Large Net Outflows Observed in Equity and Metals ETFs

Large Net Outflows Observed in Equity and Metals ETFs Date: 2026-01-18 The Weekly Report's Time Range: 1.12-1.16

Market Overview

Equity and commodity-related ETFs experienced significant net outflows during the reporting week, with several large-cap and sector-specific funds seeing declines in investor interest. Notable redemptions were observed in value, growth, and materials-focused strategies, while leveraged and small-cap ETFs also faced outflows. Conversely, some ETFs demonstrated strong performance metrics and large asset under management (AUM) figures despite outflows, suggesting mixed investor sentiment. This week’s outflows were concentrated across a range of themes, including broad equity exposure, silver-backed investments, and leveraged semiconductor strategies.

While the outflows highlight caution or strategic rebalancing, the performance trends suggest varied outcomes across different ETF categories. Investors appeared to shift capital away from some traditional equity and commodity exposures during the week, which may reflect tactical adjustments or risk management considerations.

ETF Highlights

IWD - iShares Russell 1000 Value ETF saw a net outflow of $-1.459B in the week, despite a 4.11% increase in its YTD performance and an AUM of $69.61B. The continued outflow may indicate a shift in investor preferences away from value-oriented strategies, even as the fund delivered positive returns.

CGDV - Capital Group Dividend Value ETF experienced a net outflow of $-1.096B, despite posting a 2.09% YTD gain and holding $27.97B in assets. The outflow may reflect strategic rebalancing or a broader shift in portfolio allocations away from dividend-focused value equities.

SOXL - Direxion Daily Semiconductor Bull 3X Shares saw a net outflow of $-963.208M. Despite the fund's 44.54% YTD gain and $13.30B AUM, the outflow might reflect risk mitigation in leveraged and volatile strategies, especially given its 3X daily structure.

IWF - iShares Russell 1000 Growth ETF had a net outflow of $-879.545M. The fund reported a modest YTD performance of -0.57% and an AUM of $122.21B. The outflow could indicate investor caution in growth-oriented strategies, despite the fund's size.

IWM - iShares Russell 2000 ETF saw a net outflow of $-836.305M. With a YTD gain of 7.96% and an AUM of $77.80B, the outflow may suggest tactical reallocation away from small-cap equities despite the fund's performance.

LQD - iShares iBoxx USD Investment Grade Corporate Bond ETF experienced a net outflow of $-763.225M. Despite a 0.34% increase in YTD performance and an AUM of $27.52B, the outflow may reflect shifting investor appetite for fixed-income exposures.

SLV - iShares Silver Trust recorded a net outflow of $-719.498M. The fund has a YTD gain of 25.77% and an AUM of $46.91B. The outflow could reflect investor positioning amid price gains or macroeconomic expectations tied to the metal.

VBK - Vanguard Small-Cap Growth ETF experienced a net outflow of $-706.749M. The fund reported a strong YTD gain of 7.58% and holds $21.52B in assets. The outflow might reflect a shift in strategy or risk management in favor of more defensive positions.

VTV - Vanguard Value ETF had a net outflow of $-705.807M, despite a 3.86% YTD performance and an AUM of $163.18B. The outflow could reflect broader market sentiment or a tactical reassessment of value-oriented investing.

VBR - Vanguard Small-Cap Value ETF recorded a net outflow of $-625.049M. The fund reported a 6.26% YTD gain and holds $33.59B in assets. The outflow may reflect investor reallocation or risk adjustment within the small-cap value segment.

Notable Trends / Surprises

The week's largest outflows occurred in ETFs with a clear equity and materials exposure, particularly those focused on value, growth, and leveraged sectors. The continued outflows in the iShares Russell 1000 Value ETF and Vanguard Value ETF, despite positive YTD performance, may suggest a trend of investor caution in value-based strategies. Meanwhile, leveraged products like SOXL and the silver-backed SLV saw redemptions despite strong performance, possibly indicating risk management in high-volatility segments. The consistent outflows across multiple large-cap and small-cap strategies may reflect a broader shift in investor behavior.

Conclusion

The week saw a broad pattern of outflows across equity and commodity ETFs, with particular emphasis on value, growth, and leveraged strategies. While several funds demonstrated strong performance, outflows may signal shifting investor preferences or portfolio rebalancing. The trends observed suggest a cautious stance in certain equity and materials exposures, but further data would be needed to identify the full scope of investor behavior or emerging themes in capital allocation.