SPY - Investors poured nearly $50B into money market funds last week

2023-05-01 08:56:30 ET

The financial community found themselves to be overall buyers of fund assets which included both conventional funds and exchange traded funds for the week that ended on April 26th. On the week investors added $46.1B to the fund market thanks in large part to money market funds.

Money market funds were able to balloon by $49.8B and were the only group that noticed weekly capital inflows. On the other end of the spectrum equity funds retracted $2B on the week, while taxable bond funds lost $1.6B, and tax-exempt bond funds redeemed $92M.

Regarding equity based ETFs, the space notched $6.1B in inflows and were led by the SPDR S&P 500 ETF ( NYSEARCA: SPY ) which brought in $4.9B and the iShares: Russell 2000 ETF ( NYSEARCA: IWM ) as it attracted $935M.

At the same time, the equity ETFs that suffered the most significant outflows were the Invesco QQQ Trust 1 ( NASDAQ: QQQ ) and Select Sector: Energy SPDR ( XLE ). QQQ watched $1B exit the door on the week and XLE lost $739M.

From the fixed income ETF lens, the area experienced weekly outflows of $238M. The funds that notched the largest outflows were the iShares: iBoxx $ Investment Grade Corporates ( LQD ) at $1.3B and the iShares: TIPS Bond ETF ( TIP ) at $508M.

Switching gears, and Wall Street will have observed that the iShares: 20+ Treasury Bond ETF ( NASDAQ: TLT ) and shares of the SPDR Bloomberg High Yield Bond ETF ( JNK ) led all fixed income ETF inflows at $740M and $551M.

ETF inflow data is per the latest Refinitiv Lipper fund flow report.

Major market averages remain muted on Monday as investors enter the sell-in-May-and-go-away period.

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