week creations bested redemptions by a factor of 6.7 to 1 among the top twenty ETFs, per data from ETF.com. This was the largest overall net-positive flow in months. With over $23B of inflows, S&P 500 funds and sectors were the primary recipients. The SPDR S&P 500 (SPY) comprised over 36% of inflows alone. With the addition of Technology (XLK), Consumer Discretionary (XLY), Vanguard S&P 500 ETF (VOO), and Invesco S&P 500 Equal Weight (RSP) the total was over 71% of inflows. On the redemptions side Russell 2000 funds (IWM, IWO) and bonds were the primary source of outflows. This reflects a shift to a preference for mega-cap noted last week which appears to be ongoing. The iShares Russell 2000 (IWM) and iShares Russell 2000 Growth ETF (IWO) constituted over 24% of outflows. Bond funds including the iShares iBoxx USD High Yield Corporate Bond ETF (HYG), iShares 7-10 Year Treasury Bond ETF (IEF), and iShares TIPS Bond ETF (TIP) were over 26% of redemptions.