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Market participants attracted $13.8B of investor capital into the fund space which included both conventional funds and ETFs for the week. The influx of cash marked the segments third week in four that it observed inflows according to the latest Refinitiv Lipper weekly fund flow report.
At the top of the leaderboard were money market funds as they amassed $38.9B while tax-exempt fixed income funds took in $47M. In reverse, equity funds retracted $24.9B and taxable bond funds lost $292M for the week.
Equity exchange traded funds noticed a second straight week of outflows as the market gave back $9.2B. The two ETFs that experienced the most significant outflows were the popular SPDR S&P 500 ETF (NYSEARCA:SPY) and iShares Russell 2000 ETF (NYSEARCA:IWM). SPY handed back $6.9B and IWM observed outflows of $862M.
From an inflow standpoint, the ETFs that were at the helm included the iShares Core S&P 500 ETF (IVV) at +$1.3B and the SPDR Portfolio S&P 500 Value ETF (SPYV) at +$449M.
On the fixed income exchange traded fund front the funds that garnered the most investor capital was the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) which brought in $1.4B and the iShares 7-10 Year Treasury Bond ETF (IEF) which pulled in $1.1M.
On the other end of the spectrum the iShares 1-3 Year Treasury Bond ETF (NASDAQ:SHY) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) gave back the most significant amount of cash. SHY lost $1.3B and BIL lost $815M.
In broader market news, stock index futures pointed to a slightly higher open on Friday, but the indexes are still on track for a down week.
Image and article originally from seekingalpha.com. Read the original article here.