This week's highlights
The ETFS S&P Biotech ETF (CURE), which invests in biotech companies, was the top performing non-crypto index ETF. The biotech industry saw a small resurgence last week, following a difficult year.
Commodities-focussed ETFs such as QAU, OOO, ETPMAG, GDX, featured heavily in the bottom performers. Commodities have seen something of a reversal of fortunes, going from market darlings earlier this year to falling sharply in recent weeks. The reversal likely owes to fears of a recession replacing fears of inflation.
The ETF industry saw $496 million in reported inflows, with bond ETFs accounting for over one-third of these. Inflows into bond ETFs may suggest investors believe inflation fears are peaking.
There was $163 million in reported outflows. Currency hedged ETFs – such as FUEL, IHHY, BNKS, QAU – featured heavily in the mix, reflecting the strong US dollar.
Trading volumes saw a rotation towards fixed income ETFs, with four of the top 10 most traded ETFs offering fixed income exposure.