As I discussed here the herd in action running out of energing markets. And where were the inflows ? energy related etfs. Performance chasing herd in action. From index universe
Emerging Markets Exodus
The world’s two biggest emerging markets funds were at the top of IndexUniverse.com’s “Biggest Losers” list above, a reflection of uneasiness with developing-market investment that has been minimal in recent years.
VWO surpassed EEM as the world’s biggest emerging markets fund on Jan. 18, and the funds ended the month of February with assets of $43.02 billion and $36.65 billion, respectively.
SSgA’s SPDR S&P Emerging Markets Small Cap (NYSEArca: EWX) also got caught in the downdraft, suffering outflows of $486.3 million, or more than 40 percent of its assets.