ETF Monitors

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Weekly ETF Monitor for week ending 24 April 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.