Summary –
Australia – Commodities Rebound as Risk Appetite Returns to Markets
The Global ETF landscape for the week ending November 14, 2025 showed a marked reversal in sentiment, with commodities and precious metals leading gains while cryptocurrency and technology exposures experienced sharp corrections, and bearish strategies continued to unwind.
Performance
For the week ending November 14, 2025, the Betashares Energy Transition Metals ETF (XMET) led weekly returns with a 6.5% gain, followed by Betashares Global Gold Miners ETF (Hedged) (MNRS) at 6.1% and VanEck Australian Resources ETF (MVR) at 5.7%. Global X Physical Silver (ETPMAG) and VanEck Gold Miners ETF (GDX) also posted solid weekly gains above 5%, signaling renewed interest in resource and precious metal exposures. Betashares Global Healthcare ETF (Hedged) (DRUG) rounded out the top performers at 4.3%.
On the downside, cryptocurrency ETFs experienced severe declines for the second consecutive week, with Betashares Crypto Innovators ETF (CRYP) down -19.1%, Betashares Ethereum ETF (QETH) falling -10.6%, and Betashares Bitcoin ETF (QBTC) dropping -10.2%. Technology and uranium exposures remained under pressure, with Global X Hydrogen ETF (HGEN) declining -10.2%, Global X Uranium ETF (ATOM) falling -7.1%, and Betashares S&P/ASX Australian Technology ETF (ATEC) down -5.4%.
Year-to-date, Betashares Global Gold Miners ETF (Hedged) (MNRS) strengthened its leadership position at 120.2%, closely followed by VanEck Gold Miners ETF (GDX) at 114.7%. Over a 12-month horizon, GDX led with 116.6%, followed by MNRS at 114.9%. Global X Hydrogen ETF (HGEN) moderated to 92.5%, while Global X Physical Silver (ETPMAG) surged to 70.8% and Global X Battery Tech & Lithium ETF (ACDC) maintained strong performance at 66.8%, while bearish ETFs such as SNAS and BBUS remained deep in negative territory with losses exceeding -31%.
Flows & Turnover
Weekly flows showed significant activity in core Australian equities, with Betashares Australia 200 ETF (A200) recording the largest inflow at A$114.4 million, followed by Betashares Australian High Interest Cash ETF (AAA) at A$80.7 million. Resource exposure also attracted capital, with SPDR S&P/ASX 200 Resources Fund (OZR) seeing inflows of A$28.4 million. Conversely, iShares MSCI South Korea Capped ETF (IKO) experienced the largest outflow at -A$50.7 million, while BBOZ and VanEck Gold Miners ETF (GDX) also saw notable redemptions.
Vanguard Australian Shares Index ETF (VAS) continued to dominate 12-month inflows with A$4.08 billion, unchanged from the prior week, followed by VGS at A$2.38 billion and A200 at A$2.04 billion. Vanguard Global Aggregate Bond Index (Hedged) ETF (VBND) and VGAD also maintained strong 12-month inflows, each exceeding A$1.4 billion.
In terms of turnover, VAS significantly increased its weekly average daily turnover to A$258.2 million—a notable surge from the prior week—followed by AAA at A$33.0 million and VGS at A$31.1 million. Global X Physical Gold (GOLD) saw heightened liquidity with weekly turnover jumping to A$20.7 million, reflecting increased trading activity in precious metals.
The week highlighted a rotation back into commodities and resource exposures following the prior week’s defensive positioning, while cryptocurrency assets faced continued selling pressure. Investor flows remained concentrated in core equity and cash management ETFs, with increasing interest in precious metals and energy transition themes.
USA – Flow Trends
ETF flows surged again, with investors adding $43.4 billion to U.S.-listed ETFs for the week ending November 14, 2025, pushing year-to-date inflows to a record-breaking $1.17 trillion, surpassing previous highs and reinforcing the strength of ETF demand despite market volatility and rising Treasury yields.
U.S. equity ETFs led with $22.5 billion in inflows, followed by U.S. fixed income ETFs at $7.8 billion and international equities at $7.5 billion. International fixed income ETFs added $3.7 billion, while leveraged products attracted $2.7 billion. Commodity ETFs gained $1.2 billion, whereas currency ETFs saw $1.7 billion in outflows, signaling a preference for core exposures.
Among top-performing funds, the Vanguard S&P 500 ETF (VOO) led with $6.6 billion in inflows, extending its year-to-date total to $112 billion, the highest of any ETF in 2025. The iShares Core S&P 500 ETF (IVV) followed with $3.6 billion, while the iShares 7–10 Year Treasury Bond ETF (IEF) drew $3.5 billion, reflecting strong demand for duration despite yields holding above 4.1%. The iShares Russell 2000 ETF (IWM) added $1.5 billion, suggesting some positioning for a small-cap rebound. International exposure was supported by iShares Core MSCI EAFE ETF (IEFA) and iShares Core MSCI Emerging Markets ETF (IEMG), which brought in $1.3 billion and $1.2 billion, respectively.
On the outflows side, the SPDR S&P 500 ETF Trust (SPY) led with $1.7 billion in redemptions. The iShares MBS ETF (MBB) lost $1.3 billion, while long-duration Treasury funds like SPDR Portfolio Long Term Treasury ETF (SPTL) shed $1.2 billion. Crypto-linked ETFs also faced heavy losses, with Fidelity Wise Origin Bitcoin Fund (FBTC) and others collectively losing nearly $1 billion as bitcoin fell below $95,000.
Overall, flows were broad-based across equities and bonds, with modest outflows in currency and crypto products. Despite market pullbacks, ETF demand remains resilient, signalling investor confidence in diversified strategies.
ETF Weekly Summary
| Name | CODE | Closing Price | ∆ Week Price ($) | 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