Daily ETF Flows
Daily ETF Flows: SPY Nets $836.5 Million
June 30, 2011
An earlier version of the following story incorrectly stated total inflows, as data from State Street Global Advisors were largely missing. A corrected repetition, including SSgA flows, follows.
Investors poured $836.5 million into the SPDR S&P 500 ETF (NYSEArca: SPY) on Wednesday, as stocks rose following the approval by Greece’s parliament of an austerity plan aimed at helping the Mediterranean country manage its large debt load.
Overall, $1.82 billion in new money flowed into U.S.-listed ETFs, lifting total assets to more than $1.089 trillion from $1.079 trillion on Tuesday, according to data compiled by IndexUniverse.
Rising stocks helped lift the asset total, with the Dow Jones industrial average increasing 72.73 points, or 0.6 percent, to 12,261.42, largely because of the vote in Greece, which markets interpreted as a sign that Greece would avoid a debt default, at least for now.
The second fund on IndexUniverse’s “Top 10 Creations” list was the Vanguard MSCI Emerging Markets ETF (NYSEArca: VWO), which gathered $334.9 million in new assets. Another of Vanguard’s funds, its Small-Cap ETF (NYSEArca: VB), added $108.4 million.
It’s possible that the Vanguard inflows were related to monthly rebalancing. Creation and redemption activity on Vanguard ETFs often spikes at the end of one month and the beginning of the next due to rebalancing, Vanguard official have told IndexUniverse.
A number of sector funds from State Street Global Advisors were also among yesterday’s most popular funds, including the SPDR S&P Retail ETF (NYSEArca: XRT). XRT’s inflows of $133 million amounted to more than a quarter of its assets, which ended the day at $657 million.
A few bond funds also pulled in assets yesterday, including the iShares iBoxx $ Investment Grade Corporate Bond Fund (NYSEArca: LQD), which added $65.8 million in new assets.
Yesterday’s least popular security was the iPath S&P 500 VIX Mid-Term Futures ETN (NYSEArca: VXZ), which lost $257.7 million, or almost a third of its assets. It now has almost $538 million.
A slew of bond funds also had redemptions yesterday, possibly in connection with the end of the Federal Reserve’s quantitative easing program.
Analysts generally agree that so-called QE2 fueled a rally in bond markets as well as in stocks and commodities, even as it failed to spur a significant uptick in lending and employment.
Bond funds that suffered outflows included the iShares Barclays TIPS Bond Fund (NYSEArca: TIP) and the iShares Barclays 1-3 Year Treasury Bond Fund (NYSEArca: SHY). TIP lost almost $111 million a day after hauling in $132.7 million, while SHY suffered outflows of almost $110 million a day after pulling in $126.5 million.
Other bond funds on IndexUniverse’s “Top 10 Redemptions” list included the iShares Barclays Agency Bond Fund (NYSEArca: AGZ) and the iShares Barclays 7-10 Year Treasury Bond Fund (NYSEArca: IEF). AGZ suffered outflows of $33.2 million and IEF bled $28.9 million.
Top 10 Creations (All ETFs)
Bottom 10 1-Day Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
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.