Investors added $21.3 billion to US-listed ETFs during the week ending Friday, Sept. 4. Half of that, $10.1 billion, flowed into US fixed income ETFs, with the rest split among international equity, international fixed income, commodity and other funds. US equity ETFs bucked the trend with a rare outflow of $1.3 billion.
The S&P 500 was essentially flat on the week, sitting just off its record highs, while the 10-year Treasury yield climbed 6 basis points to 4.78%, its highest level since late 2023.
At the individual fund level, the Vanguard S&P 500 ETF (VOO) topped the inflows list, but the real standout was the State Street SPDR UC Investments 90/10 Endowment Strategy Index ETF (UCBG), which pulled in $2.5 billion.
The fund launched on Sept. 2 with a $2.5 billion anchor investment from UC Investments, the investment arm of the University of California, making it the largest US-listed ETF launch on record.
UCBG tracks an index built by UC Investments that puts 90% of its weight in the S&P 500 and 10% in short-duration investment-grade corporate bonds, an endowment-style allocation delivered in an ETF wrapper.
Gold ETFs also gathered assets last week, with the SPDR Gold Shares (GLD) taking in $1.4 billion. GLD has had a strong month for both price and flows as the debasement trade has made something of a return in recent weeks.
Other winners last week included the iShares Core MSCI EAFE ETF (IEFA) and the Vanguard Total International Stock ETF (VXUS), with inflows of roughly $800 million and $600 million, while the iShares 0-3 Month Treasury Bond ETF (SGOV) was the biggest fixed income asset gatherer.
On the outflows side, a notable loser was the Roundhill Memory ETF (DRAM), which shed $934 million.
For a full list of last week’s top inflows and outflows, see the tables below.
Top 10 Creations (All ETFs)
Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change< |
VOO | Vanguard S&P 500 ETF | 16,194.64 | 1,073,159.94 | 1.51 |
UCBG | State Street SPDR UC Investments 90/10 Endowment Strategy Index ETF | 2,490.04 | 2,524.53 | 98.63 |
SGOV | iShares 0-3 Month Treasury Bond ETF | 2,026.52 | 107,475.67 | 1.89 |
GLD | SPDR Gold Shares | 1,378.04 | 151,045.33 | 0.91 |
BND | Vanguard Total Bond Market ETF | 921.22 | 163,258.93 | 0.56 |
VTI | Vanguard Total Stock Market ETF | 860.19 | 696,336.37 | 0.12 |
IEFA | iShares Core MSCI EAFE ETF | 798.77 | 196,783.89 | 0.41 |
SCHD | Schwab US Dividend Equity ETF | 637.53 | 113,454.96 | 0.56 |
SPSB | SPDR Portfolio Short Term Corporate Bond ETF | 617.31 | 11,073.10 | 5.57 |
VXUS | Vanguard Total International Stock ETF | 597.91 | 166,521.44 | 0.36 |
Top 10 Redemptions (All ETFs)
Ticker | Name | Net Flows ($, mm) | AUM ($, mm) | AUM % Change |
IVV | iShares Core S&P 500 ETF | -17,066.07 | 873,778.68 | -1.95 |
SPY | SPDR S&P 500 ETF Trust | -3,391.74 | 814,971.17 | -0.42 |
SPYM | SPDR Portfolio S&P 500 ETF | -2,758.15 | 169,744.21 | -1.62 |
LQD | iShares iBoxx $ Investment Grade Corporate Bond ETF | -2,627.01 | 29,794.88 | -8.82 |
QQQ | Invesco QQQ Trust Series I | -2,111.33 | 484,816.04 | -0.44 |
DRAM | Roundhill Memory ETF | -933.79 | 24,577.69 | -3.80 |
HYG | iShares iBoxx $ High Yield Corporate Bond ETF | -905.89 | 15,404.91 | -5.88 |
IWM | iShares Russell 2000 ETF | -809.60 | 80,297.84 | -1.01 |
IGV | iShares Expanded Tech-Software Sector ETF | -544.62 | 14,528.39 | -3.75 |
GDX | VanEck Gold Miners ETF | -544.61 | 30,800.37 | -1.77 |
