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ETF Fund Flows: SPY Bleeds $873.4 Million
By Dave Nadig and Olivier Ludwig | February 22, 2012

Related ETFs: XLF / TLT / AGG / IYR / TBT / SPY

(Story recast to lead with SPY redemptions instead of IYR creations.)

Investors pulled $873.4 million from the SPDR S&P 500 ETF (NYSEArca: SPY), making it No. 1 on IndexUniverse’s “Top 10 Redemptions” list. Despite net outflows, total ETF assets rose to a record $1.186 trillion, propelled by a rise in stocks that briefly lifted the Dow above 13,000 for the first time since 2008.

Net outflows totaled $663.5 million, but total assets under management rose to a record $1, 186 trillion from $1.184 trillion on Monday, Feb. 21, according to data compiled by IndexUniverse. The market’s upward movement offset the net outflows.

The Dow Jones industrial average rose 15.82 points, or 0.1 percent, to close at 12,965. Stocks rallied on news of another round of aid for Greece, as well as generally positive corporate earnings reports. The S&P 500 was up 0.98 points, or 0.07 percent, to close at 1,362.21.

The No. 2 fund on IndexUniverse’s redemptions list was the Financial Select Sector SPDR Fund (NYSEArca: XLF), which had outflows of $185.4 million. The No. 3 fund was the ProShares UltraShort 20+ Treasury (NYSEArca: TBT), which had outflows of $98.0 million.

Creations

Investors meanwhile put $90.5 million the iShares Dow Jones U.S. Real Estate Index Fund (NYSEArca: IYR), making it No.1 on IndexUniverse’s “Top 10 Creations” list.

The No. 2 fund on the creations list was the iShares Barclays 20+ Year Treasury Bond Fund (NYSEArca: TLT), which had inflows of $80.9 million. The No. 3 fund on the list was the iShares Barclays Aggregate Bond Fund (NYSEArca: AGG), which had inflows of $77.1 million.

Top 10 Creations (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
IYR iShares Dow Jones U.S. Real Estate 90.53 3,702.47 3%
TLT iShares Barclays 20+ Year Treasury Bond 80.93 3,179.28 3%
AGG iShares Barclays Aggregate Bond 77.05 14,617.30 1%
VEU Vanguard FTSE All-World ex-US 66.41 6,647.58 1%
XLB Materials Select SPDR 56.37 2,127.78 3%
DEM WisdomTree Emerging Markets Equity Income 51.98 3,246.11 2%
IAU iShares Gold Trust 47.71 10,122.61 0%
FXE CurrencyShares Euro 46.22 330.18 16%
XHB SPDR S&P Homebuilders 41.69 1,198.94 4%
GDX Market Vectors Gold Miners 36.25 9,087.72 0%


Top 10 Redemptions (All ETFs)

Ticker Name Net Flows ($,mm) AUM ($, mm) AUM % Change
SPY SPDR S&P 500 -873.41 95,287.45 -1%
XLF Financial Select SPDR -185.36 6,636.90 -3%
TBT ProShares UltraShort 20+ Year Treasury -98.04 3,177.14 -3%
FAS Direxion Daily Financial Bull 3x -77.80 1,433.36 -5%
XOP SPDR S&P Oil & Gas Exploration & Production -66.99 983.54 -6%
SHY iShares Barclays 1-3 Year Treasury Bond -59.07 10,657.19 -1%
BND Vanguard Total Bond Market -58.35 14,854.75 -0%
XRT SPDR S&P Retail -58.02 536.69 -10%
TNA Direxion Daily Small Cap Bull 3x -55.09 850.82 -6%
IBB iShares NASDAQ Biotechnology -46.71 1,699.15 -3%


ETF Daily Flows By Asset Class

Net Flows ($, mm) AUM ($, mm) % of AUM
U.S. Equity -913.86 528,052.20 -0.17%
International Equity 267.84 294,730.72 0.09%
U.S. Fixed Income 161.18 189,156.71 0.09%
International Fixed Income 5.24 13,607.45 0.04%
Commodities 75.56 118,351.96 0.06%
Currency 22.87 3,893.07 0.59%
Leveraged -218.61 13,729.01 -1.59%
Inverse -98.07 19,936.60 -0.49%
Asset Allocation - 1,066.76 0.00%
Alternatives 34.37 3,437.49 1.00%
Total: -663.47 1,185,961.97 -0.06%


Top 10 Volume Surprises, Funds >$50 mm AUM

Ticker Name Average Volume
(30 Day)		 1-Day Volume % of Average
EIS iShares MSCI Israel Capped Investable Market 29,771 541,049 1817%
IHI iShares Dow Jones U.S. Medical Devices 88,221 833,656 945%
GML SPDR S&P Emerging Latin America 27,341 226,995 830%
RYH Rydex S&P Equal Weight Health Care 59,673 383,406 643%
BBH Market Vectors Biotech 39,202 240,797 614%
IYH iShares Dow Jones U.S. Healthcare 53,056 325,523 614%
UGA United States Gasoline 75,054 439,806 586%
REZ iShares FTSE NAREIT Residential Plus Capped 98,800 569,925 577%
BSJF Guggenheim BulletShares 2015 High Yield Corporate Bond 84,866 459,586 542%
IGV iShares S&P North American Technology-Software 96,833 506,043 523%


Top 10 1-Day Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded

Ticker Name 1-Day Performance 1-Day Volume AUM ($, mm)
GAZ iPath Dow Jones-UBS Natural Gas Total Return ETN 18.64% 2,983,197 47.95
DPU PowerShares DB Commodity Long ETN 6.91% 9,432 6.59
DBEF db-X MSCI EAFE Currency-Hedged Equity 5.79% 4,316 34.19
NIB iPath Dow Jones-UBS Cocoa Total Return ETN 4.31% 18,227 20.75
JJM iPath Dow Jones-UBS Industrial Metals Total Return ETN 4.26% 3,715 38.84
FGEM EGShares Financials GEMS 3.96% 8,928 3.22
DBB PowerShares DB Base Metals 3.92% 238,594 381.06
DBS PowerShares DB Silver 3.76% 16,515 84.08
RJZ ELEMENTS Rogers International Commodity - Metals Total Return ETN 3.71% 19,034 51.16
PALL ETFS Physical Palladium 3.71% 97,236 500.50

Bottom 10 1-Day Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded

Ticker Name 1-Day Performance 1-Day Volume AUM ($, mm)
TSXV Global X S&P TSX Venture 30 Canada -7.68% 3,960 3.02
FAA Guggenheim Airline -6.04% 54,862 16.54
GWO ELEMENTS Credit Suisse Global Warming ETN -4.56% 3,700 2.84
GREK Global X FTSE Greece 20 -4.33% 19,472 1.81
XTN SPDR S&P Transportation -3.33% 5,850 12.23
FBT First Trust NYSE Arca Biotechnology -2.44% 150,880 233.94
XBI SPDR S&P Biotech -2.29% 348,355 507.74
REZ iShares FTSE NAREIT Residential Plus Capped -1.98% 569,925 189.81
IBB iShares NASDAQ Biotechnology -1.93% 1,685,728 1,699.15
ITB iShares Dow Jones U.S. Home Construction -1.76% 1,542,609 517.87

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.