Moment of Truth: $3.2B Floods into THRO as Dow Plunges
Market Volatility Triggers $3.2 Billion Inflows into iShares U.S. Thematic Rotation Active ETF (THRO)
In a significant development on Wednesday, the iShares U.S. Thematic Rotation Active ETF (THRO) attracted an enormous influx of investor funds worth $3.2 billion, propelling its total assets to a staggering $3.8 billion, as revealed by FactSet data. This substantial inflow occurred amidst a backdrop of market turmoil, with the Dow Jones Industrial Average plummeting 817 points due to growing concerns over rising Treasury yields and escalating deficit spending.
Despite the markets experiencing a downturn, several ETFs demonstrated resilience in attracting investor capital. The SPDR S&P 500 ETF Trust (SPY) successfully garnered $2.1 billion despite the S&P 500’s 1.6% decline. Meanwhile, the iShares 10-20 Year Treasury Bond ETF (TLH) pulled in an impressive $917.2 million as the 30-year Treasury yield reached its highest level since October 2023.
The iShares 0-5 Year TIPS Bond ETF (STIP) recorded inflows of $553.1 million, but it was a different story for some prominent ETFs that experienced significant outflows due to market conditions. The iShares Core S&P 500 ETF (IVV) faced outflows of $6.3 billion, while the iShares U.S. Technology ETF (IYW) and the iShares S&P 500 Growth ETF (IVW) saw outflows of $406.1 million and $822.6 million respectively.
The U.S. fixed-income ETFs managed to collect $1.1 billion in inflows, whereas international equity ETFs attracted a substantial $1.4 billion. In total, the ETF market saw gains of $2.6 billion as investors worried that a looming budget bill would exacerbate the federal deficit and further elevate Treasury yields.
Top 10 Creations (All ETFs)
| Ticker | Name | Net Flows ($mm) | AUM ($milion) | AUM % Change |
| — | — | — | — | — |
| THRO | iShares U.S. Thematic Rotation Active ETF | $3,189.66 | $6,825.95 | 83.37% |
| SPY | SPDR S&P 500 ETF Trust | $2,074.59 | 70,793.66 | 0.34% |
| OEF | iShares S&P 100 ETF | $1,052.76 | 18,920.81 | 5.56% |
| TLH | iShares 10-20 Year Treasury Bond ETF | $917.22 | 10,730.49 | 8.55% |
| EFV | iShares MSCI EAFE Value ETF | $911.68 | 22,893.37 | 3.98% |
Top 10 Redemptions (All ETFs)
| Ticker | Name | Net Flows ($million) | AUM ($mmillion) | AUM % Change |
| — | — | — | — | — |
| IVV | iShares Core S&P 500 ETF | -$6,283.48 | $85,965.66 | -1.07% |
| HEFA | iShares Currency Hedged MSCI EAFE ETF | -$1,065.60 | $6,840.25 | -15.58% |
| IVW | iShares S&P 500 Growth ETF | -$822.59 | $55,982.61 | -1.47% |
| PJUN | Innovator U.S. Equity Power Buffer ETF – June | -$619.01 | $1,190.01 | -100.00% |
ETF Daily Flows by Asset Class
| Flows ($mm) | AUM ($million) | % of AUM |
| — | — | — |
| Alternatives | $1.49 billion | $9,987.54 million | 0.15%
| Asset Allocation | $1.62 billion | $24,681.63 million | 0.07%
