ETF Monitors

Weekly ETF Monitor for week ending 7 June 2019

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Jun 12, 2019

This week's highlights This week saw the RBA cut rates to 1.25% after 33 months on hold. Australian Financials and Materials rallied but this was not a match for the performance across some global and U.S. strategies. The top performers for the week were BetaShares Geared US Equity Fund - Ccy Hedged (GGUS) up 10.3% and BetaShares Global Gold Miners ETF (Hedged) (MNRS) up 5.5%. The worst performers over the week were the BetaShares US Equities Strong Bear HF - Hedged (BBUS) down -9.4% and VanEck Vectors China New Economy ETF (CNEW) down -5.9%. Chinese markets pricing is the latest in the U.S.-China trade wars. Looking longer term, bear strategies with exposure to U.S. and Australian markets are the worst performers over the year-to-date and last 12 months. BetaShares Australian Equities Strong Bear (BBOZ) down -31.7% YTD. The best performers over 12 months remain ETFS Physical Palladium (ETPMPD) up 43.2% and VanEck Vectors Australian Property ETF (MVA) up 30%. Looking at flows over the week there were $294 million in outflows and $87 million in inflows for ETFs. The outflows were from BetaShares Australia 200 ETF (A200) with outflows of $135 million and BetaShares Australian High Interest Cash ETF (AAA) with outflows of $93 million. VanEck Vectors Australian Equal Weight ETF (MVW) saw the largest inflows of $18 million.

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Weekly ETF Monitor for week ending 31 May 2019

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Jun 04, 2019

This week's highlights Trump’s tariff threats returned to centre stage last week hitting equity markets across the globe, while speculation mounted on potential activity from the RBA, Federal Reserve and ECB in coming weeks. Defensive sectors such as energy, consumer staples and utilities underperformed, with ETFs such as ZYUS, MOAT, VVLU and QUS all amongst the poorest performers for the week. Emerging markets still managed to post gains, with VGE, EMKT, IEM and FEMX all returning at least 1.7%. Precious metals benefited from the risk-off sentiment with ETFS Physical Gold (GOLD) returning 0.8% for the week and gold mining funds (MNRS and GDX) topping the performance tables for long-only equities. Crude oil dropped substantially, with OOO down 8.7% for the week. Total flows into domestically domiciled ETFs were $120m, while outflows totalled $60m. The biggest inflows were into domestic fixed income, cash and hybrid ETFs (IAF, AAA and HBRD), while the biggest outflows for the week were from inflation-linked bond (ILB) and emerging market (IEM) ETFs. AAA was the most traded fund last week, while QPON saw above average volumes. STW saw a substantial reduction in trading volume. ETFS Physical Precious Metals Basket (ETPMPM) returned 0.9% for the week and is up 12.6% over the past 12 months. It provides diversified exposure to the four major precious metals and their different supply and demand drivers. Its current allocation is 50% gold, 25% palladium, 17% platinum and 8% silver.

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Weekly ETF Monitor for week ending 24 May 2019

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May 28, 2019

This week's highlights Aussie sectors, financials and resources soared last week off the back of a confidence boost from the LNPs win in the federal election. Financials also received a boost from APRAs proposal to remove the survivability buffer on home loans. Globally, markets were impacted by increasing trade war tensions between the U.S. and China as well as added uncertainty from May’s resignation. Unsurprisingly, VanEck Vectors Australian Banks ETF (MVB) and BetaShares S&P/ASX 200 Financials Sector ETF (QFN) were the best performers over the week, with MVB returning 6.9% and QFN 6.1%. The worst performers were BetaShares Crude Oil Index ETF - Ccy Hedged (OOO) down 6.8%, BetaShares Asia Technology Tigers ETF (ASIA) down 5.1% and BetaShares Global Robotics and Artificial Intelligence ETF (RBTZ) down 4.5%. The top flows for the week were seen by BetaShares Australian High Interest Cash ETF (AAA) and SPDR S&P/ASX 200 Fund (STW). Closely followed by BetaShares S&P/ASX 200 Financials Sector ETF (QFN) and BetaShares Australia 200 ETF (A200). Net inflows for Australian ETFs were a significant $313 Million. Looking longer term at performance over twelve months, ETFS Physical Palladium (ETPMPD) remains the best performer up 48.8% and VanEck Vectors Australian Property ETF (MVA) is up 28.1%. The worst performers are exchange listed hedge funds, with BetaShares Strong Australian Dollar Hedge Fund (AUDS) down 21.3% and BetaShares Australian Equities Strong Bear (BBOZ) down 24%.

