Exchange-traded fund investors just threw in the towel on a strategy that bets this year’s winners will keep on winning.
Almost $1.6 billion was withdrawn from momentum-focused ETFs in October, the most for any month on record, according to Bloomberg Intelligence data going back to 2012. The outflows were the biggest of any smart-beta segment last month, and marked a change of pace after two quarters of net inflows, the data showed.
