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Weekly ETF Monitor for week ending 20 April 2018

Global equity markets advanced last week. The S&P 500 added 0.5% on strong earnings reports, moving into positive territory YTD before pulling-back on Friday. The EURO STOXX 50 added 1.3%, while the Nikkei 225 gained 1.8%. Domestically, the S&P/ASX 200 Index was led higher by the resources sector, adding 0.7%. Domestic resource sector ETFs (QRE and OZR) were the top performing equity funds, returning in excess of 3.7% for the week. iShares MSCI Singapore ETF (ISG) was the top performing international equity fund for the week.

The U.S. dollar strengthened last week, with the DXY Dollar Index gaining 0.6%. U.S. 10-year Treasury yields neared 3%, while the 2yr-10yr yield spread dropped to levels not seen since 2007. The Australian dollar dropped 1.2%, ending the week at US76.72c.

WTI crude oil added 1.4% to end the week at US$68.38/bbl, reaching new 3-year highs. Gold dropped 0.7% to US$1336/troy ounce, but continues to trade well above its longterm moving average. ETFS Physical Palladium (ETPMPD) and ETFS Physical Silver (ETPMAG) were the top performing funds for the week, returning 5.9% and 5.0% respectively.

The Australian ETF market saw inflows of $82m into and outflows of $13m from domestically domiciled funds last week. The largest inflows were into BetaShares U.S. Dollar ETF (USD) and ETFS Physical Gold (GOLD). Outflows were spread across a range of equity and cash funds.