Follow the Money: Investors Flee Broad Tech, Buy Chips

Despite massive year-to-date capital flights from the Nasdaq-100 (QQQ) and small caps (IWM), investors are still aggressively pouring billions into semiconductors (SMH).

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Year-to-date net fund flows. QQQ (-$10.7B) and IWM (-$4.0B) show significant net outflows, while SMH (+$2.3B) maintains net inflows.

Chart: The Macroprudential ViewSource: etf.comGet the dataCreated with Datawrapper