The two top funds showed the only real skew and those redemptions were in Energy (XLE) and the iShares MSCI Japan
* iShares MSCI Japan
ETF (EWJ) - $22 billion / $2.4 billion
MSCI Inc., a leading provider of portfolio construction and risk management tools for global investors, announced that BlackRock has licensed the MSCI Nihonkabu (Japan ex- REITs) Minimum Volatility (JPY) Index and the MSCI Japan High Dividend Yield Index as the basis for two iShares exchange traded funds (ETFs) to be listed on the Tokyo Stock Exchange: iShares MSCI Japan
Minimum Volatility (ex-REITs) ETF, iShares MSCI Japan
High Dividend Yield ETF.
There are no less than 10 ETFs that track Japanese stocks--from broad-based funds such as the iShares MSCI Japan
Index fund (EWJ) to specialized funds like the WisdomTree Japan SmallCap Dividend Fund (DFJ)--and six focused on China, including funds targeting Chinese small cap stocks and the real estate sector (F)a, EWH, GXC, PGJ, HAO, FCHI).
On the redemptions side the single largest block of outflows was from Developed Country foreign funds at over 39% of the total, including the iShares MSCI Eurozone ETF (EZU), iShares MSCI United Kingdom ETF (EWU), iShares MSCI Pacific ex-Japan (EPP), and iShares MSCI Japan
The iShares MSCI Japan
ETF (EWJ) saw trading volume of 162 million shares, or four times its daily trading average of about 40 million shares, Zacks said.
Foreign funds were the second largest group for a third week running, including the Vanguard FTSE Emerging Markets ETF (VWO), iShares Core MSCI EAFE ETF (IEFA), iShares MSCI Emerging Markets ETF (EEM), and iShares MSCI Japan
Unleveraged funds like the iShares FTSE China 25 ETF (FXI) and iShares MSCI Japan
ETF (EWJ) have also scored decent gains ranging from 3.5% to 5.5%.