ETF inflows kicked off the new year with a bang as investors put nearly $32 billion to work across the nearly 4,000 U.S.-listed funds.
Of that number, over $25 billion went into U.S. equity exchange-traded funds, while $3.9 billion and $2.5 billion went into U.S. fixed income ETFs and international equity ETFs, respectively.
The biggest winners of the week were the Invesco QQQ Trust (QQQ), the Vanguard S&P 500 ETF (VOO) and the SPDR S&P 500 ETF Trust (SPY), with inflows of $4.6 billion to $6.5 billion.
VOO scored a record for calendar-year inflows last year, adding $113 billion. The ETF currently has $584 billion in assets under management (AUM), just $40 billion shy of the SPDR S&P 500 ETF Trust (SPY), the world’s largest ETF by AUM today.
The S&P 500 performed well during its first week, rising 1%. However, the index remains a couple of percentage points off its all-time high from early December.
Outflows From Small Caps, Long Bonds
On the outflows side of the ledger, the iShares Russell 2000 ETF (IWM), the iShares 20+ Year Treasury Bond ETF (TLT), and the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) topped the list, each with redemptions of more than $1 billion.
IWM rose around 1.5% during the first week of the year, outperforming its large-cap counterparts. Last year, the ETF rose just 11.4%, less than half of SPY’s 24.9% return.
IWM has no exposure to the Magnificent Seven group of tech and tech-adjacent stocks that have been powering the S&P 500.
Meanwhile, TLT was essentially flat during its first week as long bonds attempted to stabilize following a steep drop last year (TLT finished the year with an 8% loss).
The 30-year Treasury yield was last trading at 4.85%, the highest level since Nov. 2023 (bond prices and yields move inversely).
For a full list of last week’s top inflows and outflows, see the tables below:
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change |
| QQQ | Invesco QQQ Trust Series I | 6,511.00 | 319,367.83 | 2.04 |
| VOO | Vanguard S&P 500 ETF | 5,266.91 | 584,101.66 | 0.90 |
| SPY | SPDR S&P 500 ETF Trust | 4,615.77 | 624,531.94 | 0.74 |
| IVV | iShares Core S&P 500 ETF | 1,326.29 | 583,960.93 | 0.23 |
| FBCG | Fidelity Blue Chip Growth ETF | 941.74 | 3,843.56 | 24.50 |
| BIL | SPDR Bloomberg 1-3 Month T-Bill ETF | 831.93 | 36,628.54 | 2.27 |
| VXUS | Vanguard Total International Stock ETF | 781.36 | 74,903.19 | 1.04 |
| VUG | Vanguard Growth ETF | 732.56 | 155,667.65 | 0.47 |
| BND | Vanguard Total Bond Market ETF | 718.55 | 121,484.23 | 0.59 |
| IWD | iShares Russell 1000 Value ETF | 715.57 | 63,194.58 | 1.13 |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change |
| IWM | iShares Russell 2000 ETF | -1,875.72 | 72,156.09 | -2.60 |
| TLT | iShares 20+ Year Treasury Bond ETF | -1,304.43 | 49,718.56 | -2.62 |
| LQD | iShares iBoxx $ Investment Grade Corporate Bond ETF | -1,026.22 | 28,782.08 | -3.57 |
| XLF | Financial Select Sector SPDR Fund | -880.67 | 47,701.20 | -1.85 |
| XLI | Industrial Select Sector SPDR Fund | -751.49 | 20,021.30 | -3.75 |
| XLE | Energy Select Sector SPDR Fund | -605.80 | 33,397.56 | -1.81 |
| IWN | iShares Russell 2000 Value ETF | -402.23 | 12,274.86 | -3.28 |
| TIP | iShares TIPS Bond ETF | -394.74 | 13,151.95 | -3.00 |
| SCHP | Schwab US TIPS ETF | -348.45 | 11,481.44 | -3.03 |
| SPAB | SPDR Portfolio Aggregate Bond ETF | -332.65 | 8,296.05 | -4.01 |
ETF Weekly Flows By Asset Class
| Net Flows ($, mm) | AUM ($, mm) | % of AUM | |
| Alternatives | 31.90 | 8,681.75 | 0.37% |
| Asset Allocation | 232.93 | 21,310.02 | 1.09% |
| Commodities ETFs | -96.59 | 161,085.48 | -0.06% |
| Currency | -996.19 | 110,565.20 | -0.90% |
| International Equity | 2,463.01 | 1,516,108.52 | 0.16% |
| International Fixed Income | 1,429.55 | 252,041.84 | 0.57% |
| Inverse | -426.41 | 11,127.67 | -3.83% |
| Leveraged | 17.60 | 118,059.95 | 0.01% |
| US Equity | 25,223.30 | 6,568,633.85 | 0.38% |
| US Fixed Income | 3,900.39 | 1,532,294.62 | 0.25% |
| Total: | 31,779.49 | 10,299,908.89 | 0.31% |
Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.
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