Investors Exit ETFs as Commodities Seen Fading

Canadian investors are pulling money out of exchange-traded funds for a second year as concern grows that a rally in energy and mining that helped drive equities to the best performance among the world’s largest markets has run its course.

So far in 2014, investors have withdrawn $552 million from exchange-traded funds tracking Canadian shares, following an outflow of $1 billion last year, according to data compiled by Bloomberg. The benchmark Standard & Poor’s/TSX Composite Index is in its 10th month of gains, the longest winning streak since 1983, and has soared 20 percent in the past year. The gauge rose 0.2 percent to 14,557.27 at 10:55 a.m. in Toronto.