GVI, FXZ: Big ETF Outflows

Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the iShares Intermediate Government/Credit Bond ETF (GVI), where 5,150,000 units were destroyed, or a 23.2% decrease week over week. And on a percentage change basis, the ETF with the biggest outflow was the First Trust Materials AlphaDEX Fund (FXZ), which lost 2,449,998 of its units, representing a 26.5% decline in outstanding units compared to the week prior.