On The Fly: ETF fund flow highlights

For the week there was a very heavy skew to creations versus redemptions in the top twenty dollar volume flows, but much of that skew is likely related to Russell Reconstitution. Excluding that activity, the two standouts among inflows were the iShares Core S&P 500 ETF (IVV), Invesco QQQ Trust (QQQ), iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD), and iShares 20+ Year Treasury Bond ETF (TLT). In sum those ETFs comprised over 37% of creations. On the redemptions side the single largest outflow was from the SPDR S&P 500 ETF Trust (SPY) at over 30% of outflows. Bonds saw significant redemptions in the form of the iShares iBoxx USD High Yield Corporate Bond ETF (HYG), iShares 1-3 Year Treasury Bond ETF (SHY), and SPDR Bloomberg Barclays High Yield Bond ETF (JNK). Those ETFs made up over 20% of volume. Biotech saw notable outflows as well from the iShares Biotechnology ETF (IBB) and SPDR S&P Biotech ETF (XBI) at over 13% of volume.