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Overall, ETFs pulled in $11.9 billion in capital last week, taking the year-to-date inflows to $150.3 billion. U.S. equity ETFs led the way higher with $8.5 billion in inflows, closely followed by $4.1 billion in U.S. fixed-income ETFs and $507.5 million in international equity ETFs, per etf.com.
As such, SPDR S&P 500 ETF Trust (SPY - Free Report) , Invesco QQQ Trust (QQQ - Free Report) , iShares 7-10 Year Treasury Bond ETF (IEF - Free Report) , iShares iBoxx USD High Yield Corporate Bond ETF (HYG - Free Report) and Vanguard S&P 500 ETF (VOO - Free Report) dominated the top creation list last week.
Wall Street wrapped up the positive week with the tech-heavy Nasdaq index posting the sixth straight week of gains, marking the best streak since January. The rally came on the back of a stronger jobs report and a debt ceiling deal (read: 5 Stocks in Dow ETF Leading Index to Best Day of 2023).
Hiring surged as the economy added better-than-expected 339,000 jobs in May. The job gains for March and April were also stronger than previously reported. The April jobs figure was revised up by 41,000, while the March number was revised up by 52,000. Though the unemployment rate rose by 0.3 percentage points to 3.7%, job gains were broad-based in professional and business services, government, health care, construction, transportation and warehousing, and social assistance.
Meanwhile, Congress approved a deal to lift the country's borrowing limit, days before the world's largest economy is due to default on its debt. Additionally, hopes that the Federal Reserve may pause interest rate hikes added to further enthusiasm.
SPDR S&P 500 ETF Trust is the top asset creator, pulling in $4 billion in capital. It tracks the S&P 500 Index and holds 503 stocks in its basket, with each accounting for no more than 7.5% of assets. SPDR S&P 500 ETF Trust is heavy on the information technology sector with a 27.8% 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 69 million shares. It has AUM of $401.1 billion and a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
Invesco QQQ saw an inflow of $3.4 billion in capital. It provides exposure to the 101 largest domestic and international non-financial companies listed on the Nasdaq by tracking the Nasdaq 100 Index. Invesco QQQ is heavily concentrated on the top two firms with a double-digit allocation, while other firms hold no more than 6.8% of assets (read: 5 Stocks That Powered a Historic May for Nasdaq ETF).
Invesco QQQ is one of the largest and most popular ETFs in the large-cap space, with AUM of $191.7 billion and an average daily volume of 48 million shares. QQQ charges investors 20 bps in annual fees and has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook.
iShares 7-10 Year Treasury Bond ETF accumulated $1.4 billion last week. It targets mid-cap U.S. Treasury bonds and tracks the ICE US Treasury 7-10 Year Index. With AUM of $29.4 billion, iShares 7-10 Year Treasury Bond ETF holds 17 bonds in its basket with weighted maturity of 8.42 years and an effective duration of 7.60 years.
iShares 7-10 Year Treasury Bond ETF charges investors 15 bps in fees per year and trades in an average daily volume of 8 million shares. It has a Zacks ETF Rank #3 (Hold) with a High risk outlook.
iShares iBoxx USD High Yield Corporate Bond ETF (HYG - Free Report)
iShares iBoxx $ High Yield Corporate Bond ETF has accumulated $1.4 billion in capital. 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 1,195 securities in its basket with an average maturity of 4.92 years and an effective duration of 3.68 years.
iShares iBoxx $ High Yield Corporate Bond ETF is one of the most widely used high-yield bond ETFs, with AUM of $16 billion and an average daily volume of 34 million shares. HYG charges 48 bps in annual fees and has a Zacks ETF Rank #4 (Sell) with a High risk outlook.
Vanguard S&P 500 ETF has gathered $534.5 million in its asset base. It tracks the S&P 500 Index and holds 505 stocks in its basket, each accounting for no more than 7.2% of assets. Vanguard S&P 500 ETF is heavy on the information technology sector while healthcare, financials and consumer discretionary round off its next three spots with a double-digit allocation each (read: Analysts Raise S&P 500 Target Price: ETFs to Buy).
Vanguard S&P 500 ETF charges investors 3 bps in annual fees and trades in an average daily volume of 3 million shares. It has AUM of $299.5 billion and a Zacks ETF Rank #2 with a Medium-risk outlook.
