2023-05-05 09:38:56 ET
Wall Street investors were net buyers of fund assets which included both conventional funds and ETFs for the second consecutive week as they pumped $5.8B into the space.
However, the numbers may be misleading as investors added $21.5B to money market funds, while also retracting $14B from equity funds. At the same time taxable bond funds lost $930M, and tax-exempt fixed income funds gave back $830M.
Equity-based exchange traded funds noticed net outflows for the first week in four, as the space lost $7.8B. Leading the outflow charge was the SPDR S&P 500 ETF ( NYSEARCA: SPY ) as it took back $8B and was followed by the iShares MSCI ACWI ETF ( ACWI ) which lost $1.3B.
In reverse, the Invesco QQQ Trust 1 ( NASDAQ: QQQ ) and the iShares Core S&P 500 ETF ( NYSEARCA: IVV ) pulled in the most significant amount of cash as QQQ attracted $2.9B and IVV pulled in $983M.
From a fixed income ETF vantagepoint, the area gave back $648M on the week. The two exchange traded funds that were able to absorb the most significant amount of capital were the iShares Core US Aggregate Bond ETF ( AGG ) which took in $676M and the SPDR Bloomberg 1-3 Month T-Bill ETF ( BIL ) as it brought in $235M.
On the other side of the coin, the iShares iBoxx $ Investment Grade Corporate Bond ETF ( NYSEARCA: LQD ) suffered the largest outflows at $691M and was followed by the SPDR Portfolio Intermediate Term Corporate Bond ETF ( SPIB ) which lost $614M.
All fund flow data is per the latest Refinitiv Lipper fund-flows weekly report.
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Investors inject $5B into the fund market on the week