One Invesco ETF's $270 Million Pain Is Another Invesco ETF's Gain
- S&P 500-focused fund loses out to emerging markets, data show
- Gradient Investments reallocated capital, person familiar says
This article is for subscribers only.
A bad day for one exchange-traded fund was a banner day for another as about $270 million moved between two Invesco Ltd. products this week.
The PowerShares S&P 500 High Beta Portfolio ETF, which owns the stock of large companies deemed most sensitive to market fluctuations, lost almost half its assets on Monday, data compiled by Bloomberg show. That same day, a similar amount flowed into the PowerShares S&P Emerging Markets Momentum Portfolio, boosting its assets from less than $2 million, the data show.