ETF Winners And Losers: Small-Cap Fund Flows - Banking ETF Gains Over $400 Million While QQQE Loses Over $350 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

Invesco KBW Bank ETF KBWB

KBWB gained $411.89 million in net assets over the trailing week.

The Invesco KBW Bank ETF offers investors exposure to the US banking system. The fund is spread amongst large, medium, and small cap companies, mixing blue chip with smaller regional banks.

KBWB has $1.95 billion in AUM and an expense ratio of 0.35%. The fund has holdings in 26 companies, with the 10 largest comprising 62.20% of the fund.

The fund’s largest holdings are Bank of America Corp BAC and Morgan Stanley MS making up 8.06% and 8.04% of the fund, respectively.

KBWB has gained $507.55 million in net assets YTD.

BondBloxx Bloomberg One Year Target Duration US Treasury ETF XONE

XONE added $197.26 million in net assets over the trailing week.

The BondBloxx Bloomberg One Year Target Duration US Treasury ETF offers exposure to treasuries at the shorter end of the maturity spectrum, with an average maturity date of one year.

XONE has $521.2 million in AUM and an expense ratio of 0.03%. 

XONE has added $479.37 million in net assets YTD.

Losers

Direxion NASDAQ-100 Equal Weighted Index Shares QQQE

QQQE lost $351.16 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 $805.5 million in AUM and an expense ratio of 0.35%. The fund has holdings in 102 companies, with the 10 largest comprising 11.29% of the fund.

The fund’s largest holdings are Sirius XM Holdings, Inc. SIRI and Old Dominion Freight Line, Inc. ODFL making up 1.25% and 1.17% of the fund, respectively.

QQQE has added $234.72 million in net assets YTD.

iShares Fallen Angels USD Bond ETF FALN

FALN lost $262.93 million in net assets over the trailing week.

The iShares Fallen Angels USD Bond ETF offers exposure to high yield corporate bonds that have recently been downgraded from investment grade.

FALN has $1.44 billion in AUM and an expense ratio of 0.25%. 

FALN has lost $175.58 million in net assets YTD.

Featured photo by Dmitry Demidko on Unsplash