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Overall, ETFs pulled in $1.6 billion in capital last week, taking year-to-date inflows to $280.6 billion. U.S. fixed-income ETFs led the way higher with $3.9 billion in inflows, followed by $247.8 million in international fixed-income ETFs and $95.9 million in leveraged ETFs, per etf.com.
Invesco QQQ Trust (QQQ - Free Report) , SPDR Bloomberg 1-3 Month T-Bill ETF (BIL - Free Report) , Health Care Select Sector SPDR Fund (XLV - Free Report) , iShares Edge MSCI USA Quality Factor ETF (QUAL - Free Report) and iShares Russell 2000 ETF (IWM - Free Report) dominated the top creation list last week.
Wall Street ended the week with mixed performances. The S&P 500 and the Nasdaq Composite Index snapped a three-week losing streak last Friday, ending the week on a positive note, while the Dow Jones logged the second straight week of losses. Bets over higher rates for longer than expected have been weighing on investor sentiment (read: The New ETF That Protects Against All Market Losses).
The Federal Reserve Chair Jerome Powell, at the Jackson Hole Economic Symposium, expressed confidence in continued economic growth in the United States, citing “robust” consumer spending and early signs of a recovery in the housing market. However, the Fed warned that inflation is still too high and that the central bank is prepared to raise interest rates further and keep the borrowing costs high until inflation comes down to the target range of 2%.
Invesco QQQ topped asset flow creation last week, gathering $1.3 billion in capital. QQQ 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 5.4% of assets. The product is also heavily tilted toward information technology at 61.6%, while consumer discretionary round off the next spot with a 19.3% share.
Invesco QQQ is one of the largest and most popular ETFs in the large-cap space, with AUM of $197.1 billion and an average daily volume of 46.4 million shares. QQQ charges investors 20 bps in annual fees and has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook
SPDR Bloomberg 1-3 Month T-Bill ETF saw an inflow of $770.2 million last week. It seeks to provide exposure to zero-coupon U.S. Treasury securities with a remaining maturity of 1-3 months. It follows the Bloomberg 1-3 Month U.S. Treasury Bill Index, holding 19 securities in its basket. Both average maturity and adjusted duration are at 0.09 years each.
SPDR Bloomberg 1-3 Month T-Bill ETF has AUM of $29.6 billion and an average daily volume of 5.7 million shares. It charges 13 bps in annual fees and has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
Health Care Select Sector SPDR Fund gathered $737.4 million last week. It is the most popular health care ETF and follows the Health Care Select Sector Index. Health Care Select Sector SPDR Fund holds 65 securities in its basket, with pharma companies taking the top spot at 31.5% of assets while health care providers and services, health care equipment and supplies, biotech and life sciences tools & services receive double-digit exposure each (read: 5 ETFs to Protect Your Portfolio From Downside Risk).
Health Care Select Sector SPDR Fund manages nearly $30 billion in its asset base and trades in a heavy volume of around 9 million shares. The expense ratio comes in at 0.10%. XLV has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook.
Shares Edge MSCI USA Quality Factor ETF pulled in $543.3 million in capital. It provides exposure to large and mid-cap stocks exhibiting positive fundamentals (high return on equity, stable year-over-year earnings growth and low financial leverage) by tracking the MSCI USA Sector Neutral Quality Index. QUAL holds 125 stocks in its basket, with each making up not more than 6.3% share (read: Time for High-Quality ETFs as Slowdown Worries Mount?).
With an AUM of $31.4 billion, iShares Edge MSCI USA Quality Factor ETF charges 15 bps of annual fees, and trades an average daily volume of 1.4 million shares.
iShares Russell 2000 ETF has accumulated $517.7 million in its asset base. It is the largest and most popular ETF in the small-cap space, with AUM of $53.7 billion and an average daily volume of 25 million shares. iShares Russell 2000 ETF holds well-diversified 1,990 stocks in its basket and has key holdings in industrials, financials, healthcare, information technology and consumer discretionary.
iShares Russell 2000 ETF charges 19 bps in annual fees and has a Zacks ETF Rank #3 with a Medium risk outlook.
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5 ETFs That Gained Investors' Love Last Week
Overall, ETFs pulled in $1.6 billion in capital last week, taking year-to-date inflows to $280.6 billion. U.S. fixed-income ETFs led the way higher with $3.9 billion in inflows, followed by $247.8 million in international fixed-income ETFs and $95.9 million in leveraged ETFs, per etf.com.
