Mid-Cap Monday: ETF Fund Flows

The markets saw some green Monday after First Citizens Bank & Trust Co FCNCO agreed to buy most of Silicon Valley Bank.

The S&P 500 was up 0.29%, the Dow Jones Industrial Average gained 0.7%, while the NASDAQ Composite dropped 0.49% on the day.

ETF Fund Flows

We performed a screening of mid-cap ETFs - defined as having Assets Under Management (AUM) between $2 and $10 billion - to determine what funds gained and lost the most net assets over the last week, according to data from etfdb.com. Only non-leveraged funds were considered. 

Winner

Invesco NASDAQ 100 ETF QQQM

As of monday, QQQM added $530.81 million in net assets over the course of the last week, bringing its total AUM to just shy of $8.46 billion.

The fund invests at least 90% of its assets in the securities that make up the NASDAQ 100 index. The NASDAQ 100 is made up of 101 securities issued by the largest non-financial companies listed on the NASDAQ.

QQQM is very closely related to its big brother, QQQ, one of the largest and oldest ETFs in existence. QQQM has lower management fees and is a fraction of the price of QQQ, making it the preferred choice for many with less capital.

QQQM is up 16.97% YTD.

Loser

iShares MSCI USA Momentum Factor ETF MTUM

As of monday, MTUM lost $1.33 billion in net assets on the week. It’s total AUM now sits $9.55 billion.

MTUM tracks an index of large-cap US stocks that show positive price momentum. The fund is diversified across sectors.

It’s largest holdings are Eli Lilly and Company LLY and Exxon Mobil Corporation XOM, which combined make up over 10% of the funds holdings.

YTD, MTUM is down 7.11%.