FYI: Exchange-traded fund buyers are turning away from value stocks now that bank earnings season is underway.
Investors pulled $754 million from the $38 billion iShares Russell 1000 Value ETF, or IWD, last week, its largest weekly outflow in a year, data compiled by Bloomberg show. Almost 20 percent of the fund, which is the second largest tracking value stocks, is in banks and insurance, with another 5 percent dedicated to real estate investment trusts. That leaves it uniquely exposed to earnings surprises from financial firms as well as interest rate risks.
Regards,
Ted
https://www.fa-mag.com/news/value-etf-bleeds-cash-as-investors-prepare-for-bank-earnings-42750.html?print
