QQQ - Investors redeem capital from the fund market for the first week in three
2023-08-04 09:46:42 ET
Wall Street investors found themselves to be overall net redeemers of fund assets which included both exchange traded funds and conventional funds for the first week in three, as they retracted $6.5B from the marketplace.
Taxable bond funds were the only area that saw net positive inflows as they garnered injections of $1B. At the same time, money market funds watched $990M exit the door, equity funds took back $1.9B, and taxable bond funds suffered outflows of $4.6B on the week.
Equity-based exchange traded funds were able to pull in $2.2B in weekly inflows, with the two largest attractors being the iShares Core S&P Mid-Cap ( IJH ) and the iShares Core S&P 500 ( NYSEARCA: IVV ). IJH took in $2.3B and IVV brought in $1.8B.
On the other side, the exchange traded funds that observed the largest outflows were the Invesco QQQ Trust 1 ( NASDAQ: QQQ ) and the JPMorgan: Beta Builders Europe ( BBEU ). QQQ took back $3B while BBEU lost $1.5B.
From a fixed income vantage point, the segment noticed $2.5B in weekly outflows which were led by the iShares: iBoxx $ Investment Grade Corporates ETF ( NYSEARCA: LQD ) which lost $1B and the iShares: iBoxx $ High Yield Corporates ETF ( NYSEARCA: HYG ) which suffered losses of $705M.
In reverse, the JPMorgan: USD Emerging Markets Sovereign Bond Fund ( JPMB ) noticed the largest influx of capital at $300M. Following behind JPMB was the JPMorgan: Limited Duration Bond ETF ( JPLD ) at $286M.
All ETF fund flow data is per the latest Refinitiv Lipper fund flow report .
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Investors redeem capital from the fund market for the first week in three