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Weekly ETF Roundup: Silver Rocks, U.S. Equity Lags
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Overall ETFs gathered about $15.6 billion capital last week, bringing in year-to-date inflows of $81.1 billion, higher than the $73.1 billion seen in the year-ago period. International equity ETFs led the way higher last week with $5.6 billion inflows, closely followed by $5.3 billion in U.S. fixed income ETFs and $213 million in U.S. equity ETFs, per etf.com.
Silver ETF: A Hot Spot
The ultra-popular iShares Silver Trust (SLV - Free Report) , which offers exposure to the day-to-day movement of the price of silver bullion, was the hottest ETF last week, pulling in about $2.6 billion in assets last week. The product has a Zacks ETF Rank #3 (Hold).
Reddit-fueled frenzy pushed silver price higher to above $30 per ounce for the first time since 2013. The social media, including thousands of Reddit posts and hundreds of YouTube videos, made calls to buy the metal and emulate the frenzy that drove up shares in the U.S. video games retailer GameStop (GME) by 1500% in just two weeks (read: Silver Spikes to 8-Year High of $30: ETFs to Ride the Rally).
International Equity ETFs Shine
International stocks rallied in tandem with the U.S. stocks on hopes of speedy recovery buoyed by stimulus talks, signs of a healing labor market, continued optimism surrounding new vaccines, widening reach of vaccination, and easing restrictions. JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX - Free Report) and JPMorgan BetaBuilders Europe ETF (BBEU - Free Report) saw inflows of $764 million and $562 million, respectively.
BBAX is designed to provide exposure to developed Asian equity markets ex-Japan using an indexed approach while BBEU targets the European equity market. Both the funds have a Zacks ETF Rank #3.
Fixed Income ETFs Attract
Investors drove in flocks into fixed income ETFs despite an uptick in Treasury yields, which generally diminished the demand for these assets. The 30-year yields reached 1.99% on Feb 5, the highest level in about a year. iShares iBoxx USD High Yield Corporate Bond ETF (HYG - Free Report) gathered $2.5 billion and Vanguard Total Bond Market ETF (BND - Free Report) accumulated $611 million in assets (read: Here's Why You Should Buy Bank ETFs Now).
HYG offers exposure to a broad range of U.S. high-yield corporate bonds while BND offers broad exposure to targets the taxable investment-grade U.S. dollar-denominated bond market, excluding inflation-protected and tax-exempt bonds. HYG has a Zacks ETF Rank #4 (Sell).
U.S. Equity ETFs Fade
Though the three major U.S. bourses registered the best week since November, the demand for the equity ETFs faded. SPDR S&P 500 (SPY - Free Report) led the redemption list with outflow of $4 billion last week. The iShares Russell 2000 ETF (IWM - Free Report) and iShares Core S&P 500 ETF (IVV - Free Report) also pulled out more than billion dollars in capital. On the other hand, Vanguard S&P 500 ETF (VOO - Free Report) was the most-loved ETF gathering $8.5 billion in its asset base last week (read: Ride Market Rally With High-Beta ETFs & Stocks).
SPY, IVV and VOO track the S&P 500 while IWM targets the small-cap segment by tracking the Russell 2000 Index. All the funds have a Zacks ETF Rank #3.
This ETF continued to attract investors since late last year with inflows of $814 million last week. It is an actively managed fund seeking long-term capital appreciation by investing in companies that benefit from the development of new products or services, technological improvements and advancements in scientific research related to the areas of DNA technologies (Genomic Revolution), industrial innovation in energy, automation and manufacturing (Industrial Innovation), the increased use of shared technology, infrastructure and services (Next Generation Internet), and technologies that make financial services more efficient (Fintech Innovation).
ARK defines ‘‘disruptive innovation’’ as the introduction of a technologically enabled new product or service that potentially changes the way the world works (read: A Deep Dive into ARK ETFs).
