2023-04-21 08:18:14 ET
The investment community found themselves to be overall net retractors of fund assets which included both exchange traded funds and conventional funds for the first week in eight as they redeemed $69.7B for the week ending on Wednesday April 19th.
The bulk of the withdrawals came from money market funds as they took back $67.4B. At the same time, tax exempt fixed income funds lost $2.9B and equity funds observed outflows of $856M. On the flip side, taxable bond funds were able to attract $1.4B.
Equity focused exchange traded funds were able to pull in $4.1B and were led by the largest exchange traded fund listed in the world. The SPDR S&P 500 ETF ( NYSEARCA: SPY ) garnered $2.4B and following behind it was the iShares MSCI USA Quality Factor ETF ( QUAL ) which brought in $825M.
In reverse the two equity based ETFs that noticed the most significant outflows included the Invesco QQQ Trust 1 ( NASDAQ: QQQ ) and the iShares Russell 2000 ETF ( NYSEARCA: IWM ). QQQ lost $2.3B and IWM lost $535M.
Fixed income exchange traded funds all together took in $2.6B. The weekly leaders included the iShares iBoxx $ High Yield Corporate Bond ETF ( NYSEARCA: HYG ) at $1.5B and the SPDR Bloomberg High Yield Bond ETF ( JNK ) at $1.1B.
Simultaneously, the funds that observed the biggest investor outflows were the iShares 7-10 Year Treasury Bond ETF ( IEF ) at $1.9B and the SPDR Portfolio Intermediate Term Treasury ETF ( SPTI ) at $1.5B.
Fund flow data is per the latest Refinitiv Lipper weekly fund-flows report.
In broader market news, stock index futures tilted lower on Friday and rates were lower as well as concerns about a slowing U.S. economy remains.
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Investors were sellers of fund assets for the first week in eight