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ETFs across various categories pulled in $35.8 billion in capital last week, pushing the year-to-date inflows to $406.3 billion. U.S. equity ETFs led the way higher with $21.7 billion in inflows, followed by inflows of $9.3 billion in U.S. fixed-income ETFs and $2 billion in international equity ETFs.
Wall Street was on a smooth ride last week, with the Dow Jones Industrial Average reclaiming the 40,000 milestone for the first time since May. The blue-chip index was up 1.6% compared with 0.9% and 0.2% increase in the S&P 500 and Nasdaq Composite Index, respectively (read: Dow Reclaims 40,000 Mark, Surpasses Major Indices: ETFs to Tap).
The latest encouraging inflation data showing the first monthly drop since 2020 and the slowest annual price gain since March 2021 has deepened the market’s confidence that the Fed would begin cutting interest rates in September. According to data from the CME Group, markets are now pricing in a roughly 89% chance that the Fed will begin to cut rates at its September meeting, up from 75% a day prior.
This has led to a huge sell-off in the hot technology sector and a move toward the laggards that could benefit from falling rates, like industrials and small caps. Meanwhile, the fixed-income space also gained momentum on a decline in yields. The 10-year yield dropped to 4.18%, its lowest level since March and the 2-year yield fell to 4.45%, the lowest since February.
SPDR S&P 500 ETF Trust topped the asset flow creation last week, gathering $4.7 billion in capital. It tracks the S&P 500 Index and holds 503 stocks in its basket, with each accounting for no more than 7.1% of the assets. SPDR S&P 500 ETF Trust is heavy on the information technology sector with a 32.9% 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 39 million shares. It has an AUM of $556.7 billion and a Zacks ETF Rank #2 (Buy) with a Medium risk outlook (read: Market Jitters? These ETFs Can Provide Peace of Mind).
iShares Russell 2000 ETF has accumulated $2.3 billion in its asset base. It is the largest and most popular ETF in the small-cap space, with an AUM of $60 billion and an average daily volume of 22 million shares. iShares Russell 2000 ETF holds well-diversified 1,993 stocks in its basket and has key holdings in healthcare, financials, industrials and information technology.
iShares Russell 2000 ETF charges 19 bps in annual fees and has a Zacks ETF Rank #2 with a Medium risk outlook.
Invesco QQQ Trust pulled in $1.9 billion in capital. 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 has a modest concentration on the top firms.
Invesco QQQ is one of the largest and most popular ETFs in the large-cap space, with an AUM of $305 billion and an average daily volume of 27 million shares. QQQ charges investors 20 bps in annual fees and has a Zacks ETF Rank #2 with a Medium risk outlook.
iShares 20+ Year Treasury Bond ETF accumulated $1.8 billion in its asset base. It provides exposure to long-term Treasury bonds by tracking the ICE U.S. Treasury 20+ Years Bond Index. iShares 20+ Year Treasury Bond ETF holds 44 securities in its basket and charges 15 bps in annual fees. It has an average maturity of 25.63 years and an effective duration of 16.57 years.
TLT is one of the most popular and liquid ETFs in the bond space, with an AUM of $55.3 billion and an average daily volume of 31 million shares. iShares 20+ Year Treasury Bond ETF has a Zacks ETF Rank #4 (Sell) with a High risk outlook.
Vanguard S&P 500 ETF has accumulated $1.8 billion in its asset base. It tracks the S&P 500 Index and holds 504 stocks in its basket, each accounting for no more than 7.3% of the assets. Vanguard 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 (read: S&P 500 Tops 5,600: ETFs in Focus).
Vanguard S&P 500 ETF charges investors 3 bps in annual fees and trades in an average daily volume of 3.5 million shares. It has AUM of $490.4 billion and a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook.
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5 Most-Loved ETFs of Last Week
ETFs across various categories pulled in $35.8 billion in capital last week, pushing the year-to-date inflows to $406.3 billion. U.S. equity ETFs led the way higher with $21.7 billion in inflows, followed by inflows of $9.3 billion in U.S. fixed-income ETFs and $2 billion in international equity ETFs.
