Betashares Australian ETF Review: March 2024

International equities products drive the industry towards $200B

  • The Australian ETF industry hit a new all-time high in assets under management in March, ending just shy of the $200B milestone, with industry growth driven by a combination of asset value appreciation and investor net inflows.
  • March saw assets grow 3.9% month-on-month, for a total monthly market cap increase of $7.3B, with the industry reaching a new all-time high of $196.7B.
  • Net inflows for the month were $1.8B, representing ~25% of the industry’s growth in March.
  • Trading value declined marginally, dropping 9% month on month in March, with ASX trading value of ~$9B for the month.
  • Over the last 12 months the industry has grown by 37.9%, or $54.1B.

 Exchanged Traded Funds Market cap

  • Australian Exchange Traded Funds Market Cap (ASX + CBOE): $196.7B – New all-time high
  • ASX CHESS Market Cap: $168.1B1
  • Market Cap increase for month: 3.9%, $7.3B
  • Market cap growth for last 12 months: 37.9%, $54.1B

Net Flows

  • Net flows for the month: $1.8B

New Products

  • 359 Exchange Traded Products trading on the ASX & CBOE
  • No new launches or fund closures this month

Trading value

  • Trading value declined by 9% in March, with ASX trading value of ~$9B for the month


  • The best performing ETFs this month were gold miners ETFs, including our MNRS Global Gold Miners ETF which returned ~19% for the month. Bitcoin and Crypto exposures also performed relatively well, albeit not at the rate experienced in February.

Top 5 category inflows (by $)

Broad Category Inflow Value
International Equities $834,862,479
Fixed Income $453,435,632
Australian Equities $396,415,252
Listed Property $80,773,032
Multi-Asset $35,884,782

Top category outflows (by $)

Broad Category Inflow Value
Commodities ($27,444,446)

Top sub-category inflows (by $)

Sub-category Inflow Value
Australian Bonds $338,182,681
Australian Equities – Broad $336,060,091
International Equities – Developed World $285,524,903
International Equities – US $274,997,820
International Equities – Sector $143,269,094

Top sub-category outflows (by $)

Sub-category Inflow Value
US Equities – Short ($16,910,250)
Australian Equities – Geared ($15,072,848)
Gold ($10,163,396)
Oil ($9,616,000)
Australian Equities – Sector ($6,167,000)

Top Performing Products – March 2024

Ticker Product Name Performance
GDX VanEck Gold Miners ETF 19.4%
MNRS Betashares Global Gold Miners ETF – Currency Hedged 19.3%
WIRE Global X Copper Miners ETF 16.6%
EBTC Global X 21Shares Bitcoin ETF 13.2%
CRYP Betashares Crypto Innovators ETF 12.2%


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.


1 comment on this

  1. Nick Ng  /  18 April 2024

    Last 4 months, Australian Bonds, achieved the highest inflow. Could you please provide the top 5 Australian Bonds with the highest inflow?

    Thank You


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