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Big Outflows Continue To Hit Japan-Focused Funds

Analyst Paul Weisbruch of Street One Financial brings us his daily fund flows update, which today looks at major outflows in U.S. large cap equity funds following yesterday’s sharp pullback, dip buying in small caps, and a continued flight from Japanese ETFs.

Assets are leaving SPY quickly in the midst of this sharp and sudden sell-off, and with uncertainty on Capitol Hill in terms of the potential failure to pass the Trump Healthcare bill, and the end of the 1st quarter looming for portfolio managers, quite frankly this is not terribly surprising. SPY has seen over $5.7 billion vacate this week via redemptions, while QQQ has followed suit with more than $1.25 billion out early this week.

Surprisingly, IWM (iShares Russell 2000) has managed to attract new assets on the latest dip in equities, but how long with this last is the question (over $1.5 billion in via creations lately)?

Furthermore, we mentioned selling in Japan equities that has occurred lately in yesterday’s piece, and DBJP (Deutsche MSCI Japan Hedged Equity) which was one of our mentions, quickly caught up with EWJ (iShares MSCI Japan) in seeing assets fly out the door early this week (-$400 million as compared to EWJ’s more than $600 million out).

The iShares MSCI Japan ETF (NYSE:EWJ) was trading at $51.42 per share on Wednesday morning, down $0.02 (-0.04%). Year-to-date, EWJ has gained 5.24%, versus a 4.81% rise in the benchmark S&P 500 index during the same period.

EWJ currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 77 ETFs in the Asia Pacific Equities Ex-China ETFs category.

Disclaimer: The content of this article is excerpted from a daily newsletter from Street One Financial. While ETF Daily News may edit the contents and add a relevant title to the piece, the author, Paul Weisbruch, does not endorse or recommend any issuer or security mentioned herein.

About the Author: Paul Weisbruch

paul-weisbruchPaul Weisbruch is the VP of ETF/Options Sales and Trading at Street One Financial. Prior to joining the team at Street One, Paul served as the Director of RIA and Institutional ETF Sales at RevenueShares ETFs from December 2007 until November of 2009. Before RevenueShares, Paul was employed by Susquehanna International Group from 2000 until 2007 serving in roles including OTC/NYSE Institutional Block Trading, Nasdaq/OTC Market Making, ETF/Derivatives Intelligence and Strategy, Algorithmic Trading, as well as acting as the PHLX Floor Specialist in the ETFs, SPY and DIA.Paul has been actively involved in the ETF space from both a product and trading standpoint since 2000. Additionally, Paul has well forged relationships with national RIAs, institutional pension fund managers and consultants, mutual fund and hedge fund managers, and also the ETF media. Co-authoring the “S1F ETF Daily” since 2009, the daily piece has become a must for many portfolio managers in the ETF space, with segments regularly appearing in the likes of Barron’s, WSJ, and for instance.

He holds his Series 4 (Registered Options Principal), 6, 7, 55 (Equity Trader), 63, and 65 licenses. He graduated from the University of Pittsburgh (B.S. – Economics), graduating magna cum laude, and has an MBA from Villanova University.

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