Canadian ETFs Pause
After a record-breaking month of inflows in December 2022, Canadian ETFs took a pause and bled $342 million in January, says National Bank Financial. The redemptions came as markets surged. The S&P 500 gained more than six per cent in January, the Nasdaq was up almost 11 per cent and the S&P TSX composite was up about seven per cent. Equity ETFs lost $328 million in January, while $501 million was withdrawn from fixed income funds in a rare month of redemptions for both asset classes. Last year, June was the only negative month for ETF flows.