Fixed Income Inflows Buoy Market as SPDR Sees Major Redemptions

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Market Flow Summary

The U.S. ETF market recorded a total net inflow of +$2.28 billion. Vanguard led all issuers with the highest net inflow of the day. The top individual fund for inflows was the Simplify US Equity PLUS Downside Convexity ETF (DSPY). Conversely, SPDR experienced the largest net outflow among all issuers. The fund with the most significant single-day outflow was the SPDR S&P 500 ETF Trust (SPY). Among high-velocity brands, iPath was the most notable, with inflows representing a significant percentage of its assets under management.

Flow Summary by Asset Class

Fixed Income and Non-Traditional asset classes were the primary drivers of inflows for the day, attracting +$2.27 billion and +$478.08 million, respectively. On a year-to-date basis, Equity remains the leading asset class, having accumulated +$391.34 billion in net flows.

  • Fixed Income: 1D Flow: +$2.27B, 1M Flow: +$48.18B, YTD Flow: +$248.58B
  • Non-Traditional: 1D Flow: +$478.08M, 1M Flow: +$3.03B, YTD Flow: +$60.98B
  • Alternative: 1D Flow: +$164.38M, 1M Flow: +$954.20M, YTD Flow: +$3.18B
  • Digital Asset: 1D Flow: +$108.59M, 1M Flow: +$3.94B, YTD Flow: +$29.05B
  • Multi-Asset: 1D Flow: +$55.77M, 1M Flow: +$879.03M, YTD Flow: +$3.15B
  • Currency: 1D Flow: -$11.18M, 1M Flow: -$160.43M, YTD Flow: +$553.92M
  • Commodity: 1D Flow: -$176.79M, 1M Flow: +$2.06B, YTD Flow: +$25.58B
  • Equity: 1D Flow: -$607.83M, 1M Flow: +$69.65B, YTD Flow: +$391.34B

Top/Bottom Five Category Flows

The day’s flows showed a distinct preference for U.S. Large Cap Growth and core Fixed Income categories, which saw inflows of +$1.84 billion and +$575.97 million. In contrast, U.S. Large Cap Blend funds experienced substantial redemptions of -$3.26 billion, followed by Buffer Equity strategies with outflows of -$480.75 million.

Top 5 Category Inflows:

  • Equity: U.S. Large Cap – Growth: +$1.84B
  • Fixed Income: Taxable – Core: +$575.97M
  • Non-Traditional: Synthetic Income – Equity: +$457.47M
  • Equity: U.S. Large Cap – Value: +$434.67M
  • Fixed Income: Taxable – Government Ultrashort: +$378.94M

Bottom 5 Category Outflows:

  • Equity: U.S. Large Cap – Blend: -$3.26B
  • Non-Traditional: Buffer – Equity: -$480.75M
  • Equity: U.S. Small Cap – Blend: -$459.47M
  • Fixed Income: Taxable – High Yield: -$298.40M
  • Equity: Region – Eurozone: -$219.61M

ETF Issuer Flow Analysis

Vanguard recorded the highest net inflow among issuers with +$1.58 billion, representing +0.05% of its AUM. SPDR saw the largest net outflow at -$3.41 billion, or -0.21% of its AUM. iPath stood out as the top high-velocity brand, with a daily inflow equivalent to +13.76% of its total assets.

