Investors pulled money out of U.S. exchange-traded funds that invest in emerging markets last week for the first time since early October, ending the longest winning streak for the ETFs since May.

Redemptions from emerging-market ETFs that invest across developing nations as well as those that target specific countries totaled $91.3 million compared with inflows of $1.1 billion in the previous week and $2.58 billion in the past three periods, according to data compiled by Bloomberg.

Almost all the losses came from bond funds, with stock ETFs declining by less than $1 million. The MSCI Emerging Markets Index fell 2.4 percent in the week.

The biggest change was in Mexico, where funds shrank by $87.7 million, compared with $37.3 million of inflows the previous week. Investors withdrew $82.1 million from stock funds and $5.7 million from bonds.

The Mexico IPC Index declined 1 percent. The peso strengthened 0.54 percent against the dollar and implied three- month volatility is 11.48 percent.

Turkey had the next-biggest change, with ETF investors redeeming $31.2 million, compared with $13.9 million of inflows the previous week. Stock funds fell by $25.5 million and bond ETFs decreased by $5.7 million.

The Borsa Istanbul 100 Index lost 0.9 percent. The lira depreciated 0.24 percent against the dollar and implied three- month volatility is 13.85 percent.