Betashares Australian ETF Review: April 2023

April 2023 Review: Investor flows push industry to a new high, even as markets decline

The strong rise in global sharemarkets together with continued investor flows allowed the Australian ETF industry to once again set a new all-time high in funds under management (FuM). Read on for details, including best performers, asset flow categories and more.

 Exchanged Traded Funds Market cap

  • Australian Exchange Traded Funds Market Cap(ASX + CBOE): $146.0B – new all time high
  • ASX CHESS Market Cap: $131.0B1
  • Market cap increase for month: 2.4%, $3.4B
  • Market cap growth for last 12 months: 9.4%, $12.5B

Comment: The Australian ETF Industry’s FuM grew by 2.0% month-on-month, for a total monthly market cap increase of $2.8B. Industry funds under management ended the month at $142.6B, a new record high.

New money

  • Net inflows for month: +$0.8B

Comment: The growth this month came primarily from asset value appreciation, although investor flows remained positive, at $0.7B (25% of the monthly growth).


  • 329 Exchange Traded Products trading on the ASX
  • 2 new products launched this month, being Australian shares and fixed income ETFs, both from Global X

Trading value

      • ASX ETF trading value decreased for a full 42% for the month, for a total of $6.5B, the lowest level for over 2 years.

Comment: Over the last 12 months, we’ve seen the industry grow in size, albeit at a far slower pace than previous years – with an increase of 5.3% year on year, or $7.2B


The best performing products in April were Physical Platinum and our Crypto Innovators ETF (ASX: CRYP) both of which returned ~10% for the month

Top 5 category inflows (by $) – April 2023

Broad Category Inflow Value
Fixed Income $371,638,679
Australian Equities $289,263,251
Cash $86,310,700
Short $60,306,686
Listed Property $30,574,051


Top category outflows (by $) – April 2023


Sub-Category Inflow Value
International Equities ($37,186,469)
Commodities ($15,057,041)


Comment: Fixed Income exposures lead the way in terms of flows with the category recording the highest level of net flows this month ($350m) and also in the year to date. Broad Australian equities products also continued to receive flows, as has been the case for the year more broadly.

Top sub-category inflows (by $) – April 2023



Sub-category Inflow Value
Australian Bonds $233,280,033
Australian Equities – Broad $203,326,378
Global Bonds $116,279,190
Cash $86,310,700
Australian Equities – – E&R – ESG Lite $56,148,860

Top sub-category outflows (by $) – April 2023


Sub-Category Inflow Value
International Equities – Developed World ($141,053,073)
International Equities – Sector ($39,171,525)
Australian Equities – E&R – Ethical ($36,445,813)
Australian Equities – Geared ($22,147,067)
Gold ($10,198,388)

*Past performance is not an indicator of future performance.


Photo of Ilan Israelstam

Written by

Ilan Israelstam

Chief Commercial Officer

Investor & founder with a Financial Services & Fintech focus. Co-founder of Betashares. Passionate about entrepreneurship and startups.

Read more from Ilan.


2 comments on this

  1. Roger Leonard SMITH  /  17 May 2023

    Hi, I’m interested in an Aust ETF that specialises in high dividend returns.
    Regards, Roger Smith

    1. Patrick Poke  /  24 May 2023

      Hi Roger,

      Betashares offers a range of ETFs that aim to provide higher distributions. If you go to Funds > View all funds and then filter by “Equity income”, you’ll see our full range of equity income funds. Several of these invest in Australian equities.


Leave a reply

Your email address will not be published. Required fields are marked *

Previous article
Next article