(This July 12 story corrects data after Lipper revision on U.S.-based corporate investment-grade bond funds in paragraph 9.)

FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., July 11, 2018. REUTERS/Brendan McDermid

NEW YORK (Reuters) - Investors withdrew $1.85 billion from U.S.-based equity funds in the week ended Wednesday despite strong stock market performance during the same period, according to Lipper data released on Thursday.

The data showed $1.46 billion was withdrawn from U.S.-based equity mutual funds and $387 million from U.S.-based equity exchange traded funds in the latest week.

This is the sixth straight week U.S. equity funds have experienced cash withdrawals, Lipper data showed.

In the run-up to second-quarter earnings, fund investors “bet on the fact that the trade wars are going to get worse,” said Tom Roseen, head of research services at Thomson Reuters Lipper.

The S&P 500 posted four straight days of gains before slipping on Wednesday following reports of additional U.S. tariffs on Chinese goods.

Investors’ risk aversion was evident in the demand seen for safer U.S. government and money market funds.

U.S.-based government-Treasury bond funds attracted $494 million during the period, Lipper said. Fund investors deposited $21 billion in U.S.-based money market funds, the largest net deposit since early June.

Some opportunistic buying also took place. U.S.-based high-yield bond funds saw more demand than their investment-grade counterparts, attracting $1.85 billion for the week ended Wednesday, following three consecutive weeks of outflows, according to Lipper data.

Investors deposited $814 million into U.S.-based corporate investment-grade bond funds during the period, continuing a streak of weekly inflows since March, Lipper said.

Outside of the United States, U.S.-based international equity funds posted $549 million of cash withdrawals for the week, the seventh consecutive week of outflows, according to Lipper.

U.S.-based emerging market equities took in about $148 million for the week, after four weeks of outflows, Lipper data showed.