Canadian ETF inflows in November posted their best month since March and their third highest of 2022, says National Bank of Canada’s monthly analysis of the market. It shows that net inflows totaled $4.2 billion, rising from $2.6 billion in October and bringing the year-to-date total to $28 billion. Fixed income ETFs remain dominant with $2.3 billion created last month with Canadian aggregate bonds back in favour and cash alternative ETFs maintained their popularity with a net $1.2 billion flows. Canadian investors’ preference for longer-duration fixed income ETFs continued as the U.S. and Canadian yield curves move to deep inversion. Equity ETFs net inflows of $1.6 billion were led by Canadian equity ETFs, up one per cent or $745 million. The only product group to suffer net outflows were crypto ETFs with a 1.3 per cent or $29 million pullback. The cryptocurrency market was rattled in November due to the collapse of the FTX exchange.
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