Investing
Robinhood Army Propels Thematic ETFs to a Record-Setting Year
- Funds taping pandemic trends help boost inflows to $20 billion
- Many funds are still ‘too new’ for pros’ due diligence: CFRA
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The Robinhood generation of day traders has famously driven scores of sharp stock moves this year, from high-flyers like Tesla Inc. to beaten-down companies such as Hertz Global Holdings Inc. Now, retail investors are propelling growth in a hot corner of the exchange-traded fund universe: Thematics.
ETFs built around a theme -- think telemedicine, gaming, even pet care -- are on pace for their best year of inflows ever, attracting more than $20 billion to date, including $2.5 billion in November alone, according to data compiled by Bloomberg.