“It’s a pretty benign event for the ETFs,” Ross explained.
Still, financial ETFs are lagging the market badly in 2011 on uninspiring loan growth and concerns over new regulations and tougher capital requirements for banks.
Financial Select Sector SPDR Fund has seen $367 million in inflows this year, while SPDR KBW Bank ETF has seen $283 million in outflows, according to State Street.
Financial Select Sector SPDR Fund
