ETF Monitors

Weekly ETF Monitor for week ending 21 July 2017

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Jul 21, 2017

The S&P/ASX 200 declined by 0.7% as more hawkish statements from RBA saw the market dip on Tuesday. The S&P 500 gained 0.5%, also led by shifting rate expectations. The EURO STOXX 50 lost 2.1% for the week. BetaShares Global Gold Miners ETF (MNRS) was the top performing equity fund for the week as the market continued to turn positive for precious metals. The Australian dollar gained another 1.1% against the US dollar last week. The euro gained 1.7% and the yen also gained 1.2% as the US dollar fell on lower interest rate expectations and potential delays to Trump's policy agenda. Commodities posted a strong week with gold up 1.5% and silver jumping 4.6%. ETFS Physical Silver (ETPMAG) was the top performing fund for the week. Iron ore also rallied on higher than expected Chinese growth. The Australian ETF market saw inflows of A$196m and outflows of A$141m from domestically domiciled ETFs last week. The largest flows for the week were in the cash sector with inflows into BILL and QPON and outflows from AAA.

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Weekly ETF Monitor for week ending 14 July 2017

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Jul 14, 2017

Global equities rallied last week following Janet Yellen's comments suggesting that the pace of rate normalisation will be more gradual than some had anticipated. The S&P/ASX 200 added 1.1%, the S&P 500 rose 1.4%, the EURO STOXX 50 gained 1.8%, while the MSCI Emerging Markets Index jumped 4.5%. iShares MSCI BRIC ETF (IBK) was the top performing unleveraged equity ETF for the week, returning 2.3% in Australian dollar terms. The Australian dollar gained over 3% on general US dollar weakness and higher commodity prices. The euro gained 0.6% and the pound added 1.6% against the US dollar. The Japanese yen also strengthened by 1.2%. Global bonds yields climbed after a better-than-expected US jobs report offered support to the Federal Reserve's plan to raise interest rates, US 10 year Treasury yields up 0.08%. Australian 10 year government bond yields up 0.13%. Commodities rebounded with WTI crude oil up 5.2% and iron ore up 4.7%. Lower rate expectations also provided positive news for precious metals with gold rising by 1.2% for the week, its best weekly performance in two months. The Australian ETF market saw inflows of A$84m and outflows of A$67m from domestically domiciled ETFs last week.

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Weekly ETF Monitor for week ending 30 June 2017

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Jun 30, 2017

Global equities declined last week as monetary policy expectations were re-aligned following hawkish comments from central bankers across the globe. The S&P/ASX 200 declined by 1.7% on Friday to end the week up 0.1%, following an earlier rally in commodities. The S&P 500 declined 0.6%, while the EURO STOXX 50 dropped 2.9% as European inflation disappointed. Resource sector ETFs (QRE and OZR) were the top performing equity funds for the week, while gold miners (MNRS and GDX) were amongst the poorest performers. The Australian dollar ended the week close to 3 month highs, nearing US 77c on general US dollar weakness. The euro gained 2.1% against the US dollar as the ECB hinted at tighter monetary policy. Global bonds sold off, with US 10 year Treasury yields up 0.16% and Australian 10 year government bond yields up 0.23%. WTI crude rebounded 7%, while iron ore gained 14.5%, sending resource stocks higher. The Australian ETF market saw inflows of A$116m and outflows of A$58m from domestically domiciled ETFs.

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Weekly ETF Monitor for week ending 23 June 2017

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Jun 23, 2017

The S&P/ASX 200 declined by 1% last week as financial stocks continued to suffer from bank-levy related selling. The S&P 500  gained 0.2% as a rebound in technology stocks from the previous week's dip offset falls in the energy sector. The Nikkei 225 gained 1%, while the EURO STOXX 50 ended the week flat. ETFS Morningstar Global Technology ETF (TECH) was the top performing ETF for the week, while VanEck Vectors ChinaAMC A-Share ETF (CETF) benefited from the decision to include China A-shares in the MSCI Emerging Markets Index. The Australian dollar ended the week 0.7% lower, suffering its worst week in two months on the back of lower commodity prices. WTI crude declined 3.9% to US$43/bbl and officially entered a bear market. Precious metals dipped early in the week before finishing the week strongly. The broad Bloomberg Commodity Index declined 2% for the week. The Australian ETF market saw inflows of A$226m and outflows of A$31m from domestically domiciled ETFs. The largest inflows were into broad-based domestic equity funds (STW, QOZ and IOZ) and BetaShares Australian High Interest Cash ETF (AAA). The bulk of outflows were from iShares S&P 500 AUD Hedged (IHVV).

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Weekly ETF Monitor for week ending 16 June 2017

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Jun 16, 2017

The S&P/ASX 200 rebounded last week, posting a 1.7% gain despite declining commodity prices. Healthcare, real estate and financials were the leading sectors. The three top performing ETFs for the week were all domestic property funds (SLF, VAP and MVA). Globally, the S&P 500 posted a modest gain despite  further declines in the technology sector. The Fed Reserve raised rates for the second time this year. The Australian dollar ended the week 1.3% higher, pushing back above US 76c for the first time since early April. Commodity markets were mostly weaker last week with precious metals declining in the wake of higher US interest rates. WTI crude fell to a new year-to-date low on higher OPEC output in May. The Australian ETF market saw inflows of A$79m and outflows of A$28m from domestically domiciled ETFs. The largest inflows were into broad-based domestic equity funds (QOZ and STW) and the largest outflows were from BetaShares Australian High Interest Cash ETF (AAA).

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