This week's highlights
ETFS S&P Biotech ETF (CURE) was the top-performing unleveraged fund last week as COVID-19 vaccine rollouts commenced. Domestic resource sector funds (OZR and QRE) were also amongst the top performers. China-related funds CNEW, CETF and IZZ were the poorest performing equity funds, while UK and European funds F100 and ESTX also saw negative weeks.
Precious metals declined last week with gold (GOLD), which dropped 1.4%, being the best performer. Platinum fund ETPMPT dropped 6.1% and was the week’s overall poorest performing ETF. Pound sterling fund POU was also amongst the worst performers as Brexit concerns escalated.
Total reported flows into domestically domiciled ETFs were $449m, while outflows totalled $26m. Domestic equity funds STW and IOZ saw the biggest inflows for the week, followed by currency hedged S&P 500 fund IHVV and a range of other, mostly equity, funds. Short equity funds BBOZ, BEAR and BBUS saw the bulk of the week’s outflows.
VAS was the most traded fund for the week, followed by IOZ and STW. IHVV and FAIR saw above average volumes.
ETFS Ultra Short Nasdaq 100 Hedge Fund (SNAS) was the week’s top performing fund, returning 3.2%. SNAS uses a portfolio of short Nasdaq-100 futures to gain an inverse exposure to the Nasdaq-100 Index, which is actively managed at between -200% and -275% of the fund’s net assets. SNAS is also currency hedged to reduce the impact of any moves in the AUD/USD exchange rate.