(Bloomberg) — Money is starting to flood into exchange-traded funds that focus on media and retail companies, marking a rebound for this year’s worst-performing ETF industry group as U.S. economic growth revives consumer demand.
Investors pumped $1.79 billion into consumer discretionary exchange-traded funds in the five trading days through Aug. 6, the most of any group, according to data compiled by Bloomberg. The funds have still seen $2.04 billion flow out this year, also the most among the different industries.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"