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Overall, ETFs pulled in $8.2 billion in capital in the week ended Jan 27. International equity ETFs led the way higher with $7.5 billion in inflows, closely followed by $1.4 billion in international fixed-income ETFs and $1 billion in inverse ETFs, per etf.com.
As such, JPMorgan BetaBuilders Europe ETF (BBEU - Free Report) , SPDR S&P 500 ETF Trust (SPY - Free Report) , iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD - Free Report) , JPMorgan Equity Premium Income ETF (JEPI - Free Report) and ProShares UltraPro Short QQQ (SQQQ - Free Report) dominated the top creation list last week.
International stocks have been performing better than the U.S. stocks. These offer more enticing valuations after a long period of U.S. dominance. Additionally, a weak dollar is providing a boost to international stocks. The U.S. dollar against a basket of currencies has been on a downtrend this year, with the US Dollar Index hovering at a seven-month low after peaking at a 20-year high last September.
The weak trend is likely to continue, given the higher speculation over the Fed’s slower rate hike. This is because a strong greenback generally eats away foreign investment gains when repatriated in U.S. dollar terms. Additionally, the reopening of China after a speedy Zero-Covid policy exit should fuel growth globally.
JPMorgan BetaBuilders Europe ETF topped asset flow creation last week, gathering $2.5 billion in capital. It provides investors exposure to developed European equity markets by tracking the Morningstar Developed Europe Target Market Exposure Index, which is a free-float adjusted, market-cap weighted index consisting of stocks traded on the primary exchanges in developed countries across Europe (read: Winning Europe ETFs to Start 2023).
Holding 513 stocks in its basket, JPMorgan BetaBuilders Europe ETF has amassed $6.7 billion in its asset base and charges 9 bps in fees from investors. It trades in a heavy volume of nearly 1.6 million shares a day on average and has a Zacks ETF Rank #4 (Sell).
SPDR S&P 500 ETF Trust pulled in $1.6 billion in capital. It tracks the S&P 500 Index and holds 503 stocks in its basket, with each accounting for no more than 6.4% of assets. SPDR S&P 500 ETF Trust is heavy on the information technology sector with a 26.7% share, while healthcare, financials 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 68.3 million shares. It has AUM of $379.7 billion and a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
iShares iBoxx $ Investment Grade Corporate Bond ETF gathered $937.4 million in capital. It offers exposure to a broad range of U.S. investment-grade corporate bonds by tracking the Markit iBoxx USD Liquid Investment Grade Index. iShares iBoxx $ Investment Grade Corporate Bond ETF holds 2,581 securities in its basket with an effective duration of 8.56 years and an average maturity of 13.07 years (read: Bond ETFs Emerging Popular to Start 2023: Here's Why).
iShares iBoxx $ Investment Grade Corporate Bond ETF has AUM of $40.7 billion and trades in an average daily volume of 17 million shares. LQD charges 14 bps in annual fees and has a Zacks ETF Rank #3 with a High risk outlook.
JPMorgan Equity Premium Income ETF has accumulated $894 million in capital. It seeks to provide current income while maintaining prospects for capital appreciation. JPMorgan Equity Premium Income ETF generates income through a combination of selling options and investing in U.S. large-cap stocks, seeking to deliver a monthly income stream from associated option premiums and stock dividends.
JPMorgan Equity Premium Income ETF has AUM of $19.6 billion and charges 35 bps in annual fees. The product trades in an average daily volume of 3.8 million shares.
ProShares UltraPro Short QQQ saw an inflow of $858 million last week. It provides three times inverse exposure to the daily performance of the Nasdaq-100 Index, charging 95 bps in annual fees. The index measures the performance of the 100 largest domestic and international non-financial companies listed on the Nasdaq Stock Market based on market capitalization (read: ETFs to Play Nasdaq's Fastest Start Since 2019).
ProShares UltraPro Short QQQ has AUM of $4.8 billion and trades in an average daily volume of about 103 billion shares.
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5 ETFs That Gained Investors' Love Last Week
Overall, ETFs pulled in $8.2 billion in capital in the week ended Jan 27. International equity ETFs led the way higher with $7.5 billion in inflows, closely followed by $1.4 billion in international fixed-income ETFs and $1 billion in inverse ETFs, per etf.com.
