US momentum ETFs ticked up in returns and flows in Q1-- organic growth rebounded to 11.5%--but returns have cooled so far in April. $SPMO $XMMO $JMOM led the way in flows, while category gorilla $MTUM placed 4th. Category (small c) assets increased by 31%.
US ETFs are on track to have a record month of inflows. In the 4 wks from Feb 29 thru Mar 20, they have $93 bil of inflows. The monthly record of $128 bil was just set in December.
Weekly US money market #flows were $16bn for the week ending Weds 7-Feb. Assets are at a record level, but as a proportion of long-term assets, their level is about normal. Source: Morningstar Direct.
Sure, there's a record $7.7 tril on the sidelines in global money market funds, but in proportion to long-term assets, it's about normal. See this and more in Morningstar's new global asset flows report for 2023.
https://t.co/Kg2fAZJAVM
Dollars continued to flow into US money-market funds, but last week's $42 bil paled versus the previous week's $72 bil. The 2-week total is significant, but not compared to the flight to safety at the beginning of the pandemic in Mar-Apr 2020.
Money on the sidelines? US money market assets are at a historically high level ($4.7 tril), but as a % of all L/T fund & ETF assets, it's just rising from 2017's low. The argument that there's a meaningful pool of $ poised to jump into risk assets doesn't hold by this metric.
Long-term US fund & ETF flows were +$15bn in the week ending Weds, led by US Equity with +$11bn. Money market funds attracted $18bn, about 2x the avg over the past 24 weeks. ETFs had +30bn.
@93XRT you've been laying on the Zeppelin & Floyd a little heavy lately. I thought, "At least they don't play Jethro Tull any more" Then you played JT. Please give us more new music. Been listening since '90.
We are excited to share plans to fully acquire @Sustainalytics and the prospect of putting sustainable investing analytics into the hands of investors worldwide. https://t.co/PtsthjWug7