Investors abandoned junk bond ETFs in March

Fixed income exchange-traded funds witnessed huge outflows in March as the coronavirus crisis raged, with those carrying European high-yield debt suffering the most, data from the European Securities and Markets Authority (Esma) shows.

From February 19 to March 23, cumulative outflows from EU high-yield bond ETFs totalled 36% of net asset values. Outflows from US high-yield ETFs equalled 15% of NAV, and from EU and US corporate investment-grade funds 11% and 5%, respectively.

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