Overall, ETFs pulled out $6.2 billion in capital last week, taking year-to-date inflows to $279.1 billion. U.S. equity ETFs led the way higher with $3.7 billion in outflows, followed by $1.3 billion in U.S. fixed-income ETFs and $629.8 million in inverse ETFs, per etf.com.
iShares Core S&P 500 ETF IVV, iShares 0-3 Month Treasury Bond ETF SGOV, SPDR Bloomberg 1-3 Month T-Bill ETF BIL, Vanguard S&P 500 ETF VOO and iShares Russell 2000 ETF IWM dominated the top creation list last week.
Wall Street extended the decline for the third week due to a rise in yields. After hitting a trough of 3.6% in April, yield on the 10-year Treasury note hit an almost 16-year high to above 4.3%, driven by expectations that the Fed will keep interest rates higher for a longer span to fight inflation. The 2-year Treasury yield rose to above 5%.
A raft of strong economic data kept alive fears of interest rates remaining higher for longer. U.S. retail sales came in better than expected, rising 0.7% in July. Additionally, inflation rose for the first time in July after 12 straight months of decline. The Consumer Price Index rose 3.2% year over year, up from an increase of 3% in June, which was the lowest in over two years. Although inflation has dropped from a peak of 9.1%, it is still significantly above the Federal Reserve’s 2% target.
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 $1.5 billion in capital. It tracks the S&P 500 Index and holds 503 stocks in its basket, each accounting for no more than 7.1% of the 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 $342.6 billion and a Zacks ETF Rank #2 (Buy) with a Medium risk outlook.
iShares 0-3 Month Treasury Bond ETF (SGOV)
iShares 0-3 Month Treasury Bond ETF accumulated around $813.2 million in its asset base last week. It offers exposure to U.S. Treasury bonds with remaining maturities less than or equal to three months. iShares 0-3 Month Treasury Bond ETF follows the ICE 0-3 Month US Treasury Securities Index with an average maturity of 0.10 years and an effective duration of 0.09 years.
iShares 0-3 Month Treasury Bond ETF has AUM of $13.6 billion and trades in an average daily volume of 2.3 million shares. SGOV charges 7 bps in annual fees and has a Zacks ETF Rank #3 (Hold).
SPDR Bloomberg 1-3 Month T-Bill ETF (BIL)
SPDR Bloomberg 1-3 Month T-Bill ETF saw an inflow of $659.5 million last week. It seeks to provide exposure to zero-coupon U.S. Treasury securities with a remaining maturity of 1-3 months. It follows the Bloomberg 1-3 Month U.S. Treasury Bill Index, holding 19 securities in its basket. Both average maturity and adjusted duration are at 0.10 years each.
SPDR Bloomberg 1-3 Month T-Bill ETF has AUM of $29.1 billion and an average daily volume of 5.6 million shares. It charges 13 bps in annual fees and has a Zacks ETF Rank #3 with a Medium risk outlook.
Vanguard S&P 500 ETF (VOO)
Vanguard S&P 500 ETF has gathered $651 million in its asset base. It tracks the S&P 500 Index and holds 506 stocks in its basket, each accounting for no more than 7.5% of the assets. Vanguard S&P 500 ETF is heavy on the information technology sector while consumer discretionary, healthcare and industrials 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 3.6 million shares. It has AUM of $325.4 billion and a Zacks ETF Rank #2 with a Medium risk outlook.
iShares Russell 2000 ETF (IWM)
iShares Russell 2000 ETF has accumulated $533 million in its asset base. It is the largest and most popular ETF in the small-cap space, with AUM of $53.7 billion and an average daily volume of 26 million shares. iShares Russell 2000 ETF holds well-diversified 1,990 stocks in its basket and has key holdings in industrials, financials, healthcare, information technology and consumer discretionary.
iShares Russell 2000 ETF charges 19 bps in annual fees and has a Zacks ETF Rank #3 with a Medium risk outlook.
iShares Russell 2000 ETF (IWM): ETF Research Reports
Vanguard S&P 500 ETF (VOO): ETF Research Reports
iShares Core S&P 500 ETF (IVV): ETF Research Reports
SPDR Bloomberg 1-3 Month T-Bill ETF (BIL): ETF Research Reports
iShares 0-3 Month Treasury Bond ETF (SGOV): ETF Research Reports
To read this article on Zacks.com click here.
This article originally appeared on Zacks
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
