Taxable fixed income ETFs just had their best week in more than five years, helping drive industry inflows up by 65 percent, according to the latest data from the LSEG Lipper team.

Jack Fischer LSEG Lipper Senior Research Analyst

In the U.S. Weekly FundFlows Insight report for the week ending May 8, 2024 (i.e. last Wednesday), Jack Fischer, senior research analyst at LSEG Lipper, confirms that $36.4 billion net flowed into mutual funds and ETFs in the U.S. last week. It was the industry's third consecutive inflows week, up by $14.4 billion over the prior week. Long-term (i.e. non-money-market) funds brought in $11.9 billion in net inflows last week, a $16.1-billion week-over-week improvement.

Money market funds led the pack, bringing in $24.5 billion in net inflows last week, their third week of inflows in a row, down by $2 billion W/W. Other inflows winning categories last week included: taxable fixed income funds, $8.1 billion in net inflows (an $8.353-billion W/W improvement); equity funds, $3.6 billion in net inflows (a $7.8-billion W/W improvement); municipal bond funds, $1.1 billion in net inflows (up by $585 million W/W); alternatives funds, $384 million in net inflows (a $404-million W/W improvement); and commodities funds, $81 million in net inflows (down by $133 million W/W).

On the flip side, mixed-assets funds suffered $290 million in net outflows last week. That's down by $154 million W/W.

Equity ETFs brought in $6 billion in net inflows last week. It was their tenth week of inflows in eleven weeks, up W/W by $5.088 billion.

Last week's biggest equity ETF winner, for the second week in a row, was BlackRock's iShares Core S&P 500 ETF (IVV). The brought in $1.9 billion in net inflows last week, up by $200 million W/W.

Conventional (i.e. non-ETF) equity funds suffered $3.3 billion in net outflows last week. It was their 117th consecutive week of outflows, down by $1.8 billion W/W.

Taxable fixed income ETFs brought in $9.4 billion in net inflows last week. It was their largest weekly inflows since January 2019 and their seventh week of inflows in ten weeks, and it was an $11.5-billion W/W improvement.

Last week's biggest taxable fixed income ETF winner was BlackRock's iShares Core U.S. Aggregate Bond ETF (AGG). The fund bought in $798 million in net inflows.

Spot bitcoin ETPs (which the LSEG Lipper team categorizes as "alternative currency strategies ETFs," under the broad "taxable fixed income ETFs" label) brought in $81 million in net inflows last week after suffering their first ever outflows week. Since debuting earlier this year, spot bitcoin ETPs have brought in $11 billion in net inflows.

Conventional taxable fixed income funds suffered $1.4 billion in net outflows last week. It was their fourth week of outflows in five weeks and a $3.2-billion drop W/W from net inflows.

Muni bond ETFs brought in $922 million in net inflows last week. It was their largest weekly inflows year-to-date and their third week of inflows in a row, up by $833 million W/W.

Conventional muni bond funds brought in $133 million in net inflows last week. It was their second week running of inflows, down by $293 million W/W. 

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