Investors Pour Into Long Bonds Even as They Sell Off
Sumit RoyTue, August 18, 2026 at 12:00 AM GMT+3 3 min read
Investors added more than $38 billion to US-listed ETFs during the week ending Friday, Aug. 14, pushing year-to-date inflows to around $1.3 trillion.
US equity ETFs took in roughly half the total at about $20 billion. US fixed income followed with $7 billion, and international equity ETFs added $6.5 billion.
At the individual fund level, the Invesco QQQ Trust (QQQ) led with $5.6 billion in inflows, followed closely by the iShares 20+ Year Treasury Bond ETF (TLT) with $5.3 billion.
Long-dated Treasuries continued to sell off last week, with the 30-year yield recently hitting a 19-year high above 5.3%, its highest level since 2007.
Rather than flee, some investors appear to have treated the selloff as a buying opportunity, stepping into TLT even as its price fell. The fund is down about 2.4% this year on a total-return basis, counting both price and yield.
But while investors poured into TLT, they dumped the iShares 7-10 Year Treasury Bond ETF (IEF). Outflows for that fund totaled about $4 billion, the week's largest.
The rise in yields has not been uniform across maturities. While the 30-year yield keeps setting fresh multiyear highs, the 10-year yield has yet to surpass its 2023 peak and was last trading around 4.7%.
Semiconductors also featured among the outflows. The iShares Semiconductor ETF (SOXX) and the Direxion Daily Semiconductor Bull 3X Shares (SOXL) both landed on the top redemptions list.
For a full list of last week's top inflows and outflows, see the tables below.
Top 10 Creations (All ETFs)
Ticker
Name
Net Flows ($, mm)
AUM ($, mm)
AUM % Change<
iShares 20+ Year Treasury Bond ETF
Vanguard Total Stock Market ETF
iShares 0-3 Month Treasury Bond ETF
iShares U.S. Equity Factor Rotation Active ETF
Top 10 Redemptions (All ETFs)
Ticker
Name
Net Flows ($, mm)
AUM ($, mm)
AUM % Change
iShares 7-10 Year Treasury Bond ETF
-3,996.01
-9.27
-2,135.29
-0.24
-1,416.22
-3.26
SPDR Dow Jones Industrial Average ETF Trust
-1,159.02
-2.47
Financial Select Sector SPDR Fund
-606.17
-1.04
Technology Select Sector SPDR Fund
-571.43
-0.46
Direxion Daily Semiconductor Bull 3x Shares
-483.02
-1.99
SPDR Bloomberg High Yield Bond ETF
-478.38
-7.08
-424.53
-5.21
Industrial Select Sector SPDR Fund
-351.86
-1.02
ETF Weekly Flows By Asset Class
Net Flows ($, mm)
AUM ($, mm)
% of AUM
Alternatives
0.07%
Asset Allocation
0.53%
Commodities E T Fs
0.51%
Currency
-193.16
-0.20%
International Equity
0.22%
International Fixed Income
0.69%
Inverse
5.58%
Leveraged
-571.72
-0.30%
Us Equity
0.20%
Us Fixed Income
0.32%
Total:
0.23%
Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.
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