BBJP: Second-Fastest ETF to Cross $1 Billion in Assets



ETF inflows continued unabated

Positive sentiments continued to prevail on Wall Street despite fears of another escalation in the trade war. A continued rally in stocks powered strong inflows into ETFs last week. According to FactSet, US-listed ETFs collected $6.1 billion, which brings the inflows to $137.1 billion year-to-date. US equity (GS) (BAC) (MS) was the top asset class with the highest collection of $2.8 billion, while international equity ETFs were in the second spot with $1.5 billion. US fixed-income ETFs collected $1.3 billion, while international fixed-income ETFs garnered $519 million.

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BBJP rose

The Invesco QQQ Trust (QQQ) collected the highest inflows with net creations of $1.2 billion. However, the JPMorgan BetaBuilders Japan ETF (BBJP) was the star ETF last week. BBJP collected just over $1.0 billion last week. The ETF’s assets under management were less than $10 million a week ago. BBJP is the second-fastest ETF to reach the $1 billion mark after the SPDR Gold Trust (GLD).

The Financial Select Sector SPDR Fund (XLF) collected $732.4 billion. The iShares MSCI Europe Financials ETF (EUFN) and the Vanguard Intermediate-Term Treasury Index ETF (VGIT) saw their assets rise 18.5% and 21%, respectively.

The outflows were led by the SPDR S&P 500 Trust ETF (SPY) with net redemptions of $2.6 billion. However, of the top-ten ETFs with the highest outflows, seven were from the iShares with combined redemptions of ~$2.5 billion.

Upcoming events

The US is scheduled to unveil an advance estimate of the second quarter GDP growth rate on July 27. The US is scheduled to release the existing home sales and new home sales data for June on July 23 and July 25, respectively. The European Central Bank is scheduled to announce its interest rate decision on July 26.


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