ETF Weekly Update 6/21

Last week, Iran shot down a US drone which escalated tensions in the Middle East, the Fed announced there would be no interest rate cuts, and Slack WORKfinally IPOed on Thursday.

With the rising geopolitical tensions and a dovish Fed statement, the ETF markets made some major moves…

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One Week Trends


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

With all of the increasing economic concerns, Gold and precious metal ETFs rose to new highs last week – with the price of gold rising over $1,400 by the end of the week. The Global X Gold Explorers ETF GOEXled the charge for Gold ETFs, rising 13.30% by the end of trading Friday.

Due to increased tensions between the US and Iran, Saudi Arabia was the biggest loser last week – with iShares MSCI Saudi Arabia KSA dropping 5.90%. Despite positive statements regarding Saudi Arabian’s oil production policies from Brian Hook, the US envoy on Iran, investors are concerned about the threat that conflict could pose to oil coming out of the Middle East.

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

The iShares Inflation Hedged Corporate Bond ETF LQDI led fixed income returns last week, followed by a strong majority of international fixed income ETFs.

The VelocityShares Long LIBOR ETN ULBR saw a huge drop last week, falling more than 8% by the end of day Friday.

Preferred names also seemed to be a losing trend amongst fixed income ETFs last week.

US Listed ETFs – Equity – Top Inflows & Outflows

President Trump’s announcement to meet with China’s Xi Jinping at the G-20 summit this week eased investor concerns over the trade war and led to large inflows to IVVVO and QQQ. But the most notable top inflows came from the First Trust Cloud Computing ETF SKYY.

SPY saw huge outflows last week, as investors looked to take profit on the new S&P 500 record highs.

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

iShares iBoxx corporate bond ETF LQDled fixed income inflows for the second week in a row, while iShares 1-3 year treasury bond SHY also ran a second week with largest outflows.

Overall, fixed income ETFs saw large inflows as interest rates fell and bonds rallied.

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 U.S. Mega-Cap Multi-Factor Index ETFUSMC369%
Nuveen Enhanced Yield U.S. Aggregate Bond ETFNUAG359%
FlexShares STOXX Global Broad Infrastructure Index FundNFRA347%
VanEck Vectors Agribusiness ETFMOO328%
iShares Global 100 ETFIOO292%
iShares Agency Bond ETFAGZ273%
iShares U.S. Financial Services ETFIYG268%
WisdomTree International SmallCap Dividend FundDLS256%
Invesco Financial Preferred ETFPGF256%
iShares India 50 ETFINDY251%

New Launches, Filings, Closings andChanges 

New Launches:

  • Belpointe Asset Management launched the Tactical Income ETF TBND 159 bps


New Filings:

  • iShares iBonds Dec 2029 Term Corporate ETF
  • ProShares has filed for three new ETFs
    • ProShares Russell US Dividend Growers ETF
    • ProShares MSCI International Dividend Growers ETF 
    • ProShares S&P Global Technology Dividend Aristocrats ETF 

Closings:

  •  The ETF Industry Exposure & Financial Services ETF TETFsaw its last day of trading last Tuesday

Expense Ratio Changes:

  • iShares Core MSCI EAFE ETF IEFA  8→7 bps
  • iShares MBS ETF MBB 9→7 bps
  • iShares Core MSCI Total International Stock ETF IXUS10→9 bps
  • iShares Intermediate-Term Corporate Bond ETF IGIB 6→20 bps
  • iShares MSCI All Country Asia ex Japan ETF AAXJ69→66 bps
  • iShares Broad USD Investment Grade Corporate Bond ETF USIG 6→15 bps
  • iShares Core MSCI Europe ETF IEUR 10→9 bps
  • iShares ESG MSCI USA Leaders ETF SUSL 15→10 bps
  • iShares Core MSCI Pacific ETF IPAC10→9 bps