ETF Monitors

Weekly ETF Monitor for week ending 20 March 2020

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Mar 24, 2020

This week's highlights Another week of extreme volatility saw the S&P/ASX 200 fall 13%, the S&P 500 drop 15% and the VIX peak above 85. Bearish ETFs (BBUS, BBOZ and BEAR) were the top performing funds, while foreign currency funds (YANK, ZUSD, USD and EEU) also saw strong gains for the week as the AUD fell to 17-year lows. Amongst long-only equity funds, gold miners (GDX) bounced back and Japan (IJP) saw modest gains. On the negative side, leveraged funds (GGUS and GEAR) were significant decliners along with oil (OOO). Real estate funds, both domestic (MVA, SLF and VAP) and international (REIT and DJRE) were also amongst the hardest hit. Precious metals mostly declined for the week. Silver and platinum saw big dips, while palladium stabilised. Gold dropped 2% in US dollar terms, but gained ground in AUD. Total flows into domestically domiciled ETFs were $297m, while outflows totalled $918m. Domestic equity funds including STW, GEAR and MVW saw the largest inflows. Cash and fixed income funds (IHEB, AAA, BILL, IAF, QPON, IHHY and CRED) saw significant outflows. Bearish domestic fund BBOZ was the most traded fund for the second week running, followed by broad-based funds VAS and STW. GOLD saw above average trading.

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Weekly ETF Monitor for week ending 13 March 2020

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Mar 17, 2020

This week's highlights COVID-19 and Saudi Arabia’s aggressive moves to ramp up oil supply saw for one of the most volatile weeks ever across financial markets. Bearish ETFs (BBOZ, BBUS and BEAR) were the top performing funds, while foreign currency funds (YANK, ZUSD, USD, EEU and POU) also saw strong gains for the week. Amongst long-only equity funds, only China ETFs (CETF and IZZ) saw green. On the negative side, there were many. Energy companies were hit hardest – FUEL fell 27% for the week. Gold miners were also hit hard, despite the metal trading flat in AUD terms. European equity funds (HEUR) were also amongst the biggest decliners. Precious metals were not immune. Gold dropped 7% is US dollar terms, but held its ground in AUD. Palladium gave up most of its recent gains, dropping nearly 30%. Oil ETF OOO fell 23% for the week. The Australian dollar fell below US62c for the first time since 2008. Total flows into domestically domiciled ETFs were $460m, while outflows totalled $468m. Domestic equity funds dominated flows with A200 and STW seeing the largest inflows and IOZ seeing the largest outflows. GOLD, QAU and USD saw strong haven flows, while crude oil fund OOO saw speculative inflows following the massive price drop. Bearish domestic fund BBOZ was the most traded fund last week, followed by broad-based funds VAS, STW and IOZ. Other leveraged funds, BBUS and GEAR, saw above average trading. ETFS Enhanced USD Cash ETF (ZUSD) returned 7.8% for the week, benefiting from the strengthening US dollar and the stability of cash amidst the turmoil in more volatile asset classes.

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Weekly ETF Monitor for week ending 6 March 2020

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Mar 10, 2020

This week's highlights Gold miners headlined the top performers in a turbulent week, with MNRS and GDX seeing returns in excess of 8%. Defensive sectors, including healthcare (DRUG), consumer staples (IXI) and infrastructure (IFRA) were also amongst the top performers alongside bearish funds BBOZ and BEAR. Financial sector ETFs (MVB, OZF, QFN and BNKS) were the week’s poorest performers, with high beta plays such as India (NDIA) and technology (TECH) also seeing declines. Gold continued to push higher, trading above US$1,690/oz towards the end of the week. Hedged gold (QAU) added 3.7%, while palladium (ETPMPD) dropped 8.0%. Oil saw big declines, with OOO dropping 7.8%. The Australian dollar regained ground, adding close to 3% for the week and AUDS was amongst the week’s top performing funds. Total flows into domestically domiciled ETFs were $424m, while outflows totalled $181m. iShares S&P/ASX 200 ETF (IOZ) and ETFS Physical Gold (GOLD) saw the largest inflows for the week. BetaShares Australian High Interest Cash ETF (AAA) saw the bulk of the week’s outflows. VAS was the most traded fund last week, followed by IOZ. BBOZ and MGE saw above average volumes.

