Year-to-date, the SPDR Gold Shares (NYSEArca: GLD) and the Market Vectors Gold Miners ETF (NYSEArca: GDX) have hauled in almost $1.2 billion in new assets combined. February was the first month in 13 of positive inflows for gold ETFs.[Mining ETFs Thwart Physical Gold, Silver Rivals]
While flows to bond ETFs can be seen as a sign of limited risk appetite, flows to sector funds tell a different story. The Consumer Staples Select Sector SPDR (NYSEArca: XLP) has been hit by outflows, but the Health Care Select Sector SPDR (NYSEArca: XLV) and rival health care funds have ably gained new assets.
Overall, health care ETFs have brought in $1.8 billion combined this year, the same amount as energy funds. Materials ETFs have seen almost $770 million of inflows, according to ConvergEx data. [An Oil ETF With Big Upside]
Health Care Select Sector SPDR
Tom Lydon’s clients own shares of BSV, GLD and LQD.