📍SPY & Q recognize -$64B outflow in 3 months

📌 This is the largest outflow recorded within a 90-day period. Marking a sharp reversal from +$50B inflow in November.
Based on AUM, the 3-month outflow reached -5%, the highest level since Q1/2023. The peak outflow by percentage in the decade was -8% in April/2018.
📌 This scale is nearly double the peak outflow decade (2018). Even COVID 2020 or the sell-off 03-04/2025 have never witnessed outflow levels this large, no such large capital withdrawal has occurred.
📌$SPY is an ETF that tracks the S&P 500 index (500 largest U.S. companies) while $Q - is an ETF tracking the Nasdaq 100, focused on the technology and growth sector.
Capital flows are retreating to the sidelines, perhaps soon we will witness a major wave of DXY as all asset classes decline together and the Fed's hawkish stance in the recent FOMC.