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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