| 2021-09-17 13:53:06|
LQD, IWM… 13:53 09/17 09/17/21
On The Fly: ETF fund flow highlights
For the week ETF fund flows were skewed by expiration with the bulk of inflows to Vanguard funds and the bulk of outflows from iShares. In terms of creations versus redemptions the ratio was over 6.6 to 1 per data from ETF.com. The flows on the creations side were dominated by S&P 500 funds. The SPDR S&P 500 ETF Trust (SPY) was the single-largest creation at over 33% of inflow. Combined with flows to the Vanguard S&P 500 ETF (VOO) and Invesco S&P 500 Equal Weight ETF (RSP) the inflows summed to over 43%. Other inflows to the Vanguard funds were more evenly split among Total Market, Dividend, and Mid, Small, and Growth. On the redemptions side the single largest outflow was from the iShares Russell 2000 ETF (IWM) at over 40%. The next largest redemption was from the iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD) at over 23.5%. Below those two the drop off in flows was extreme with bond funds making up the bulk of remaining redemptions among the top ten.