ETF Monitors

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Weekly ETF Monitor for week ending 3 April 2020

This week's highlights

  • Domestic equities rallied strongly last week as early signs of declining infection rates emerged. Resource sector funds (MVR, OZR and QRE) were all amongst the top performing ETFs for the week. Global energy companies (FUEL) also rallied as oil regained some ground. On the negative side, global banks (BNKS) and real estate funds (REIT and DJRE) were amongst the poorest performers, along with Japanese equities (HJPN and UBJ).

  • Gold and silver pushed higher, while platinum and palladium declined. Oil rebounded on hopes of supply cuts, with OOO topping the weekly performance charts, up 31.9%. The Australian dollar ended the week dipping back below US60c. YANK was amongst the week’s top performers.

  • Total flows into domestically domiciled ETFs were $539m, while outflows totalled $292m. Domestic equity fund STW saw the biggest inflows, while bearish funds BBOZ, BBUS and BEAR and gold (GOLD) also saw strong interest from investors expecting further downside. High yield fixed income fund IHHY saw the week’s biggest outflows.

  • Bearish domestic fund BBOZ was the most traded fund for the fourth week running, followed by broad-based funds VAS and STW. Hedged global equity fund VGAD saw above average trading.

  • ETFS Physical Silver (ETPMAG) has returned 16.9% since its mid-March low. At that time the widely followed gold/silver ratio reached all-time highs above 120, meaning that gold was briefly more than 120x more expensive than silver per ounce.