Top & Bottom 5 Brands by Net Daily Flow

  • Top 5 Brands by Inflows:
    • Vanguard: Aggregate AUM: $3,485.17B, 1D Flow: +$1.58B, 1D Flow as % of AUM: +0.05%
    • iShares: Aggregate AUM: $3,624.02B, 1D Flow: +$1.01B, 1D Flow as % of AUM: +0.03%
    • Tema: Aggregate AUM: $473.82M, 1D Flow: +$592.76M, 1D Flow as % of AUM: -498.39%
    • Schwab: Aggregate AUM: $456.24B, 1D Flow: +$501.19M, 1D Flow as % of AUM: +0.11%
    • JPMorgan: Aggregate AUM: $238.78B, 1D Flow: +$306.96M, 1D Flow as % of AUM: +0.13%
  • Bottom 5 Brands by Outflows:
    • SPDR: Aggregate AUM: $1,648.13B, 1D Flow: -$3.41B, 1D Flow as % of AUM: -0.21%
    • Innovator: Aggregate AUM: $27.92B, 1D Flow: -$481.29M, 1D Flow as % of AUM: -1.69%
    • ARK: Aggregate AUM: $13.72B, 1D Flow: -$88.29M, 1D Flow as % of AUM: -0.64%
    • WisdomTree: Aggregate AUM: $87.49B, 1D Flow: -$71.49M, 1D Flow as % of AUM: -0.08%
    • US Commodity Funds: Aggregate AUM: $2.21B, 1D Flow: -$59.40M, 1D Flow as % of AUM: -2.61%

High-Velocity Brands (Aggregate AUM > $500M, 1D Flow > +/- 5% of AUM)

The following brand experienced a significant flow relative to its asset base.

  • iPath: Aggregate AUM: $1.36B, 1D Flow: +$164.42M, 1D Flow as % of AUM: +13.76%

Significant Single-Fund Movements

The most notable single-fund movements were seen in the Simplify US Equity PLUS Downside Convexity ETF (DSPY), which gathered the largest inflow of the day, and the SPDR S&P 500 ETF Trust (SPY), which experienced the largest outflow.

Largest Absolute Daily Flows (Net Flows > $250M)

  • Largest Inflows:
    • DSPY: AUM: $13.71M, 1D Flow: +$590.59M, 1D Flow as % of AUM: -10237.69%
    • AGG: AUM: $129.24B, 1D Flow: +$395.38M, 1D Flow as % of AUM: +0.31%
    • SCHG: AUM: $46.75B, 1D Flow: +$381.00M, 1D Flow as % of AUM: +0.82%
    • SPYG: AUM: $39.45B, 1D Flow: +$357.53M, 1D Flow as % of AUM: +0.91%
    • VUG: AUM: $183.42B, 1D Flow: +$339.91M, 1D Flow as % of AUM: +0.19%
  • Largest Outflows:
    • SPY: AUM: $651.98B, 1D Flow: -$4.07B, 1D Flow as % of AUM: -0.62%
    • IWM: AUM: $63.23B, 1D Flow: -$327.64M, 1D Flow as % of AUM: -0.52%
    • HYG: AUM: $18.18B, 1D Flow: -$320.95M, 1D Flow as % of AUM: -1.73%
    • QQQ: AUM: $368.52B, 1D Flow: -$281.70M, 1D Flow as % of AUM: -0.08%

High-Velocity Inflows (AUM > $100M, 1D Flow > +5% of AUM)

  • GRIN: AUM: $132.10M, 1D Flow: +$131.49M, 1D Flow as % of AUM: +21408.11%
  • CAIE: AUM: $107.99M, 1D Flow: +$24.73M, 1D Flow as % of AUM: +29.70%
  • VXX: AUM: $725.38M, 1D Flow: +$161.04M, 1D Flow as % of AUM: +28.54%
  • BTAL: AUM: $358.45M, 1D Flow: +$41.75M, 1D Flow as % of AUM: +13.18%
  • AMDY: AUM: $185.99M, 1D Flow: +$20.18M, 1D Flow as % of AUM: +12.17%
  • UNHG: AUM: $164.56M, 1D Flow: +$16.46M, 1D Flow as % of AUM: +11.11%
  • PMBS: AUM: $591.09M, 1D Flow: +$53.81M, 1D Flow as % of AUM: +10.02%
  • BOIL: AUM: $482.01M, 1D Flow: +$40.15M, 1D Flow as % of AUM: +9.09%
  • HIMZ: AUM: $144.31M, 1D Flow: +$11.78M, 1D Flow as % of AUM: +8.89%
  • UBT: AUM: $108.61M, 1D Flow: +$8.18M, 1D Flow as % of AUM: +8.14%
  • PTIR: AUM: $631.54M, 1D Flow: +$47.22M, 1D Flow as % of AUM: +8.08%
  • SDOW: AUM: $223.36M, 1D Flow: +$15.98M, 1D Flow as % of AUM: +7.71%
  • ILDR: AUM: $109.62M, 1D Flow: +$7.40M, 1D Flow as % of AUM: +7.24%
  • SPXU: AUM: $525.38M, 1D Flow: +$35.30M, 1D Flow as % of AUM: +7.20%
  • RWM: AUM: $121.69M, 1D Flow: +$8.14M, 1D Flow as % of AUM: +7.17%
  • FHEQ: AUM: $459.89M, 1D Flow: +$30.11M, 1D Flow as % of AUM: +7.01%
  • MSTX: AUM: $764.93M, 1D Flow: +$48.58M, 1D Flow as % of AUM: +6.78%
  • HOOY: AUM: $234.26M, 1D Flow: +$12.86M, 1D Flow as % of AUM: +5.81%
  • AGQ: AUM: $723.04M, 1D Flow: +$38.97M, 1D Flow as % of AUM: +5.70%
  • FELG: AUM: $3.89B, 1D Flow: +$195.19M, 1D Flow as % of AUM: +5.29%

