watch nowDespite a sluggish start to the year, a record number of product launches and a red-hot November have put 2023 back on pace to be a solid year for ETFs.
Roughly $1 trillion has gone into money market funds this year, but some are questioning whether the solid year-end stock rally will attract some of those flows back into equities.
"You saw that enormous cash pileup going into money markets, and ETF flows were muted.
"We talked about the money market funds," he said.
He pointed to strong inflows into high-yield ETFs such as the iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and SPDR Bloomberg High Yield Bond ETF (JNK) and SPDR Bloomberg Short Term High Yield Bond ETF (SJNK) — along with dividend ETFs such as the Pacer U.S. Cash Cows 100 ETF (COWZ).
Persons:
Ben Slavin, BNY Mellon, CNBC's, Andrew McOrmond, McOrmond, it'll, SPDR, Slavin
Organizations:
BNY, WallachBeth, SPDR Bloomberg, Pacer, Cash, Tech, RSP
Locations:
outflows