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Overall, ETFs pulled in $54.4 billion in capital last week, pushing the year-to-date inflows to $324.7 billion. U.S. equity ETFs led the way higher with $46.1 billion in inflows, followed by inflows of $4 billion in international equity ETFs and $3.5 billion in U.S. fixed-income ETFs.
iShares Core S&P 500 ETF (IVV - Free Report) , Technology Select Sector SPDR Fund (XLK - Free Report) , Vanguard Growth ETF (VUG - Free Report) , Pacer US Cash Cows 100 ETF (COWZ - Free Report) and Invesco S&P 500 Quality ETF (SPHQ - Free Report) dominated the top creation list last week.
Wall Street was on a smooth ride last week, with the Dow Jones outperforming the other two indices with gains of 1.5%. The S&P 500 and Nasdaq Composite Index rose 0.6% and a meager 0.1%, respectively. Both indices logged the third consecutive week of gains.
In a historic milestone, NVIDIA (NVDA) rallied to become the world's most valuable company, surpassing Microsoft (MSFT). The artificial intelligence (AI) chipmaker topped $3.33 trillion in market value on Jun 18 compared with the software giant's $3.31 trillion market cap. This relentless rally pushed XLK for a big rebalance last week. The shake-up has increased the exposure to NVIDIA at the expense of Apple (AAPL). The shift has created a $10 billion trade to buy NVIDIA stock and about an $11 billion trade to sell Apple stock, according to Bloomberg. As such, a record amount of about $8.7 billion flowed into technology ETFs over a week (ending Jun 19), according to data from Bank of America Global Research.
iShares Core S&P 500 ETF topped the asset flow creation last week, gathering $9.7 billion in capital. It tracks the S&P 500 Index and holds 503 stocks in its basket, each accounting for no more than 7.23% of the assets. iShares Core S&P 500 ETF is heavy on the information technology sector, while financials and healthcare round off the next two spots with a double-digit allocation each.
iShares Core S&P 500 ETF charges investors 3 bps in annual fees. It has an AUM of $486.8 billion and a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook.
Technology Select Sector SPDR Fund has accumulated $8.1 billion in capital. It targets the broad technology sector and follows the Technology Select Sector Index. XLK holds about 67 securities in its basket, with key holdings in semiconductors and semiconductor equipment, software, and technology hardware, storage and peripherals.
Technology Select Sector SPDR Fund is the most popular and heavily traded ETF, with an AUM of $486.8 billion and an average daily volume of 5.2 million shares. The fund charges 9 bps in fees per year and has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook (read: Here's What You Need to Know About Tech ETF XLK's Shake-Up).
Vanguard Growth ETF gathered $6.2 billion in its asset base last week. It offers exposure to the growth segment of large-cap equities and follows the CRSP US Large Cap Growth Index. Vanguard Growth ETF holds 199 stocks in its basket, with key holdings in the technology sector at 56.458.2% and consumer discretionary at 18.2%.
Pacer US Cash Cows 100 ETF pulled in $3.2 billion in capital last week. It is a strategy-driven ETF that aims to provide capital appreciation over time by screening the Russell 1000 for the top 100 companies based on free cash flow yield. A high free cash flow yield indicates that a company is producing more cash than it needs to run the business and can invest in growth opportunities.
COWZ holds 101 stocks in its basket and has amassed $23 billion in its asset base. It trades in an average daily volume of 2.2 million shares and charges 49 bps in annual fees.
Invesco S&P 500 Quality ETF saw inflows of $3 billion. It tracks the S&P 500 Quality Index, a benchmark of S&P 500 stocks with the highest-quality score based on three fundamental measures such as return on equity, accruals ratio and financial leverage ratio.
Holding 114 stocks in its basket, Invesco S&P 500 Quality ETF has amassed $10 billion in its asset base and trades at an average daily volume of 826,000 shares. It charges 15 bps in fees per year and has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
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5 Most-Loved ETFs of Last Week
Overall, ETFs pulled in $54.4 billion in capital last week, pushing the year-to-date inflows to $324.7 billion. U.S. equity ETFs led the way higher with $46.1 billion in inflows, followed by inflows of $4 billion in international equity ETFs and $3.5 billion in U.S. fixed-income ETFs.
iShares Core S&P 500 ETF (IVV - Free Report) , Technology Select Sector SPDR Fund (XLK - Free Report) , Vanguard Growth ETF (VUG - Free Report) , Pacer US Cash Cows 100 ETF (COWZ - Free Report) and Invesco S&P 500 Quality ETF (SPHQ - Free Report) dominated the top creation list last week.
