Equity-based funds posted their third consecutive quarter of positive returns during Q2 of 2023, as the funds together on average returned 4.3% to investors.
Over the course of Q2, exchange traded funds observed capital injections that totaled $78.1B. Breaking down the flows, $42.4B went into equity ETFs, which marked the segment’s twenty-ninth consecutive quarter of net inflows. At the same time, another $34.6B was pumped into taxable fixed income ETFs, which signified the area’s thirty-eighth straight quarter of positive flows.
On a sector-by-sector basis, the info tech and consumer services areas attracted the most significant amount of investor capital through Q2. Moreover, during the quarter, the two areas that were on the opposite side of the coin were alternative energy funds and utility funds, as the two segments experienced net quarterly outflows.
See below an outlined table showing the total quarterly returns by value, core, and growth funds across small-, mid-, and large-cap fund sizes for the quarter ending on June 30, 2023:
Equity funds were able to garner net new cash during Q2 as the broad market indices posted positive returns. Over the course of Q2, the Nasdaq Composite (COMP.IND) advanced 12.8%, the S&P 500 (SP500) gained 8.3%, the Russell 2000 (RTY) moved up 4.8%, and the Dow Jones Industrial Average (DJI) picked up 3.4%.
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