Overall, ETFs pulled in $162.2 million in capital last week, taking year-to-date inflows to $275.9 billion. U.S. equity ETFs led the way higher with $999.9 million in inflows, followed by $405.2 million in international equity ETFs and $126.3 million in leveraged ETFs, per etf.com.
iShares Core S&P 500 ETF IVV, iShares Core S&P Mid-Cap ETF IJH, Vanguard S&P 500 ETF VOO, Vanguard Total Stock Market ETF VTI and iShares Core U.S. Aggregate Bond ETF AGG dominated the top creation list last week.
Wall Street wrapped up the week on a weak note as Fitch’s downgrade of U.S. credit rating made investors jittery. The Nasdaq Composite and S&P 500 Index declined 2.9% and 2.3%, respectively, marking their worst weeks since March, while the Dow Jones declined 1.1%.
Fitch Ratings downgraded the U.S. credit rating to AA+ from AAA, citing “expected fiscal deterioration over the next three years,” an erosion of governance and a growing general debt burden. This has led to strong sell-off in the stocks and a surge in yields. Notably, Treasury yields spiked to the highs of 2023 last week. The 10-year yields topped 4.12%, marking the highest level since November 2022, while 30-year yields reached their highest level in nearly nine months to about 4.2%.
We have detailed the ETFs below:
iShares Core S&P 500 ETF (IVV)
iShares Core S&P 500 ETF topped asset flow creation last week, pulling in $869 million in capital. It tracks the S&P 500 Index and holds 503 stocks in its basket, each accounting for no more than 7.2% of assets. iShares Core S&P 500 ETF is heavy on the information technology sector, while healthcare and financials round off its next two spots with a double-digit allocation each.
iShares Core S&P 500 ETF charges investors 3 bps in annual fees and trades in an average daily volume of 4 million shares. It has AUM of $350.3 billion and a Zacks ETF Rank #2 (Buy) with a Medium risk outlook
iShares Core S&P Mid-Cap ETF (IJH)
iShares Core S&P Mid-Cap ETF topped asset flow creation last week, pulling in $663.2 million in capital. It is the most popular fund in the mid-cap space, with AUM of $75 billion and an average daily volume of 1.5 million shares. It tracks the S&P MidCap 400 Index and holds 406 stocks in its basket. Industrials, consumer discretionary, financials, and information technology are the top four sectors with double-digit exposure each.
iShares Core S&P Mid-Cap ETF charges 5 bps in annual fees and has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
Vanguard S&P 500 ETF (VOO)
Vanguard S&P 500 ETF has gathered $589 million in its asset base. It tracks the S&P 500 Index and holds 505 stocks in its basket, each accounting for no more than 8% of the assets. Vanguard S&P 500 ETF is heavy on the information technology sector while consumer discretionary, healthcare, and financials round off its next three spots with a double-digit allocation each.
Vanguard S&P 500 ETF charges investors 3 bps in annual fees and trades in an average daily volume of 4 million shares. It has AUM of $340 billion and a Zacks ETF Rank #2 with a Medium-risk outlook.
Vanguard Total Stock Market ETF (VTI)
Vanguard Total Stock Market ETF gathered $506 million in capital. It provides exposure to the broader stock market by tracking the CRSP US Total Market Index. Vanguard Total Stock Market ETF holds a large basket of well-diversified 3,859 stocks with key holdings in technology, consumer discretionary, industrials, healthcare and financials.
Vanguard Total Stock Market ETF charges 3 bps in fees per year from investors and trades in an average daily volume of 3 million shares. VTI has amassed $317 billion in its asset base and has a Zacks ETF Rank #2 with a Medium risk outlook.
iShares Core U.S. Aggregate Bond ETF (AGG)
iShares Core U.S. Aggregate Bond ETF saw an inflow of $446 million. It offers broad exposure to U.S. investment-grade bonds by tracking the Bloomberg US Aggregate Bond Index. iShares Core U.S. Aggregate Bond ETF holds 11,090 securities in its basket with an average maturity of 8.60 years and an effective duration of 6.19 years.
iShares Core U.S. Aggregate Bond ETF has AUM of $92.6 billion and an average daily volume of 7 million shares. It charges 3 bps in annual fees.
Vanguard Total Stock Market ETF (VTI): ETF Research Reports
Vanguard S&P 500 ETF (VOO): ETF Research Reports
iShares Core U.S. Aggregate Bond ETF (AGG): ETF Research Reports
iShares Core S&P 500 ETF (IVV): ETF Research Reports
iShares Core S&P Mid-Cap ETF (IJH): ETF Research Reports
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