ESG Bleedout

What's amazing about BlackRock's monster $5b trade out of $ESGU and into $QUAL is that it is 100x(!) the avg daily volume for $ESGU. Score one for ETF implied liquidity, which is crazy abundant in $ESGU which is full of large US stocks.. via ETFL<GO> pic.twitter.com/OzrdgmFHF1

— Eric Balchunas (@EricBalchunas) March 21, 2023

Wow, another $1b came out of $ESGU yesterday and went into $QUAL, that makes a $5b-ish single trade, which pretty sure is largest ever in ETF history and it may not even be over yet. pic.twitter.com/tX00KPj6lq

— Eric Balchunas (@EricBalchunas) March 21, 2023

The bomb out of $ESGU on Friday is a big blow to the ESG ETF Category in that it really adds to the ongoing reversal in flows, which tends to go hand in hand with narrative pic.twitter.com/O8PO7HUMFL

— Eric Balchunas (@EricBalchunas) March 20, 2023