ETF Fund Flows (Week Ending 2/15/08)

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 |  Includes: AGG, DBA, DIA, DLS, EEM, EFA, EWA, EWI, EWM, EWW, EWY, EWZ, FXI, FXP, IAI, IEF, IGE, IVV, IVW, IWB, IWD, IWM, IWS, IYR, MBB, MDY, QID, QQQ, SDS, SHY, SMH, SPY, TLT, USO, VWO, XHB, XLE, XLF, XLK, XME
by: IndexUniverse

In sum, across all 652 U.S. ETFs on the market for at least a week, there was a net $2.1 billion in redemption activity last week. All told, there were 150 ETFs with net creation activity and 98 ETFs with net redemption activity.

Largest Net Creations

The iShares Russell 2000 ETF (NYSEARCA:IWM) led all funds with over $2.5 billion in new creation activity last week, for its strongest showing in months. The iShares MSCI Emerging Markets ETF (NYSEARCA:EEM) also showed strong activity, along with the popular iShares Lehman 20+ Year Treasury Fund (NYSEARCA:TLT).

Interestingly, the Dow Diamonds (NYSEARCA:DIA) saw strong pickup, possibly related to the recent reshuffle of Dow components. The true standout this week, however, was the iShares Dow Jones U.S. Broker Dealers Index ETF (NYSEARCA:IAI), which multiplied its assets by a factor of 13 (!), from $20 million to more than $270 million.

Top 20 ETFs By Creation Activity - Week Ending February 15, 2008

Fund

Ticker

Creation Shares

Dollar Value

iShares Russell 2000

IWM

35,750,000

$2,512,510,000

iShares MSCI-Emerging Markets

EEM

4,200,000

$581,994,000

iShares Lehman 20+ Year Treasury Bond

TLT

3,700,000

$336,996,000

DJIA DIAMONDS

DIA

2,050,550

$254,063,145

iShares Dow Jones U.S. Broker-Dealers Index

IAI

5,500,000

$242,825,000

ProShares UltraShort S&P 500

SDS

3,450,000

$217,626,000

United States Oil

USO

2,700,000

$204,606,000

SPDR S&P Homebuilders

XHB

9,650,000

$196,281,000

S&P 400 MidCap SPDR

MDY

1,275,000

$184,887,750

Vanguard Emerging Markets

VWO

1,900,550

$181,217,443

iShares Lehman 1-3 Year Treasury

SHY

2,100,000

$175,791,000

ProShares UltraShort QQQ

QID

3,375,000

$171,281,250

iShares FTSE/Xinhua China 25

FXI

1,100,000

$163,339,000

iShares MSCI-Mexico

EWW

2,500,000

$140,575,000

iShares Lehman Aggregate Bond

AGG

1,300,000

$131,989,000

iShares MSCI-Italy

EWI

3,900,000

$115,362,000

PowerShares DB Agriculture

DBA

2,800,000

$108,528,000

iShares MSCI-Malaysia

EWM

7,875,000

$104,580,000

ProShares UltraShort FTSE/Xinhua China 25

FXP

975,000

$92,771,250

iShares Lehman MBS Fixed-Rate Bond Fund

MBB

900,000

$91,737,000

Click to enlarge

Largest Net Redemptions

On the flip side, there were very heavy redemptions again in the S&P 500 SPDR (NYSEARCA:SPY). This week's $5.5 billion redemption follows last week's $2.9 billion. Combined with a falling market, SPY's net assets have fallen from nearly $100 billion to just under $75 billion.

The PowerShares QQQ Trust (QQQQ) also saw heavy redemptions, at $1.6 billion.

Beyond that, it appears to be a wide sample of funds, ranging from real estate to financials, energy and technology.

Top 20 ETFs By Redemption Activity - Week Ending February 15, 2008

Fund

Ticker

Creation Shares

Dollar Value

S&P 500 SPDR

SPY

(40,400,000)

($5,454,404,000)

PowerShares QQQ Trust

QQQQ

(37,150,000)

($1,626,798,500)

Select Sector SPDR-Financial

XLF

(21,350,000)

($567,696,500)

iShares DJ US Real Estate

IYR

(7,700,000)

($485,562,000)

iShares MSCI-EAFE

EFA

(3,600,000)

($255,708,000)

iShares MSCI-Brazil

EWZ

(3,000,000)

($236,670,000)

iShares S&P Natural Resources

IGE

(1,000,000)

($125,760,000)

Select Sector SPDR-Energy

XLE

(1,700,000)

($124,168,000)

iShares S&P 500

IVV

(900,000)

($121,734,000)

Semiconductor HOLDRS

SMH

(3,772,704)

($107,672,972)

Select sector SPDR-Technology

XLK

(3,550,000)

($81,011,000)

iShares Russell MidCap Value

IWS

(600,000)

($79,374,000)

iShares Russell 1000 Value

IWD

(1,050,000)

($78,865,500)

iShares S&P 500/BARRA Growth

IVW

(1,200,000)

($76,044,000)

iShares MSCI-Australia

EWA

(2,200,000)

($58,960,000)

WisdomTree International SmallCap Dividend

DLS

(900,000)

($53,802,000)

SPDR S&P Metals & Mining

XME

(700,000)

($49,028,000)

iShares Russell 1000

IWB

(650,000)

($47,898,500)

iShares Lehman 7-10 Year Treasury

IEF

(500,000)

($44,360,000)

iShares MSCI-South Korea

EWY

(700,000)

($40,733,000)

Click to enlarge

Data from the American Stock Exchange.

Written by Matthew Hougan