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Overall, ETFs pulled in $25 billion in capital last week, taking year-to-date inflows to $361.1 billion. U.S. equity ETFs led the way higher with $159.5 billion in inflows, followed by $133.3 billion in U.S. fixed-income ETFs and $56.4 million in international ETFs, per etf.com.
SPDR S&P 500 ETF Trust (SPY - Free Report) , iShares Core S&P 500 ETF (IVV - Free Report) , iShares iBoxx USD High Yield Corporate Bond ETF (HYG - Free Report) , Vanguard S&P 500 ETF (VOO - Free Report) and SPDR Bloomberg Barclays High Yield Bond ETF (JNK - Free Report) dominated the top creation list last week.
Wall Street wrapped up its second consecutive week of gains on continued hopes that the Fed’s aggressive interest rate hiking campaign might be nearing an end. The tech-heavy Nasdaq Composite Index was the outperformer, rising 2.4% last week, while the S&P 500 Index and the Dow Jones gained about 1.3% and 0.7%, respectively.
The latest job report has driven the stock market higher, strengthening the idea that the Fed is done with rate hikes. Job growth slowed down in October, and the unemployment rate ticked higher as auto strikes weighed on the labor market last month. A continued high level of unfilled job openings and solid private sector balance sheets indicate a “soft” economic landing.
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 to ease inflation worries and bolster investor confidence.
Further, better-than-expected earnings added to the strength. With more than more than 88% of the third-quarter results already out, earnings are poised to grow despite the significant energy sector drag, which follows three back-to-back quarters of declines (read: Q3 Earnings Midway: 5 Sector ETFs to Bet on Revenue Growth).
SPDR S&P 500 ETF Trust is the top asset creator, pulling in $4.9 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 29.3% 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 75 million shares. It has AUM of $407.6 billion and a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
iShares Core S&P 500 ETF has gathered $1.8 billion in capital. It tracks the S&P 500 Index and holds 503 stocks in its basket, each accounting for no more than 7.4% of the assets. iShares Core S&P 500 ETF is heavy on the information technology sector, while financials, healthcare, and consumer discretionary round off its next three spots with a double-digit allocation each.
iShares Core S&P 500 ETF charges investors 3 bps in annual fees and trades in an average daily volume of 4.2 million shares. It has AUM of $356 billion and a Zacks ETF Rank #2 (Buy) with a Medium risk outlook each (read: ETFs to Ride on S&P 500's Longest Winning Streak Since 2021).
iShares iBoxx USD High Yield Corporate Bond ETF (HYG - Free Report)
iShares iBoxx $ High Yield Corporate Bond ETF saw an inflow of $1.7 billion last week. It offers exposure to a broad range of U.S. high-yield corporate bonds by tracking the Markit iBoxx USD Liquid High Yield Index. iShares iBoxx $ High Yield Corporate Bond ETF holds 1,189 securities in its basket with an average maturity of 4.75 years and an effective duration of 3.62 years.
iShares iBoxx $ High Yield Corporate Bond ETF is one of the most widely used high-yield bond ETFs, with AUM of $14.9 billion and an average daily volume of 42 million shares. HYG charges 49 bps in annual fees and has a Zacks ETF Rank #3 with a High risk outlook.
Vanguard S&P 500 ETF has accumulated $1.7 billion in capital. It tracks the S&P 500 Index and holds 505 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 4.4 million shares. It has AUM of $336 billion and a Zacks ETF Rank #2 with a Medium-risk outlook.
SPDR Bloomberg Barclays High Yield Bond ETF (JNK - Free Report)
SPDR Bloomberg Barclays High Yield Bond ETF gathered $1.4 billion in capital. It provides diversified exposure to U.S. dollar-denominated high-yield corporate bonds with above-average liquidity by tracking the Bloomberg High Yield Very Liquid Index. It holds 1140 bonds in its basket with an average maturity of 4.94 years and an adjusted duration of 3.52 years (read: Guide to High Dividend Paying ETFs).
SPDR Bloomberg Barclays High Yield Bond ETF has AUM of $7.4 billion in its asset base while trading in average daily volume of 9.5 million shares. It charges 40 bps in annual fees and has a Zacks ETF Rank #3 with a High risk.
