ERShares Private-Public Crossover ETF is trading 3.1% down today as a stronger-than-expected U.S. jobs report reinforces expectations for higher-for-longer interest rates.
- The fund is seeing a sharper decline than the S&P 500 due to its high-beta profile and heavy concentration in information technology and communication services.
- Investors are rotating away from long-duration, growth-oriented assets as the robust labor market suggests the Federal Reserve may maintain restrictive monetary policy for longer.