ETF Focus: Here’s why money is draining from the stock market’s biggest ETF

Are investors falling out of love with the market’s first and most widely used exchange-traded fund?

The SPDR S&P 500 ETF Trust SPY, +0.17% has seen massive outflows this year, while other S&P 500-tracking funds from other providers have seen a flurry of new investors, in some cases growing by about 10% in size.

Outflows have totaled $7.69 billion for the SPDR fund thus far this year, according to FactSet data, by far the most of any ETF. (In second place is the iShares Russell 2000 ETF IWM, +0.08% with $2.57 billion in outflows.) Among its peers, the Vanguard S&P 500 ETF VOO, +0.17% has had inflows of $8.69 billion, while the iShares Core S&P 500 ETF IVV, +0.15% had more than doubled that, with inflows of $17.78 billion, the most of any ETF this year.

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