Weekly inflows to investment-grade corporate bond funds were the highest in over two decades amid signs investors are moving away from junk debt following a strong run.

Investors put $2.4 billion into investment-grade corporate bond funds, the most on a record that spans nearly 21 years, Reuters reports. Of that total, $1.4 billion flowed to investment-grade corporate bond mutual funds, and the rest went into ETFs.

The iShares iBoxx Investment Grade Corporate Bond (NYSEArca: LQD) has seen inflows of $562.4 million over the past week and was the third-best selling fund among all ETFs, according to IndexUniverse data.

The iShares iBoxx High Yield Corporate Bond (NYSEArca: HYG) and SPDR Barclays Capital High Yield Bond (NYSEArca: JNK) have both seen outflows of more than $200 million since the end of September.

The recent buying patterns in investment-grade and high-yield ETFs suggest investors are moving into safer corporate bonds. [High-Yield ETFs: Rotation from Junk to Quality]

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