Overall, ETFs pulled in $6.2 billion in capital last week, taking year-to-date inflows to $464.2 billion. U.S. equity ETFs led the way higher with $6.7 billion in inflows, followed by $1.7 billion in international fixed-income ETFs and $267.8 million in leveraged ETFs, per etf.com.
SPDR S&P 500 ETF Trust SPY, iShares Core S&P 500 ETF IVV, Vanguard Total Stock Market ETF VTI, Vanguard S&P 500 ETF VOO and iShares 20+ Year Treasury Bond ETF TLT dominated the top creation list last week.
Wall Street wrapped up the fifth consecutive week of gains. The S&P 500 Index and Dow Jones achieved new highs for the year, reaching levels last seen in March 2022 and February 2022, respectively. For the week, the S&P 500 gained 0.8%, whereas the Dow Jones rallied 2.4%. The Nasdaq Composite Index advanced 0.4% (read: 5 Top-Performing Leveraged ETFs of Blockbuster November).
Growing optimism that the Fed might be nearing the end of its rate hiking cycle on cooling has been driving the stocks. The latest data revealed that the personal consumption expenditure price index — the Federal Reserve’s inflation gauge — rose 3.5% year over year in October, down from a 3.7% annual gain in the prior month.
The confidence was further bolstered by comments from Fed Chair Jerome Powell that the central bank could cut rates starting in March. According to CME’s FedWatch tool, traders are pricing in a 70% chance for a rate cut by the U.S. central bank by next March.
We have detailed the ETFs below:
SPDR S&P 500 ETF Trust (SPY)
SPDR S&P 500 ETF Trust is the top asset creator, pulling in $5.3 billion in capital. It tracks the S&P 500 Index and holds 503 stocks in its basket, with each accounting for no more than 7.3% of the assets. SPDR S&P 500 ETF Trust is heavy on the information technology sector with a 29% share, while financials, healthcare and consumer discretionary round off the next three spots with a double-digit allocation each (read: 5 Stocks That Powered S&P 500 ETF This Year).
SPDR S&P 500 ETF Trust charges investors 9 bps in annual fees and trades in an average daily volume of 75 million shares. It has an AUM of $435.8 billion and a Zacks ETF Rank #3 (Hold), with a Medium risk outlook.
iShares Core S&P 500 ETF (IVV)
iShares Core S&P 500 ETF has gathered $2.3 billion in capital. It tracks the S&P 500 Index and holds 503 stocks in its basket, each accounting for no more than 7.3% of the assets. iShares Core S&P 500 ETF is heavy on the information technology sector, while financials, healthcare and consumer discretionary round off its next three spots with a double-digit allocation each.
iShares Core S&P 500 ETF charges investors 3 bps in annual fees and trades in an average daily volume of 4.2 million shares. It has an AUM of $378.8 billion and a Zacks ETF Rank #2 (Buy), with a Medium risk outlook.
Vanguard Total Stock Market ETF (VTI)
Vanguard Total Stock Market ETF gathered $1.6 billion in capital. It provides exposure to the broader stock market by tracking the CRSP US Total Market Index. Vanguard Total Stock Market ETF holds a large basket of well-diversified 3,793 stocks with key holdings in technology, consumer discretionary, industrials, healthcare and financials.
Vanguard Total Stock Market ETF charges 3 bps in fees per year from investors and trades in an average daily volume of 3.3 million shares. VTI has amassed $329.5 billion in its asset base and has a Zacks ETF Rank #2, with a Medium risk outlook.
Vanguard S&P 500 ETF (VOO)
Vanguard S&P 500 ETF has accumulated $1.3 billion in capital. It tracks the S&P 500 Index and holds 507 stocks in its basket, each accounting for no more than 7.1% of the assets. Vanguard S&P 500 ETF is heavy on the information technology sector, while consumer discretionary, healthcare and industrials round off its next three spots with a double-digit allocation.
Vanguard S&P 500 ETF charges investors 3 bps in annual fees and trades in an average daily volume of 4.4 million shares. It has an AUM of $355.1 billion and a Zacks ETF Rank #2, with a Medium risk outlook.
iShares 20+ Year Treasury Bond ETF (TLT)
iShares 20+ Year Treasury Bond ETF has accumulated $975.4 million in its asset base. It provides exposure to long-term Treasury bonds by tracking the ICE U.S. Treasury 20+ Years Bond Index. iShares 20+ Year Treasury Bond ETF holds 41 securities in its basket and charges 15 bps in annual fees. It has an average maturity of 25.66 years and an effective duration of 16.82 years (read: Treasury ETFs on Track for Best Month Since March).
TLT is one of the most popular and liquid ETFs in the bond space, with an AUM of $46 billion and an average daily volume of 48 million shares. iShares 20+ Year Treasury Bond ETF has a Zacks ETF Rank #4 (Sell), with a High risk outlook.
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iShares 20+ Year Treasury Bond ETF (TLT): ETF Research Reports
SPDR S&P 500 ETF (SPY): ETF Research Reports
Vanguard Total Stock Market ETF (VTI): ETF Research Reports
Vanguard S&P 500 ETF (VOO): ETF Research Reports
iShares Core S&P 500 ETF (IVV): ETF Research Reports
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