Clifford, Christopher P.; Fulkerson, Jon A.; Jordan, … - In: The Financial Review 49 (2014) 3, pp. 619-642
The value of exchange traded fund (ETF) assets has increased from $66 billion in 2000 to almost a trillion dollars in 2010. We use this massive expansion in ETF assets to study what drives ETF flows. Using a data set of over 500 ETFs from 2001 to 2010, we show that ETF investors chase returns in...
