North American stocks tracked by ETFs around the world may have gained inflows since the market dip earlier this year despite a chaotic White House and uncertain market policy, but returns remain lacklustre.
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The SPDR S&P 500 fund (SPY), from State Street Global Advisors, has reached the milestone 25 years after it first started trading. Its underlying index is the bellwether for the US economy, and has a high concentration in sectors like technology and financials.
As the Trump rally continues to widen the gap between US and ex-US valuations, ETF investors are flocking to cheaper exposures abroad.
Investors have started putting money into global equity ETFs again after months of outflows, according to the latest data on European ETFs provided by TrackInsight. Meanwhile, interest in US and Asian equity products seems to be waning as worries mount over the upcoming election in the US.