IIAC LETTER
Equity ETF Performance and Outlook – 2020
The latest IIAC Letter examines how equity ETFs performed from January to early September 2020 and particularly through the height of the coronavirus outbreak.
The paper concludes that equity ETFs held up well, unlike the liquidity problems experienced in some fixed income ETFs and the underlying fixed income market as a whole. In addition, and notwithstanding stained and volatile markets, equity ETFs positively enhanced continuous market liquidity and provided transparent price discovery. Equity ETFs arguably performed better than the underlying market in some cases and provided an additional layer of liquidity to the system.
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