XLF - Investors injected cash into the fund market for the third week in four
2023-08-11 08:44:42 ET
For the third week in four, Wall Street investors were net buyers of fund assets which included both conventional funds and exchange traded funds for the week that ended August 9. In total, the investment community injected $10.8B worth of net new capital into the fund market, which was led by money market funds.
Money market funds were able to attract $18.4B, taxable bond funds amassed $785M, and tax-exempt fixed income funds garnered $278M. At the same time, equity funds retracted $8.6B over the course of the week.
Equity-focused exchange traded funds notched net weekly outflows for the first week in seven as they handed back $3.1B. Leading the outflow charge was Wall Street's largest exchange traded fund. The SPDR S&P 500 ETF ( NYSEARCA: SPY ) watched $4.7B exit the door. Behind SPY was the Financial Select Sector SPDR Fund ( NYSEARCA: XLF ) which handed back $533M on the week.
From an inflow perspective, the two equity ETFs that brought in the most cash were the Health Care Select Sector SPDR Fund ( XLV ) and the Invesco Buyback Achievers ETF ( PKW ) as the two funds pulled in $634M and $495M, respectively.
On the other hand, the two fixed income exchange traded funds that were able to attract the most significant amount of capital were the iShares 0-3 Month Treasury Bond ETF ( SGOV ) at $542M, and the SPDR Bloomberg 1-3 Month T-Bill ETF ( BIL ) at $371M.
At the same time the two fixed income funds that suffer the most significant amount of capital losses were the iShares iBoxx $ High Yield Corporate Bond ETF ( NYSEARCA: HYG ) at -$838M and the iShares 20+ Year Treasury Bond ETF ( NASDAQ: TLT ) at -$787M.
Fund flow data is per the latest Refinitiv Lipper fund flow report.
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Investors injected cash into the fund market for the third week in four