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Weekly Market Monitor – Week Ending 25 November 2022

Top performing ETFs last week were made up heavily of Australian REITs and gold miners. Gold miners benefitted from rebounding gold prices (GDX, MNRS). While AREITs saw a small recovery as bond traders priced in less hawkish rate rises (VAP, SLF, MVA).
Bottom performers prominently featured China (IAA, IZZ, ASIA, CNEW). China was racked by Covid lockdowns and related protests, dampening its equity market.
The industry saw $216 million in reported inflows. STW took one-third of these inflows by itself. Currency hedged ETFs saw continued appeal, (QHAL, IHOO) as investors saw the Aussie dollar as potentially undervalued.
The Global X US Treasury Bond ETF (Currency Hedged) (USTB) saw the second most inflows. US Treasuries have had one of their worst years in decades, suggesting, to some, a buying opportunity.
There were $138.8 million in reported outflows, suggesting another net inflow week. IOZ and AAA made up the bulk of these.
Trading volumes centred around the usual suspects, with the most heavily traded ETFs for the week resembling those for the year.

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Authored by: David Tuckwell

Date:
Nov 29, 2022

Category:
Reports

Topics:
Weekly ETF Monitor

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