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Overall, ETFs pulled in $33.2 billion in capital last week, taking the year-to-date inflows to $361.2 billion. U.S. equity ETFs led the way higher with $25 billion in inflows, followed by $4.8 billion in U.S. fixed-income ETFs and $3 billion in international ETFs, per etf.com.
Wall Street logged the third consecutive week of gains, with November becoming the strongest month of the year. The continued hopes that the Fed’s aggressive interest rate hiking campaign might be nearing an end has been a significant contributor to the stock market rally. All three major indices rallied about 2% each last week, with the Dow Jones and the S&P 500 Index recording the longest weekly winning streaks since July.
Inflation in the United States broadly slowed in October, indicating that the Fed is done hiking interest rates and could potentially start cutting them next year. According to the CME FedWatch Tool, market participants expect a 95.6% probability that the central bank will keep interest rates at current levels through its January meeting. There is a more than 50% probability of a rate cut of at least 25 bps by May. (read: 5 ETFs Set to Gain as Inflation Cools Down).
Additionally, the fall in oil prices has lent support to the stock market upturn. Concerns about demand, especially from China and the United States, have led to a decrease in oil prices, which, in turn, could help ease inflation worries and bolster investor confidence.
SPDR S&P 500 ETF Trust is the top asset creator, pulling in $5.7 billion in capital. It tracks the S&P 500 Index and holds 503 stocks in its basket, with each accounting for no more than 7.4% of the assets. SPDR S&P 500 ETF Trust is heavy on the information technology sector with a 29.4% share, while financials, healthcare and consumer discretionary round off the next three spots with a double-digit allocation each.
SPDR S&P 500 ETF Trust charges investors 9 bps in annual fees and trades in an average daily volume of 78 million shares. It has an AUM of $428.7 billion and a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
Invesco QQQ Trust gathered $5.3 billion in capital last week. It provides exposure to the 101 largest domestic and international non-financial companies listed on the Nasdaq by tracking the Nasdaq 100 Index. Invesco QQQ is heavily concentrated on the top two firms with a double-digit allocation, while other firms hold no more than 5.6% of the assets (read: Wall Street Wins for 3 Straight Weeks: 5 ETFs Near 52-Week High).
Invesco QQQ is one of the largest and most popular ETFs in the large-cap space, with an AUM of $219.7 billion and an average daily volume of 49 million shares. QQQ charges investors 20 bps in annual fees and has a Zacks ETF Rank #2 with a Medium risk outlook.
iShares Russell 2000 ETF has accumulated $1.7 billion in its asset base. It is the largest and most popular ETF in the small-cap space, with an AUM of $53.3 billion and an average daily volume of 33.4 million shares. iShares Russell 2000 ETF holds well-diversified 1,976 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 #2 with a Medium risk outlook.
Vanguard S&P 500 ETF has accumulated $1.6 billion in capital. It tracks the S&P 500 Index and holds 507 stocks in its basket, each accounting for no more than 7% 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.
Vanguard S&P 500 ETF charges investors 3 bps in annual fees and trades in an average daily volume of 4.5 million shares. It has AUM of $347.2 billion and a Zacks ETF Rank #2 with a Medium risk outlook.
SPDR Gold Trust ETF gathered $970 million in capital. It tracks the price of gold bullion measured in U.S. dollars and kept in London under the custody of HSBC Bank USA. It is an ultra-popular gold ETF with an AUM of $54.8 billion and a heavy volume of about 8 million shares a day (read: Gold ETFs Rebound: Can the Momentum Continue?).
SPDR Gold Trust ETF charges 40 bps in fees per year from investors and has a Zacks ETF Rank #3.
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5 ETFs That Gained Most Investors' Love Last Week
Overall, ETFs pulled in $33.2 billion in capital last week, taking the year-to-date inflows to $361.2 billion. U.S. equity ETFs led the way higher with $25 billion in inflows, followed by $4.8 billion in U.S. fixed-income ETFs and $3 billion in international ETFs, per etf.com.
