The SPDR S&P 500 ETF Trust, the world’s largest exchange-traded fund by AUM, experienced a net inflow of $16.7 billion in the final week of June. However, overall for the month of June, the fund saw an outflow of $9.6 billion. The fund ended the month with a 3.53% increase, reaching approximately $544.22, with around $541 billion in assets under management.
In June, 3 out of 4 weeks saw outflows from the SPY fund. Last week, 5 out of 11 S&P 500 ETFs recorded outflows. The Technology Select Sector SPDR Fund (XLK) had the highest outflow of approximately $8.6 billion, mainly due to rebalancing. The Communications Services Select Sector SPDR Fund (XLC) followed with an outflow of around $653.8 million. On the other hand, the Financial Select Sector SPDR Fund (XLF) received the highest inflow of $845.3 million, with the Utilities Select Sector SPDR Fund (XLU) receiving $330.1 million in inflows.
For the month of June, the utilities fund (XLU) and the financial fund (XLF) saw the highest inflows, with approximately $780 million and $597 million, respectively. Utilities saw inflows for 3 out of 4 weeks in June, while Financials only saw inflows in the final week. The highest outflows in June were recorded in the Consumer Discretionary Select Sector SPDR Fund (XLY) and the Industrial Select Sector SPDR Fund (XLI).
This week’s top funds in terms of inflows, Utilities (XLU) and Financials (XLF), received a Quant rating of Sell and Buy with scores of 2.46 and 3.93, respectively.