The latest head fake in the rotation trade left exchange-traded fund investors flat-flooted.
News of a potential coronavirus vaccine breakthrough sent a combined $1.8 billion into the iShares Russell 2000 ETF (ticker IWM) at the start of the week, with Tuesday’s $1.55 billion haul clocking in as the fund’s biggest inflow since 2018, according to Bloomberg data. Then over $1 billion exited IWM over the following two days as U.S. cases spiked and fears of further restrictions grew.
