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ETF Investors Head For Safety

Canadian exchange-traded fund (ETF) investors headed for safety in July with a clear preference for fixed income over equities, says data from National Bank of Canada. It shows more than $1 billion was withdrawn from Canadian equity ETFs last month, with $190 million in outflows from U.S. equity funds. The overall equity ETF outflows were eased slightly by purchases of international equities ($481 million) which gave a net $717 million outflow for the overall equity category, although this was lower than the previous month. There were inflows for dividend and low-volatility ETFs. Investors favoured fixed income ETFs which had $1.7 billion in net inflows. Canadian government bond and cash alternative/high interest savings had the largest inflows. Meanwhile, there were outflows for sub-investment grade bond and preferred share ETFs.

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