"Value" Funds See Big Inflow, Oil Continues To Bleed - ETF Winners And Losers: Mid-Cap Flows
Portfolio Pulse from Johnny Rice
Mid-cap ETFs with AUM between $2 billion and $10 billion were screened for weekly performance. iShares S&P Mid-Cap 400 Value ETF (IJJ) and Vanguard S&P 500 Value ETF (VOOV) saw significant inflows, while Materials Select Sector SPDR Fund (XLB) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP) experienced notable outflows. IJJ and VOOV are positioned as 'value' funds, with IJJ holding Jabil Inc. (JBL) and Equity LifeStyle Properties, Inc. (ELS) as its largest holdings, and VOOV holding Microsoft Corporation (MSFT) and Meta Platforms Inc. (META). XLB's largest holdings include Linde plc. (LIN) and Sherwin-Williams Company (SHW), while XOP's include Phillips 66 (PSX) and Chord Energy Corporation (CHRD).
December 18, 2023 | 10:32 pm
News sentiment analysis
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POSITIVE IMPACT
Vanguard S&P 500 Value ETF (VOOV) added $1.15 billion in AUM over the past week and increased by $1.47 billion YTD, reflecting strong investor interest.
VOOV's significant AUM increase both weekly and YTD suggests a positive short-term impact as investors are drawn to 'value' characteristics in large-cap companies.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
iShares S&P Mid-Cap 400 Value ETF (IJJ) saw a loss of $1.60 billion in net assets over the past week but added $634.84 million YTD, indicating mixed investor sentiment.
Despite the weekly outflow, IJJ's positive YTD asset growth suggests a neutral short-term impact as investors may still see value in mid-cap 'value' stocks.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Materials Select Sector SPDR Fund (XLB) experienced a loss of $442.92 million in net assets over the past week and $583.65 million YTD, indicating bearish sentiment.
The substantial outflows from XLB both weekly and YTD suggest a negative short-term impact, as investors may be moving away from the materials sector.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
SPDR S&P Oil & Gas Exploration & Production ETF (XOP) saw a reduction of $275.11 million in AUM over the past week and $1.43 billion YTD, reflecting negative investor sentiment.
XOP's significant AUM decrease both on a weekly basis and YTD indicates a negative short-term impact, likely due to investor concerns over the oil and gas exploration sector.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85