Weekly Market Monitor – Week Ending 2 June 2023
- Uranium and nuclear energy ETFs (ATOM, URNM) topped the performance charts last week as the ADVANCE (Accelerating Deployment of Versatile Advanced Nuclear for Clean Energy Act of 2023) Act passed the US Senate Environmental & Public Works committee. The Act’s main objective is to strengthen America’s domestic nuclear fuel cycle and supply chain infrastructure in order to limit Russian and Chinese reliance.
- Carbon allowance funds (GCO2, XCO2) had another week of underperformance as traders considered the United Nation’s progress toward interpreting what truly counts as a carbon allowance. The final decision of which could be key in defining global carbon markets for decades to come.
- There were $587.8 million in reported industry inflows last week, a large portion of which could be attributed to bond and income ETFs (AAA, SUBD, VAF, VACF, VBND, VGB).
- There were $275.7 million in reported outflows, marking another week of net inflows for the Australian ETF industry.
- Broad-base index tracking funds (A200, IOZ, IVV, NDQ, VAS, VGS) were the top traded funds for the week as usual.
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