High-Velocity Outflows (AUM > $100M, 1D Flow > -5% of AUM)

  • USEP: AUM: $255.45M, 1D Flow: -$127.59M, 1D Flow as % of AUM: -33.31%
  • BSEP: AUM: $330.77M, 1D Flow: -$164.84M, 1D Flow as % of AUM: -33.26%
  • ISEP: AUM: $175.02M, 1D Flow: -$86.94M, 1D Flow as % of AUM: -33.19%
  • BUZZ: AUM: $115.71M, 1D Flow: -$17.96M, 1D Flow as % of AUM: -13.43%
  • ECML: AUM: $145.54M, 1D Flow: -$14.67M, 1D Flow as % of AUM: -9.16%
  • QABA: AUM: $114.55M, 1D Flow: -$11.14M, 1D Flow as % of AUM: -8.87%
  • CHAU: AUM: $165.64M, 1D Flow: -$14.17M, 1D Flow as % of AUM: -7.88%
  • OPER: AUM: $125.49M, 1D Flow: -$10.04M, 1D Flow as % of AUM: -7.41%
  • AAPU: AUM: $227.90M, 1D Flow: -$17.45M, 1D Flow as % of AUM: -7.11%
  • KOLD: AUM: $174.55M, 1D Flow: -$13.09M, 1D Flow as % of AUM: -6.97%
  • XRT: AUM: $385.45M, 1D Flow: -$24.98M, 1D Flow as % of AUM: -6.09%
  • USO: AUM: $954.55M, 1D Flow: -$59.40M, 1D Flow as % of AUM: -5.86%
  • UUP: AUM: $188.16M, 1D Flow: -$11.03M, 1D Flow as % of AUM: -5.54%
  • LLYX: AUM: $103.67M, 1D Flow: -$5.07M, 1D Flow as % of AUM: -4.66%

Custom Analysis and Daily Data

The data summaries presented in this report were generated using the powerful dashboarding capabilities of the ETF Action Navigator tool. This institutional-grade platform provides users with the ability to conduct deep, customized analysis by filtering, sorting, and grouping the entire ETF universe across hundreds of distinct data points. From high-level asset class trends to granular single-fund metrics, Navigator allows for the creation of bespoke dashboards tailored to any workflow, ensuring you can track the flows and metrics that matter most to your strategy.

Disclosures

  • Fund Flow Data: The fund flow data used in this report is sourced from FactSet, which collects information directly from ETF issuers, and grouped using ETF Action’s proprietary classifications. This data is reported on a T+1 basis, meaning the activity detailed in this report reflects net flows from the previous trading day relative to the report’s date.
  • Large Flow Activity: Significant single-day inflows or outflows may not always represent typical market sentiment. Such anomalies can be linked to strategic actions, including tax-efficient rebalancing through custom create/redeem processes. Monitoring these flows over a multi-day period is recommended for a comprehensive analysis.
  • AI Generated Content: This report was generated with assistance from AI.

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