SCHI - Money market funds attract $27B after pulling in $61B & $115B in the previous weeks

2023-04-10 11:19:07 ET

Wall Street investors were net buyers of fund assets which included both exchange traded funds and conventional funds for the sixth consecutive trading week in a row. In total, investors added $24.5B to the fund space with the majority of the flows going towards money market funds.

Money market funds experienced an injection of $27.8B and taxable bond funds noticed inflows of $5.3B. Meanwhile, equity based funds retracted $8.5B and taxable bond funds watched $92M exit the door.

Equity focused exchange traded funds observed their third week of capital outflows in four as the space lost $2.6B. Among the complete ETF equity market, the two funds that experienced the largest outflows were the S&P 500 tracking SPDR S&P 500 ETF ( NYSEARCA: SPY ) and iShares: Core S&P 500 ( IVV ) which lost $3.6B and $1.9B.

In reverse the two funds that garnered the most capital were the Invesco QQQ Trust 1 ( NASDAQ: QQQ ) as it brought in $1.9B and the Select Sector: Energy SPDR ( NYSEARCA: XLE ) which attracted $819M.

From a fixed income ETF vantagepoint the segment noticed $6.1B in inflows. The Schwab Strategy: 5-10 Corporate Bond ETF ( SCHI ) found itself amongst the leaders as it pulled in $2.7B which was followed by the iShares: iBoxx Yield Corporate Bond ETF ( NYSEARCA: HYG ) at $1.8B.

At the other end of the spectrum the Schwab Strategy: US TIPS ETF ( SCHP ) and SPDR Bloomberg Emerging Markets Local Bond ( EBND ) noticed the largest capital retractions at $1.5B and $542M.

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

In other exchange traded fund news, ProShares announced that it intends to launch a new 2X leveraged Bitcoin Strategy ETF according to a SEC filing.

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