US equity was the top grosser
It was another week of massive inflows into US-listed ETFs. According to FactSet, ETFs added $15.9 billion last week, which took the year-to-date inflows to $33.8 billion. US equity (C) (BAC) (GS) (USB) added $9.8 billion, while international equity had net creations of $5.4 billion. US fixed income was the only asset class that saw redemptions of $1.7 billion. International fixed income added $1.2 billion. After many weeks, commodities saw net additions of $460 million.
SPY’s assets soar
The SPDR S&P 500 ETF Trust (SPY) continued to be the big winner of the week with inflows of $7.8 billion. SPY’s total assets under management have reached $292 billion. The iShares Core MSCI Emerging Markets ETF (IEMG) was next with inflows of $1 billion. The iShares MSCI Japan ETF (EWJ) added $737 million.
The iShares Russell 1000 Value ETF (IWD) continued to witnessed outflows with net redemptions of $1.2 billion. Many fixed income ETFs like the SPDR Bloomberg Barclays High Yield Bond ETF (JNK), the iShares iBoxx $Investment Grade Corporate Bond ETF (LQD), and the iShares iBoxx $ High Yield Corporate Bond ETF (HYG) saw substantial outflows during the week.
The US will report an advance estimate of the fourth quarter GDP growth rate. The US economy grew 3.2% in 3Q17. The United Kingdom and South Korea will also report their fourth quarter GDP growth rate. The US will release existing home sales and new home sales data for December. The Bank of Japan and the European Central Bank will come out with their interest rate decision this week. Japan and Canada will release their inflation numbers for December.