Voting with their Feet

There has been so much talk recently about market levels, potential bubbles and Fed stimulus that it can be hard to maintain a handle on where the markets may be heading.  To gain a beneficial perspective, we like to understand where the overall investors’ feet are placing their bets – that is, to and from where within the world of Exchange-Traded-Products has the capital been flowing recently?

Let’s start with the ETFG Fund Flows Summary for the last three months by Geographic Region.  The most visible trend occurs right here in our backyard with a massive outflow in the month of October of almost $5B flowing out of North America.  On the Sector side, the outflow from Healthcare was also very significant during October at $1.2B.

Fund Flows for individual ETPs are available on the Fund Flows tab of each ETFG Tearsheet.  For a summary view of the overall marketplace including the Top Inflows and Top Outflows for various time intervals, please see the ETFG Fund Flows Summary.

Top Fives:  The Top five Inflows and Outflows over the last few months can also provide some insight as to where investors see the markets heading.  In the case of the below, it seems very interesting that SPY was the biggest loser and GLD the biggest gainer of Fund Flows during the last 3 months.

Top 5 Outflows for the last 3 months:

Ticker	$ Flow	% Flow	AUM
SPY	$-16.20B	-9.13%	$161.17B
USO	$-6.86B	-89.64%	$792.79M
VWO	$-2.96B	-5.50%	$50.94B
IEI	$-2.36B	-47.47%	$2.62B
DIA	$-1.99B	-14.64%	$11.60B

Top 5 inflows for the last 3 months: 

Ticker	$ Flow	% Flow	AUM
GLD	$2.11B	6.20%	$36.10B
IJH	$1.77B	8.87%	$21.67B
VGK	$1.60B	15.27%	$12.08B
SLV	$1.48B	26.86%	$7.01B
EZU	$947.60M	16.78%	$6.59B

There is much learn from these Fund Flow trends, please be sure to spend a minute on both the ETFG Fund Flows Summary as well as the Fund Flows tab on any ETFG Tearsheet.

Thank you for reading ETFG Daily Perspectives.