ETFs

Summary – 

Australia – Defensive Positioning and Market Rotation Signal Cautious Sentiment

The Global ETF landscape for the week ending November 7, 2025 reflected a notable shift toward defensive positioning, with inverse equity strategies outperforming while cryptocurrency and uranium exposures faced significant headwinds.

Performance

For the week ending November 7, 2025, the Global X Ultra Short Nasdaq 100 Complex ETF (SNAS) led weekly returns with a 7.9% gain, followed by Betashares US Equities Strong Bear HF – Hedged (BBUS) at 4.0% and Savana US Small Caps Active ETF (SVNP) at 3.6%. VanEck Global Healthcare Leaders ETF (HLTH) and Betashares Australian Equities Strong Bear (BBOZ) also posted solid weekly gains above 3%, indicating risk-off sentiment.

On the downside, cryptocurrency ETFs faced sharp declines, with Betashares Ethereum ETF (QETH) down -9.7%, Monochrome Ethereum ETF (IETH) falling -11.8%, and Global X 21Shares Ethereum ETF (EETH) dropping -13.7%. Uranium strategies reversed course from the prior week, with Global X Uranium ETF (ATOM) declining -13.3% and Betashares Global Uranium ETF (URNM) down -14.1%.

Year-to-date, Global X Hydrogen ETF (HGEN) maintained its leadership position at 115.7%, followed by VanEck Gold Miners ETF (GDX) at 91.7%, Betashares Global Gold Miners ETF (Hedged) (MNRS) at 83.9% and Global X Defence Tech ETF (DTEC) at 69.9%. Over a 12-month horizon, HGEN, MNRS, and GDX all posted returns above 83%, while bearish ETFs such as SNAS and BBUS remained deep in negative territory with losses exceeding -30%.

Flows & Turnover

Vanguard Australian Shares Index ETF (VAS) continued to dominate 12-month inflows with A$4.08 billion, followed by VGS at A$2.38 billion and VBND at A$1.99 billion, indicating sustained investor preference for core equity and fixed income exposure. Betashares Australia 200 ETF (A200) and iShares Core S&P 500 (IVV) also saw strong inflows, each exceeding A$1.5 billion.

In terms of turnover, VAS maintained its leadership position with a weekly average daily turnover of A$46.8 million, followed by Betashares Australian High Interest Cash ETF (AAA) at A$42.5 million and Betashares NASDAQ 100 (NDQ) at A$33.0 million. Global X Physical Gold (GOLD) continued to attract liquidity with weekly turnover of A$16.6 million.

The week highlighted a notable rotation into defensive strategies and away from higher-risk thematic exposures, while investor flows remained concentrated in diversified equity, bond, and cash management ETFs.

USA – Flow Trends

ETF flows surged again, with investors adding $43 billion to U.S.-listed ETFs for the week ending November 7, 2025, pushing year-to-date inflows above $1.14 trillion—a new record surpassing 2024’s total. Despite market volatility and profit-taking in tech, ETF demand remained resilient.

U.S. equity ETFs dominated with $25 billion in inflows, followed by U.S. fixed income ETFs at $8.9 billion and international equities at $7.4 billion. Currency and commodity ETFs saw outflows of $729 million and $169 million, respectively, as investors shifted toward core exposures.

Among top-performing funds, the SPDR S&P 500 ETF Trust (SPY) led with $12 billion in inflows, followed by Invesco QQQ Trust (QQQ) at $2.8 billion and Vanguard S&P 500 ETF (VOO) at $2.4 billion. VOO’s year-to-date intake now exceeds $105 billion, cementing its position as 2025’s top asset gatherer. Tech-related ETFs also attracted attention: VanEck Semiconductor ETF (SMH) added $1.3 billion, while ProShares UltraPro QQQ (TQQQ) drew $1.2 billion as traders bought the AI dip. The iShares 0–3 Month Treasury Bond ETF (SGOV) saw $1.4 billion in inflows, reflecting strong demand for short-term Treasuries amid rising yields.

International exposure was supported by steady flows into developed market ETFs, while leveraged products gained traction from aggressive traders.

On the outflows side, the SPDR Dow Jones Industrial Average ETF (DIA) led with $1.7 billion in redemptions. Vanguard Information Technology ETF (VGT) shed $1.3 billion, and Schwab U.S. Large-Cap Growth ETF (SCHG) lost $935 million. The iShares Bitcoin Trust (IBIT) also saw nearly $600 million in outflows as bitcoin briefly dipped below $100,000.

Overall, flows were broad-based across equities and bonds, with modest outflows in commodities and currency ETFs. Despite market pullbacks and higher Treasury yields, investor appetite for ETFs remains strong, signaling confidence in diversified, liquid strategies.

