Goldman on ETF rotations: IWD, one of the largest and most actively traded ETFs for Russell value exposure, has registered 8 consecutive daily outflows, tying its second-long streak of redemptions since the fund launched in 2000. There was some supply out in the market yesterday, and the fund has leaked -$2.4bn over its latest stretch. This feels “rotationary” as growth portfolios have been the clear beneficiary of value de-grossing in recent months.