Investors moved sharply into gold and defensive corners of the ETF market on Monday, in the latest flow data compiled by Etf.com, while some of the biggest U.S. equity ETFs saw heavy redemptions.
- SPDR Gold Shares (NYSE:GLD) led all ETFs with $1.19 billion of net inflows, lifting its AUM 0.79% to $150.9 billion.
- Avantis U.S. Large Cap Value ETF (NYSE:AVLV) followed with $998.7 million
- FT Vest U.S. Equity Buffer ETF – August (BATS:FAUG) attracted $851.2 million, equivalent to a 41.17% increase in AUM.
On the Redemption Side
Three ETFs together lost roughly $4.35 billion. They include:
- Invesco QQQ Trust (NASDAQ:QQQ), $1.6 billion in outflows.
- iShares Core S&P 500 ETF (NYSE:IVV), $1.49 billion.
- SPDR S&P 500 ETF Trust (NYSE:SPY), $1.26 billion.
Semiconductors also faced pressure, with the iShares Semiconductor ETF (NASDAQ:SOXX) shedding $653.2 million.
QUICK CONTEXT: Investors Broaden ETF Positioning
The latest flow data points to a notable contrast within the ETF market: investors were not abandoning ETFs broadly, but were reallocating across asset classes and equity styles.
Gold stood out as the biggest destination for fresh capital, with GLD pulling in $1.19 billion. The move comes alongside nearly $1 billion flowing into AVLV, suggesting some investors were favoring value exposure over the growth-heavy positioning represented by QQQ.
At the same time, core U.S. equity ETFs saw substantial redemptions. QQQ, IVV and SPY collectively lost about $4.35 billion, while SOXX recorded another $653 million of outflows. The selling was not limited to equities: HYG, a high-yield corporate bond ETF, shed $587.9 million.
Defensive and Diversified Products Continue to Attract Money
- iShares 0-3 Month Treasury Bond ETF (NYSE:SGOV), which invests in 0-3 month Treasury bonds, gained $492.9 million
- Vanguard Intermediate-Term Corporate Bond ETF (NASDAQ:VCIT) drew $486.8 million
Broad-market Vanguard ETFs Vanguard Morningstar Total Stock Market ETF (NYSE:VTI), Vanguard Morningstar Total Stock Market ETF (NYSE:VTI) and Vanguard FTSE Developed Markets ETF (NYSE:VEA) also posted inflows.
The data suggest a shift in positioning rather than a wholesale risk-off move. Investors are spreading flows across gold, value, short-term Treasuries, corporate bonds and diversified equity exposure while trimming some of the market’s largest growth and benchmark ETFs.
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