Betashares Australian ETF Review: January 2023

January 2023 Review: New Year, new all-time highs!

The year 2023 started with a bang for the Australian ETF industry, with the global sharemarket rebound and net investor inflows causing the industry to grow to a new all-time high in assets under management. 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): $138.5B – new all time high
  • Market cap increase for month: 3.6%, $4.7B
  • Market cap growth for last 12 months: 5.1%, $6.7B

Comment: The Industry’s AuM grew 3.6%, for a total monthly market cap increase of $4.7B. Industry assets under management ended the first month of the year at $138.5B, eclipsing the all-time record set back in December 2021.

New money

  • Net inflows for month: +$0.6B

Comment: The sharemarket rally contributed the bulk of industry growth this month, with only ~12% of the growth attributable to net flows (net new money), which amounted to $0.6B.


  • 322 Exchange Traded Products trading on the ASX
  • 3 new products launched this month 3 active ETFs and 2 new issuers on ASX: Milford launched an Australian hedge fund and Alphinity launched two global equity Active ETFs

Trading value

  • ASX ETF trading value increased 5.1% for the month, for a total of $7B


It was a dramatically positive month for performance in the crypto space which recorded a significant turnaround. As such our CRYP Crypto Innovators ETF was the best performer in the industry this month, returning ~48% for the month. Tech also rebounded heavily and so tech-focused exposures rallied – our IBUY Online Retail and E-Commerce ETF , for example, returning 15% for the month.

Top 5 category inflows (by $) – January 2023

Broad Category Inflow Value
Fixed Income $233,246,076
International Equities $169,446,625
Short $147,560,057
Cash $135,908,948
Multi-Asset $11,655,465


Top category outflows (by $) – January 2023


Broad Category Inflow Value
Commodities ($42,411,808)
Australian Equities ($37,916,695)
Listed property ($16,002,534)
Currency ($3,682,746)


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



Sub-category Inflow Value
Cash $135,908,948
International Equities – US $100,372,366
US Equities – Short $98,498,916
Global Bonds $97,284,639
Australian Bonds $97,127,400

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


Sub-category Inflow Value
Australian Equities – Sector ($62,074,626)
International Equities – Sector ($43,855,303)
Australian Equities – E&R – ESG Lite ($43,634,390)
Gold ($42,139,876)
International Equities – Europe ($39,199,886)

Comment: As has been the case for the last few months, we once again saw the Fixed Income category receiving the highest level of inflows ($233m) followed by International equities ($169m), with investors this month shunning the usually popular Australian equities category which received net outflows of $38m. Notably, however, and notwithstanding the strong gains for the month, investors continued to buy Short exposures which received ~$150m of net inflows – potentially illustrating that investors believe the worst is not yet over for the sharemarkets.

Finally, this month we saw a notable, and rare, change at the top end of the ETF manager ‘league table: Betashares jumping a place to become the 2nd largest ETF manager in Australia ahead of iShares as at end January.

*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.


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