This week's highlights
Aussie resources sector ETFs were the top performers last week, with all three ETFs tracking this sector – MVR, QRE, OZR – making it into the top 10. The rebounding iron ore price as China seemed set to end its lockdowns supported Australian mining companies.
The top performing funds for the year are now SNAS and BBUS, which use short selling to bet against the US share market. These ASX-listed funds provide an alternative to put options for investors looking to profit from a falling US market. However they remain strong underperformers longer term.
Crypto was a standout laggards for the week with CRYP – the poorest performing ETF in 2022 – making another appearance in the weekly bottom 10. The crypto industry remains shaken and stirred by the Terra/Luna implosion.
The industry recorded $501 million in weekly inflows. iShares IOZ made up almost half of that with its $205 million inflow. A weekly inflow this large may owe to an institutional buyer.
There was $125 million in recorded outflows. FUEL – which mostly buys oil majors like ExxonMobil, Shell, Chevron – accounted for half of that. FUEL's performance is likely owed to the Russia-Ukraine war which has put a rocket on oil prices. The outflows therefore are likely owe to profit taking. FUEL has seen $185 million in outflows year to date, despite its rally.
The most heavily traded ETFs were IOZ and VAS.