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Weekly ETF Monitor for week ending 28 February 2020

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Mar 03, 2020

This week's highlights Risk-off sentiment dominated last week with equity markets entering correction territory across the globe. Bearish ETFs (BBUS, BBOZ and BEAR) were by far the top performing funds for the week. Geared funds aside, the biggest declines were seen across a range of sectors, including gold miners (MNRS), energy (FUEL), real estate (REIT) and banks (BNKS). Precious metals were mixed. Gold reached its highest level in seven years, before retreating later in the week. Palladium (ETPMPD) once again reached new all-time highs. Oil saw big declines, with OOO dropping 16.2% for the week. The Australian dollar fell below US65c for the first time since the GFC, driving currency ETFs higher. BetaShares Euro ETF (EEU) and ETFS Enhanced USD Cash ETF (ZUSD) were amongst the week’s top performers. Total flows into domestically domiciled ETFs were $381m, while outflows totalled $86m. BetaShares Australian High Interest Cash ETF (AAA) and ETFS Physical Gold (GOLD) saw the largest inflows for the week as investors looked for safe-haven assets. iShares Global 100 ETF (IOO) and BetaShares S&P/ASX 200 Resources Sector ETF (QRE) saw the bulk of the week’s outflows. VAS was the most traded fund last week, followed by AAA. GOLD and BBOZ saw above average volumes. ETFS FANG+ ETF (FANG) commenced trading this week. FANG offers exposure to an equally-weighted portfolio of ten of the world’s top innovators across today’s tech and internet/media companies.

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Weekly ETF Monitor for week ending 21 February 2020

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Feb 24, 2020

This week's highlights Chinese stocks rebounded last week on the back of tough measures to contain the coronavirus outbreak and stimulate economic activity. CNEW and CETF were both amongst the top performing ETFs for the week. Other Asian markets including South Korea and Japan suffered as outbreaks spread; IKO, UBP, IJP, IAA, UBJ and ASIA were all amongst the week’s poorest performers. Global technology stocks (TECH) also suffered on global growth and supply-chain concerns. Precious metals all gained with haven assets in demand. GOLD returned 5.3% for the week, while palladium (ETPMPD) added 10.8% and once again touched new all-time highs. Gold mining ETFs (GDX and MNRS) were the top performing equity funds for the week. Total flows into domestically domiciled ETFs were $333m, while outflows totalled $43m. Russell Australian Responsible Investment ETF (RARI) saw the largest inflows for the week, followed by a range of global equity funds (ETHI, IEM, QUAL and NDQ). Domestic equities (IOZ), fixed income (QPON, IAF and AAA) and gold (GOLD) also saw strong flows. BetaShares FTSE RAFI Australia 200 ETF (QOZ) saw the bulk of the week’s outflows. RARI was the most traded fund last week, reflecting its flows, followed by VAS, AAA and STW. GOLD and IEM saw above average volumes. ETFS S&P Biotech ETF (CURE) returned 1.5% last week and is up 7.6% year-to-date. CURE provides broad exposure to the U.S. biotechnology sector including a number of companies actively involved in developing drugs and vaccines to combat the coronavirus.

