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Record $23bn flees world's largest ETF

Record $23bn flees world's largest ETF

The SPDR S&P 500 exchange-traded fund (ETF) saw a record $23.6 billion in outflows last week as investors reacted to last week’s volatility.

According to Bloomberg, the outflows amounted to 8% of the fund’s total assets at the start of the week, February 5, a rate of withdrawals not seen since August 2010.

The fund, which celebrated its 25th birthday in late January, has recently reached over $302 billion and is the most traded security in the world with an average daily trading volume of $25 billion, according to a recent press release from State Street, which issues the fund.

However, Bloomberg reports that flow activity in similar S&P 500 ETFs were much more muted last week. The iShares Core S&P 500 ETF actually took in $634.5 million, while the Vanguard S&P 500 ETF saw only a modest $209 million exit the fund.

 

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