FYI: Money flows in exchange-traded funds this year look counterintuitive given that the S&P 500 is hovering at an all-time high: we’ve seen an exodus from stocks, and rushes into bonds and commodities.
Nicholas Colas, chief market strategist at ConvergEx, breaks down the trends in Tuesday report titled: “3 Big Surprises about ETF Money Flows in 2015.” Some $23.9 billion has come into the roughly $2 trillion ETF market so far in 2015. He notes that much of the selling in equities is in the $194 billion SPDR S&P 500 (SPY), which can be a result of market noise including portfolio hedging and isn’t always the best proxy for long-only investor behavior. Colas also notes what this blog pointed out earlier this month: energy ETFs have been a major focus of buying:
Regards,
Ted
http://blogs.barrons.com/focusonfunds/2015/02/24/three-surprises-in-etf-money-flows-in-2015/tab/print/
