As global markets plunged deeper into a correction, investors exited stock exchange traded funds for the third straight week.
According to EPFR data, U.S. stock funds experienced $4.2 billion in withdrawals for the week ended January 20, which added to the worst three-week period of outflows since April, Reports Eric Platt for the Financial Times.
According to Markit data, global stock ETFs saw more than $7.77 billion in outflows year-to-date while bond ETFs attracted $8.46 billion in net inflows.
Among the least loved ETFs so far this year, the SPDR S&P 500 ETF (NYSEArca: SPY) saw $4.1 billion in outflows, iShares Russell 2000 ETF (NYSEArca: IWM) saw $2.1 billion in redemptions, PowerShares QQQ (NasdaqGM: QQQ) lost $2.0 billion, iShares MSCI Emerging Markets ETF (NYSEArca: EEM) shrunk by $1.3 billion and Technology Select Sector SPDR (NYSEArca: XLK) saw $1.1 billion in outflows, according to ETF.com.
On the other hand, investors piled into ETFs that track more conservative bonds and other safe-haven assets. For instance, year-to-date, the iShares Short Treasury Bond ETF (NYSEArca: SHV) attracted $2.0 billion in net inflows, iShares 20+ Year Treasury Bond ETF (NYSEArca: TLT) brought in $1.4 billion, iShares 7-10 Year Treasury Bond ETF (NYSEArca: IEF) added $1.1 billion, SPDR Gold Shares (NYSEArca: GLD) saw $704.7 million in inflows and Utilities Select Sector SPDR (NYSEArca: XLU) experienced $542.5 million in inflows.
Funds that track U.S. government paper saw the most inflows, with Treasury funds attracting $2.5 billion of inflows in the past week, their largest weekly influx in almost 10 months, according to Lipper data.