Data: ICI; Chart: Axios Visuals
Traders still don't trust the stock market's run and are moving money out of equities at a historic level, despite a 25% year-to-date gain for the S&P 500.
What's happening: Data from the Investment Company Institute shows money has been pulled out of equity mutual funds and ETFs in every month this year except January.
- In total, more than $130 billion has been drawn from equity funds in 2019, making it already the largest year of outflows on record.
- ICI's data on equity flows go back to 2010.
- The company's estimates for November show market participants also pulled money out of equity funds in every week, except one.
Similarly, a report from Refinitiv Lipper cited by WSJ shows the largest outflows in its history, which dates back to 1992.
The bottom line: "Analysts say the trend highlights investors’ apprehension toward a stock market buffeted by the long-running U.S.-China trade war and lingering worries about a potential recession," according to the WSJ.
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