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5 ETFs That Gained Investors' Love Last Week
Overall, ETFs pulled in $25 billion in capital last week, taking year-to-date inflows to $361.1 billion. U.S. equity ETFs led the way higher with $159.5 billion in inflows, followed by $133.3 billion in U.S. fixed-income ETFs and $56.4 million in international ETFs, per etf.com.
SPDR S&P 500 ETF Trust (SPY - Free Report) , iShares Core S&P 500 ETF (IVV - Free Report) , iShares iBoxx USD High Yield Corporate Bond ETF (HYG - Free Report) , Vanguard S&P 500 ETF (VOO - Free Report) and SPDR Bloomberg Barclays High Yield Bond ETF (JNK - Free Report) dominated the top creation list last week.
Wall Street wrapped up its second consecutive week of gains on continued hopes that the Fed’s aggressive interest rate hiking campaign might be nearing an end. The tech-heavy Nasdaq Composite Index was the outperformer, rising 2.4% last week, while the S&P 500 Index and the Dow Jones gained about 1.3% and 0.7%, respectively.
The latest job report has driven the stock market higher, strengthening the idea that the Fed is done with rate hikes. Job growth slowed down in October, and the unemployment rate ticked higher as auto strikes weighed on the labor market last month. A continued high level of unfilled job openings and solid private sector balance sheets indicate a “soft” economic landing.
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 to ease inflation worries and bolster investor confidence.
Further, better-than-expected earnings added to the strength. With more than more than 88% of the third-quarter results already out, earnings are poised to grow despite the significant energy sector drag, which follows three back-to-back quarters of declines (read: Q3 Earnings Midway: 5 Sector ETFs to Bet on Revenue Growth).
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 $4.9 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 29.3% 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 75 million shares. It has AUM of $407.6 billion and a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
iShares Core S&P 500 ETF (IVV - Free Report)
iShares Core S&P 500 ETF has gathered $1.8 billion in capital. It tracks the S&P 500 Index and holds 503 stocks in its basket, each accounting for no more than 7.4% of the assets. iShares Core S&P 500 ETF is heavy on the information technology sector, while financials, healthcare, and consumer discretionary round off its next three spots with a double-digit allocation each.
iShares Core S&P 500 ETF charges investors 3 bps in annual fees and trades in an average daily volume of 4.2 million shares. It has AUM of $356 billion and a Zacks ETF Rank #2 (Buy) with a Medium risk outlook each (read: ETFs to Ride on S&P 500's Longest Winning Streak Since 2021).
iShares iBoxx USD High Yield Corporate Bond ETF (HYG - Free Report)
iShares iBoxx $ High Yield Corporate Bond ETF saw an inflow of $1.7 billion last week. It offers exposure to a broad range of U.S. high-yield corporate bonds by tracking the Markit iBoxx USD Liquid High Yield Index. iShares iBoxx $ High Yield Corporate Bond ETF holds 1,189 securities in its basket with an average maturity of 4.75 years and an effective duration of 3.62 years.
iShares iBoxx $ High Yield Corporate Bond ETF is one of the most widely used high-yield bond ETFs, with AUM of $14.9 billion and an average daily volume of 42 million shares. HYG charges 49 bps in annual fees and has a Zacks ETF Rank #3 with a High risk outlook.
Vanguard S&P 500 ETF (VOO - Free Report)
Vanguard S&P 500 ETF has accumulated $1.7 billion in capital. It tracks the S&P 500 Index and holds 505 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 4.4 million shares. It has AUM of $336 billion and a Zacks ETF Rank #2 with a Medium-risk outlook.
SPDR Bloomberg Barclays High Yield Bond ETF (JNK - Free Report)
SPDR Bloomberg Barclays High Yield Bond ETF gathered $1.4 billion in capital. It provides diversified exposure to U.S. dollar-denominated high-yield corporate bonds with above-average liquidity by tracking the Bloomberg High Yield Very Liquid Index. It holds 1140 bonds in its basket with an average maturity of 4.94 years and an adjusted duration of 3.52 years (read: Guide to High Dividend Paying ETFs).
SPDR Bloomberg Barclays High Yield Bond ETF has AUM of $7.4 billion in its asset base while trading in average daily volume of 9.5 million shares. It charges 40 bps in annual fees and has a Zacks ETF Rank #3 with a High risk.