Large-cap ETFs post biggest outflows in a year

Investors withdrew $34.6B from conventional funds and ETFs, according to the latest Refinitiv Lipper fund flow report

Large-cap ETFs have recorded outflows of $9.4 billion for the period ending Feb. 2, according to the latest fund flow report from Refinitiv Lipper. The figure marks the largest outflows since February of last year.  

Ticker Security Last Change Change %
SPY SPDR S&P 500 ETF 405.37 +8.00 +2.01%
IWM ISHARES TRUST RUSSELL 2000 ETF 182.61 +3.88 +2.17%

The SPDR S&P 500 ETF and iShares Russell 2000 ETF led the week's outflows, with investors redeeming $15.8 billion and $1.1 billion, respectively.  

Ticker Security Last Change Change %
IJR S&P SMCP 600 IDX 100.07 +2.06 +2.10%
XLK TECHNOLOGY SELECT SECTOR SPDR ETF 136.83 +3.21 +2.40%
IVV ISHARES TRUST CORE S&P 500 ETF 407.06 +7.81 +1.96%

Meanwhile, small-cap ETFs, sector technology ETFs and value-aggressive ETFs posted outflows of $1.5 billion, $995 million, and $905 million, respectively. 

Despite suffering a third straight week of outflows greater than $8 billion, large-cap ETFs saw a weekly gain of 4.87%, the largest since April 2020.

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Exchanged-traded equity funds recorded $10 billion in outflows for the week, despite a weekly gain of 4.33%, the largest since November 2020.  

Ticker Security Last Change Change %
CAD n.a. n.a. n.a. n.a.
QQQ INVESCO QQQ NASDAQ 100 299.33 +8.07 +2.77%

Equity ETFs with the largest inflows for the week included the iShares: Core S&P 500 and Invesco QQQ Trust 1, which took in $2.8 billion and $2.6 billion, respectively.

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Fixed-income ETFs suffered net outflows of $1.1 billion, led by the iShares TIPS Bond ETF and iShares: 7-10 Treasury Bond ETF's outflows of $1.6 billion and $1 billion, respectively. 

Ticker Security Last Change Change %
TIP ISHARES BARCLAYS TIPS BOND FUND 119.40 +0.48 +0.40%
IEF ISHARES TRUST 7-10 YEAR TREASURY BD ETF 104.26 -0.05 -0.05%
IUSB ISHARES TRUST CORE TOTAL USD BOND MKT ETF 48.04 +0.01 +0.02%
BIL SPDR SERIES TRUST BLOMBRG BARCLYS 1-3 T BILLS 91.48 +0.02 +0.02%

The largest inflows came from the iShares: Core Total USD Bond Market ETF and SPDR Bloomberg 1- Month T-Bill ETF, which brought in $1.7 billion and $1.4 billion, respectively. 

Overall, investors withdrew a net total of $34.6 billion from conventional funds and ETFs. The largest outflows came from money market funds, which lost $21.4 billion. Meanwhile, equity funds posted outflows of $5.2 billion, taxable bond funds saw outflows of $5.1 billion and tax-exempt bond funds suffered outflows of $2.9 billion.