XLK and IYW are not the only Apple ETFs that have been recently bleeding assets. TheVanguard Information Technology ETF (NYSEArca: VGT), which had a 16.8% Apple weight at the end of March, has seen April outflows of almost $44.1 million. VGT is up 7.8% over the past 90 days.
This is not the first time flows data has suggested ETF investors are missing out on Apple’s rally and broader tech sector strength. As highlighted by the roughly $14 billion that has been pulled from QQQ since the start of last year and outflows from the aforementioned tech sector ETFs since the start of this year, investors have not been lured to Apple ETFs simply because those funds feature large weights to that beloved stock. [Apple’s Rise Doesn’t Lure Investors to Apple ETFs]
Up 8.4% over the past three months, QQQ has a 14.4% weight to Apple, nearly double its 7.5% weight to Microsoft.
Technology Select Sector SPDR Fund
Tom Lydon’s clients own shares of Apple and QQQ.