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Index Universe


From Index Universe:

By Matthew Hougan

Investors yanked $6.54 billion out of the ETF industry last week, due to large-scale pullbacks in the two S&P 500 ETFs (SPY and IVV) and additional major withdrawals from the iShares Russell 2000 ETF (IWM), among others. As usual, the number of creations outnumbered the number of redemptions, 163 to 83. But the size of the withdrawals was much larger, and that tipped the balance.

Largest Creation Value

Energy dominated the list of funds with large-scale creation activity, with the Select Sector SPDR - Energy ETF (XLE) leading the pack with $1.5 billion in net creations. Also pulling in significant assets were the ProShares UltraShort Oil & Gas (DUG), the Oil Services HOLDRS (OIH), the MACROShares Oil Up ETF (UCR) and the United States Oil Fund (USO).

Beyond the energy patch, alternative assets did well, with the streetTRACKS Gold Trust (GLD) landing a third-place slot on the list and the PowerShares DB US Dollar Index Bullish Fund (UUP) posting gains as well.

International funds also did well, with Brazil (EWZ), China (FXI), Latin America (ILF) and the broad-based Emerging Markets (VWO) all notching gains.

ETF Creation Activity - Week Ending May 9, 2008

Fund

Ticker

Total Assets

Creation Value

Select Sector SPDR-Energy

XLE

6,896,250,592

1,505,739,000

iShares MSCI-Brazil

EWZ

8,895,151,500

506,715,000

iShares FTSE/Xinhua China 25

FXI

7,605,677,500

339,746,000

streetTRACKS Gold Trust

GLD

16,623,360,000

285,120,000

iShares S&P Latin America 40 Index

ILF

4,331,736,000

226,496,000

Vanguard Emerging Markets ETF

VWO

7,277,466,265

193,976,187

iShares Lehman 20+ Year Treasury Bond Fund

TLT

1,784,606,000

137,985,000

ProShares UltraShort Oil & Gas

DUG

1,529,347,500

129,829,500

iShares Russell MidCap

IWR

3,699,675,000

126,875,000

Oil Services HOLDRS

OIH

2,558,353,786

121,100,850

MACROshares Oil Up Tradeable Shares

UCR

539,865,000

117,970,500

United States Oil Fund LP

USO

620,000,000

110,000,000

PowerShares DB US Dollar Index Bullish Fund

UUP

456,800,000

109,632,000

ProShares Ultra Financials

UYG

1,009,320,000

106,755,000

Vanguard Total Market ETF

VTI

10,664,979,164

106,363,387

Select sector SPDR-Technology

XLK

3,256,098,404

98,480,000

iShares DJ US Real Estate

IYR

2,152,501,000

96,278,000

ProShares UltraShort QQQ

QID

1,590,174,000

96,192,000

Claymore/BNY BRIC ETF

EEB

1,213,436,952

93,957,500

iShares MSCI-Italy

EWI

285,571,500

93,630,000


Largest Redemption Value

On the flip side, investors pulled major assets out of some of the largest ETFS, starting with the $3.5 billion drawdown in the S&P 500 SPDR (SPY).

The iShares Russell 2000 (IWM) lost $2.8 billion, while the iShares S&P 500 (IVV) and iShares Lehman 1-3 Year Treasury Bond Fund (SHY) lost $994 million and $899 million, respectively.

ETF Redemption Activity - Week Ending May 9, 2008

Fund

Ticker

Total Assets

Redemption Value

S&P 500 SPDR

SPY

73,289,138,550

(3,530,960,000)

iShares Russell 2000

IWM

7,741,118,000

(2,796,999,500)

iShares S&P 500

IVV

18,179,788,000

(994,426,000)

iShares Lehman 1-3 Year Treasury Bond Fund

SHY

9,080,393,000

(898,884,000)

S&P 400 MidCap SPDR

MDY

8,334,071,330

(666,731,910)

PowerShares QQQ Trust

QQQQ

17,684,685,000

(614,805,000)

DJIA DIAMONDS

DIA

8,804,268,440

(386,070,000)

Select Sector SPDR-Materials

XLB

1,635,536,973

(304,842,000)

iShares MSCI-EAFE

EFA

47,680,380,000

(276,408,000)

iShares MSCI-Mexico

EWW

1,445,708,000

(209,090,000)

iShares Russell 1000

IWB

3,737,427,000

(198,718,000)

KBW Bank ETF

KBE

571,259,722

(185,702,000)

Select Sector SPDR-Industrial

XLI

1,591,656,619

(133,066,500)

iShares MSCI-Germany

EWG

1,901,787,000

(119,484,000)

iShares S&P GSTI Semiconductor Index

IGW

264,005,000

(108,381,000)

iShares MSCI-U.K.

EWU

1,063,848,000

(107,318,000)

iShares MSCI-Australia

EWA

1,468,928,000

(103,284,000)

ProShares UltraShort Financials

SKF

2,134,623,000

(99,820,500)

SPDR S&P Metals & Mining ETF

XME

380,198,000

(91,916,000)

Select Sector SPDR-Consumer Staples

XLP

2,299,364,631

(85,461,000)

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  •  
    Sure looks like forces gathering for a downturn.
    2008 May 21 02:37 AM | Link | Reply