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5 ETFs That Gained Investors' Love Last Week
Overall, ETFs pulled in $11.9 billion in capital last week, taking the year-to-date inflows to $150.3 billion. U.S. equity ETFs led the way higher with $8.5 billion in inflows, closely followed by $4.1 billion in U.S. fixed-income ETFs and $507.5 million in international equity ETFs, per etf.com.
As such, SPDR S&P 500 ETF Trust (SPY - Free Report) , Invesco QQQ Trust (QQQ - Free Report) , iShares 7-10 Year Treasury Bond ETF (IEF - Free Report) , iShares iBoxx USD High Yield Corporate Bond ETF (HYG - Free Report) and Vanguard S&P 500 ETF (VOO - Free Report) dominated the top creation list last week.
Wall Street wrapped up the positive week with the tech-heavy Nasdaq index posting the sixth straight week of gains, marking the best streak since January. The rally came on the back of a stronger jobs report and a debt ceiling deal (read: 5 Stocks in Dow ETF Leading Index to Best Day of 2023).
Hiring surged as the economy added better-than-expected 339,000 jobs in May. The job gains for March and April were also stronger than previously reported. The April jobs figure was revised up by 41,000, while the March number was revised up by 52,000. Though the unemployment rate rose by 0.3 percentage points to 3.7%, job gains were broad-based in professional and business services, government, health care, construction, transportation and warehousing, and social assistance.
Meanwhile, Congress approved a deal to lift the country's borrowing limit, days before the world's largest economy is due to default on its debt. Additionally, hopes that the Federal Reserve may pause interest rate hikes added to further enthusiasm.
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 billion in capital. It tracks the S&P 500 Index and holds 503 stocks in its basket, with each accounting for no more than 7.5% of assets. SPDR S&P 500 ETF Trust is heavy on the information technology sector with a 27.8% 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 69 million shares. It has AUM of $401.1 billion and a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
Invesco QQQ Trust (QQQ - Free Report)
Invesco QQQ saw an inflow of $3.4 billion in capital. It provides exposure to the 101 largest domestic and international non-financial companies listed on the Nasdaq by tracking the Nasdaq 100 Index. Invesco QQQ is heavily concentrated on the top two firms with a double-digit allocation, while other firms hold no more than 6.8% of assets (read: 5 Stocks That Powered a Historic May for Nasdaq ETF).
Invesco QQQ is one of the largest and most popular ETFs in the large-cap space, with AUM of $191.7 billion and an average daily volume of 48 million shares. QQQ charges investors 20 bps in annual fees and has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook.
iShares 7-10 Year Treasury Bond ETF (IEF - Free Report)
iShares 7-10 Year Treasury Bond ETF accumulated $1.4 billion last week. It targets mid-cap U.S. Treasury bonds and tracks the ICE US Treasury 7-10 Year Index. With AUM of $29.4 billion, iShares 7-10 Year Treasury Bond ETF holds 17 bonds in its basket with weighted maturity of 8.42 years and an effective duration of 7.60 years.
iShares 7-10 Year Treasury Bond ETF charges investors 15 bps in fees per year and trades in an average daily volume of 8 million shares. It has a Zacks ETF Rank #3 (Hold) with a High risk outlook.
iShares iBoxx USD High Yield Corporate Bond ETF (HYG - Free Report)
iShares iBoxx $ High Yield Corporate Bond ETF has accumulated $1.4 billion in capital. 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 1,195 securities in its basket with an average maturity of 4.92 years and an effective duration of 3.68 years.
iShares iBoxx $ High Yield Corporate Bond ETF is one of the most widely used high-yield bond ETFs, with AUM of $16 billion and an average daily volume of 34 million shares. HYG charges 48 bps in annual fees and has a Zacks ETF Rank #4 (Sell) with a High risk outlook.
Vanguard S&P 500 ETF (VOO - Free Report)
Vanguard S&P 500 ETF has gathered $534.5 million in its asset base. It tracks the S&P 500 Index and holds 505 stocks in its basket, each accounting for no more than 7.2% of assets. Vanguard S&P 500 ETF is heavy on the information technology sector while healthcare, financials and consumer discretionary round off its next three spots with a double-digit allocation each (read: Analysts Raise S&P 500 Target Price: ETFs to Buy).
Vanguard S&P 500 ETF charges investors 3 bps in annual fees and trades in an average daily volume of 3 million shares. It has AUM of $299.5 billion and a Zacks ETF Rank #2 with a Medium-risk outlook.