ETFs & Mutual Funds
Vanguard’s EM Stocks ETF Sees Deepest Outflows Since Covid Panic
- Investors pull more than $2 billion over 10 days, data show
- Analysts continue to raise earnings estimates for EM companies
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Investors in US exchange-traded funds are pulling money out of emerging-market stocks, sending Vanguard Group’s $75 billion fund for the asset class into its longest streak of outflows since the pandemic selloff of 2020.
The Vanguard FTSE Emerging Markets ETF, whose biggest holding is chipmaker and artificial intelligence play Taiwan Semiconductor Manufacturing Co., saw net withdrawals for 10 straight days as of Wednesday. Investors yanked a total of $2.12 billion from the fund, often referred to by its ticker VWO. They also pulled capital out of BlackRock’s iShares funds that invest in EM equities.