ETFLogic Weekly 5/3



Welcome to ETFLogic’s weekly update.

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

US Listed ETFs – Equity – 1 Week Best & Worst Returns

Argentina led the pack for Equity ETF returns last week, with iShares MSCI Argentina and Global Exposure AGT and Global X MSCI Argentina ARGT both posting over 7.5%.

Health care was also a winning category, with the remaining top 10 returns all being health care & biotech related names, with the exception of the tech-focused Ark Innovation ETF ARKK.

China tensions escalated in the second half of the week, which led to significant losses to China names.

Indonesia, who just decided to switch its capital city at the end of April, also seemed to be a losing trend – with iShares MSCI Indonesia EIDO and VanEck Vectors Indonesia Index IDX.

US Listed ETFs – Fixed Income – 1 Week Best & Worst Returns

Long duration and municipal bond ETFs led fixed income returns last week, led by PIMCO 25+ Year Zero Coupon US Treasury Index ZROZ.

Emerging Markets local bonds had the worst returns last week, along with other international fixed income names.

US Listed ETFs – Equity – 1 Week Inflows & Outflows

Financial Select Sector SPDR Fund XLF led Equity inflows last week, and was followed by a mix of small cap, utilities, large cap, consumer discretionary and semiconductor name SMH.

Semiconductors have made a significant comeback in 2019, with SMH and other semiconductor names SOXX, FTXL, and XSD all posting noteworthy returns YTD. But with the latest shake-up on a US-China trade deal, it’ll be interesting to see if this comeback from chipmakers will continue

US Listed ETFs – Fixed Income – 1 Week Inflows & Outflows

Fixed income ETF inflows were led by iShares Broad USD High Yield Corporate Bond USHY. Short term bond ETFs had significant inflows last week as well.

Outflows were led by iShares iBoxx USD Investment Grade Corporate Bond LQD. Treasury bonds also saw large outflows last week.

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
Principal Investment Grade Corporate Active ETFIG296%
Invesco 1-30 Laddered Treasury ETFPLW268%
iShares Broad USD High Yield Corporate Bond ETFUSHY263%
Invesco BuyBack Achievers ETFPKW220%
Invesco S&P 500 Pure Growth ETFRPG203%
Invesco Russell Top 200 Pure Growth ETFPXLG186%
iShares U.S. Consumer Services ETFIYC159%
SPDR S&P China ETFGXC152%
Invesco S&P 500 Top 50 ETFXLG149%
Invesco DWA Momentum ETFPDP144%

New  Launches, Filings, Closings and Changes 

New Launches:

  • Pacer adds 5 new funds 
    • Pacer Trendpilot Fund of Funds ETF TRND
    • Pacer Trendpilot International ETF PTIN
    • Pacer Emerging Markets Cash Cows 100 ETF ECOW
    • Pacer US Cash Cows Growth ETF BUL
    • Pacer Cash Cows Fund of Funds ETF HERD
  • iPath Series B S&P 500 VIX Short Term Futures ETN VXX, 89 bps
  • iPath Series B S&P 500 VIX Mid-Term Futures ETN VXZ, 89 bps
  • Timothy Plan High Dividend Stock ETF TPHD, 52 bps

New Filings

  • Invesco adds to its BulletShares products with two new funds
    • Invesco BulletShares 2029 Corporate Bond ETF
    • Invesco BulletShares 2027 High Yield Corporate Bond ETF

Closings

  • WBI to close its two international ETFs
    • WBI Bull|Bear Global Income ETF WBII
    • WBI Bull|Bear Global Rotation ETF WBIR
  • Xtrackers MSCI United Kingdom Hedged Equity ETF DBUK
  • Xtrackers Germany Equity ETF GRMY

Expense Ratio Changes

  • CWA Income ETF, CWAI 75→76 bps
  • Vanguard changed the cost of 11 of its funds
    • Vanguard Total Stock Market ETF VTI, 4→3 bps
    • Vanguard S&P 500 ETF VOO, 4→3 bps
    • Vanguard FTSE Developed Markets ETF VEA, 7→5 bps
    • Vanguard FTSE Emerging Markets ETF VWO, 14→12 bps     
    • Vanguard Value ETF VTV, 5→4 bps     
    • Vanguard Growth ETF VUG, 5→4 bps                  
    • Vanguard Total Bond Market ETF BND, 5→4 bps             
    • Vanguard Mid-Cap ETF VO, 5→4 bps     
    • Vanguard Large-Cap ETF VV, 5→4 bps     
    • Vanguard Extended Market ETF VXF, 8→7 bps
    • Vanguard Global ex-U.S. Real Estate ETF VNQI, 14→12 bps     
  • First Trust 
    • First Trust Capital Strength ETF FTCS, 61→60 bps
    • First Trust Water ETF FIW, 56→55 bps
    • First Trust Chindia ETF FNI, 60→59 bps
    • First Trust Dorsey Wright DALI 1 ETF DALI, 92→91 bps