Home > 2013 ETF Recap For First Quarter
Print

2013 ETF Recap For First Quarter

April 3rd, 2013

etfsMichael Cafiero – Vice President ETF Trading – Knight Capital Americas, L.P.

Knight ETF Trading: Rounding out the Q1 of 2013 we saw a record quarter in terms of net inflows into ETFs. Equity linked ETFs were very strong as were flows into dividend income funds and minimum volatility funds. Despite the continued news pouring out of the Eurozone and more recently Cypress the markets remained resilient as we wrapped up the first quarter. The DJIA finished the quarters with an 11.6% gain while the Nasdaq Composite rose 9.1% and S&P gained 10.8%

Flows: For the month of March Knight ETF Trading had accounted for 14.25% of advertised ETF block shares traded trading in 1,449 unique ETFs. (Autex Block Data 4/2/13)

Have you ever wondered how billionaires continue to get RICHER, while the rest of the world is struggling?


"I study billionaires for a living. To be more specific, I study how these investors generate such huge and consistent profits in the stock markets -- year-in and year-out."

CLICK HERE to get your Free E-Book, “The Little Black Book Of Billionaires Secrets”

US Equity ETFs: Equity linked ETF flows continued to be robust as we moved through March. SPY(SPDR S&P 500 ETF TRUST), IVV (ISHARES CORE S&P 500 ETF), and VOO(VANGUARD S&P 500 ETF) all saw net inflows for the last month. Some notable selling has been seen in Midcap funds including IJH (ISHARES CORE S&P MIDCAP ETF) and MDY (SPDR S&P MIDCAP 400 ETF TRST) over the month. Growth funds including VUG (Vanguard Growth ETF), and IWO (ISHARES RUSSELL 2000 GROWTH) both saw a significant imbalance from the buy side.

Fixed Income ETFs: Overall selling for the month in treasury funds highlighted by MINT (PIMCO ENHANCED SHORT MATURIT), BSV (VANGUARD SHORT-TERM BOND ETF), and BIL (SPDR BARCLAYS 1-3 MONTH T-BI). High Yield funds continued to see inflows specifically in SJNK (SPDR BARCLAYS SHORT-TERM HIG), BSJG(GUGGENHEIM BULLETSHARES 2016), HYS(PIMCO 0-5 YEAR H/Y CORP BOND), and JNK (SPDR BARCLAYS HIGH YIELD BD).Corporate Bond ETFs saw steady inflows; specifically LQD (ISHARES IBOXX INV GR CORP BD), VCIT (VANGUARD INT-TERM CORPORATE), and VCSH (VANGUARD S/T CORP BOND ETF).  Floating Rate funds saw continued inflows specifically in FLOT (ISHARES FLOATING RATE NOTE), and FLRN (SPDR BARCLAYS INVESTMENT GRA). Rounding out fixed income; flows remain strong into BKLN (POWERSHARES SENIOR LOAN), and shorter duration TIPS including  VTP(VANGUARD SHORT-TERM TIPS) and TDTT (FLEXSHARES IBOXX 3-YEAR TARG).

International ETFs: Broad international inflows for the month headed into EEM (ISHARES MSCI EMERGING MKT IN), EEMV (ISHARES MSCI EMERG MKT MIN VOL), EWX (SPDR S&P EMERGING MKTS SMALL), VEA (VANGUARD MSCI EAFE ETF), and VPL (VANGUARD FTSE PACIFIC ETF). Broad outflows for the month included DGS (WISDOMTREE EM SMALL CAP), and ACWX (ISHARES MSCI ACWI EX US INDX).  For individual countries we saw inflows into EWL (ISHARES MSCI SWITZERLAND CAP), EWG (ISHARES MSCI GERMANY INDEX), EWY (ISHARES MSCI SOUTH KOREA CAP), DXJ (WISDOMTREE JAPAN HEDGED EQ), EWA (ISHARES MSCI AUSTRALIA INDEX), and FXI (ISHARES FTSE CHINA 25 INDEX).  Sellers were seen in INDA (ISHARES MSCI INDIA INDEX FND), EWP (ISHARES MSCI SPAIN CAPPED IN), and EWS (ISHARES MSCI SINGAPORE).

Commodity ETFs/ETNs: Gold linked funds saw their share of sellers for the Month of March. IAU (ISHARES GOLD TRUST), GLD (SPDR GOLD TRUST), and GDX (MARKET VECTORS GOLD MINERS) all saw pressure from sellers in the last 30 days.

Sector ETFs: For sector funds we saw money rotate into XLU (UTILITIES SELECT SECTOR SPDR), XLP (CONSUMER STAPLES SPDR), FXG (FIRST TRUST CONSUMER STAPLES), and IYC (ISHARES DJ US CNSMER SERVICE). Selling was seen in XLF(FINANCIAL SELECT SECTOR SPDR), XRT (SPDR S&P RETAIL ETF),and IYM (ISHARES DJ US BASIC MATERIAL).

Alternative/Specialty ETFs:  The yield oriented funds continue to garner assets. Some notable names over the last month include, MDIV (FT NASDAQ US MA DIVERS INC), VIG (VANGUARD DIVIDEND APPREC ETF), DVY (ISHARES DJ SELECT DIVIDEND), and SDY (SPDR S&P DIVIDEND ETF). Demand was seen for Agriculture linked funds including MOO (MARKET VECTORS AGRIBUSINESS) as well as natural resources as seen in GUNR (FLEXSHARES GLOBAL UPSTREAM N).

You may reach Michael directly at mcafiero@knight.com

This communication has been prepared by the trading, market making and/or the sales personnel (“Trader”) of Knight Capital Americas, L.P. (“KCA”), a subsidiary of Knight Capital Group, Inc. (“Knight”). The information contained herein may be the personal perspective of the Knight Trader and/or commentary compiled from public sources. The information from public sources is believed to be reliable but Knight does not guarantee or represent its accuracy or completeness. The opinions and views expressed by the individual trader do not represent the opinions and views of Knight, its affiliates, officers or other personnel. No responsibility and no express or limited liability is assumed jointly or individually for any losses or damages arising out of errors, omissions, delays in the receipt of the information, or any actions taken in reliance upon the information. The information contained herein does not provide investment advice and is not a sufficient basis for an investment decision. No information contained herein should be construed as a solicitation or an offer to buy or sell any security or product. Indications of interest, opinions or views expressed by the trader are not firm orders or quotes and may not be current. No responsibility is assumed to maintain and/or update the information. KCA most likely makes a market in the securities mentioned in this document and its personnel, including those involved in the preparation or issuance of the material may take a position or action which may be inconsistent with the opinions and views expressed therein. Questions regarding the information presented herein or a request for a copy of this document should be referred to your Knight Representative.

Knight Capital Group, Inc. (“Knight”) is comprised of trading and related entities under common control such as Knight Capital Americas, L.P., Knight Capital Europe Limited (a U.K. registered broker-dealer), Knight Capital Asia Limited (a Hong Kong registered broker-dealer), Hotspot FX LLC and Knight Execution and Clearing Services LLC.

This article is brought to you courtesy of ETF Radar.


ETF BASIC NEWS


 

Tags:

Facebook Comments

Comments



  1. No comments yet.
  1. No trackbacks yet.




Copyright 2009-2014 WBC Media, LLC