Traders Ditching Mutual Funds Stoke ETF Assets to a Record
- U.S. holdings reach $4.66 trillion, topping February’s high
- Vanguard’s VOO, State Street’s GLD lead inflows year-to-date
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Assets in U.S. exchange-traded funds have climbed to a record, bouncing back from a sharp drop in the first half of the year as investors abandon mutual funds for securities they perceive as cheaper and easier to trade.
Holdings across all categories reached $4.66 trillion Tuesday, according to data compiled by Bloomberg. The previous high occurred Feb. 19, before the coronavirus pandemic sent global markets swooning.