Wednesday's ETF Winners And Losers: Small-Cap Fund Flows - PJUL Adds $268.7 Million In NAV, QQQE Adds $262.8 Million

We performed a screening of small-cap ETFs - defined as having Assets Under Management (AUM) between $400 million and $2 billion - to determine what funds had the largest change in net assets on the week, according to data from etfdb.com. Only non-leveraged funds were considered. 

Winners

Innovator U.S. Equity Power Buffer ETF - July PJUL

PJUL added $268.7 million in net assets over the trailing week.

The Innovator S&P 500 Power Buffer ETF seeks to track the return of the S&P 500 Price Return Index up to a predetermined cap, 14.28%, while buffering investors against the first 15% of losses over the outcome period. 

PJUL has $737.2 million in AUM and an expense ratio of 0.79%. 

PJUL has added $161.85 billion in net assets YTD.

Direxion NASDAQ-100 Equal Weighted Index Shares QQQE

QQQE added $262.82 million in net assets over the trailing week.

Direxion NASDAQ-100 Equal Weighted Index Shares is tied to the NASDAQ-100, much like QQQ, the uber-popular ETF from Invesco. However, they differ greatly in their weighting methodologies. In contrast to the more popular market cap weighting of QQQ which tends to lead to a top heavy concentration, QQQE is equally distributed amongst the 102 holdings.

QQQE has $1.01 billion in AUM and an expense ratio of 0.35%. The fund has holdings in 102 companies, with the 10 largest comprising 11.19% of the fund.

The fund’s largest holdings are Lucid Group, Inc. LCID and Sirius XM Holdings, Inc. SIRI making up 1.24% and 1.20% of the fund, respectively.

QQQE has added $467.96 million in net assets YTD.

Losers

The United States Oil Fund LP USO

USO has lost 116.47 million in net assets over the trailing week.

The US Oil Fund LP is tied to the daily changes of the Benchmark Oil Futures Contract. Its aim is to track within 10% the changes in NAV of Oil Futures.

The fund has $1.51 billion in AUM and an expense ratio of 0.81%.

LIT is down 422.21 million AUM YTD.

iShares Europe ETF IEV

IEV lost $110.89 million in net assets over the trailing week.

The iShares Europe ETF offers exposure to a broad swath of European securities. It is tied to the S&P Europe 500 Index.

IEV has $1.65 billion in AUM and an expense ratio of 0.58%. The fund has holdings in 365 companies, with the 10 largest comprising 22.75% of the fund.

The fund’s largest holdings are Nestle S.A. NESN and ASML Holding NV ASML making up 3.2% and 2.89% of the fund, respectively.

IEV has lost $145.02 million in net assets YTD.

Featured photo by Yiorgos Ntrahas on Unsplash