A U.S. Internet ETF sees largest outflows among Thematic ETFs in 2021

First Trust Dow Jones Internet Index Fund (FDN), Bitcoin Tracker Euro ETC and Amplify Online Retail ETF (IBUY) witnessed the largest net outflows this year among Thematic ETFs, giving up -$1.76 billion, -$655 million and -$587 million of investors' money respectively. 

Topping the list, the First Trust Down Jones Internet Index Fund is a multibillion-dollar fund that tracks the Dow Jones Internet Composite Index, a float-adjusted market capitalization weighted index designed to capture the largest and most actively traded stocks of U.S. companies in the Internet industry. Year-to-date, FDN gained 7%, but widely underperformed the broader U.S. market (S&P 500, +24%). FDN's exodus is baffling considering that Chinese peer KraneShares CSI China Internet ETF (KWEB) attracted the most inflows this year among Thematic ETFs ($7.8 billion), despite a -48% dip in performance this year.  

For interested European investors, FDN exists in European form called the First Trust Dow Jones Internet UCITS ETF. It has a total expense ratio of 0.55% and trades on the London Stock Exchange and Euronext Amsterdam.

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