State Street ETFs See Mixed Flows as SPY Gains Inflows While XLK Sheds $603 Million

State Street's suite of SPDR ETFs recorded sharply divergent capital flows in the latest week, with the flagship S&P 500 ETF Trust (SPY) attracting approximately $11 billion in inflows, a 1.4% week-over-week increase in shares outstanding. Technology was the hardest-hit segment, with the Technology Select Sector SPDR ETF (XLK) shedding roughly $603.3 million, a 0.5% weekly decline. The Utilities Select Sector SPDR ETF (XLU) lost approximately $182.7 million, or about 0.8% of its asset base, while the Consumer Discretionary Select Sector SPDR ETF (XLY) saw outflows of around $133.8 million, with notable exposure to names including TJX, Starbucks, and Airbnb.

Against this backdrop, State Street Corp. stock itself underperformed its peers on Wednesday. Separately, analyst coverage highlighted the SPDR Portfolio Developed World ex-US ETF as a competitive international offering, matching Schwab's International Equity ETF at a 0.03% expense ratio, while the SPDR S&P Regional Banking ETF (KRE) was weighed against the iShares MSCI Europe Financials ETF (EUFN), with EUFN carrying a higher dividend yield but also a higher expense ratio than KRE.