Chasers Gonna Chase

Eric Balchunas shares smart-beta flows since the election.

Not surprisingly, this lines up pretty well with how these different risk factors have performed over this time.


ETFs have given investors the perfect vehicle with which to chase performance. These billions of dollars are being driven by professional investors, I’d guess individual brokerage accounts are responsible for less than 10% of these flows. You can change the structure of the markets, but people will always be people.