Outflows were dominated by broad market cap-weighted index ETFs (of almost $800m) while sector ETFs dropped $180m including a first outflow this year for energy, perhaps as crude oil prices eased on recession and demand concerns.
There were inflows for dividend and low-volatility ETFs.
Bonds gain
While equities were being offloaded, cautious investors favoured fixed income ETFs to the tune of $1.7 billion net inflows.
As for the previous month, it was Canadian government bond and cash alternative/high interest savings that saw the largest inflows. Meanwhile, there were outflows for sub-investment grade bond and preferred share ETFs.
There were also net gains for multi-asset ($306m), inverse/levered ($136m) ETFs. Crypto-asset ($198m) ETFs also posted gains following the previous month’s losses.
