From April 29 to May 31, spanning a five-week period, Canadian ETFs saw an inflow of $6.3 billion, according to Scotiabank. Equity ETFs saw another substantial inflow of around $4.4 billion in net creation, while inflows in fixed income declined compared to the previous month, accounting for $1.8 billion.
A major milestone occurred in the month of May where the Dow Jones Industrial Average touched the 40,000 mark for the first time in history. Consumer optimism on economic growth and recovery has helped fuel strong earnings from consumer discretionary stocks like Walmart, Amazon, and American Express.
The BlackRock’s iShares Core S&P/TSX Capped Composite ETF (XIC-T) experienced the largest inflows at $0.54 billion, followed by the Vanguard S&P 500 Index ETF (VFV-T) at $0.45 billion. In May, investors moved towards investments in the broad market indexes of both Canada and the U.S. Cash holdings declined in favour of equities. CI…
