USMV, ONEO: Big ETF Outflows
Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the iShares MSCI USA Min Vol Factor ETF, where 10,600,000 units were destroyed, or a 2.6% decrease week over week. Among the largest underlying components of USMV, in morning trading today Merck is up about 1.5%, and Cisco Systems is relatively unchanged.
And on a percentage change basis, the ETF with the biggest outflow was the SPDR Russell 1000 Momentum Focus ETF, which lost 800,000 of its units, representing a 25.0% decline in outstanding units compared to the week prior. Among the largest underlying components of ONEO, in morning trading today Steel Dynamics is off about 0.4%, and Nucor is higher by about 0.1%.
