SPY - Investors are net sellers of fund assets for the second consecutive week handing back $2B
2023-06-30 08:24:27 ET
The investment community found themselves to be overall net sellers of fund assets for the second consecutive week as market participants retracted $2.2B from the fund space which included both exchange traded funds and conventional funds for the week ending on Wednesday June 28 th .
Investors were net buyers of equity funds as the area attracted $2.8B, while also being redeemers of taxable bond funds, money market funds, and tax-exempt income funds as the three areas lost $2.8B, $2.5B, and $30M respectively.
Equity ETFs noticed inflows for the second week in three as the segment was able to garner just under $7B in capital flows. Leading the way was the SPDR S&P 500 ETF ( NYSEARCA: SPY ) as it attracted $5B and was followed by the Invesco QQQ Trust 1 ( NASDAQ: QQQ ) as it was able to pull in $1.9B.
In reverse, the two funds that handed back the most significant amount of investor flows were the JPMorgan BetaBuilders Europe ETF ( BBEU ) at $1.7B and the Energy Select Sector SPDR Fund ( NYSEARCA: XLE ) which noticed outflows of $411M.
From a fixed income ETF vantagepoint the two ETFs that brought in the most inflows were the iShares Core US Aggregate Bond ETF ( NYSEARCA: AGG ) at $531M and the PIMCO Enhanced Short Maturity Active ETF ( MINT ) at +$433M.
On the other side, the two fixed income ETFs that suffered the most significant capital losses on the week were the iShares 1-3 Year Treasury Bond ETF ( SHY ) -$1.2B and the iShares iBoxx $ High Yield Corporate Bond ETF ( HYG ) at -$582M.
Fund flow data is per the latest Refinitiv Lipper fund flow report.
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Investors are net sellers of fund assets for the second consecutive week, handing back $2B