Invesco QQQ Trust (QQQ) Dominates with $2.3 Billion Inflow

Issuer League Tables

Invesco led all issuers with a significant $2.91 billion inflow, far outpacing its recent 5-day average collection of $1.95 billion and contributing to its $63.04 billion year-to-date total. Vanguard followed with a more modest $590.9 million in new assets, while SEI captured a notable $444.1 million. On the other end of the spectrum, iShares experienced the day’s largest net redemptions, shedding $1.15 billion, which contrasts with its positive flow trends over the past week, month, and year. Gotham saw the largest relative decline, with outflows of $150.1 million representing nearly 15% of its total assets under management.

Issuer Flows (Absolute)

Issuer Flows (Relative to AUM)

Daily ETF Flow Analysis

ETFs collectively gathered $6.19 billion in net new assets, bringing the year-to-date total to over $1.25 trillion. Fixed Income products led the day with $2.59 billion in inflows, closely followed by Equity funds which attracted $2.26 billion. Commodity ETFs also had a strong session, pulling in $604.9 million. Among categories, U.S. Large Cap – Growth was the clear winner, adding $2.41 billion, while Sector – Information Technology funds experienced the most significant redemptions, with net outflows totaling $1.67 billion.

Asset Class Flows

Category Flows (Top/Bottom 10)

U.S. Size & Style

U.S. Large Cap Growth funds saw significant interest, led by a massive $2.32 billion inflow into the Invesco QQQ Trust Series I (QQQ). The Vanguard S&P 500 ETF (VOO) also gathered a substantial $1.39 billion. Conversely, other broad market trackers faced heavy redemptions, with the State Street SPDR S&P 500 ETF (SPY) shedding $1.88 billion. Similarly, the Vanguard Morningstar Total Stock Market ETF (VTI) and iShares Core S&P 500 ETF (IVV) saw outflows of $804.2 million and $656.4 million, respectively.

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Size & Style ex-U.S.

Flows into international equity funds were modest, with dividend strategies leading the way. The WisdomTree Emerging Markets High Dividend Fund (DEM) attracted the most new capital with an $86.9 million inflow. Following behind was the iShares MSCI EAFE Value ETF (EFV), which collected $65.2 million. On the outflow side, the iShares MSCI EAFE Small-Cap ETF (SCZ) saw the largest redemption of $34.4 million.

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Sector & Industry

The technology sector experienced a significant divergence, with semiconductor funds facing major outflows while other segments saw inflows. The iShares Semiconductor ETF (SOXX) recorded a substantial $1.52 billion redemption, and the VanEck Semiconductor ETF (SMH) lost $200.1 million. In contrast, the State Street Industrial Select Sector SPDR ETF (XLI) led inflows with $249.5 million, and the State Street SPDR S&P Bank ETF (KBE) gathered $206.9 million.

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Region & Country

Country-specific ETFs saw targeted interest, led by a notable $146.9 million inflow into the Franklin FTSE Taiwan ETF (FLTW). Other regional funds attracted smaller amounts, with the iShares Latin America 40 ETF (ILF) adding $34.9 million and the iShares Core MSCI Europe ETF (IEUR) bringing in $23.2 million. Redemptions were minimal across the category, with the iShares MSCI Mexico ETF (EWW) seeing the largest outflow at just $15.3 million.

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Thematic

Thematic fund flows were concentrated in a few specific areas, with the Roundhill Memory ETF (DRAM) standing out by collecting $222.1 million. Cybersecurity also saw demand, as the First Trust NASDAQ Cybersecurity ETF (CIBR) added $72.3 million. The largest outflow was from the First Trust Dow Jones Internet Index Fund (FDN), which experienced redemptions of $85.1 million.

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Fixed Income

Short-duration government debt and CLO funds were the primary beneficiaries of fixed income flows. The iShares 0-3 Month Treasury Bond ETF (SGOV) led all fixed income products with a $748.3 million inflow. The PGIM AAA CLO ETF (PAAA) and Janus Henderson AAA CLO ETF (JAAA) also saw strong interest, adding $214.3 million and $156.7 million, respectively. Conversely, long-duration treasuries saw outflows, with the iShares 20+ Year Treasury Bond ETF (TLT) shedding $346.4 million.

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Commodity

Precious metals funds dominated commodity flows, though demand was split between different products. The SPDR Gold Shares (GLD) was the top asset gatherer in the space, pulling in $430.7 million. The iShares Gold Trust Micro ETF of Benef Interest (IAUM) also saw a healthy $110.6 million inflow. In contrast, the iShares Gold Trust (IAU) experienced the largest redemption in the category, with outflows of $152.5 million.

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Cryptocurrency

Digital asset ETFs continued to attract capital, adding a collective $219.0 million. The iShares Bitcoin Trust ETF (IBIT) led the group with a $128.3 million inflow, while the iShares Ethereum Trust ETF (ETHA) was not far behind, gathering $81.1 million. Outflows were relatively small, with the VanEck Bitcoin ETF (HODL) seeing the largest redemption at $32.8 million.

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Non-Traditional

Leveraged single-stock ETFs were active, with the Leverage Shares 2X Long SPCX Daily ETF (SPCH) recording the largest inflow of $111.6 million (may be the result of a custom rebalance). The Tradr 2X Long SNDK Daily ETF (SNXX) also saw significant interest, adding $82.2 million. On the other side, the JPMorgan Equity Premium Income ETF (JEPI) led redemptions with an outflow of $66.2 million.

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Recent Launches

The past week has seen a variety of new ETF launches, primarily focused on non-traditional strategies. T-REX and Direxion expanded their leveraged and inverse single-stock offerings, while Corgi introduced two new international equity buffer ETFs for the August series. SEI launched its Ang Research Enhanced U.S. Large Cap ETF (ANGU), which has already accumulated $2.5 million in assets since its debut. Additionally, Investment House launched a U.S. Large Cap Growth ETF, and MicroSectors brought new leveraged and inverse semiconductor ETNs to market.