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The ETF industry ended up with $201 million in net creation activity for the week ending May 2, 2008, a light week for an industry where billion-dollar swings are the norm. Once again, the number of ETFs enjoying creation activity outnumbered the number with redemption activity, 141 to 87.
Largest Creation Value
The iShares Russell 2000 ETF (IWM) topped all funds with $1.1 billion in net creation value, helping to push total assets on the fund back over the $10 billion mark.
From there, the list of the top 20 funds is a real hodgepodge. Interestingly, the popular iShares 1-3 Year Treasury ETF (SHY) notched a second place by gathering more than $670 million in new assets, while the iShares Short Treasury (SHV) fund pulled in $154 million.
Four UltraShort ProShares funds make the list, suggesting some investors expect a pullback in the market soon: Oil & Gas, NASDAQ-100, Financials and S&P 500.
Two currency funds also make notable appearances: the PowerShares DB US Dollar Index Bullish Fund (UUP) and the Rydex Euro Currency Trust (FXE).
There are no obvious trends in where investors were placing their money.
| ETF Creation Activity - Week Ending May 2, 2008 |
| Fund |
Ticker
|
Total Assets
|
Creation Value
|
| iShares Russell 2000 |
IWM |
10,683,400,000 |
1,070,160,000 |
| iShares Lehman 1-3 Year Treasury Bond Fund |
SHY |
9,956,496,000 |
672,624,000 |
| S&P 400 MidCap SPDR |
MDY |
8,962,499,480 |
386,075,000 |
| iShares FTSE/Xinhua China 25 |
FXI |
7,409,904,500 |
362,227,000 |
| ProShares UltraShort Oil & Gas |
DUG |
1,558,836,000 |
289,218,000 |
| ProShares UltraShort QQQ |
QID |
1,475,344,500 |
249,354,000 |
| PowerShares DB US Dollar Index Bullish Fund |
UUP |
346,408,000 |
154,972,000 |
| Rydex Euro Currency Trust |
FXE |
1,329,517,000 |
154,595,000 |
| iShares Lehman Short Treasury Bond Fund |
SHV |
891,486,000 |
154,084,000 |
| Select Sector SPDR-Materials |
XLB |
1,851,660,876 |
137,020,000 |
| Select sector SPDR-Technology |
XLK |
3,183,269,244 |
126,582,000 |
| iShares S&P MidCap 400 |
IJH |
4,919,157,000 |
105,925,000 |
| KBW Bank ETF |
KBE |
800,463,114 |
104,590,500 |
| Vanguard Emerging Markets ETF |
VWO |
7,116,145,697 |
102,725,212 |
| ProShares UltraShort Financials |
SKF |
2,038,673,250 |
98,080,500 |
| MACROshares Oil Up Tradeable Shares |
UCR |
395,730,500 |
82,522,000 |
| iShares Lehman Aggregate Bond Fund |
AGG |
8,795,962,000 |
81,256,000 |
| SPDR S&P Homebuilders ETF |
XHB |
1,080,268,000 |
80,360,000 |
| iShares iBoxx $ High Yield Corporate Bond Fund |
HYG |
729,000,000 |
77,760,000 |
| ProShares UltraShort S&P 500 |
SDS |
2,431,068,000 |
75,708,000 |
|
Largest Redemption Value
Redemption activity was light across the ETF space, with the Select Sector SPDR (XLE) fund topping the list with $791 million in net redemptions.
Two energy names saw significant pullbacks, with redemptions in both the Oil Services HOLDRS (OIH) and United States Oil Fund (USO).
But generally, redemptions were light across the board.
| ETF Redemption Activity - Week Ending May 2, 2008 |
| Fund |
Ticker
|
Total Assets
|
Redemption Value
|
| Select Sector SPDR-Energy |
XLE |
5,088,257,680 |
(790,955,000) |
| PowerShares QQQ Trust |
QQQQ |
18,496,830,000 |
(487,400,000) |
| Retail HOLDRS |
RTH |
543,309,060 |
(351,797,220) |
| Oil Services HOLDRS |
OIH |
2,312,570,512 |
(297,340,596) |
| streetTRACKS Gold Trust |
GLD |
15,920,329,000 |
(294,665,000) |
| Select Sector SPDR-Financial |
XLF |
8,087,375,502 |
(268,417,500) |
| DJIA DIAMONDS |
DIA |
9,285,319,791 |
(260,040,000) |
| United States Oil Fund LP |
USO |
462,315,000 |
(226,625,000) |
| iShares S&P SmallCap 600 |
IJR |
4,345,929,000 |
(203,616,000) |
| Select Sector SPDR-Industrial |
XLI |
1,734,560,793 |
(186,192,000) |
| iShares MSCI-EAFE |
EFA |
47,076,102,000 |
(180,888,000) |
| iShares Russell 2000 Growth |
IWO |
2,883,040,000 |
(179,216,000) |
| iShares S&P 500 |
IVV |
19,323,435,000 |
(176,437,500) |
| Ultra QQQ ProShares |
QLD |
1,091,697,750 |
(161,493,750) |
| Select Sector SPDR-Consumer Staples |
XLP |
2,397,592,364 |
(153,526,500) |
| iShares Nasdaq Biotech |
IBB |
1,363,939,500 |
(151,107,000) |
| iShares Lehman 20+ Year Treasury Bond Fund |
TLT |
1,662,731,000 |
(130,046,000) |
| iShares DJ US Real Estate |
IYR |
2,113,631,000 |
(127,242,000) |
| Rydex Japanese Yen Trust |
FXY |
1,002,468,500 |
(105,523,000) |
| Select Sector SPDR-Utilities |
XLU |
2,447,731,848 |
(91,102,500) |
|
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