ETFs, or exchange-traded funds, took a massive beating last week as markets went on a roller-coaster ride with the Dow Jones Industrial Average taking not one but two massive nosedives, losing over 1,000 points twice in one week.
Mike Venuto, chairman of the TETF Index Committee, agrees saying that after a wild week, ETF assets are only down about $30 billion year-to-date, which is less than a 1% change.
“The assets have most likely flowed to cash, as a reaction to fear,” Venuto told FOX Business, adding that bonds have not been performing well either and are likely perpetuating the volatility.
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