Investors reacted to the recent market downturn by pulling cash from ETFs tracking stocks and high-yield bonds, according to the latest flow data.
Equity ETFs saw outflows of $1.7 billion for the week ended Nov. 14 amid worries over the U.S. fiscal cliff, tax increases and spending cuts, Reuters reports.
The withdrawals from stock ETFs follow inflows of $4 billion the previous week, which was the most in seven weeks.
Bond ETFs had outflows of $789 million, reversing inflows of $1.7 billion the previous week and the most taken out of the funds since early September, Reuters said.
Within fixed-income, funds and ETFs that invest in high-yield bonds saw outflows of $1.3 billion in the latest week, Barron’s reports.