ETF Daily Fund Outflow Report

Date: August 12, 2025
Headline: Growth and Sector ETFs Face Outflows as Investors Reassess Portfolios

Market Overview
Today’s fund flows reflect a broad rotation away from growth-oriented and sector-specific ETFs, with significant outflows across equity-focused products. The top 10 ETFs by net outflow include leveraged tech vehicles, healthcare, industrials, and even silver, suggesting a potential shift in risk appetite or sector rebalancing. While year-to-date (YTD) performance varies, several high-performing funds—such as the 30.69%-rallying silver ETF (SLV) and leveraged tech play TQQQ—experienced outflows, possibly indicating profit-taking or a reassessment of crowded trades. The data does not immediately point to a macro trigger, though the magnitude of outflows from large-cap benchmarks like SPY and QQQ underscores caution among institutional or retail investors.

ETF Highlights
The Invesco QQQ Trust (QQQ), tracking the Nasdaq-100, led outflows with a $2.79B net exit, despite a 13.46% YTD gain and $363.7B in assets under management (AUM). Its size and focus on growth tech may make it a target for rebalancing amid shifting risk preferences. Similarly, the ProShares UltraPro QQQ (TQQQ)—a 3x leveraged version—saw $484.5M outflow, even as it surged 19.7% YTD. The move could signal reduced aggressive positioning in a sector that has dominated 2025.

The Invesco BuyBack Achievers ETF (PKW), focused on companies with strong buyback programs, lost $443.8M, despite a 10.95% YTD return. Its smaller $1.36B AUM may amplify sensitivity to tactical shifts. Meanwhile, the SPDR S&P 500 ETF Trust (SPY), a broad-market proxy, faced $316M in outflows, despite a 9.66% YTD rise and $652.1B AUM, hinting at a possible rotation into international or value-oriented assets.

Sector-specific outflows included the Health Care Select Sector SPDR Fund (XLV), down 4.64% YTD, and the Industrial Select Sector SPDR Fund (XLI), up 15.29% YTD. XLV’s outflow may reflect underperformance concerns, while XLI’s exit could indicate profit-taking after a strong rally. The iShares Silver Trust (SLV), up 30.7% YTD, also saw $149.9M outflow, potentially signaling a pause in the commodities rally.

Notable Trends
The largest outflows clustered in high-conviction trades—leveraged tech, silver, and industrials—suggest investors may be scaling back on recent winners. The contrast between SLV’s strong YTD performance and its outflow is particularly striking, as is the exit from XLV despite its large AUM. These moves could foreshadow a broader rotation into defensive or undervalued sectors, though the data does not confirm such a shift.

Conclusion
Today’s outflows highlight a potential recalibration of risk exposure, particularly in crowded growth and commodity plays. While equity ETFs dominate the outflow list, the diversity of affected sectors—from tech to healthcare—makes a singular narrative less clear. Over the week, persistent exits from large-cap and leveraged products may signal a broader cooling of aggressive positioning, though further data would be needed to confirm a sustained trend. Investors appear to be reassessing near-term opportunities, with a cautious eye on overextended positions.