Reported 1 day ago
State Street Corp. has experienced a significant decline in net flows into its equity exchange-traded funds (ETFs), reporting just $1 billion in the first quarter, down from $65 billion the previous quarter. This steep drop is attributed to $20.1 billion withdrawn from its flagship SPDR S&P 500 ETF Trust (SPY), as investors shifted their preferences to the Vanguard S&P 500 ETF (VOO). While fixed-income and alternative investments yielded positive flows, they were not enough to offset the equity ETFs' losses, indicating a downturn in the overall U.S. ETF market amidst economic uncertainties.
Source: YAHOO