SPDR S&P 500 ETF Trust (SPY - Free Report) , Invesco QQQ Trust (QQQ - Free Report) , iShares Russell 2000 ETF (IWM - Free Report) , Vanguard S&P 500 ETF (VOO - Free Report) and SPDR Gold Trust ETF (GLD - Free Report) dominated the top creation list last week.
Wall Street logged the third consecutive week of gains, with November becoming the strongest month of the year. The continued hopes that the Fed’s aggressive interest rate hiking campaign might be nearing an end has been a significant contributor to the stock market rally. All three major indices rallied about 2% each last week, with the Dow Jones and the S&P 500 Index recording the longest weekly winning streaks since July.
Inflation in the United States broadly slowed in October, indicating that the Fed is done hiking interest rates and could potentially start cutting them next year. According to the CME FedWatch Tool, market participants expect a 95.6% probability that the central bank will keep interest rates at current levels through its January meeting. There is a more than 50% probability of a rate cut of at least 25 bps by May. (read: 5 ETFs Set to Gain as Inflation Cools Down).
Additionally, the fall in oil prices has lent support to the stock market upturn. Concerns about demand, especially from China and the United States, have led to a decrease in oil prices, which, in turn, could help ease inflation worries and bolster investor confidence.
We have detailed the ETFs below:
SPDR S&P 500 ETF Trust (SPY - Free Report)
SPDR S&P 500 ETF Trust is the top asset creator, pulling in $5.7 billion in capital. It tracks the S&P 500 Index and holds 503 stocks in its basket, with each accounting for no more than 7.4% of the assets. SPDR S&P 500 ETF Trust is heavy on the information technology sector with a 29.4% share, while financials, healthcare and consumer discretionary round off the next three spots with a double-digit allocation each.
SPDR S&P 500 ETF Trust charges investors 9 bps in annual fees and trades in an average daily volume of 78 million shares. It has an AUM of $428.7 billion and a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
Invesco QQQ Trust (QQQ - Free Report)
Invesco QQQ Trust gathered $5.3 billion in capital last week. It provides exposure to the 101 largest domestic and international non-financial companies listed on the Nasdaq by tracking the Nasdaq 100 Index. Invesco QQQ is heavily concentrated on the top two firms with a double-digit allocation, while other firms hold no more than 5.6% of the assets (read: Wall Street Wins for 3 Straight Weeks: 5 ETFs Near 52-Week High).
Invesco QQQ is one of the largest and most popular ETFs in the large-cap space, with an AUM of $219.7 billion and an average daily volume of 49 million shares. QQQ charges investors 20 bps in annual fees and has a Zacks ETF Rank #2 with a Medium risk outlook.
iShares Russell 2000 ETF (IWM - Free Report)
iShares Russell 2000 ETF has accumulated $1.7 billion in its asset base. It is the largest and most popular ETF in the small-cap space, with an AUM of $53.3 billion and an average daily volume of 33.4 million shares. iShares Russell 2000 ETF holds well-diversified 1,976 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 #2 with a Medium risk outlook.
Vanguard S&P 500 ETF (VOO - Free Report)
Vanguard S&P 500 ETF has accumulated $1.6 billion in capital. It tracks the S&P 500 Index and holds 507 stocks in its basket, each accounting for no more than 7% 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.
Vanguard S&P 500 ETF charges investors 3 bps in annual fees and trades in an average daily volume of 4.5 million shares. It has AUM of $347.2 billion and a Zacks ETF Rank #2 with a Medium risk outlook.
SPDR Gold Trust ETF (GLD - Free Report)
SPDR Gold Trust ETF gathered $970 million in capital. It tracks the price of gold bullion measured in U.S. dollars and kept in London under the custody of HSBC Bank USA. It is an ultra-popular gold ETF with an AUM of $54.8 billion and a heavy volume of about 8 million shares a day (read: Gold ETFs Rebound: Can the Momentum Continue?).
SPDR Gold Trust ETF charges 40 bps in fees per year from investors and has a Zacks ETF Rank #3.