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Weekly ETF Roundup: Silver Rocks, U.S. Equity Lags
Overall ETFs gathered about $15.6 billion capital last week, bringing in year-to-date inflows of $81.1 billion, higher than the $73.1 billion seen in the year-ago period. International equity ETFs led the way higher last week with $5.6 billion inflows, closely followed by $5.3 billion in U.S. fixed income ETFs and $213 million in U.S. equity ETFs, per etf.com.
Silver ETF: A Hot Spot
The ultra-popular iShares Silver Trust (SLV - Free Report) , which offers exposure to the day-to-day movement of the price of silver bullion, was the hottest ETF last week, pulling in about $2.6 billion in assets last week. The product has a Zacks ETF Rank #3 (Hold).
Reddit-fueled frenzy pushed silver price higher to above $30 per ounce for the first time since 2013. The social media, including thousands of Reddit posts and hundreds of YouTube videos, made calls to buy the metal and emulate the frenzy that drove up shares in the U.S. video games retailer GameStop (GME) by 1500% in just two weeks (read: Silver Spikes to 8-Year High of $30: ETFs to Ride the Rally).
International Equity ETFs Shine
International stocks rallied in tandem with the U.S. stocks on hopes of speedy recovery buoyed by stimulus talks, signs of a healing labor market, continued optimism surrounding new vaccines, widening reach of vaccination, and easing restrictions. JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX - Free Report) and JPMorgan BetaBuilders Europe ETF (BBEU - Free Report) saw inflows of $764 million and $562 million, respectively.
BBAX is designed to provide exposure to developed Asian equity markets ex-Japan using an indexed approach while BBEU targets the European equity market. Both the funds have a Zacks ETF Rank #3.
Fixed Income ETFs Attract
Investors drove in flocks into fixed income ETFs despite an uptick in Treasury yields, which generally diminished the demand for these assets. The 30-year yields reached 1.99% on Feb 5, the highest level in about a year. iShares iBoxx USD High Yield Corporate Bond ETF (HYG - Free Report) gathered $2.5 billion and Vanguard Total Bond Market ETF (BND - Free Report) accumulated $611 million in assets (read: Here's Why You Should Buy Bank ETFs Now).
HYG offers exposure to a broad range of U.S. high-yield corporate bonds while BND offers broad exposure to targets the taxable investment-grade U.S. dollar-denominated bond market, excluding inflation-protected and tax-exempt bonds. HYG has a Zacks ETF Rank #4 (Sell).
U.S. Equity ETFs Fade
Though the three major U.S. bourses registered the best week since November, the demand for the equity ETFs faded. SPDR S&P 500 (SPY - Free Report) led the redemption list with outflow of $4 billion last week. The iShares Russell 2000 ETF (IWM - Free Report) and iShares Core S&P 500 ETF (IVV - Free Report) also pulled out more than billion dollars in capital. On the other hand, Vanguard S&P 500 ETF (VOO - Free Report) was the most-loved ETF gathering $8.5 billion in its asset base last week (read: Ride Market Rally With High-Beta ETFs & Stocks).
SPY, IVV and VOO track the S&P 500 while IWM targets the small-cap segment by tracking the Russell 2000 Index. All the funds have a Zacks ETF Rank #3.
ARK Innovation ETF (ARKK - Free Report) Rocks
This ETF continued to attract investors since late last year with inflows of $814 million last week. It is an actively managed fund seeking long-term capital appreciation by investing in companies that benefit from the development of new products or services, technological improvements and advancements in scientific research related to the areas of DNA technologies (Genomic Revolution), industrial innovation in energy, automation and manufacturing (Industrial Innovation), the increased use of shared technology, infrastructure and services (Next Generation Internet), and technologies that make financial services more efficient (Fintech Innovation).
ARK defines ‘‘disruptive innovation’’ as the introduction of a technologically enabled new product or service that potentially changes the way the world works (read: A Deep Dive into ARK ETFs).
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>