real-time news and commentary for investors
Friday, Aug 30
Worst money flows for ETFs in more than 3 years
- Barring a massive move today, U.S. ETFs are poised to lose more about $16B in August, according to data from BlackRock, the worst for the industry since January 2010.
- Hardest hit is industry giant, State Street's (STT) SPDR S&P 500 ETF Trust (SPY), which shed about $13B (a bit less than 10% of AUM). Indexing took a hit, but stock-picking is a different story. Stock mutual funds saw $10.8B in inflows this month.
- Outflows from fixed income funds have been well-documented and it looks like they'll sum to about $6.8B for ETFs.