likely to invest in ETFs. Unexpected hedge fund inflows [outflows] cause a rise [reduction] in ETF investments, and the … hedge fund flows are statistically unrelated to ETF investments on average. When ETF investment is accompanied by an … increase in unexpected flow, hedge fund alphas are higher. When ETF investment is accompanied by an increase in expected flow …

likely to invest in ETFs. Unexpected hedge fund inflows cause a rise in ETF investments, and the economic significance of … unexpected flow is more than twice as large for transient than quasi-indexer hedge funds. ETF investment is in general associated … with lower hedge fund performance. But when ETF investment is accompanied by an increase in total flow and unexpected flow …

(existence of deviations between prices and the Net Asset Value) and persistence. We find that ETF do not always outperform index … persistence, the study reveals that the analyzed ETF is priced at a low average discount with evidence of deviations persistence … of at least two days. The investment schemes with the highest ability to track the PSI 20 Index were PSI20 (ETF), BBVA …