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Weekly ETF Monitor for week ending 14 February 2020

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Feb 18, 2020

This week's highlights Global markets maintained their recent highs last week. Precious metal palladium was the best performer over the week, with ETFS Physical Palladium (ETPMPD) returning 6.5%. Australian financials and property ETFs were also amongst the best performers. SPDR S&P/ASX 200 Financials ex A-REITS Fund (OZF) was up 3.6%, BetaShares S&P/ASX 200 Financials Sector ETF (QFN) up 3.6% and VanEck Vectors FTSE International Property (Hedged) ETF (REIT) up 2.7%. The worst performers over the week were Japanese equity based ETFs. iShares MSCI Japan ETF (IJP) was down 2.1% and UBS IQ MSCI Japan Ethical ETF (UBJ) also down 2%. Looking at flows for the week. Inflows totalled A$311 million whilst outflows were A$78 million. The biggest inflows were into ETFS Physical Gold (GOLD) which saw A$28.6 million. Largest outflows for the week were in Japanese and Australian based ETFs. BetaShares Australia 200 ETF (A200) had A$35.4 million in outflows and iShares MSCI Japan ETF (IJP) A$17.4 million in outflows. Year to date inflows remain strongest in Australian and international equities as well as gold.

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Weekly ETF Monitor for week ending 7 February 2020

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Feb 11, 2020

This week's highlights Healthcare and technology sectors had a strong week as repercussions on markets as a result of the Coronavirus were more subdued than first thought. The Australian Dollar continued to weaken having a positive effect on unhedged international ETFs. ETFS S&P Biotech ETF (CURE) was the best performing equity ETF over the week returning 6.8%. BetaShares Asia Technology Tigers ETF (ASIA) was up 5.3% and ETFS Battery Tech & Lithium ETF (ACDC) was up 4.5% as Tesla and Orocobre had strong weeks. The worst performers were Chinese equity ETFs, with VanEck Vectors ChinaAMC A-Share ETF (CETF) down 5.4%. Oil and Mining ETFs also had a negative week. VanEck Vectors Gold Miners ETF (GDX) was down 3.6% and BetaShares Crude Oil Index ETF - Ccy Hedged (OOO) was down 2.4%. The best flows were into fixed income products. VanEck Vectors Australian Floating Rate ETF (FLOT) topped the weekly inflows with A$25m. ETFS Physical Gold (GOLD) also had a strong week with A$13m in inflows. The biggest outflows were seen in BetaShares Australia 200 ETF (A200), which had outflows of A$119m. Total inflows over the week were A$296m and total outflows were A$148m.

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Weekly ETF Monitor for week ending 31 January 2020

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Feb 03, 2020

This week's highlights Safe haven assets bounced back last week as global uncertainty surged around the global pandemic of the Coronavirus. ETFS Physical Gold (GOLD) was up 3.3% over the week and ETFS Physical Silver (ETPMAG) was also up 2.3%. Currency ETFs also had a good week as the Australian dollar weakened against global majors. BetaShares British Pound ETF (POU) was up 2.9% and ETFS Enhanced USD Cash ETF (ZUSD) was up 2%. Asian Equity ETFs saw mostly red last week. The iShares MSCI South Korea Capped ETF (IKO) was down 6.5% and iShares Asia 50 ETF (IAA) was also down 5%. Further drops were seen throughout Asia with the BetaShares Japan ETF (Hedged) (HJPN) down 4.1%. One month into the new year sees precious metals and technology ETFs as the best performers. ETFS Physical Palladium (ETPMPD) is the best performer YTD up 25.5%. Net flows for the week were down but still positive. Inflows totalled $228 Million whilst outflows were $76 Million. The biggest outflow was in SPDR S&P/ASX 200 Fund (STW) with $51 Million redeemed. The biggest inflows were into iShares S&P/ASX 200 ETF (IOZ) $25 Million and iShares Global High Yield Bond (AUD Hedged) ETF (IHHY) $23 Million.

