Equity fund investors appear to be exiting from mutual funds and investing in ETFs instead. The ICI reported net redemptions of $64.673 billion for U.S. equity funds and $42.887 billion for all equity funds for the year to date.

At the same time, equity ETFs are booming. ETFs/ETPs saw net inflows of $130.766 billion for the year to date through July, and equity ETFs/ETPs gathered the largest net inflows with $75.852 billion, followed by fixed income ETFs/ETPs with $41.353 billion, according to London-based ETFGI.

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