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Investors plowed forward in June, adding more than $8 billion in new money to equities, fixed-income and other ETFs, even as Greece-related turmoil roiled financial markets and pulled total assets in U.S.-listed exchange-traded funds down 1.4 percent to $1.099 trillion.
To be sure, ETFs were hit by outflows in June from commodities and fixed-income funds, notably high-yield debt. But ETF flows remained strong, and totaled almost $30 billion in the second quarter and more than $58 billion in the entire first half of 2011, according to data compiled by IndexUniverse.
The SPDR S&P 500 ETF (NYSEArca: SPY), the world’s-biggest exchange-traded fund, hauled in $4.74 billion, reversing the nearly $5 billion it bled in May, when U.S.-listed ETFs had net outflows for the first time since last August. Some industry sources have speculated that the SPY creations reflected attempts by authorized participants to meet growing demand to short the highly liquid ETF as markets swooned.
Short of shorting, a number of prominent fixed-income funds benefited from the flight-to-safety impulse coursing through markets amid signs that Greece might be on course to default on its debt obligations.
For example, the iShares Barclays Aggregate Bond Fund (NYSEArca: AGG) gathered $590 million in new assets and the iShares Barclays TIPS Fund (NYSEArca: TIP) added almost $475 million. Also, the iShares Barclays 1-3 Year Treasury Bond Fund (NYSEArca: SHY) added $447 million in new assets last month.
Also, some commodities funds bucked the overall trend, raking in assets instead of bleeding them. The Market Vectors Agribusiness ETF (NYSEArca: MOO), for instance, gathered more than $474 million, a month after it was the single most popular U.S. ETF.
| SPY |
SPDR S&P 500 |
SSgA |
4,741.63 |
92,092.58 |
607,948.00 |
| VWO |
Vanguard MSCI Emerging Markets |
Vanguard |
1,998.53 |
49,990.72 |
18,322.42 |
| IWR |
iShares Russell Midcap |
BlackRock |
633.48 |
7,069.79 |
860.48 |
| AGG |
iShares Barclays Aggregate Bond |
BlackRock |
590.08 |
11,850.28 |
2,782.06 |
| TIP |
iShares Barclays TIPS Bond |
BlackRock |
474.77 |
20,940.52 |
2,029.99 |
| MOO |
Market Vectors Agribusiness |
Van Eck |
474.39 |
5,538.75 |
2,410.85 |
| XLV |
Health Care Select SPDR |
SSgA |
453.58 |
4,235.54 |
8,155.47 |
| SHY |
iShares Barclays 1-3 Year Treasury Bond |
BlackRock |
447.24 |
8,380.38 |
2,862.14 |
| VEA |
Vanguard MSCI EAFE |
Vanguard |
411.73 |
7,196.07 |
1,835.52 |
| XLU |
Utilities Select SPDR |
SSgA |
376.76 |
4,699.35 |
4,701.23 |
| U.S. Equity |
1,433.45 |
492,761.37 |
0.29% |
| International Equity |
2,259.39 |
294,812.21 |
0.77% |
| U.S. Fixed Income |
2,587.18 |
147,906.12 |
1.75% |
| International Fixed Income |
867.13 |
10,955.06 |
7.92% |
| Commodities |
-759.11 |
105,582.65 |
-0.72% |
| Currency |
442.77 |
5,826.92 |
7.60% |
| Leveraged |
482.57 |
13,771.17 |
3.50% |
| Inverse |
1,078.77 |
23,188.35 |
4.65% |
| Asset Allocation |
60.99 |
918.01 |
6.64% |
| Alternatives |
-297.88 |
3,376.08 |
-8.82% |
| Total: |
8,155.27 |
1,099,097.95 |
0.74% |
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