ETF Weekly Summary

Name	CODE	Closing Price	∆ Week Price ($)	1 Mth Return (%)	1 Yr Return (%)	Running Yield(%)	Market Cap (in Mill.)
BetaShares Australian High Interest Cash ETF	AAA.AXW	50.16	0.04	0.33	4.13	4.13	4,692.27
BetaShares Australian Government Bond ETF	AGVT.AXW	42.02	-0.28	-1.07	7.38	3.68	1,078.73
BetaShares Australian Major Bank Hybrids Index ETF	BHYB.AXW	9.88	-0.01	0.29	4.22	6.37	632.01
iShares Core Cash ETF	BILL.AXW	100.55	0.04	0.29	4.14	4.01	1,050.04
SPDR S&P/ASX Australian Bond Fund ETF	BOND.AXW	25.79	-0.13	-0.5	6.76	2.21	44.44
BetaShares Legg Mason Australian Bond Fund	BNDS.AXW	23.77	-0.12	-0.62	6.54	4	858.92
BetaShares Australian Investment Grade Corporate Bond ETF	CRED.AXW	23.5	-0.15	-0.93	8.54	4.85	1,556.90
Daintree Hybrid Opportunities ETF	DHOF.AXW	9.71	0	-0.21	3.37	3.61	50.52
Elstree Hybrid Fund ETF	EHF1.CXA	5.16	-0.04			5.73	41.06
Daintree Core Income Fund ETF	DCOR.AXW	51.79	0.05	0.33		1	63.2
VanEck Vectors Australian Floating Rate ETF	FLOT.AXW	24.99	0.05	0.44	4.92	4.72	895.01
BetaShares Sustainability Leaders Diversified Bond Hedged ETF	GBND.AXW	20.73	0	0.05	3.94	3.18	217.22
BetaShares Global Government Bond 20+ Year ETF – Currency Hedged	GGOV.AXW	13.45	-0.02	-0.96	2.8	3.12	157.61
Janus Henderson Sustainable Credit Active ETF	GOOD.AXW	50.94	-0.16	-0.28	2.65	4.67	2.56
SPDR S&P/ASX Australian Government Bond Fund ETF	GOVT.AXW	24.58	-0.14	-0.77	6.59	2.68	68.31
BetaShares Active Australian Hybrids Fund ETF	HBRD.AXW	10.14	0.03	0.53	5.07	5.96	2,546.35
BetaShares Interest Rate Hedged Australian Investment Grade Corporate Bond ETF	HCRD.AXW	25.53	0	0.14	7.08	4.65	89.63
iShares Core Composite Bond ETF	IAF.AXW	102.91	-0.37	-0.74	6.25	2.9	3,499.83
iShares Treasury ETF	IGB.AXW	98.44	-0.47	-0.84	5.49	3.07	416.24
iShares Global High Yield Bond ETF	IHHY.AXW	93.93	0.31	0.75	7.2	5.65	339.58
iShares Core Global Corporate Bond ETF	IHCB.AXW	92.33	-0.23	-0.19	5.9	4.49	317.38
iShares J.P. Morgan USD Emerging Markets Bond ETF	IHEB.AXW	78.56	0.17	1.39	11.72	5.8	104.02
iShares Government Inflation ETF	ILB.AXW	127.48	-0.22	-0.84	4.98	1.6	1,017.60
iShares Enhanced Cash ETF	ISEC.AXW	100.62	0.09	0.32	4.27	4.22	371.37
Betashares Australian Composite Bond ETF	OZBD.AXW	44.84	-0.26	-0.88	7.03	3.92	958.93
VanEck Vectors Australian Corporate Bond Plus ETF	PLUS.AXW	17.16	-0.08	-0.52	7.17	4.08	405.77
BetaShares Australian Bank Senior Floating Rate Bond ETF	QPON.AXW	26.16	0	0.33	5.2	4.56	1,781.91
Russell Australian Select Corporate Bond ETF	RCB.AXW	20.19	-0.04	-0.39	5.21	4.61	326.74
Russell Australian Government Bond ETF	RGB.AXW	19.23	-0.13	-0.93	6.64	2.62	256.29
Russell Australian Semi-Government Bond ETF	RSM.AXW	20.81	-0.07	-0.62	5.46	1.43	59.46
VanEck Vectors Australian Subordinated Debt ETF	SUBD.AXW	25.26	-0.01	0.44	5.78	5.6	3,111.39
VanEck 1-3 Month US Treasury Bond ETF	TBIL.AXW	51.22	-0.54	-0.5	3	4.18	143.36
US Treasury Bond 7-10 Year Currency Hedged ETF	US10.AXW	51.75	-0.02	0.08	6.92	3.14	26.96
Betashares Inflation Protected US Treasury Bond (Hedged) ETF	UTIP.AXW	26.05	0.04	-0.42	5.96	3.2	190.19
Vanguard Australian Corporate Fixed Interest ETF	VACF.AXW	51.86	-0.2	-0.5	6.23	3.8	752.31
Vanguard Australian Fixed Interest Index ETF	VAF.AXW	46.3	-0.19	-0.77	6.15	3.05	3,181.66
Vanguard Global Aggregate Fixed Interest Index Hedged ETF	VBND.AXW	42.64	0	0	4.82	2.55	3,982.22
Vanguard International Credit Securities Index ETF	VCF.AXW	39.44	-0.08	-0.15	5.61	3.11	183.91
Vanguard Ethically Conscious Global Aggregate Bond Index Hedged ETF	VEFI.AXW	43.08	-0.07	0.05	4.23	2.91	78.63
Vanguard Australian Government Bond Index ETF	VGB.AXW	46.9	-0.2	-0.78	6.27	3.27	1,291.20
Vanguard International Fixed Interest Index ETF	VIF.AXW	39.1	-0.01	0.03	3.45	2.09	971.28
ActiveX Ardea Real Outcome Bond Fund ETF	XARO.AXW	24.74	0.06	0.49	6.18	1.58	168.41

^{*Closing price as of the end of the week. Returns in AUD before fees}