Investors pulled $1.44 billion out of the SPDR S&P 500 ETF (NYSEArca: SPY) on Friday, as stocks fell again on continued concerns surrounding Europe’s sovereign debt crisis, capping the seventh losing week in eight.

On the flip side, investors poured $81.4 million into the iShares Gold Trust (NYSEArca: IAU), making it Friday’s most popular fund, and lifting assets in the physical gold ETF to more than $7 billion.

Overall, net flows were negative to the tune of $2.52 billion, and total U.S.-listed ETF assets fell to just shy of $1.065 trillion from $1.076 trillion on June 23, according to data compiled by IndexUniverse. The Dow Jones industrial average fell 115.42 points, or 1 percent, to 11,934.58, as investors continued to fret about how Greece and Italy were going to manage their sizable debt loads.

After SPY, the Energy Select SPDR ETF (NYSEArca: XLE) was the second-most-unpopular fund on Friday, suffering $450.3 million in outflows. XLE now has under $8.28 billion in assets.

The iShares Russell 2000 Index Fund Index Fund (NYSEArca: IWM) meanwhile suffered almost $200 million in redemptions, with assets in the widely traded fund ending the day at just below $16 billion.

On a percentage basis, the biggest redemption on Friday was the $85.3 million that exited the PowerShares Aerospace & Defense Portfolio (NYSEArca: PPA). Those outflows amounted to 45 percent of PPA’s assets, and appeared to be a reversal of $78 million in creations on Thursday, June 23 that came to 70 percent of the ETF’s assets. It ended Friday a $102.9 million fund.

Creations

After the iShares Gold Trust, the futures-based United States Oil Fund (NYSEArca: USO) was second on the creations list, adding $60.8 million in assets, a 5 percent jump that brought assets to $1.41 billion.

The double-exposure ProShares Ultra DJ-UBS Crude Oil ETF (NYSEArca: UCO) meanwhile recorded a $33.2 million jump in assets that lifted total money in the fund to $358.7 million.

Also, the PowerShares QQQ Trust (NasdaqGM: QQQ) of Nasdaq’s 100 biggest nonfinancial companies added $54.4 million. It ended Friday a nearly $22 billion ETF.

Top 10 Creations (All ETFs)

Top 10 Redemptions (All ETFs)

ETF Daily Flows By Asset Class

Top 10 Volume Surprises, Funds >$50 mm AUM

Top 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.