Market Moves: Week Ending 7 March 2025

• Global defence ETFs (ARMR, DFND, DTEC) were a theme across the top performers last week after the EU announced plans to increase its defence spending by US$867 billion.¹ This stems from recent uncertainty surrounding US commitment to European security and NATO, especially as former President Trump has criticized aid to Ukraine and suggested a less predictable stance on the alliance.
• Global equity ETFs (MOGL, MKAX, XALG) suffered as markets fretted over the negative effects of prolonged tariffs in the US.² President Trump’s new stance of “short term pain for long term gain” has spooked markets. The statement runs counter to investor beliefs that the administration’s policies were short-term negotiation tactics, not a long-term strategy.
• There were $1.2 billion in reported inflows for the week and $828.4 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.