Wall Street watched $26B exit the fund market, marking its third straight week of outflows

Sep. 16, 2022 9:19 AM ETSPDR S&P 500 Trust ETF (SPY), QQQ, XLP, SHVSH, BIL, SPTI, USMVBy: Jason Capul, SA News Editor3 Comments

New York Stock Exchange, Wall st, New York, USA

Matteo Colombo

The financial community found themselves to be overall net redeemers of funds assets on the week across both conventional funds and exchange traded funds, marking its third straight week of retractions. For the week, Wall Street experienced net outflows that totaled $26.1B according to data from the latest Refinitiv Fund flow report.

At the helm were money market funds, equity funds, and tax-exempt funds as the three experienced losses of $15.3B, $12.7B, and $1.4B, respectively. At the same time, taxable bond funds attracted $3.4B on the week.

From an equity ETF stance, the space noticed $5.9B leave for the door. Of the outflow group, two of the more prominent ETFs on the Street led the way. SPDR S&P 500 ETF (NYSEARCA:SPY) and the Invesco QQQ Trust 1 (NASDAQ:QQQ) suffered the largest capital outflows at $3.8B and $1.5B.

Additionally, the equity ETF inflow leaders were the Select Sector: Consumer Stables SPDR (NYSEARCA:XLP), as it took in $1.3B and the iShares: MSCI USA Minimum Volatility Factor (USMV) as it attracted $702M for the week.

From a fixed income ETF standpoint, the group garnered $7.2B in weekly inflows which were led by the iShares: Short Treasury Bond ETF (NASDAQ:SHV) and SPDR Bloomberg 1-3 Months T-Bill ETF (BIL). SHV brought in $1.5B whereas BIL attracted $768m.

At the other end of the spectrum, the SPDR Portfolio Intermediate Term Treasury ETF (SPTI) and ProShares: Short S&P 500 ETF (SH) observed the most significant outflows at $276M and $211M.

In broader financial news, stock index futures point to a decline at the start of Friday with markets set to make it four down weeks out of the last five.

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