ETFs : les dangers des ETFs et de la gestion passive

Nos voisins semblent impacter les ETFs! En partie a cause les plans d’épargne mensuelle en ETFs

Assets in German-listed active ETFs almost double year on year
Number of ETFs available on market has grown from 62 to 97 year on year
Lauren Gibbons
22 Oct 2024

German investors have poured assets into actively managed ETFs over the past year as active management proves to be a catalyst for the growth for the European market.

The interest rate environment had led to Amundi’s Lyxor Smart Overnight Return UCITS ETF (CSH2) being a popular choice among German investors after debuting in the region this year.

Out of 97 actively managed ETFs currently available in Germany, the market remains predominantly oriented toward equity products, with 52 equity ETFs compared to 34 bond ETFs, nine multi-asset funds, and two under non traditional categories.

Elsewhere, PIMCO’s range of actively managed fixed income products have previously been highlighted as a favourite among investors.

Ernst Knacke, head of research at Shard Capital said the PIMCO USD Short Maturity UCITS ETF (MINT) and the PIMCO Sterling Short Maturity UCITS ETF (QUID) are firm favourites due to mitigating liquidity risks which a passive strategy isn’t capable of doing.

More broadly, the German market has emerged as a key driver of retail adoption of ETFs, largely fueled by the growing popularity of ETF savings plans in the region.

Assets in German-listed active ETFs almost double year on year

Suite a la victoire des Républicains… on aura probablement une baisse (merci a Mimizoe!) de 0.25% cette semaine mais peut-etre pas en décembre !

Short-Term Treasury ETFs Attract Flows on Inflation Fears

Fixed-income investors are seeking high yields and low-interest-rate risk.

President-elect Donald Trump’s win was bullish for stocks and cryptocurrency but bearish for rate-sensitive fixed-income funds like the iShares 20+ Year Treasury Bond ETF (TLT), which had plunged nearly 3% on heavy trading volume Wednesday. 

The massive selloff for the long-term bond market proxy indicates investors fear a potential inflationary Trump term as tax stimulus and tariff plans threaten to raise prices on consumer goods.
Fixed-income investors had already begun to expect higher-for-longer rates and inflation prior to the election as funds like the SPDR Bloomberg 1-3 Month T-Bill ETF (BIL), which combines high yields and low interest rate sensitivity, led all bond ETFs with over $350 million of inflows Tuesday.
Fixed Income ETF Fund Flows: Nov. 5, 2024

How Tariffs Affect the Bond Market

Tariffs can significantly impact the bond market by influencing inflation expectations, interest rates, and investor sentiment. When tariffs increase prices on imports, they can lead to inflationary pressures. As inflation rises, the Federal Reserve may respond by pausing its rate cut cycle or by raising interest rates to prevent the economy from overheating. 
Higher interest rates generally cause bond prices to fall, as newly issued bonds offer higher yields than existing ones. This can decrease the value of bonds and bond ETFs in investors’ portfolios, particularly affecting long-term bonds and ETFs that are more sensitive to interest rate changes. 
Additionally, tariffs can introduce uncertainty into the market, which can reduce demand for riskier assets and push investors toward the relative safety of short-term government bonds or gold.

https://www.etf.com/sections/news/short … tion-fears

My 5 cents : on n’est pas sortis de l’auberge ! En vue : du YOYO !

Dernière modification par sissi (07/11/2024 23h33)