Outlier Flows Abound as Issuers Prep for Rebalancing

Market Flow Summary

The U.S. ETF market recorded a total net inflow of $42.37 billion. The top issuer by inflow was iShares, which attracted $13.41 billion. The single fund with the largest inflow was the iShares Core S&P 500 ETF (IVV). On the other side of the ledger, SPDR saw the largest outflows among issuers, shedding -$5.46 billion. The SPDR S&P 500 ETF Trust (SPY) experienced the most significant single-fund outflow. The most notable high-velocity brand was VictoryShares, which saw inflows representing +10.56% of its aggregate assets under management.

Flow Summary by Asset Class

Equity led all asset classes in daily inflows, attracting +$39.52 billion, followed by Non-Traditional with +$1.47 billion. On a year-to-date basis, Equity remains the dominant asset class, having accumulated +$499.61 billion in net new assets.

Top/Bottom Five Category Flows

U.S. large-cap growth and mid-cap blend strategies saw the most significant inflows, while global ex-U.S. large-cap growth and long-term government bond funds experienced the largest redemptions.

ETF Issuer Flow Analysis

iShares led all issuers with a +$13.41 billion inflow, representing +0.36% of its AUM. Conversely, SPDR experienced the largest outflow at -$5.46 billion, a -0.32% change in its AUM. VictoryShares stood out as the top high-velocity brand, with an inflow of +$1.61 billion translating to a significant +10.56% of its total AUM.

Notably, the significant and often volatile flows seen in ARK’s suite of ETFs have continued in recent weeks. These recurring large-scale movements suggest that some institutional investors may be using these products as a tactical vehicle to gain or shed exposure to a specific basket of disruptive technology stocks.

Top 5 Brands by Inflows

Bottom 5 Brands by Outflows

High-Velocity Brands (Aggregate AUM > $500M, 1D Flow > +/- 5% of AUM)

Significant Single-Fund Movements

The iShares Core S&P 500 ETF (IVV) attracted the day’s largest inflow, gathering +$12.12 billion. The SPDR S&P 500 ETF Trust (SPY) saw the largest redemption, with an outflow of -$11.44 billion.

Largest Absolute Daily Flows (Net Flows > $250M)

High-Velocity Inflows (AUM > $100M, 1D Flow > +5% of AUM)

High-Velocity Outflows (AUM > $100M, 1D Flow > -5% of AUM)

Custom Analysis and Daily Data

The data summaries presented in this report were generated using the powerful dashboarding capabilities of the ETF Action Navigator tool. This institutional-grade platform provides users with the ability to conduct deep, customized analysis by filtering, sorting, and grouping the entire ETF universe across hundreds of distinct data points. From high-level asset class trends to granular single-fund metrics, Navigator allows for the creation of bespoke dashboards tailored to any workflow, ensuring you can track the flows and metrics that matter most to your strategy.

Large Flow Activity: Significant single-day inflows or outflows may not always represent typical market sentiment. Such anomalies can be linked to strategic actions, including tax-efficient rebalancing through custom create/redeem processes. Monitoring these flows over a multi-day period is recommended for a comprehensive analysis.

Disclosures

This material is for informational purposes only and should not be considered investment advice. All investments, including ETFs, involve risk, including the possible loss of principal. Investors should consider their investment objectives, risks, charges, and expenses carefully before investing.

This analysis was developed by the team at ETF Action. We leverage advanced AI tools to assist in the drafting and refinement of our content, based on our expert prompts, direction, and final review.