As such, JPMorgan BetaBuilders Europe ETF (BBEU - Free Report) , SPDR S&P 500 ETF Trust (SPY - Free Report) , iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD - Free Report) , JPMorgan Equity Premium Income ETF (JEPI - Free Report) and ProShares UltraPro Short QQQ (SQQQ - Free Report) dominated the top creation list last week.
International stocks have been performing better than the U.S. stocks. These offer more enticing valuations after a long period of U.S. dominance. Additionally, a weak dollar is providing a boost to international stocks. The U.S. dollar against a basket of currencies has been on a downtrend this year, with the US Dollar Index hovering at a seven-month low after peaking at a 20-year high last September.
The weak trend is likely to continue, given the higher speculation over the Fed’s slower rate hike. This is because a strong greenback generally eats away foreign investment gains when repatriated in U.S. dollar terms. Additionally, the reopening of China after a speedy Zero-Covid policy exit should fuel growth globally.
We have given details of the ETFs below:
JPMorgan BetaBuilders Europe ETF (BBEU - Free Report)
JPMorgan BetaBuilders Europe ETF topped asset flow creation last week, gathering $2.5 billion in capital. It provides investors exposure to developed European equity markets by tracking the Morningstar Developed Europe Target Market Exposure Index, which is a free-float adjusted, market-cap weighted index consisting of stocks traded on the primary exchanges in developed countries across Europe (read: Winning Europe ETFs to Start 2023).
Holding 513 stocks in its basket, JPMorgan BetaBuilders Europe ETF has amassed $6.7 billion in its asset base and charges 9 bps in fees from investors. It trades in a heavy volume of nearly 1.6 million shares a day on average and has a Zacks ETF Rank #4 (Sell).
SPDR S&P 500 ETF Trust (SPY - Free Report)
SPDR S&P 500 ETF Trust pulled in $1.6 billion in capital. It tracks the S&P 500 Index and holds 503 stocks in its basket, with each accounting for no more than 6.4% of assets. SPDR S&P 500 ETF Trust is heavy on the information technology sector with a 26.7% share, while healthcare, financials 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 68.3 million shares. It has AUM of $379.7 billion and a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD - Free Report)
iShares iBoxx $ Investment Grade Corporate Bond ETF gathered $937.4 million in capital. It offers exposure to a broad range of U.S. investment-grade corporate bonds by tracking the Markit iBoxx USD Liquid Investment Grade Index. iShares iBoxx $ Investment Grade Corporate Bond ETF holds 2,581 securities in its basket with an effective duration of 8.56 years and an average maturity of 13.07 years (read: Bond ETFs Emerging Popular to Start 2023: Here's Why).
iShares iBoxx $ Investment Grade Corporate Bond ETF has AUM of $40.7 billion and trades in an average daily volume of 17 million shares. LQD charges 14 bps in annual fees and has a Zacks ETF Rank #3 with a High risk outlook.
JPMorgan Equity Premium Income ETF (JEPI - Free Report)
JPMorgan Equity Premium Income ETF has accumulated $894 million in capital. It seeks to provide current income while maintaining prospects for capital appreciation. JPMorgan Equity Premium Income ETF generates income through a combination of selling options and investing in U.S. large-cap stocks, seeking to deliver a monthly income stream from associated option premiums and stock dividends.
JPMorgan Equity Premium Income ETF has AUM of $19.6 billion and charges 35 bps in annual fees. The product trades in an average daily volume of 3.8 million shares.
ProShares UltraPro Short QQQ (SQQQ - Free Report)
ProShares UltraPro Short QQQ saw an inflow of $858 million last week. It provides three times inverse exposure to the daily performance of the Nasdaq-100 Index, charging 95 bps in annual fees. The index measures the performance of the 100 largest domestic and international non-financial companies listed on the Nasdaq Stock Market based on market capitalization (read: ETFs to Play Nasdaq's Fastest Start Since 2019).
ProShares UltraPro Short QQQ has AUM of $4.8 billion and trades in an average daily volume of about 103 billion shares.