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ETFs across various categories raked in $38 billion in capital last week, pushing year-to-date inflows to $730 billion. U.S. equity ETFs led the way with $13.3 billion in inflows, followed by $10.6 billion in inflows for fixed income ETFs and $8.8 billion for international ETFs.
Wall Street posted its second week of gains, driven by cooler inflation data that bolstered expectations for a potential Fed rate cut next month. The Dow Jones outperformed, gaining 1.7%, while the S&P 500 and Nasdaq Composite Index rose 0.9% and 0.8%, respectively.
U.S. consumer sentiment deteriorated in August, falling for the first time in four months. The University of Michigan’s consumer sentiment index dropped to 58.6 in August from 61.7, reflecting renewed concerns over inflation. Meanwhile, retail sales jumped 0.5% in July, showing that consumer spending had steadied following a dramatic drop earlier in the year.
Invesco QQQ Trust is the top asset creator, pulling in $6.6 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 one of the largest and most popular ETFs in the large-cap space, with an AUM of $373.6 billion and an average daily volume of 44 million shares. QQQ charges investors 20 bps in annual fees and has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook (read: 5 Stocks in QQQ ETF That Drove Nasdaq's Record Closing High).
Vanguard S&P 500 ETF gathered $3 billion in its asset base last week. It tracks the S&P 500 Index and holds 504 stocks in its basket, each accounting for no more than 8% of the assets. Vanguard S&P 500 ETF is heavy on the information technology sector, while financials, consumer discretionary, and communication services round off the next three spots with a double-digit allocation each. Vanguard S&P 500 ETF charges investors 3 bps in annual fees. It has AUM of $732 billion and trades in an average daily volume of 5 million shares. VOO has a Zacks ETF Rank #1 with a Medium risk outlook (read: Vanguard's VOO Becomes First ETF to Cross $700B).
ARK Innovation ETF has gathered $2.7 billion in its asset base. It is an actively managed fund investing in companies that benefit from the development of products or services, technological improvements, and advancements in scientific research related to the areas of DNA technologies and genomic revolution, automation, robotics, energy storage, artificial intelligence, next-generation Internet and Fintech innovation. In total, the fund holds 45 securities in its basket. ARK Innovation ETF has gathered $10 billion in its asset base and charges 75 bps in fees per year from investors. It trades in an average daily volume of 13 million shares.
iShares Ethereum Trust ETF saw inflows of $2.2 billion. It seeks to reflect the performance of the price of Ethereum. ETHA is managed by the world’s largest asset manager and leverages a multi-year technology integration developed with Coinbase Prime, the world’s largest institutional digital asset custodian. ETHA has AUM of $15.9 billion and trades in an average daily volume of 54 million shares. It charges 25 bps in annual fees (read: Here's Why Ethereum ETFs are Surging).
Vanguard Intermediate-Term Corporate Bond ETF (VCIT - Free Report)
Vanguard Intermediate-Term Corporate Bond ETF has accumulated $1.6 billion in its asset base. It follows the Bloomberg U.S. 5–10 Year Corporate Bond Index and holds 2,134 bonds in its basket with an effective maturity of 7.5 years and an average duration of 6.1 years. With AUM of $55.8 billion, Vanguard Intermediate-Term Corporate Bond ETF trades in a solid volume of around 12.5 million shares and has an expense ratio of 0.03%. The product has a Zacks ETF Rank #4 (Sell) with a Medium risk outlook.
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5 ETFs That Gained Investors' Love Last Week
ETFs across various categories raked in $38 billion in capital last week, pushing year-to-date inflows to $730 billion. U.S. equity ETFs led the way with $13.3 billion in inflows, followed by $10.6 billion in inflows for fixed income ETFs and $8.8 billion for international ETFs.
Invesco QQQ Trust (QQQ - Free Report) , Vanguard S&P 500 ETF (VOO - Free Report) , ARK Innovation ETF (ARKK - Free Report) , iShares Ethereum Trust ETF (ETHA - Free Report) and Vanguard Intermediate-Term Corporate Bond ETF (VCIT - Free Report) dominated the top creation list last week.
Wall Street posted its second week of gains, driven by cooler inflation data that bolstered expectations for a potential Fed rate cut next month. The Dow Jones outperformed, gaining 1.7%, while the S&P 500 and Nasdaq Composite Index rose 0.9% and 0.8%, respectively.
U.S. consumer sentiment deteriorated in August, falling for the first time in four months. The University of Michigan’s consumer sentiment index dropped to 58.6 in August from 61.7, reflecting renewed concerns over inflation. Meanwhile, retail sales jumped 0.5% in July, showing that consumer spending had steadied following a dramatic drop earlier in the year.
We have detailed the ETFs below.
Invesco QQQ Trust (QQQ - Free Report)
Invesco QQQ Trust is the top asset creator, pulling in $6.6 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 one of the largest and most popular ETFs in the large-cap space, with an AUM of $373.6 billion and an average daily volume of 44 million shares. QQQ charges investors 20 bps in annual fees and has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook (read: 5 Stocks in QQQ ETF That Drove Nasdaq's Record Closing High).
Vanguard S&P 500 ETF (VOO - Free Report)
Vanguard S&P 500 ETF gathered $3 billion in its asset base last week. It tracks the S&P 500 Index and holds 504 stocks in its basket, each accounting for no more than 8% of the assets. Vanguard S&P 500 ETF is heavy on the information technology sector, while financials, consumer discretionary, and communication services round off the next three spots with a double-digit allocation each. Vanguard S&P 500 ETF charges investors 3 bps in annual fees. It has AUM of $732 billion and trades in an average daily volume of 5 million shares. VOO has a Zacks ETF Rank #1 with a Medium risk outlook (read: Vanguard's VOO Becomes First ETF to Cross $700B).
ARK Innovation ETF (ARKK - Free Report)
ARK Innovation ETF has gathered $2.7 billion in its asset base. It is an actively managed fund investing in companies that benefit from the development of products or services, technological improvements, and advancements in scientific research related to the areas of DNA technologies and genomic revolution, automation, robotics, energy storage, artificial intelligence, next-generation Internet and Fintech innovation. In total, the fund holds 45 securities in its basket. ARK Innovation ETF has gathered $10 billion in its asset base and charges 75 bps in fees per year from investors. It trades in an average daily volume of 13 million shares.
iShares Ethereum Trust ETF (ETHA - Free Report)
iShares Ethereum Trust ETF saw inflows of $2.2 billion. It seeks to reflect the performance of the price of Ethereum. ETHA is managed by the world’s largest asset manager and leverages a multi-year technology integration developed with Coinbase Prime, the world’s largest institutional digital asset custodian. ETHA has AUM of $15.9 billion and trades in an average daily volume of 54 million shares. It charges 25 bps in annual fees (read: Here's Why Ethereum ETFs are Surging).
Vanguard Intermediate-Term Corporate Bond ETF (VCIT - Free Report)
Vanguard Intermediate-Term Corporate Bond ETF has accumulated $1.6 billion in its asset base. It follows the Bloomberg U.S. 5–10 Year Corporate Bond Index and holds 2,134 bonds in its basket with an effective maturity of 7.5 years and an average duration of 6.1 years. With AUM of $55.8 billion, Vanguard Intermediate-Term Corporate Bond ETF trades in a solid volume of around 12.5 million shares and has an expense ratio of 0.03%. The product has a Zacks ETF Rank #4 (Sell) with a Medium risk outlook.