ETF Monitors

Weekly ETF Monitor for week ending 15 May 2020

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May 20, 2020

This week's highlights Equity markets mostly declined last week as the recent rally stalled, though the domestic market ended the week in positive territory. Gold miners (GDX) and biotechnology (CURE) ETFs were the top performing equity funds. Global property funds (REIT and DJRE) were the biggest decliners, followed by U.S. small caps (IJR), banks (BNKS) and global value stocks (VVLU). Precious metals rose across the board, with silver leading the way. ETPMAG gained 10.6% to be the week’s top performing fund, while GOLD rose by 3.8%. Strong U.S. dollar fund YANK was also amongst the top performers. Total flows into domestically domiciled ETFs were $407m, while outflows totalled $124m. Domestic equity fund IOZ saw the biggest inflows for the week, followed by bond fund IAF and STW. Global corporate bond fund IHBC, cash fund ISEC and resources sector fund QRE saw the week’s biggest outflows. IOZ was the most traded fund for the week, followed by bearish equity fund BBOZ. Cash fund BILL saw above average volumes. ETFS Physical Silver (ETPMAG), which invests in physical silver bullion, returned 10.6% for the week. Being a more industrial commodity than gold, silver saw much bigger drawdowns in late-February and early-March as markets reacted to the rapid spread of COVID-19. At that time the ratio of gold to silver prices hit all-time highs. Since bottoming on 19th March, however, ETPMAG has rebounded by 23.7%, compared to 7.6% for GOLD over the same period.

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Weekly ETF Monitor for week ending 8 May 2020

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May 12, 2020

This week's highlights U.S. and Australian equity markets finished up last week. Oil rebounded and technology stocks bounced (OOO and ATEC) were the top performers for the week, returning 14.7% and 10.8% respectively. Biotechnology fund CURE also had a strong week up 8% and Global TECH was up 7.9%. European markets dipped along with emerging markets as debt levels came into question, with NDIA down 8%. While precious metal Palladium (ETPMPD) was down 7.7% for the week. Total flows into domestically domiciled ETFs were $286m, while outflows totalled $172m. iShares Composite Bond ETF (IAF) saw the biggest inflows for the week, followed by QUAL and defensive strategies GOLD and BBUS. iShares Core Cash (BILL) saw the week’s biggest outflows. Bearish domestic fund BBOZ was the most traded fund for the week, followed by MSTR and VAS. ETFS S&P Biotech ETF (CURE), which tracks a basket of the world’s leading biotechnology companies listed in the U.S., returned 8% for the week. The sub-sector remains popular given the demand for a COVID-19 treatment or vaccine.

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Weekly ETF Monitor for week ending 1 May 2020

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May 05, 2020

This week's highlights Equity markets were mixed last week. India funds (NDIA and IIND) were the top performers for the week, returning 8.4% and 6.1% respectively. European funds (ESTX and HEUR) as well as a range of active ETFs (IMPQ, INES and VVLU) were also amongst the top performers. Biotech (CURE) and healthcare (IXJ) funds were amongst the poorest performers amidst coronavirus-related volatility. Precious metals mostly declined last week with GOLD down 2.8% and palladium (ETPMPD) falling 4.6%. Oil remained volatile, but finished the week relatively unchanged. The Australian dollar traded above US65c before ending just above US64c. Total flows into domestically domiciled ETFs were $317m, while outflows totalled $76m. Cash fund AAA saw the biggest inflows for the week, followed by QUAL and a range of domestic equity funds (A200, IOZ and STW). Hedged MSCI World fund (IHWL) saw the week’s biggest outflows. Bearish domestic fund BBOZ was the most traded fund for the week, followed by VAS and bearish US fund BBUS. OOO saw above average volumes in-line with its flows. ETFS Reliance India Nifty 50 ETF (NDIA), which tracks the 50 largest companies listed on India’s NSE, returned 8.4% for the week. The Indian market was buoyed by better than expected corporate earnings and encouraging initial results of a potential COVID-19 treatment.

