Betashares Australian ETF Review: January 2024

Industry exceeds $180B as investors move back into equities

  • The Australian ETF industry hit a new all-time high in assets under management in January with the industry growth driven by a combination of asset value appreciation and investor net inflows.
  • In the first month of 2024, assets grew 3.2% month-on-month, for a total monthly market cap increase of $5.6B, with the industry reaching a new all-time high of $183.1B.
  • Net inflows represented ~30% of the industry’s growth in January, with net inflows of $1.7B, a robust result in what is typically the quietest month of the year.

Source: ASX, CBOE

 Exchanged Traded Funds Market cap

  • Australian Exchange Traded Funds Market Cap (ASX + CBOE): $183.1B – New all-time high
  • ASX CHESS Market Cap: $156.1.2B1
  • Market Cap increase for month: 3.2%, $5.6B
  • Market cap growth for last 12 months: 32.2%, $44.6B

Net Flows

  • Net flows for the month: $1.7B

New Products

  • 367 Exchange Traded Products trading on the ASX & CBOE
  • No new or closed products in January

Trading value

  • Trading value rose by -20% in January, with ASX trading value of ~$8B for the month


Top 5 category inflows (by $)

Broad Category Inflow Value
International Equities $985,376,256
Australian Equities $717,465,478
Fixed Income $67,033,367
Cash $55,963,646
Short $26,177,886

Top category outflows (by $)

Broad Category Inflow Value
Commodities ($86,076,776)
Listed Property ($71,495,150)



Top sub-category inflows (by $)

Sub-category Inflow Value
Australian Equities – Broad $790,375,256
International Equities – Developed World $575,839,972
International Equities – US $187,530,812
International Equities – Sector $125,193,066
Australian Bonds $104,006,727


Top sub-category outflows (by $)

Sub-category Inflow Value
Australian Equities – Sector ($83,291,028)
Gold ($82,610,832)
Australian Listed Property ($81,428,324)
Global Bonds ($47,010,028)
International Equities – E&R – Impact ($33,647,014)

Top Performing Products – 2023

Ticker Product Name Performance
URNM Betashares Global Uranium ETF 16.4%
ATOM Global X Uranium ETF 13.3%
HJPN Betashares Japan ETF – Currency Hedged 9.3%
MKAV Montaka Global Extension Fund 8.9%
YANK Betashares Strong US Dollar Fund (Hedge Fund) 8.8%


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.

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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