Canadian ETF flows were neutral in November, finds a report by National Bank’s Pat Chiefalo and research associates Daniel Straus and Ling Zhang.
The report finds, “Equity and fixed income flows were positive, up $178 million and $33 million, respectively. [But] inverse ETFs tipped the scales to the negative side, [down] $270 million.”
Throughout the month, “International equity and short-term bonds were in demand, while Canadian broad and sector equity was for sale.” Read more about Canadian ETF flows in November.
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November was more profitable for the U.S., says the report, where ETF flows rose US$12.8 billion. It adds, “Fixed income was flattish…[and] commodities continue to be sold as we see another US$1.5 billion, or 2%, of assets being withdrawn. Multi-assets have been on a winning streak,” however, since they’re up 2%.
Further, “the bull market sentiment was certainly captured by levered funds, with levered long assets up almost 1%…Inverse funds were down just below 1%.”
U.S. investors favoured funds tied to developed markets, both domestic and international, adds the report. Read more about U.S. ETF flows in November.
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