On The Fly: Weekly technical notes for S&P 500

ETF fund flows to the top twenty creations and redemptions were positive by a factor of more than 2 to 1 per data from ETF.com. On the creations side over 28% of inflows were to S&P 500 funds. Those funds included the iShares Core S&P 500 ETF (IVV) and the SPDR S&P 500 ETF (SPY). The remainder of largely equity funds went to a blend of small, mid-cap, and growth funds. We have not seen that behavior in some time. Only one bond fund made it into the top ten creations this week and that was the iShares iBoxx USD High Yield Corporate Bond ETF (HYG). On the redemptions side the majority of outflows were from bond funds for the first time in many months. The single largest fund outflow by a wide margin was from the iShares 7-10 Year Treasury Bond ETF (IEF). Other notable funds included the SPDR Bloomberg Barclays Intermediate Term Treasury ETF (ITE) and SPDR Portfolio Long Term Treasury ETF (SPTL).