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Weekly ETF Monitor for week ending 17 May 2019

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May 21, 2019

This week's highlights Resource sector ETFs (MVR, OZR and QRE) were the top performers for the week as iron ore prices rallied to 2-year highs on China demand and global supply concerns. Market positioning ahead of the Australian election saw domestic financial sector ETFs (MVB, QFN and OZF) underperform last week. Asia-focused ETFs were also hit by continuing U.S.-China trade concerns, with ITW, ASIA, IKO, IAA and CETF all amongst the worst performers. Total flows into domestically domiciled ETFs were $100m, while outflows totalled $48m. The biggest inflows were into domestic cash and fixed-income ETFs (AAA, IAF, RCB and PLUS). BetaShares Australian Equities Strong Bear ETF (BBOZ) also saw inflows ahead of the election. The bulk of outflows for the week were from SPDR S&P/ASX 200 ETF (ETF). STW and AAA were the most traded funds last week, while Vanguard Australian Property Securities Index ETF (VAP) saw above average volumes. ETFS EURO STOXX 50 ETF (ESTX) posted a strong 3.0% return for the week and has now returned 15.9% year-to-date as the European economy continues to show evidence of growth having bottomed-out in early 2019 and optimism returning.

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Weekly ETF Monitor for week ending 10 May 2019

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May 14, 2019

This week's highlights Global equity markets fell substantially last week as U.S. and China trade tensions escalated. Asia-focused ETFs were the hardest hit. The 10 worst performers for the week all included substantial Asian equity exposure, including iShares China Large-Cap (IZZ), VanEck Vectors ChinaAMC A-Share ETF (CETF) and iShares MSCI South Korea Capped ETF (IKO). Precious metals benefited from the risk-off sentiment with ETFS Physical Silver (ETPMAG) returning 1.3% for the week and gold funds (QAU, GOLD and PMGOLD) all amongst the top performers. Platinum also rallied. Domestic equities fared better, with resource sector (MVR) and property (MVA) funds posting positive returns for the week. Total flows into domestically domiciled ETFs were $83m, while outflows totalled $25m. The biggest inflows were into domestic equity ETFs (MVW and FAIR) and fixed income ETFs (AAA, CRED, HBRD and QPON). The biggest outflows for the week were from BetaShares Australia 200 ETF (A200) and international equity funds including IEU, IJH, FEMX and BNKS. STW and AAA were the most traded funds last week, while Magellan Global Equities Fund (MGE) saw above average volumes. ETFS Global Core Infrastructure ETF (CORE) posted a marginally positive return for the week and has now returned 8.8% year-to-date. It’s positive performance last week was despite a 30% allocation to Asia, demonstrating the important role of infrastructure assets in a portfolio and their ability to provide stability and aid diversification.

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Weekly ETF Monitor for week ending 3 May 2019

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May 07, 2019

This week's highlights The best performers over the week were iShares MSCI Taiwan ETF (ITW) up 2.1% and UBS IQ MSCI Asia APREX 50 Ethical ETF (UBP) up 2%. The worst performers were dominated by miners, physical commodities and property. ETFS Physical Palladium ETF (ETPMPD) and BetaShares Global Gold Miners ETF (Hedged) (MNRS) were both down 4.7%. The SPDR S&P/ASX 200 Listed Property Fund (SLF) and VanEck Vectors Australian Property ETF (MVA) were both down -4.2%. Over twelve months ETFS Physical Palladium ETF (ETPMPD) remains the best performer with a return of 48.9%. ETFs tracking Morningstar’s moat focused index methodologies have also performed well. VanEck Vectors Morningstar Wide Moat ETF (MOAT) has returned 29.7% and ETFS Morningstar Global Technology ETF (TECH) is up 29.1%. The market saw inflows of $116 Million over the week and outflows of $98 Million. The best flows for the week were seen by Australian based ETF offerings including, VanEck Vectors Australian Equal Weight ETF (MVW), BetaShares Australian High Interest Cash ETF (AAA) and BetaShares Australian Investment Grade Corporate Bond ETF (CRED). The biggest outflows were across BetaShares U.S. Dollar ETF (USD) and ETFS Physical Gold (GOLD). Looking closer at weekly, year to date and 12 month turnover. Australian focused strategies STW, VAS and AAA hold the top three rankings.

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