5 ETFs That Saw Maximum Capital Inflows Last Week

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U.S. stocks gained last week on the prospect of a sustained rebound in the world’s largest economy that outweighed inflation worries. The blue-chip Dow Jones and the S&P 500 broke their two-week losing streak, jumping 0.9% and 1.2%, respectively, while the tech-heavy Nasdaq Composite Index rose 2.1%, marking the best weekly performance since Apr 9.

The gains were driven by a massive budget as President Biden unveiled his $6 trillion budget proposal. The proposal would invest heavily in Biden's top priority areas such as infrastructure, education, research, public health, paid family leave, and childcare. It includes the American Jobs Plan and the American Families Plan, the $4 trillion infrastructure, jobs, and economic proposal that the President had previously laid out and is negotiating with lawmakers. The budges also outlines additional funds to launch a new health research agency to focus on diseases like cancer, and funds to address gun violence, tackle the climate crisis, help end homelessness, and curb the opioid epidemic.

Meanwhile, the core personal consumption expenditures index increased by 3.1% in April from a year ago - the highest reading since 1992 and is sharply higher than the March reading of 1.9%.

The main attraction of the last week is also the European market. The MSCI Europe Index hit a record high last week, surpassing the previous peaks from the years 2000 and 2007. Economic confidence across the Eurozone has hit a three-year high, per the latest data, as optimism over the economic recovery rises.

Given this, overall ETFs gathered about $24.1 billion capital last week, bringing in year-to-date inflows of $393.5 billion, more than double the $137.9 billion seen in the year-ago period. U.S. equity ETFs led the way higher last week with $11.1 billion inflows, closely followed by $5 billion in international equity ETFs and $4 billion in U.S. fixed income, per etf.com.

As such, a few ETFs garnered solid investor interest last week and will continue to be their darlings should the current market trends prevail. Below we have highlighted five of them:

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Disclosure: Zacks.com contains statements and statistics that have been obtained from sources believed to be reliable but are not guaranteed as to accuracy or completeness. References to any ...

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