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Market Moves: Week Ending 04 April 2025

Justin Lin
Justin Lin
04 Apr 2025
Market Moves: Week Ending 04 April 2025

Short US equity funds BBUS, SNAS) were the top performing funds once again after Trump announced both blanket 10% tariffs on US trading partners and “reciprocal” tariffs against select countries.1 The worse-than-expected scenario triggered the worst 3 day sell-off in US markets since March 2020, with the S&P 500 losing more than US$10 trillion in value at one point during the fallout.

Commodity ETFs FUEL, OOO, WIRE, XMET were the poorest performing non-leveraged ETFs last week. Traders sold off the economically reliant assets, pricing-in an increasing likelihood of a global recession should Trump’s tariffs be upheld. Crude oil prices also cratered as the OPEC+ agreed to increase production by May despite low prices.2

There were $901.8 million in reported inflows for the week and $232.0 million in outflows, marking a week of net inflows for the Australian ETF industry.

Download our Weekly ETF Monitor here.

Looking for more ETF Express content? Check out this week’s Thematic Spotlight and Commodity Calls.

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