GLD Shines While KRE Stumbles Amid Uncommon Stock Outflows
During the week ending October 17, investors added a net total of $1.1 billion to U.S.-listed exchange-traded funds (ETFs), according to data from FactSet. This period saw an unusual trend in which U.S. equity ETFs faced a notable outflow of $2.5 billion. Additionally, leveraged ETFs experienced losses totaling $631 million.
ETFs Performance Overview
In contrast to equity ETFs, commodities ETFs attracted an impressive $1.8 billion during this timeframe. U.S. fixed income funds brought in $1.6 billion, while international equity ETFs garnered $1.1 billion.
Top Inflows: SPY and GLD Lead
Among individual funds, the SPDR S&P 500 ETF Trust (SPY) showed remarkable performance, leading with net inflows of $1.8 billion. Close behind, the SPDR Gold Shares (GLD) recorded inflows of $1.7 billion, benefiting from rising gold prices that surpassed $4,300 per ounce. This surge pushed gold’s year-to-date gains beyond 60%.
Regional Bank ETFs Struggle
In a contrasting scenario, the SPDR S&P Regional Banking ETF (KRE) faced significant outflows, losing $569 million. This decline occurred amid renewed concerns about the stability of regional banks, triggering a brief sell-off in the sector.
International and Fixed Income ETFs
International equity ETFs remained popular, with the JPMorgan BetaBuilders Europe ETF (BBEU) attracting nearly $700 million in inflows. In the fixed income category, the iShares U.S. Treasury Bond ETF (GOVT) led with $380 million, followed by the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) with inflows of $281 million.
Summary of ETF Flows
The week revealed a mixed landscape for ETFs, with notable inflows in commodities and fixed income, contrasting sharply with the outflows witnessed in U.S. equity and leveraged products. Below is a summary of the top inflows and outflows:
Top 10 Inflows
| Ticker | Name | Net Flows ($ mm) |
|---|---|---|
| SPY | SPDR S&P 500 ETF Trust | 1,816.9 |
| GLD | SPDR Gold Shares | 1,725.7 |
| BBEU | JPMorgan BetaBuilders Europe ETF | 697.9 |
| SPLG | SPDR Portfolio S&P 500 ETF | 637.3 |
| GOVT | iShares U.S. Treasury Bond ETF | 379.9 |
Top 10 Outflows
| Ticker | Name | Net Flows ($ mm) |
|---|---|---|
| QQQ | Invesco QQQ Trust Series I | -1,019.9 |
| FOCT | FT Vest U.S. Equity Buffer ETF – October | -910.2 |
| KRE | SPDR S&P Regional Banking ETF | -569.3 | IWV | iShares Russell 1000 ETF | -453.3 |
| TQQQ | ProShares UltraPro QQQ | -367.3 |
This data reflects the ongoing volatility within the market as investors navigate shifting conditions across different asset classes. For ongoing updates and analysis, continue to follow Emegypt.
