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Investors Dump ‘Dead Weight’ Cash-Like ETFs at Record Pace

  • SHV posts 14 straight weeks of outflows in longest streak ever
  • Cash is coming off the sidelines amid appetite for risk assets
Updated on

Investors are abandoning cash holdings at a record clip as momentum continues to build behind 2020’s risk rally.

Roughly $5.4 billion has exited from the $20 billion iShares Short Treasury Bond exchange-traded fund -- the biggest ultra-short duration ETF -- over 14 consecutive weeks of outflows. That was the longest streak on record for the product, whose ticker is SHV. Meanwhile, investors have pulled $2.4 billion from the $14 billion SPDR Bloomberg Barclays 1-3 Month T-Bill ETF (BIL) over 10 weeks, according to Bloomberg Intelligence data.