SPDR ETFs reports European ETF flows led by commodities last week
State Street Global Advisors’ SPDR ETFs has reported on European ETF flow data as of 20th April.
Claire Perryman, Head of UK for SPDR ETFs, says: “Flows were led by commodities and fixed income last week. Within equities, it was US and Emerging markets that led the way while European flows gave up much of their January inflows. These numbers filtered down to more targeted exposures too as US Financials ETFs had a better week and regained their position as investors’ top sector of the week with good interest in Energy as well.
“Emerging market investments also came under the spotlight this week. Emerging market equities continue their momentum and after a weaker March, Emerging Market Debt began to see flows gathering momentum again.”
In terms of equities, SPDR ETFs report that equity ETFs continued to struggle with a USD78 million net inflow and USD2.5 billion of flows out month on month.
The data shows that the US and EM continue to buck this trend with USD763 million of inflows this week for US and USD2.4 billion for the month. Europe saw USD550 million of flows out this week and experienced a USD5 billion outflow for the month, reversing all the stellar January inflows.
SPDR reports that single country saw USD649 million of outflows with Japan seeing the largest proportion of this.
In terms of equity sector, US Financials regained its spot on the leader board with USD104 million flowing in this week, SPDR says. Healthcare saw some chunky outflows with USD151 million out of US and USD20 million out of Europe.
Energy sector ETFs continue to garner interest seeing USD38 million of inflows this week led by US and Global prints. Real Estate ETFs struggled with USD66 million of outflows across the board and a total of USD265 million of outflows for the month.
Turning to fixed income, SPDR reports that fixed income has been having a decent run with USD748 million of flows in this week and USD2.3 billion this month. This is the largest volume seen since November 2017.
Europe led the flows last week with USD404 million in this week and over USD1 billion for the month. Government debt took in USD2.6 billion of inflows in the last month vs USD480 million of outflows for corporate debt.
SPDR reports that within the corporate debt space high yield took in USD220 million in last month and Inv.Grade lost USD673 million. Money market ETFs have been gathering assets, with last week seeing USD134 million in inflows.
Emerging Market debt had a fairly solid week with USD158 million in after March saw over USD500 million in outflows. EM equities continue their asset gathering run with USD316 million in last week and a USD1.8 billion inflow month.
Finally, SPDR comments that precious metals had a huge week with USD587 million in as Gold demand took off. SPDR concludes: “A USD1.38 billion trailing month!”