First Trust Dow Jones Internet Index Fund (FDN), Bitcoin Tracker Euro ETC and Amplify Online Retail ETF (IBUY) recorded the strongest net outflows this year among thematic ETFs, dropping – 1.76 billion, – 655 million and – respectively. $ 587 million in investor money.
Topping the list, the First Trust Down Jones Internet Index Fund is a multi-billion dollar fund that tracks the Dow Jones Internet Composite Index, a free float-adjusted market capitalization-weighted index designed to capture the largest stocks and most actively traded of US companies in the Internet industry. Since the start of the year, FDN has gained 7%, but has largely underperformed the wider US market (S&P 500, + 24%). The FDN exodus is puzzling considering that its Chinese counterpart KraneShares CSI China Internet ETF (KWEB) attracted the highest number of entries this year among thematic ETFs ($ 7.8 billion), despite a -48% drop in performance this year.
For interested European investors, FDN exists in a European form called the First Trust Dow Jones Internet UCITS ETF (also FDN). It has a total expense ratio of 0.55% and trades on the London Stock Exchange and Euronext Amsterdam.
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