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NOVEMBER 2021: RAPID GROWTH IN THE INDUSTRY AS SHAREMARKETS BOUNCE
With both Australian and global sharemarkets performing strongly in November, the ETF industry grew rapidly reaching an all-time high of $132.8B. Read on for details, including best performers, asset flow categories and more.
Australian ETP Market Cap: August 2001 – November 2021
Source: ASX, Chi-X, BetaShares.
Market cap
- ASX Exchange Traded Product market cap: $132.8B1 – all time end-of-month high
- Market cap change for month: +4.62%, $5.9B
- Market cap growth for the last 12 months: 43.9%, + $40.5B
Comment: The industry ended November at a fresh all-time high of $132.8B total market cap, with total industry growth of $5.9B for the month. Industry growth over the last 12 months has been 43.9%, for a total of $40.5B net growth over this period.
1. Includes total FuM for ETFs trading on both ASX and Chi-X
New money
- Net new money for month (units outstanding by $ value): +$1.9B
Comment: Net flows contributed 30% of the month’s growth, with the majority of growth coming from asset value appreciation. In total, net inflows added $1.9B to the industry while total industry growth was $5.9B.
Products
- 277 Exchange Traded Products trading on the ASX and Chi-X.
Comment: We saw a number of new products enter the market in November, with 6 new funds launched including new products from 3 active managers (Perpetual, Daintree and Talaria) as well as our record-breaking Crypto Innovators ETF (ASX: CRYP), which broke records for first day trading value, as well as fastest product to reach $100M in assets1
1. Excluding conversions and seeding activity
Trading value
- Monthly trading value increased by 14% with the ASX ETF trading value reaching its second highest monthly level on record ($9.7B).
Performance
- Best performance in November came from Semiconductor exposures, China and also the Geared US Dollar Fund which rallied ~12.5%.
Top 5 category inflows (by $) – November 2021
| Category | Inflow Value |
| International Equities | $1,157,094,924 |
| Australian Equities | $665,233,132 |
| Fixed Income | $298,816,587 |
| Multi-Asset | $122,433,404 |
| Commodities | $70,479,465 |
Comment: Flows this month were heavily concentrated in international equities which contributed over 60% of the month’s flows ($1.2B), followed by Australian equities ($665m) and fixed income ($299m).
Top 5 category outflows (by $) – November 2021
| Category | Inflow Value |
| Cash | ($420,737,845) |
| Currency | ($2,167,927) |
Comment: Outflows came primarily from Cash products with investors seemingly rotating back into equities and away from cash given the continuing low interest yields available via cash deposits.
Source: Bloomberg, BetaShares.
Top sub-category inflows (by $) – November 2021
| Sub-Category | Inflow Value |
| Australian Equities – Broad | $534,000,769 |
| International Equities – Developed World | $411,301,146 |
| International Equities – Sector | $326,413,369 |
| Australian Bonds | $257,995,875 |
| International Equities – U.S. | $216,046,408 |
Top sub-category outflows (by $) – November 2021
| Sub-Category | Outflow Value |
| Cash | ($420,737,845) |
| International Equities – Emerging Markets | ($31,405,891) |
| International Equities – Asia | ($11,020,378) |
| Oil | ($8,364,663) |
| Australian Equities – Short | ($5,687,746) |
Interesting and useful review