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Weekly ETF Monitor for week ending 24 April 2020

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Apr 28, 2020

This week's highlights Equity markets mostly retreated last week as the rebound stalled across many sectors. Gold miners (MNRS and GDX) and biotechnology (CURE) were the top performing long-only equity funds. Bearish funds (BBOZ, BEAR and BBUS) also fared well. Australian property funds (MVA, SLF and VAP), dividend yield funds (ZYAU and MVS) and sustainability funds (GRNV and FAIR) were amongst the poorest performers for the week. Oil continued its dramatic slide, with OOO dropping 45.6% for the week. Gold consolidated above US$1,700/ounce, with GOLD, PMGOLD and QAU all amongst the week’s top performers. Total flows into domestically domiciled ETFs were $333m, while outflows totalled $128m. Oil fund OOO saw the biggest inflows as investors looked to profit from historically low prices. Domestic floating rate note funds (FLOT and QPON) saw the biggest outflows for the week along with emerging market equities (IEM). Bearish domestic fund BBOZ was the most traded fund for the week, followed by broad-based funds OOO and VAS. IEM saw above average volumes in-line with its flows. ETFS S&P Biotech ETF (CURE), which tracks the performance of an equally weighted portfolio of US-listed biotechnology companies, returned 5.7% for the week and is up 11.7% year-to-date. In comparison, the benchmark S&P 500 Index has declined by 2.7% year-to-date in Australian dollar terms.

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Weekly ETF Monitor for week ending 17 April 2020

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Apr 21, 2020

This week's highlights The rebound in equity markets continued last week. Healthcare (Biotechnology) and technology sectors provided many of the top performing ETFs for the week with FANG and CURE returning 10.1% and 8.7% respectively. Precious metals GOLD and ETPMPD are the top performers year to date. Oil continued its slide, with OOO dropping 14.7% for the week and oil futures moving well into uncharted territory. Total flows into domestically domiciled ETFs were $225m, while outflows totalled $133m. International bear equity fund BBUS saw the biggest inflows, while funds OOO, BBOZ and IOZ also saw strong flows. Australian portfolio diversifier fund EX20 saw the week’s biggest outflows. Bearish domestic fund BBOZ was the most traded fund for the second week running, followed by broad-based funds VAS and STW. ETFS FANG+ ETF (FANG), which tracks the performance of technology leaders such as Apple, Alphabet (Google), Amazon, Facebook and Netflix, returned 10.1% for the week and is now up 7.8% since its inception at the end of February 2020.

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Weekly ETF Monitor for week ending 10 April 2020

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Apr 15, 2020

This week's highlights The rebound in equity markets continued into the Easter long weekend. Global and domestic real estate sectors provided many of the top performing ETFs for the week with REIT, SLF, MVA, VAP and DJRE all returning in excess of 13%. Small- and mid-cap U.S. equities (IJR and IJH) and global banks (BNKS) also posted strong returns. With most sectors and markets posting gains, only bearish funds were amongst the poorest performers across equity ETFs. Oil continued its slide, with OOO dropping 17.7% for the week. The US dollar declined against most majors. Precious metals advanced in US dollar terms, but declined against a strengthening AUD. Total flows into domestically domiciled ETFs were $398m, while outflows totalled $190m. Domestic equity fund IOZ saw the biggest inflows, while bearish funds BBOZ, BBUS, cash fund AAA and currency hedged equity funds (IHVV and QHAL) also saw strong flows. High yield fixed income fund IHHY saw the week’s biggest outflows for the second week running. Bearish domestic fund BBOZ was the most traded fund for the week, followed by broad-based funds VAS and STW. ETFS FANG+ ETF (FANG), which tracks the performance of technology leaders such as Apple, Alphabet (Google), Amazon, Facebook and Netflix, returned 4.6% for the week and is down by just 2.1% since its inception at the end of February 2020. The NYSE FANG+ Index, which FANG tracks, has posted a positive return of 11.2% year-to-date, despite the broad market sell-off.

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