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Weekly ETF Monitor for week ending 24 January 2020

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Jan 29, 2020

This week's highlights Defensive equity funds were the flavour of the week with gold miners (GDX and MNRS), infrastructure (VBLD and CORE) and real estate (DJRE) topping the performance tables. Asia and emerging markets funds (IZZ, CETF, CNEW, IAA and VGE) were amongst the poorest performers. Energy company fund (FUEL) also suffered on falling crude prices. Precious metals all gained, with the exception of silver. GOLD returned 1.2% for the week, while palladium (ETPMPD) touched new all-time highs before pulling-back. Crude oil dipped below US$54/bbl and oil ETF OOO declined 7.5% for the week. Total flows into domestically domiciled ETFs were $364m, while outflows totalled $15m. SPDS S&P/ASX 200 Fund (STW) saw the largest inflows for the week, followed closely by a range of domestic equity (MVR and A200) and fixed income (AAA, QPON and CRED) funds. Emerging market equities (IEM) and gold (GOLD) also saw strong flows. IOZ was the most traded fund last week, followed by VAS and STW. VHY and QPON saw above average volumes. ETFS Global Core Infrastructure ETF (CORE) returned 1.6% last week and is up 5.8% year-to-date. CORE provides exposure to 75 listed-infrastructure firms from global developed markets that exhibit low volatility relative to their peers.

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Weekly ETF Monitor for week ending 17 January 2020

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Jan 20, 2020

This week's highlights Precious metals Palladium and Platinum surged last week. ETFS Physical Palladium (ETPMPD) continued its run up 17.3% and ETFS Physical Platinum (ETPMPT) was up 6.2%. The flow on effects were seen in the basket of Gold, Silver, Palladium and Platinum. ETFS Physical Precious Metal Basket (ETPMPM) was also up 6.2%. Global and domestic equities continued their strong rally as they broke through and maintained all time highs. Vanguard Global Infrastructure Index ETF (VBLD) was up 3.3% and Magellan Global Equities Fund (MGE) up 3.2%. Global banks, oil and Australian dollar hedge funds were amongst worst performers. BetaShares Strong Australian Dollar Hedge Fund (AUDS) was down 1.1%, BetaShares Crude Oil Index ETF - Ccy Hedged (OOO) down 0.7% and BetaShares Global Banks ETF (Hedged) (BNKS) down 0.3%. Inflows for the week were $414 Million and outflows totalled $19 million. Majority of the inflows were seen by iShares S&P/ASX 200 ETF (IOZ). Outflows were highest from BetaShares S&P/ASX 200 Financials Sector ETF (QFN).

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Weekly ETF Monitor for week ending 10 January 2020

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Jan 13, 2020

This week's highlights Asian equities dominated the top performing funds last week, with CNEW, ASIA, IKO and IAA all returning 3.5% or more. Australian shares also had a strong week with the S&P/ASX 200 reaching new all-time highs. DIV and ILC were the week’s best performing domestic equity funds. Global banks (BNKS), gold miners (GDX and MNRS) and a range of commodity funds were the biggest decliners for the week. Precious metals were mixed. Gold rallied to 6-year highs following Iran’s military action against U.S. assets, before pulling-back as tensions eased. ETFS Physical Gold (GOLD) finished the week 1.0% higher. ETFS Palladium (ETPMPD) soared 7.5% to new all-time highs, while platinum and silver declined. Crude oil spiked above US$65/bbl before dropping sharply. OOO declined 6.3% for the week. Total flows into domestically domiciled ETFs were $368m, while outflows totalled $72m. iShares Core MSCI World All Cap ETF (Hedged) (IHWL) saw the largest inflows for the week, followed by a range of equity, fixed income and commodity funds. Domestic equity funds IOZ and STW saw the bulk of the week’s outflows. VAS was the most traded fund last week, followed by SWT and IOZ. IHWL and GOLD saw above average volumes. ETFS Morningstar Global Technology ETF (TECH) returned 38.1% in 2019 and is already up 4.4% in 2020. TECH provides equally-weighted exposure to a diverse range of technology companies that have strong competitive advantages in their field and are attractively valued, as determined by Morningstar’s analyst ratings.

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