Funds Suffer Overall Net Outflows

ETFs

ETFs had overall net outflows of $1.9 billion for the fund-flows trading week which were driven by equity ETFs (-$3.0 billion). The largest individual net negative flows among equity ETFs belonged to iShares Core S&P 500 ETF (IVV) and the SPDR Select Financial ETF (XLF), which saw $2.8 billion and $590 million leave. Taxable bond ETFs (+$983 million) and municipal bond ETFs (+$136 million) both took in net new money on the week. The most significant positive net flows for each of those two groups were attributable to SPDR Bloomberg Barclays High Yield Bond ETF (JNK) and the iShares Short Term National Muni Bond ETF (SUB) at $527 million and $37 million, respectively.

Fixed Income Mutual Funds

Municipal debt funds (+$1.4 billion) took in net new money for the fiftieth straight week, while taxable bond funds had $5.3 billion leave their coffers, which broke a run of 10 consecutive net inflows. The largest net inflows among the tax-exempt peer groups belonged to General Muni Debt Funds (+$530 million), High Yield Muni Debt Funds (+$399 million), and Intermediate Muni Debt Funds (+$271 million). On the taxable bond fund side of things, the Core Plus Bond Funds (-$1.5 billion) peer group had the largest individual net outflow.

Money Market Mutual Funds

Money market funds suffered net outflows of $30.9 billion for the fund-flows trading week. These net negative flows were driven by the Institutional U.S. Government Money Market Funds (-$22.4 billion) and Institutional Money Market Funds (-$8.2 billion) peer groups.

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