SPY - Investors inject $31B into ETFs and conventional funds on the week

2023-08-18 09:17:40 ET

Wall Street investors were overall net buyers of fund assets which included both exchange traded funds and conventional funds for the week that ended August 16th. In total, market participants injected $31.3B into the fund space, which marked the fourth week of positive inflows in the past five.

Money market funds were the headliner, as they were able to attract $35.8B, while taxable bond funds lost $2.3B, equity funds handed back $2B, and tax-exempt bond funds watched $264M exit the door.

Equity-focused exchange traded funds were able to attract $2.5B in weekly inflows. This marked the seventh week in eight in which the space saw positive cash injections. At the top of the list were the iShares Core S&P 500 ( NYSEARCA: IVV ) and the SPDR S&P 500 ETF ( NYSEARCA: SPY ). IVV was able to amass $2.1B while SPY brought in $1.5B.

On the flip side, the Invesco QQQ Trust 1 ( NASDAQ: QQQ ) experienced the largest retraction at $1.8B. It was followed by the iShares MSCI Emerging Markets ( EEM ), which lost $734M.

From a fixed income vantage point, the two funds that were able to attract the most significant amount of net new cash were the iShares 0-3 Month Treasury Bond ETF ( SGOV ) at $442M and the SPDR Bloomberg 1-3 Month T-Bill ( BIL ) at $403M.

Moreover, the two fixed income funds that suffered the greatest amount of outflows were the iShares Core US Aggregate Bond ETF ( NYSEARCA: AGG ) and the iShares iBoxx Grade Corporates ETF ( LQD ). AGG lost $773M and LQD handed back $717M.

Fund flow data is per the latest Refinitiv Lipper weekly flow report.

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