There's outright feeding frenzy going on for value ETFs rn, which have taken in about $5b in past week (that's a good month) and $20b YTD (nearly an ann record 10wks in). All in all 80 value ETFs have taken in cash. Here's a look at where the money is going $EFV $VTV $VLUE $IWN
Interesting (and yet kinda predictable) most of the cash is going to the watered down value ETFs even tho the pure stuff is popping WAY MORE. Here's a look at the Top 4 Value ETFs in our "intensity rank" vs $IWD & $VTV which rank near bottom.
Gotta say our BI factor intensity rank f-ing nailed it. The YTD returns (prev tweet) exactly match the ranking (which was done ahead of time using combo of volatility, # of holdings and loading). Nice work @tpsarofagis
That said, if this value comeback is real and not the 28th head fake, then watch for one (maybe two) of those 4 ETFs above to be the next era's $ARKK. Calling it now.
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$SLV took in almost a BILLION dollars Friday, nearly double the old record for this 15-yr old ETF, after being targeted by WSB as way to go after the banks..
There were a record 299 ETFs launched this year in the US (1,042 globally) up from 219 last year. Here's a look at the Top 20 by assets, an interesting list w/ only two from Big Three issuers. Also, this is JPM's 3rd straight year on top.
Also notable this year was the lack $100m+ ETFs in the group. Only about 36. Last two years there were over 60 (despite less launches).
Also gotta give Global X credit for owning the theme space despite so many new competitors - some big guys too - as $EDOC was biggest theme launch on heels of $CLOU last year. They do this w out really budging on fees either.
Most of the ARK ETFs saw record flows last night. All told the ARK Fam took in about $1b based on Monday's $2b in volume, which means 50% of its volume was creates, wow. So lookout for another $1b+ in flows tonight based off Tue's $2.3b in volume (ARK reports shares T+1).
The 50% volume to flow ratio is even higher than I predicted but I will still take some credit for getting VERY close to nailing the flow amount.
ARK now 4th overall in 2020 flows (after Big Three) w/ decent shot to pass State Street by EOY given the building intensity of the inflows eg ARK ETFs took in more yesterday than all of 2019 as the mega volume is converting into mega flows. (note: there are over 100 ETF issuers)
Also don't be surprised if ARK sneaks past JPM and WisdomTree in total assets by EOY to nestle into the 9th spot overall (up from 28th spot to start year, an unprecedented jump). Here's the monthly assets, the firm has doubled aum in 10 weeks prob hit $40b by EOY.
Another look at ARK's asset growth shows a nearly 90 degree angle in 2020. I threw in Pimco (who is no slouch) for context.
NEXT LEVEL: $TSLA just obliterated the all-time volume record for an equity w/ $148b worth of shares traded today, beating $SPY's $118b high water mark set during March chaos. For perspective, $MSFT trades about $5b/day.
Another mind-melter: $TSLA traded more today than the next 25 most active stocks COMBINED. There's no way that's not a record.
One more: $TSLA's volume today was the equiv of Hungary's annual GDP.
HEADS UP: Check out BI's Financial Sector Outlook webinar today at 11am covering US and Europe ensemble-style feat myself & @tpsarofagis on ETFs/MFs as well as BI's banking, PE and ESG analysts. Sign up here: onlinexperiences.com/scripts/Server…
Here's one of the charts that will be in today's webinar that my colleague @AEWilliamsNYC upkeeps (that I'm jealous of) showing the relationship bt flows and asset growth via mkt returns both historically by fund type. Mind melting..
We have somewhat similar chart we'll be feat as well, albeit only flows and by year instead of decade. Takeaway for 2020: the trend remains strong except ETFs have had to carried all the passive weight this year thx to some internal migration at Vgrd, via @JSeyff