ETF & Mutual Fund, Research

TLT Flow Analysis: A Deep Dive into Demand for One of 2023's Most Popular ETFs

Aniket Ullal, SVP - Fund Data & Analytics
Josh Khalif, Senior Institutional Trader; Flow Traders
10 January 2024

Summary

This was co-authored by CFRA Research and Flow Traders, a global liquidity provider specializing in ETFs.

TLT saw a surge in trading volume and net inflows in 2023. Institutional investors used TLT to “buy the dip” in long-dated treasuries, but timing this trade correctly proved to be difficult. A historical review of CME’s FedWatch indicator highlights the complexity of forecasting the Federal Reserve’s rate hikes and the difficulty of timing investments in TLT.


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