This week's highlights
Mining and resources stocks rallied strongly last week. VanEck Vectors Gold Miners ETF (GDX) was the top performing fund for the second week running, returning 5.1%, followed closely by BetaShares Global Gold Miners ETF (MNRS). Domestic resource sector ETFs (QRE, OZR ad MVR) were also amongst the top performers.
Domestic financial sector ETFs fell in advance of the release of the Hayne Royal Commission findings this week; MVB, OZF and QFN all dropped more than 3.5%.
Commodity ETFs generally had a strong week with oil (OOO), hedged gold (QAU) and silver (ETPMAG) all amongst the top performers. All five ETF Securities’ precious metals funds posted positive returns for the week.
Total flows into domestically domiciled ETFs were $193m for the week, while outflows totalled only $10m. The weeks largest inflows were into domestic equities (IOZ), A$ cash (BILL) and iShares Global Consumer Staples ETF (IXI).
Major domestic benchmark ETFs dominated trading volume last week. IXI, IAF, BILL and IXJ all seeing above average trading levels.
ETFS S&P Biotech ETF (CURE) has returned 13.0% in 2019 to-date, making it the top performing unleveraged equity ETF.