trending Market Intelligence /marketintelligence/en/news-insights/trending/y9iDgWfUfAlycUQQd5RHqA2 content esgSubNav
In This List

Largest financial ETF saw massive outflows in December 2018

Blog

Banking Essentials Newsletter: September Edition, Part - 2

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage

Video

S&P Capital IQ Pro | Powering Your Edge

Podcast

Street Talk Episode 81: Amid strong recovery, Banc of California hearing more M&A chatter


Largest financial ETF saw massive outflows in December 2018

Investors stampeded out of the largest U.S. financial exchange-traded fund in December 2018.

SSgA Funds Management Inc.'s Financial Select Sector SPDR Fund (XLF) had $3.23 billion in net client outflows last month, $1.19 billion more than any other U.S. ETF.

"Investors increasingly had recessionary fears and pulled money out of economically sensitive areas of the stock market," Todd Rosenbluth, director of ETF and mutual fund research at CFRA, said in an email.

For full year 2018, XLF's net client outflows were $5.36 billion, the fifth highest across the ETF space. XLF ended the year with $22.64 billion of assets under management.

Each of the top 20 holdings of XLF experienced a negative price change in December. Citigroup Inc. was the bottom market performer, with its stock sliding 19.6%. The shares of CME Group Inc. and Chubb Ltd. held up the best, down just 1.0% and 3.4%, respectively.

SNL Image

SNL Image

Did you enjoy this analysis? Click here to set up real-time alerts for data-driven articles on the U.S. financial sector.