Investors Put Record $86 Billion Into Stock ETFs in February
- Vaccine rollout, stimulus overshadow spike in Treasury yields
- Fixed-income funds take in least cash since March selloff
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When faced with a spike in Treasury yields and a tech sector pullback that erased $1 trillion from stock prices, exchange-traded fund investors decided to pour more money into equities.
Despite the recent turmoil in the bond market, the S&P 500 Index extended a rally from its March 2020 lows to more than 70% and ETFs tracking stocks notched their best month of inflows on record, according to data compiled by Bloomberg. Traders added almost $86 billion to those funds in February. Equities climbed Monday, led by companies tied to economic reopenings and faster growth.