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Today's Chart of the Day is from Morningstar, and shows that, during 2022, Exchange Traded Funds (aka ETFs) took in an impressive $500 billion in assets, while mutual funds lost a record $1,000 billion. Though mutual funds have been losing assets to ETFs since 2015 for various reasons we have explored in previous Charts of the Day, why the dramatic downturn in 2022?
One of the main reasons was the 20% decline in market values, and since 94% of all mutual funds lost money last year, it was a good opportunity to sell and make the switch to ETFs to avoid capital gain taxes.
