As Fed rate hike worries grew in February, short-term U.S. treasury bond ETFs amassed huge assets as these bonds have lower interest rate and default risks.

Investors are pouring billion into bonds to start 2023.

Last week, ETFs pulled in $10 billion in capital. U.S. fixed-income ETFs led the way higher with $4.5 billion in inflows, closely followed by $3.9 billion in international equity ETF.

Falling inflation in many developing economies, cheaper valuation and higher yields may boost some emerging markets ETFs.