This Week in ETFs
This Week In ETFs
Week of Mar. 22-26, 2021
Total # of ETFs: 2,449
Total AUM: $5.84 trillion
Average Expense Ratio: 0.54%
5-Day Net Flows: $4.19 billion
30-Day Net Flows: $115.80 billion
90-Day Net Flows: $340.71 billion
YTD Net Flows: $231.49 billion
1-Year Net Flows: $726.18 billion
What happened in ETF markets this week? We crunch the numbers below.
NOTE: Unless otherwise stated, data range is from Monday through Thursday's close. ETNs and leveraged/inverse ETFs are excluded.
Best Performing ETFs
Whether it was a defiant Fed in Congressional hearings or a natural pause in runaway yields, the reprieve in rising yields provided the catalyst for long-dated treasury ETFs and Utilities stocks to top the list of best performers so far this week. The Virtus Reaves Utilities ETF (UTES +3.14) was the top utility ETF, followed by iShares U.S. Utilities ETF (IDU +2.55%), and rounded out with the largest and oldest Utilities Select Sector SPDR (XLU +2.46%).
On the fixed income side, duration was your friend for the first time in a while leading to PIMCO 15+ Year US TIPS Index ETF (LTPZ +2.53%) and Vanguard Extended Duration Treasury ETF (EDV+2.52%) gaining the most.
Worst Performing ETFs
Plenty of diversity across the biggest WTD losers including two country specific ETFs with the iShares MSCI Turkey (TUR -18.03%) losing nearly 20% and KraneShares CSI China Internet ETF (KWEB -12.00%) also falling double digits.
Others in the bottom five included two thematic ETFs, ERShares Entrepreneurs ETF (ENTR -14.42%) and the Amplify Transformational Data Sharing ETF (BLOK -13.00%), sandwiching the Credit Suisse S&P MLP Index ETN (MLPO -13.37%).
ETFs with the Largest 5-Day Net Inflows
The largest inflows this week were dominated by broad-based cheap beta strategies led by the SPDR S&P 500 ETF Trust (SPY) recieving $8.9B, Invesco QQQ Trust +$4.47B, iShares Core MSCI Emerging Markets ETF (IEMG) +$1.13B and iShares Russell 1000 Value ETF (IWD) +$798M.
The lone outlier was the relatively expensive iShares U.S. Energy ETF (IYE) finding $783M worth of new buyers who apparently don't mind paying 4x the going rate.
ETFs with the Largest 5-Day Net Outflows
The largest outflow this week goes to last week's biggest inflows as the Vanguard Dividend Appreciation ETF (VIG) completed it's annual rebalance with a custom redemption trade netting over $-12B. Other big outflows, also likely rebalance related, included three more Vanguard equity strategies including Vanguard Mid-Cap ETF (VO) $-3.45B, Vanguard Small-Cap ETF (VB) $-2.29B and the Vanguard Extended Market ETF (VXF) $-1.61B.
One fixed income ETF made the top five outflows which was the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) seeing $-2B flow out the door.
ETF Trading 64.51% Above 200-DMA Yet Below 50-DMA
Per BeSpoke research, this week marked the first time ever the Russell 2000 (IWM) was trading below its 50-DMA but was still more than 20% above its 200-DMA (provides a glimpse at how far and fast small caps have surged). This got me wondering what other ETFs met these technical parameters and it turns out there are currently 43 long-only equity ETFs both below their 50-DMA yet 20% above their 200-DMA. You can easily set the filters yourself in the ETF Terminal but for today I wanted to highlight the Amplify Seymour Cannabis ETF (CNBS) which is currently just below its 50-DMA but still a whopping 65% above the 200-DMA. Now that's some crazy trading action!!
Source: ETF Action
Notable Launches: 3/12-3/18
- Direxion Hydrogen ETF: Invests in the Indxx Global Hydrogen Index, which tracks the performance of companies that provide goods and services to the hydrogen industry.
- iShares International Developed Small Cap Value Factor ETF: Active ETF that invests in international developed market small-capitalization stocks, excluding the U.S. and Korea.
- Schwab International Dividend Equity ETF: Invests in high dividend yielding stocks issued by companies outside of the United States.
- Monarch Funds: A series of ETFs including a bond fund-of-funds, a blue chip ETF and a multi-asset-fund-of-funds.
Notable Filings: 3/12-3/18
- AdvisorShares Gerber Kawasaki ETF: Active ETF that invests in portfolio of growth stocks. Primarily focuses on U.S. exchange traded equity securities and American Depository Receipts.
- Wise Origin Bitcoin Trust has filed to track the performance of bitcoin, as measured by the performance of the Fidelity Bitcoin Index PR.
- Teucrium Commodity Trust has filed for the Teucrium Agricultural Fund to invest in agricultural commodity markets. Specifically, this ETF focuses on corn, soybeans, wheat and sugar.
- First Trust SkyBridge Bitcoin has filed for an ETF to reflect the performance of bitcoin less the Trust’s liabilities and expenses.
Mike Akins is the CEO & Lead ETF Nerd at ETF Action. Contact him at email@example.com.
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