Apple Takes a $4 Billion Bite Out of ETFs as Smart-Beta Shines
Apple gave a nice boost to several ETFs on the way up. Now feeling the pain on the way down.
Apple's Slide Takes a $2 Billion Bite Out of ETFs
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There aren't too many things worse for ETFs than a rotten Apple.
When Apple has a bad run, it is devastating to many ETF investors. In the past two weeks, Apple has basically erased more than $4 billion in ETF assets during its 16.3 percent decline that was triggered by a disappointing earnings report. It gave the SPDR S&P 500 ETF Trust (SPY) a $1 billion haircut in a matter of days, not to mention wiping out hundreds of millions of dollars out of several other popular ETFs as seen in the table below which sorts ETFs by the size of Apple’s bite.