Weekly Market Monitor – Week Ending 20 January 2023
- Crypto ETFs (EBTC, EETH, CRYP) continued their hot streak last week, topping the performers chart once again as lower interest rate expectations continued to support risk assets. Bitcoin had its best weekly performance since February 2021.
- Carbon Credit ETFs (GCO2, XCO2) have struggled in recent months as a record heatwave in European winter has damped fuel demand. However prices came back slightly last week, potentially due to short cover.
- Clean energy ETFs (CLNE, ERTH, TANN, HGEN, T3MP) ranked among the worst performers last week. Many clean energy firms are European utilities companies, demand for whose product has – like carbon allowances – been reduced by the heatwave.
- There were $177.6 million in reported inflows last week, with cash and bond ETFs (AAA, SUBD) and short and leveraged funds (BBOZ, SNAS, BBUS) taking in the majority of winnings. After two strong weeks of performance from global markets, investors seem to be hedging their bets in preparation for any volatility that may come.
- There were $148.7 million in reported outflows last week, meaning the industry eked out yet another week of positive net flows.
- The top traded funds for the week were largely dominated by index trackers (VAS, A200, STW, VGS) as usual. Short equities funds (BBOZ, BBUS) also had strong showings once again as investors looked to prepare for volatility ahead.
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