Betashares Australian ETF Review: September 2024
Matthew Reeves
4 minutes reading time
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Australian ETF industry breaks annual net flow record
- Continued strong net flows into the Australian ETF industry sees the annual record set during 2021 tumble, with two months still remaining in the year.
- Year to date industry net flows to October were $23.7B, passing the previous annual record of $23.2B set in 2021. This trend is very similar to the experience overseas, with 2024 set to be a record breaking for the ETF industry both home and abroad.
- More generally, strong net flows combined with positive market movements, pushed the Australian ETF industry to a new all-time high in assets under management.
- October saw the ETF industry continue its strong momentum. The industry rose by 2.5% for the month, with the total market cap increasing by $5.6B. Total industry assets now stand at $232.5B – a new all-time record high.
- Industry flows were very strong with $3.2B recorded for the month, the second all-time highest level for monthly flows on record.
- ASX trading value was slightly higher month on month, at ~$11.9B for October.
- Over the last 12 months the Australian ETF industry has grown by 52%, or $79.6B.
- In terms of product launches, there were 4 new funds launched in October, including a moderately geared exposure to the GNDQ Wealth Builder Nasdaq 100 Geared (30-40% LVR) Complex ETF and the ARMR Global Defence ETF . Conversely, a climate transition focused active ETF was closed.
- Digital asset exposures performed well, including the CRYP Crypto Innovators ETF .
- October was another strong month for International Equities products ($1.2B), whilst Fixed income products also saw a strong month ($974 million), as did Australian Equities ($833 million).
- Short funds ($8.6 million) and listed property ($500k) received very small redemptions over the month.
Australian ETF Industry AuM: July 2001 – October 2024
CAGR: Compound Annual Growth Rate. Source: ASX, CBOE
Market Cap
- Australian Exchange Traded Funds Market Cap (ASX + CBOE): $232.5B – all time high
- ASX CHESS Market Cap: $197.02B1
- Market Cap change for October: 5%, $5.6B
- Market cap growth for last 12 months: 52%, $79.6B
New Money
- Net inflows for month: $3.2B
Products
- 399 Exchange Traded Products trading on the ASX & CBOE
- In terms of product launches, there were 4 new funds launched in October, including a moderately geared exposure to the Nasdaq-100 (ASX: GNDQ) and the Global Defence ETF (ASX: ARMR). Conversely, a climate transition focused active ETF was closed.
Trading Value
- ASX trading value was high at ~$11.9B for the month.
Performance
- A palladium ETF exposure was the top performer, followed by digital asset exposures that included the Crypto Innovators ETF (ASX: CRYP).
Industry Net Flows
Top Category Inflows (by $) – Month
| Broad Category | Inflow Value |
|---|---|
| International Equities | $1,242,433,066 |
| Fixed Income | $974,179,259 |
| Australian Equities | $832,607,850 |
| Multi-Asset | $115,446,209 |
| Commodities | $74,571,780 |
Top Category Outflows (by $) – Month
| Broad Category | Inflow Value |
|---|---|
| Short | ($8,646,052) |
| Listed Property | ($546,353) |
Top Sub-Category Inflows (by $) – Month
| Sub-Category | Inflow Value |
|---|---|
| Australian Equities – Broad | $706,376,944 |
| Australian Bonds | $691,124,049 |
| International Equities – Developed World | $616,956,266 |
| Global Bonds | $279,810,772 |
| International Equities – US | $257,824,033 |
Top Sub-Category Outflows (by $) – Month
| Sub-Category | Inflow Value |
|---|---|
| Australian Equities – Sector | ($25,432,731) |
| Australian Listed Property | ($23,439,344) |
| Australian Equities – Short | ($16,690,454) |
| International Equities – E&R – Ethical | ($6,061,816) |
| International Equities – E&R – Sustainability | ($3,015,997) |
Performance
Top Performing Products – Month
| Ticker | Product Name | Performance (%) |
|---|---|---|
| ETPMPD | Global X Physical Palladium | 19.3% |
| CRYP | Betashares Crypto Innovators ETF | 18.8% |
| IBTC | Monochrome Bitcoin ETF | 18.1% |
| BTXX | DigitalX Bitcoin ETF | 17.4% |
| EBTC | Global X 21Shares Bitcoin ETF | 17.2% |
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.
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