U.S. high yield bond funds recorded an outflow of $1.8 billion in the week ended June 15, according to the weekly reporters only to Lipper. This is the largest redemption in five weeks, and it wipes out the inflow of $892 million from the two prior weeks.

The influence of ETFs was heavy, at 87% of the sum. In contrast, last week’s inflow of $748 million was just 29% related to ETFs.

Whatever that might say about fast money, hedging strategies, and other market-timing efforts, this week’s net infusion drags the trailing four-week average down into the red, at negative $368 million, from positive $366 million last week.

The year-to-date total infusion contracts a bit to $5.6 billion, with 8% ETF-related. Last year at this point, after 24 weeks, the $3.6 billion net inflow was inverse 10% ETF-related.

The change due to market conditions this past week was negative $2 billion, or roughly 1% against total assets of $190.3 billion at the end of the observation period. The ETFs account for about 20% of the total, at $37.3 billion.

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