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5 Most-Loved ETFs of Last Week - Apple (NASDAQ:AAPL), iShares MSCI EAFE Growth ETF (BATS:EFG)

iconBenzinga

2024-06-11 23:39

Overall, ETFs pulled in $12.8 billion in capital last week, pushing the year-to-date inflows to $324.7 billion. U.S. fixed-income ETFs led the way higher with $8.3 billion in inflows, followed by inflows of $1.8 billion in international equity ETFs and $1.8 billion in currency ETFs.

  Overall, ETFs pulled in $12.8 billion in capital last week, pushing the year-to-date inflows to $324.7 billion. U.S. fixed-income ETFs led the way higher with $8.3 billion in inflows, followed by inflows of $1.8 billion in international equity ETFs and $1.8 billion in currency ETFs.

  Vanguard S&P 500 ETFVOO, iShares S&P 500 Growth ETFIVW, iShares Russell 2000 ETFIWM, Vanguard Total Stock Market ETFVTI and iShares MSCI EAFE Growth ETF EFG dominated the top creation list last week.

  Wall Street wrapped up the last week with gains. The tech-heavy Nasdaq Composite Index outperformed, advancing 2.4%, while the S&P 500 and Dow Jones Industrial Average booked gains of 1.3% and 0.3%, respectively. The gains were driven by the tech surge, especially NVIDIANVDA. The chipmaker surpassed AppleAAPL in terms of market cap and became the second-most valuable company in the United States.

  Rate cut bets ramped up last week following the weak data, which signaled a slowdown in the world's largest economy. U.S. manufacturing activity slowed for the second straight month in May, and U.S. construction spending fell unexpectedly for the second consecutive month in April on declines in non-residential activity.

  However, a stronger jobs report diminished rate cut bet hopes to end the week, leading to a spike in Treasury yields. U.S. job growth jumped in May and wage growth accelerated. The economy added 272,000 jobs in May, above the Bloomberg expectation of 185,000 jobs, reflecting continued strong hiring in a range of sectors.

  We have detailed the ETFs below:

  Vanguard S&P 500 ETF

  Vanguard S&P 500 ETF topped the asset flow creation last week, gathering $11.9 billion in capital. It tracks the S&P 500 Index and holds 504 stocks in its basket, each accounting for no more than 7% of the assets. Vanguard S&P 500 ETF is heavy on the information technology sector, while financials, healthcare and consumer discretionary round off the next three spots with a double-digit allocation each.

  Vanguard S&P 500 ETF charges investors 3 bps in annual fees and trades in an average daily volume of 4.4 million shares. It has AUM of $464 billion and a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook.

  iShares S&P 500 Growth ETF

  iShares S&P 500 Growth ETF has accumulated $3 billion in its asset base. It targets the growth segment of the S&P 500 Index by tracking the S&P 500 Growth Index. iShares S&P 500 Growth ETF holds 228 stocks in its basket, with key holdings in information technology, consumer discretionary and communication. iShares S&P 500 Growth ETF charges 18 bps in annual fees and has amassed $50 billion in its asset base. The fund trades in an average daily volume of 2 million shares and has a Zacks Rank #2 (Buy) with a Medium risk outlook.

  iShares Russell 2000 ETF

  iShares Russell 2000 ETF has accumulated $1.8 billion in its asset base. It is the largest and most popular ETF in the small-cap space, with an AUM of $60 billion and an average daily volume of 26 million shares. iShares Russell 2000 ETF holds well-diversified 1,937 stocks in its basket and has key holdings in industrials, financials, healthcare, information technology and consumer discretionary.

  iShares Russell 2000 ETF charges 19 bps in annual fees and has a Zacks ETF Rank #2 with a Medium risk outlook.

  Vanguard Total Stock Market ETF

  Vanguard Total Stock Market ETF gathered $1.5 billion in capital. It provides exposure to the broader stock market by tracking the CRSP US Total Market Index. Vanguard Total Stock Market ETF holds a large basket of well-diversified 3,719 stocks with key holdings in technology, consumer discretionary, industrials, healthcare and financials.

  Vanguard Total Stock Market ETF charges 3 bps in fees per year from investors and trades in an average daily volume of 3 million shares. VTI has amassed $401 billion in its asset base and has a Zacks ETF Rank #2 with a Medium risk outlook.

  iShares MSCI EAFE Growth ETF

  iShares MSCI EAFE Growth ETF has pulled in $1.4 billion in capital, taking its total AUM to $13.9 billion. It offers exposure to a broad range of companies in Europe, Australia, Asia, and the Far East whose earnings are expected to grow at an above-average rate relative to the market. iShares MSCI EAFE Growth ETF follows the MSCI EAFE Growth Index and holds 327 stocks in its basket. Japanese firms make up 22.1% of the portfolio, while France and the United Kingdom round off the next two spots with double-digit exposure each.

  iShares MSCI EAFE Growth ETF charges 36 bps in annual fees and trades in an average daily volume of 323,000 shares. It has a Zacks ETF Rank #3 (Hold) with a Low risk outlook.

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