Billions Wiped Out as Stock-Safety Trade on Wall Street Misfires
- Dividend ETF flows near record lows following last year’s boom
- Safety trade has underperformed in 2023 as tech stocks rally
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Reeling from a bear market last year, beaten-up investors decided to send more than $60 billion to exchange-traded funds focusing on dividends.
Eleven months later, the trade is misfiring.