April fund flows knocked the SPDR Gold ETF GLD -0.01% out of the No. 2 spot among the largest exchange-traded funds as investors pulled out $6.77 billion, according to IndexUniverse late Wednesday.
That 18.8% drop left the ETF with $50.92 billion in assets under management. Gold prices GCM3 +0.53% dropped 7.8% over the month of April to $1,472.10 an ounce.
It also made the new No. 2 ETF the Vanguard FTSE Emerging Markets ETF VWO -0.01% , which also happened to be the second biggest loser as far as fund outflows with $1.55 billion. The fund is currently at $57.69 billion in assets under management.
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View the original article: http://forexblog.oanda.com/20130501/emerging-market-taking-over-gold-as-2nd-largest-etf/
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