ETFLogic Weekly Update 4/5

Welcome to ETFLogic’s Weekly Newsletter.

We look back at last week’s flows, provide details on new ETF launches and include a timely data point or tool from the ETFLogicInsights Platform.

One Week Trends

1 week Equity ETF Returns

Mexico was last weeks biggest winner, with iShares MSCI Mexico EWW posting a top return of 5.87%. iShares Latin America 40 ILF also made the list of top returns at number 9. 

Energy was the biggest winner category, with Invesco S&P SmallCap Energy PSCE and Invesco Solar TAN, Invesco Dynamic Energy Exploration & Production PXE, and Invesco WilderHill Clean Energy PBW all placing in the top 10 returns.

Sprott Junior Gold Miners SGDJ and VanEck Vectors Junior Gold Miners GDXJ also saw significant returns in the past week.

Nigeria was the biggest loser, with Global X MSCI Nigeria NGE posting nearly -4% returns. 

With the tensions between Pakistan and India mounting, the two countries did not fare well in the markets. Global X MSCI Pakistan PAK posted  an almost 3.5% loss for the week, while its neighbor India was the biggest loser category with Columbia India Small Cap SCIN, VanEck Vectors India Small-Cap Index SCIF, iShares MSCI India Small Cap SMIN, Columbia India Consumer INCO, Invesco India PIN, Columbia India Infrastructure INXX all making top 10 worst losses. 

Technology also did not fare well, with AdvisorShares New Tech and Media (FNG and Invesco DWA Technology Momentum PTF taking 3rd and 4th spots on top outflows.

1 week Fixed Income ETF Returns

Treasury bonds were a clear loser last week, with Longer Term Treasury ETFs posting most negative returns led by PIMCO 25+ Year Zero Coupon Treasury Index ZROZ. 

Short-term, interest-rate hedged, convertible and preferred stock exposure ETPs tended to be on the top led by VelocityShares Long LIBOR ETN ULBR

1 week Equity ETF Flows

Top equity inflows were dominated by the big names, with iShares Core S&P 500 IVV, Invesco QQQ Trust QQQ, SPDR S&P 500 Trust SPY, Vanguard Total Stock Market VTI all making it in the top 10. 

Financial Select Sector SPDR Fund XLFhad a comeback last week, regaining about half of the -$1.2b it lost the previous week.

Mixed flows to Canada, with inflows to JPMorgan BetaBuilders Canada BBCA and outflows from iShares MSCI Canada EWC.

Top outflow was seen from iShares MSCI EAFE EFA, with -$1.6b.

Regional banking, biotech, health care and retail names also saw outflows for the week.

1 Week Fixed Income Flows

We saw mixed flows from Treasury Bond ETFs with the largest outflows coming from iShares 1-3 Year Treasury Bond ETF SHY and largest inflows into longer duration treasury bond ETFs, led by iShares 20+ Year Treasury Bond ETFTLT. 

There was $172m in outflows from Schwab Short-Term U.S. Treasury Bond SCHOand a corresponding $172m  in inflows into iShares Short Treasury Bond SHV.   

Last week saw mixed inflows and outflows from U.S. Corporate Bond ETFs. 

On-Screen Liquidity Momentum

Top 10 secondary-market volume increases where ADV 5-day increased substantially over ADV 20-day and ADV 5-day > $10mm

ETF Name    Ticker  % diff
Franklin Liberty Investment Grade Corporate ETFFLCO298%
JPMorgan BetaBuilders Canada ETFBBCA262%
Franklin FTSE Japan ETFFLJP252%
Invesco S&P 500 Pure Growth ETFRPG202%
iShares MSCI BRIC ETFBKF183%
JPMorgan BetaBuilders Europe ETFBBEU179%
Invesco S&P International Developed Low Volatility ETFIDLV173%
Invesco FTSE RAFI U.S. 1500 Small-Mid ETFPRFZ128%
Franklin LibertyQ U.S. Equity ETFFLQL125%
iShares 0-5 Year TIPS Bond ETFSTIP111%

New  Launches, Filings, Closings and Changes 

New Launches:

  • Innovator ETFs launched its final set of ETFs offering buffered exposure to the S&P 500 Index as part of its Defined Outcome ETF family.  Each provides limited exposure to the performance of the S&P 500 for one year, resetting on April 1, 2020
    • Innovator S&P 500 Buffer ETF – April, BAPR – protects against the first 9% of losses
    • Innovator S&P 500 Power Buffer ETF – April, PAPR– protects against losses up to 15%
    • Innovator S&P 500 Ultra Buffer ETF – April, UAPR – protects against losses greater than 5% but less than 35%

New Filings

  • Granite Shares filed for two ETFs
    • The GraniteShares Battery and Miners ETF, POWR
    • The GraniteShares Junior Tech Mega Trends ETF, MEGA

Closings

  • Deutsche Bank plans to delist 12 of its 16 ETNs as of April 11
    • DB Agriculture Double Long ETN DAG
    • DB Agriculture Long ETN AGF
    • DB Base Metals Double Short ETN BOM
    • DB Base Metals Double Long ETN BDD
    • DB Base Metals Short ETN BOS
    • DB Commodity Double Long ETN DYY
    • DB Commodity Short ETN DDP
    • DB Crude Oil Long ETN   SZO
    • DB Crude Oil Short ETN OLO
    • Elements Dogs of the DOW Dow Jones High Yield Select 10 Total Return ETN DOD
    • Elements Morningstar Wide Moat Focus Total Return Index ETN WMW
    • FI Enhanced Global High Yield ETN FIEG