Invesco QQQ Trust (QQQ - Free Report) , SPDR Bloomberg 1-3 Month T-Bill ETF (BIL - Free Report) , Health Care Select Sector SPDR Fund (XLV - Free Report) , iShares Edge MSCI USA Quality Factor ETF (QUAL - Free Report) and iShares Russell 2000 ETF (IWM - Free Report) dominated the top creation list last week.
Wall Street ended the week with mixed performances. The S&P 500 and the Nasdaq Composite Index snapped a three-week losing streak last Friday, ending the week on a positive note, while the Dow Jones logged the second straight week of losses. Bets over higher rates for longer than expected have been weighing on investor sentiment (read: The New ETF That Protects Against All Market Losses).
The Federal Reserve Chair Jerome Powell, at the Jackson Hole Economic Symposium, expressed confidence in continued economic growth in the United States, citing “robust” consumer spending and early signs of a recovery in the housing market. However, the Fed warned that inflation is still too high and that the central bank is prepared to raise interest rates further and keep the borrowing costs high until inflation comes down to the target range of 2%.
We have detailed the ETFs below:
Invesco QQQ Trust (QQQ - Free Report)
Invesco QQQ topped asset flow creation last week, gathering $1.3 billion in capital. QQQ 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 5.4% of assets. The product is also heavily tilted toward information technology at 61.6%, while consumer discretionary round off the next spot with a 19.3% share.
Invesco QQQ is one of the largest and most popular ETFs in the large-cap space, with AUM of $197.1 billion and an average daily volume of 46.4 million shares. QQQ charges investors 20 bps in annual fees and has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook
SPDR Bloomberg 1-3 Month T-Bill ETF (BIL - Free Report)
SPDR Bloomberg 1-3 Month T-Bill ETF saw an inflow of $770.2 million last week. It seeks to provide exposure to zero-coupon U.S. Treasury securities with a remaining maturity of 1-3 months. It follows the Bloomberg 1-3 Month U.S. Treasury Bill Index, holding 19 securities in its basket. Both average maturity and adjusted duration are at 0.09 years each.
SPDR Bloomberg 1-3 Month T-Bill ETF has AUM of $29.6 billion and an average daily volume of 5.7 million shares. It charges 13 bps in annual fees and has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
Health Care Select Sector SPDR Fund (XLV - Free Report)
Health Care Select Sector SPDR Fund gathered $737.4 million last week. It is the most popular health care ETF and follows the Health Care Select Sector Index. Health Care Select Sector SPDR Fund holds 65 securities in its basket, with pharma companies taking the top spot at 31.5% of assets while health care providers and services, health care equipment and supplies, biotech and life sciences tools & services receive double-digit exposure each (read: 5 ETFs to Protect Your Portfolio From Downside Risk).
Health Care Select Sector SPDR Fund manages nearly $30 billion in its asset base and trades in a heavy volume of around 9 million shares. The expense ratio comes in at 0.10%. XLV has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook.
iShares Edge MSCI USA Quality Factor ETF (QUAL - Free Report)
Shares Edge MSCI USA Quality Factor ETF pulled in $543.3 million in capital. It provides exposure to large and mid-cap stocks exhibiting positive fundamentals (high return on equity, stable year-over-year earnings growth and low financial leverage) by tracking the MSCI USA Sector Neutral Quality Index. QUAL holds 125 stocks in its basket, with each making up not more than 6.3% share (read: Time for High-Quality ETFs as Slowdown Worries Mount?).
With an AUM of $31.4 billion, iShares Edge MSCI USA Quality Factor ETF charges 15 bps of annual fees, and trades an average daily volume of 1.4 million shares.
iShares Russell 2000 ETF (IWM - Free Report)
iShares Russell 2000 ETF has accumulated $517.7 million in its asset base. It is the largest and most popular ETF in the small-cap space, with AUM of $53.7 billion and an average daily volume of 25 million shares. iShares Russell 2000 ETF holds well-diversified 1,990 stocks in its basket and has key holdings in industrials, financials, healthcare, information technology and consumer discretionary.
iShares Russell 2000 ETF charges 19 bps in annual fees and has a Zacks ETF Rank #3 with a Medium risk outlook.