Wall Street was on a smooth ride last week, with the Dow Jones outperforming the other two indices with gains of 1.5%. The S&P 500 and Nasdaq Composite Index rose 0.6% and a meager 0.1%, respectively. Both indices logged the third consecutive week of gains.
In a historic milestone, NVIDIA (NVDA) rallied to become the world's most valuable company, surpassing Microsoft (MSFT). The artificial intelligence (AI) chipmaker topped $3.33 trillion in market value on Jun 18 compared with the software giant's $3.31 trillion market cap. This relentless rally pushed XLK for a big rebalance last week. The shake-up has increased the exposure to NVIDIA at the expense of Apple (AAPL). The shift has created a $10 billion trade to buy NVIDIA stock and about an $11 billion trade to sell Apple stock, according to Bloomberg. As such, a record amount of about $8.7 billion flowed into technology ETFs over a week (ending Jun 19), according to data from Bank of America Global Research.
However, NVIDIA’s ascent was short-lived, and profit booking dragged down the company by the end of the week (read: NVIDIA ETFs Seesaw Last Week: What's in Store?).
We have detailed the ETFs below:
iShares Core S&P 500 ETF (IVV - Free Report)
iShares Core S&P 500 ETF topped the asset flow creation last week, gathering $9.7 billion in capital. It tracks the S&P 500 Index and holds 503 stocks in its basket, each accounting for no more than 7.23% of the assets. iShares Core S&P 500 ETF is heavy on the information technology sector, while financials and healthcare round off the next two spots with a double-digit allocation each.
iShares Core S&P 500 ETF charges investors 3 bps in annual fees. It has an AUM of $486.8 billion and a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook.
Technology Select Sector SPDR Fund (XLK - Free Report)
Technology Select Sector SPDR Fund has accumulated $8.1 billion in capital. It targets the broad technology sector and follows the Technology Select Sector Index. XLK holds about 67 securities in its basket, with key holdings in semiconductors and semiconductor equipment, software, and technology hardware, storage and peripherals.
Technology Select Sector SPDR Fund is the most popular and heavily traded ETF, with an AUM of $486.8 billion and an average daily volume of 5.2 million shares. The fund charges 9 bps in fees per year and has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook (read: Here's What You Need to Know About Tech ETF XLK's Shake-Up).
Vanguard Growth ETF (VUG - Free Report)
Vanguard Growth ETF gathered $6.2 billion in its asset base last week. It offers exposure to the growth segment of large-cap equities and follows the CRSP US Large Cap Growth Index. Vanguard Growth ETF holds 199 stocks in its basket, with key holdings in the technology sector at 56.458.2% and consumer discretionary at 18.2%.
Vanguard Growth ETF has AUM of $138.6 billion and an average daily volume of 917,000 shares. It charges 4 bps in fees per year (read: Growth ETFs Outshine in 1H: What's in Store for 2H?).
Pacer US Cash Cows 100 ETF (COWZ - Free Report)
Pacer US Cash Cows 100 ETF pulled in $3.2 billion in capital last week. It is a strategy-driven ETF that aims to provide capital appreciation over time by screening the Russell 1000 for the top 100 companies based on free cash flow yield. A high free cash flow yield indicates that a company is producing more cash than it needs to run the business and can invest in growth opportunities.
COWZ holds 101 stocks in its basket and has amassed $23 billion in its asset base. It trades in an average daily volume of 2.2 million shares and charges 49 bps in annual fees.
Invesco S&P 500 Quality ETF (SPHQ - Free Report)
Invesco S&P 500 Quality ETF saw inflows of $3 billion. It tracks the S&P 500 Quality Index, a benchmark of S&P 500 stocks with the highest-quality score based on three fundamental measures such as return on equity, accruals ratio and financial leverage ratio.
Holding 114 stocks in its basket, Invesco S&P 500 Quality ETF has amassed $10 billion in its asset base and trades at an average daily volume of 826,000 shares. It charges 15 bps in fees per year and has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.