SPDR S&P 500 ETF Trust (SPY - Free Report) , iShares Russell 2000 ETF (IWM - Free Report) , Invesco QQQ Trust (QQQ - Free Report) , iShares 20+ Year Treasury Bond ETF (TLT - Free Report) and Vanguard S&P 500 ETF (VOO - Free Report) dominated the top creation list last week.
Wall Street was on a smooth ride last week, with the Dow Jones Industrial Average reclaiming the 40,000 milestone for the first time since May. The blue-chip index was up 1.6% compared with 0.9% and 0.2% increase in the S&P 500 and Nasdaq Composite Index, respectively (read: Dow Reclaims 40,000 Mark, Surpasses Major Indices: ETFs to Tap).
The latest encouraging inflation data showing the first monthly drop since 2020 and the slowest annual price gain since March 2021 has deepened the market’s confidence that the Fed would begin cutting interest rates in September. According to data from the CME Group, markets are now pricing in a roughly 89% chance that the Fed will begin to cut rates at its September meeting, up from 75% a day prior.
This has led to a huge sell-off in the hot technology sector and a move toward the laggards that could benefit from falling rates, like industrials and small caps. Meanwhile, the fixed-income space also gained momentum on a decline in yields. The 10-year yield dropped to 4.18%, its lowest level since March and the 2-year yield fell to 4.45%, the lowest since February.
We have detailed the ETFs below:
SPDR S&P 500 ETF Trust (SPY - Free Report)
SPDR S&P 500 ETF Trust topped the asset flow creation last week, gathering $4.7 billion in capital. It tracks the S&P 500 Index and holds 503 stocks in its basket, with each accounting for no more than 7.1% of the assets. SPDR S&P 500 ETF Trust is heavy on the information technology sector with a 32.9% 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 39 million shares. It has an AUM of $556.7 billion and a Zacks ETF Rank #2 (Buy) with a Medium risk outlook (read: Market Jitters? These ETFs Can Provide Peace of Mind).
iShares Russell 2000 ETF (IWM - Free Report)
iShares Russell 2000 ETF has accumulated $2.3 billion in its asset base. It is the largest and most popular ETF in the small-cap space, with an AUM of $60 billion and an average daily volume of 22 million shares. iShares Russell 2000 ETF holds well-diversified 1,993 stocks in its basket and has key holdings in healthcare, financials, industrials and information technology.
iShares Russell 2000 ETF charges 19 bps in annual fees and has a Zacks ETF Rank #2 with a Medium risk outlook.
Invesco QQQ Trust (QQQ - Free Report)
Invesco QQQ Trust pulled in $1.9 billion in capital. 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 has a modest concentration on the top firms.
Invesco QQQ is one of the largest and most popular ETFs in the large-cap space, with an AUM of $305 billion and an average daily volume of 27 million shares. QQQ charges investors 20 bps in annual fees and has a Zacks ETF Rank #2 with a Medium risk outlook.
iShares 20+ Year Treasury Bond ETF (TLT - Free Report)
iShares 20+ Year Treasury Bond ETF accumulated $1.8 billion in its asset base. It provides exposure to long-term Treasury bonds by tracking the ICE U.S. Treasury 20+ Years Bond Index. iShares 20+ Year Treasury Bond ETF holds 44 securities in its basket and charges 15 bps in annual fees. It has an average maturity of 25.63 years and an effective duration of 16.57 years.
TLT is one of the most popular and liquid ETFs in the bond space, with an AUM of $55.3 billion and an average daily volume of 31 million shares. iShares 20+ Year Treasury Bond ETF has a Zacks ETF Rank #4 (Sell) with a High risk outlook.
Vanguard S&P 500 ETF (VOO - Free Report)
Vanguard S&P 500 ETF has accumulated $1.8 billion in its asset base. It tracks the S&P 500 Index and holds 504 stocks in its basket, each accounting for no more than 7.3% of the assets. Vanguard 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 (read: S&P 500 Tops 5,600: ETFs in Focus).
Vanguard S&P 500 ETF charges investors 3 bps in annual fees and trades in an average daily volume of 3.5 million shares. It has AUM of $490.4 billion and a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook.