After stellar inflows in June, one of the biggest real estate ETFs is coming back to earth fast.
Investors pulled a net $295.7 million from the iShares U.S Real Estate exchange-traded fund (ticker IYR) in the latest session, according to data compiled by Bloomberg. That means almost $2.1 billion has now exited the ETF in six days.
It’s a stunning reversal for the fund, which enjoyed big inflows throughout most of June that took assets to a record $7.6 billion. That’s now down 28% to below $5.5 billion.
The outflows coincide with nerves elsewhere in the market. Treasury yields have been falling and more cyclically oriented stocks struggling as investors adjust their expectations for the economic rebound from the pandemic.
IYR remains up more than 21% this year, compared with about 15% for the S&P 500 Index.
Read more: Traders Pull $1.1 Billion From Real Estate ETF in Three Days
Following are the fund’s biggest holdings as of July 7:
| Name | Ticker | Position | Value (USD) | Change in Position | % of Total Asset Value |
|---|---|---|---|---|---|
| American Tower Corp. | AMT US Equity | 1.78 million | 493.7 million | -96,045 | 9 |
| Prologis Inc. | PLD US Equity | 2.89 million | 355.8 million | -156,294 | 6.5 |
| Crown Castle International Cor | CCI US Equity | 1.69 million | 339 million | -91,314 | 6.2 |
| Equinix Inc. | EQIX US Equity | 304,839 | 252.5 million | -16,473 | 4.6 |
| Public Storage | PSA US Equity | 600,255 | 184.4 million | -32,433 | 3.4 |
| Digital Realty Trust Inc. | DLR US Equity | 1.11 million | 171.6 million | -60,021 | 3.1 |
| Simon Property Group Inc. | SPG US Equity | 1.3 million | 162 million | -70,053 | 3 |
| SBA Communications Corp. | SBAC US Equity | 431,070 | 141.8 million | -23,313 | 2.6 |
| Welltower Inc. | WELL US Equity | 1.65 million | 139.7 million | -89,034 | 2.6 |
| CoStar Group Inc. | CSGP US Equity | 1.56 million | 132.5 million | -84,189 | 2.4 |
If you would like to use Bloomberg’s ETF screening applications, click here or type ETF <GO>. To explore Bloomberg’s ETF Excel library, click on XLTP XETFM <GO>. You can find the Bloomberg Intelligence ETF Dashboard by going to BI ETFS <GO>.
These alerts are triggered for any U.S. exchange-traded fund that meets the following criteria (all numbers in US$). In some cases these updates may include portfolio rebalances:
| Assets under management | Daily Flow |
|---|---|
| >10bn | >1bn |
| >1bn | >100m |
| >500mln | >50m |
| >250mln | >25m |
| >100mln | >10m |
| <100mln | >5m |
This story was produced with the assistance of Bloomberg Automation.