Betashares Australian ETF Review: October 2024
Ilan Israelstam
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ETF assets dip despite positive monthly inflows
- Positive ETF inflows were not enough to offset global sharemarket declines, causing Australian ETF Industry assets to dip during April.
- April saw ETF industry assets fall less than one per cent (-0.9%) month-on-month, for a total monthly market cap decline of –$1.7B. The industry now sits at $195.0B – just shy of the all time high set last month ($196.7B).
- Notwithstanding market volatility, industry flows remained positive, albeit muted – with $1.2B of net flows for the month.
- ASX trading value was ~$11B for the month, up 22% month on month from March.
- Over the last 12 months the Australian ETF industry has grown by 5%, or $49.0B.
- It was a busy month for product launches with 11 new funds launched in April, including two new moderately geared funds over Australian and Australian and Global Equities exposures and 8 Active ETF launches.
- The best performing ETFs this month were short funds, including our BBFD Geared Short U.S. Treasury Bond Fund - Currency Hedged (hedge fund) which returned ~11% for the Energy transition metals exposures, including our XMET Energy Transition Metals ETF , also performed relatively well.
- Continuing the ongoing trend which started at the end of 2023, April was again a month where international equities products dominated in terms of the composition of net inflows, representing over half of the industry’s net flows ($544m). Australian equities returned to 2nd position for flows, followed by fixed income in 3rd spot.
- Outflows were limited to profit taking in Short funds after strong performance in April.
Market Cap
- Australian Exchange Traded Funds Market Cap (ASX + CBOE): $195.0B
- ASX CHESS Market Cap: $165.8B1
- Market Cap change for April: -0.9%, -$1.7B
- Market cap growth for last 12 months: 33.5%, $49.0B
New Money
- Net inflows for month: $1.2B
Products
- 370 Exchange Traded Products trading on the ASX & CBOE
- 11 new funds launched last month, including two new moderately geared funds over Australian and Australian and Global Equities exposures and 8 Active ETF launches
Trading Value
- Trading value increased by 22% in April, with ASX trading value of ~$11B for the month
Performance
- The best performing ETFs this month were short funds, including our BBFD Geared Short U.S. Treasury Bond Fund - Currency Hedged (hedge fund) which returned ~11% for the month. Energy transition metals exposures, including our XMET Energy Transition Metals ETF , also performed relatively well.
Top 5 category inflows (by $)
| Broad Category | Inflow Value |
| International Equities | $543,754,138 |
| Australian Equities | $317,505,990 |
| Fixed Income | $236,995,532 |
| Multi-Asset | $61,705,112 |
| Commodities | $51,450,596 |
Top category outflows (by $)
| Broad Category | Inflow Value |
| Short | ($30,607,971) |
Top sub-category inflows (by $)
| Sub-category | Inflow Value |
| International Equities – US | $316,673,124 |
| International Equities – Sector | $254,570,124 |
| Australian Equities – Broad | $237,359,516 |
| Global Bonds | $147,505,329 |
| Australian Bonds | $105,639,966 |
Top sub-category outflows (by $)
| Sub-category | Inflow Value |
| International Equities – Asia | ($131,470,481) |
| Australian Equities – Short | ($31,722,386) |
| Australian Equities – Sector | ($31,063,542) |
| Fixed Income – E&R – ESG Lite | ($23,835,501) |
| International Equities – Europe | ($20,809,925) |
Top Performing Products – April 2024
| Ticker | Product Name | Performance |
| SNAS | Global X Ultra Short Nasdaq 100 Hedge Fund | 11.7% |
| BBFD | Betashares Geared Short U.S. Treasury Bond Fund-Currency Hedged(Hedge Fund) | 11.5% |
| WIRE | Global X Copper Miners ETF | 10.5% |
| BBUS | Betashares US Equities Strong Bear Currency Hedged (Hedge Fund) | 10.5% |
| XMET | Betashares Energy Transition Metals ETF | 10.4% |
Footnotes:
1 Since February 2023, the ASX started reporting additional data on a CHESS-only basis. The primary use of such data is that it will exclude, amongst other things, the FuM and Flows in ‘dual class’ Active ETFs and potentially provide a more accurate picture of exchange traded activity.
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1 comment on this
I am grateful that I had the opportunity to invest heavily in Betashares ETF’s and made a considerable profit. Then, timely, I sold up all and invested in PMGOLD, and made another big hit. As our FED and RB keep lying to us about the state of inflation, I will secure my future by staying in GOLD for the next few years. All ETF’s will take a big hit from now on.