Summary –
Australia – Asian Technology and Uranium Rally as Precious Metals Retreat
The Global ETF landscape for the week ending January 2, 2026 witnessed strong gains in Asian technology and uranium exposures alongside cryptocurrency and emerging market themes, while precious metals mining and physical commodity holdings faced profit-taking after their extended rallies throughout 2025.
Performance
For the week ending January 2, 2026, iShares MSCI South Korea Capped ETF (IKO) led weekly returns with an 8.1% gain, followed by Betashares Asia Technology Tigers ETF (ASIA) at 7.4% and Betashares Ethereum ETF (QETH) at 6.6%. iShares Asia 50 ETF (IAA) and Global X 21Shares Ethereum ETF (EETH) both posted gains of approximately 5.9%, while Betashares Global Uranium ETF (URNM) rose 4.8% and Global X Ultra Short Nasdaq 100 Complex ETF (SNAS) gained 4.6%. Global X Semiconductor ETF (SEMI), JPMorgan Emerging Markets Research Enhanced Index Equity Active ETF (JEME), and Ellerston Asia Growth Fund (EAFZ) rounded out the top performers with gains above 3.4%, signaling renewed appetite for Asian and technology exposures.
On the downside, precious metals mining and physical commodity exposures faced sharp reversals, with Global X Physical Palladium (ETPMPD) plunging -9.8%, Montaka Global Extension (MKAX) and Global X Physical Platinum (ETPMPT) both declining -6.8%, and Global X Ultra Long Nasdaq 100 Complex ETF (LNAS) falling -4.5%. Global X Cybersecurity ETF (BUGG) dropped -4.3%, while VanEck Gold Miners ETF (GDX) and Betashares Global Gold Miners ETF (Hedged) (MNRS) declined -3.8% and -3.7% respectively. Global X S&P Biotech ETF (CURE), Hyperion Global Growth Companies Fund (HYGG), and Betashares Cloud Computing ETF (CLDD) also experienced losses around -3.2% to -3.4%.
Over a 12-month horizon, Betashares Global Gold Miners ETF (Hedged) (MNRS) finished with a commanding 139.2% return, followed by Global X Physical Silver (ETPMAG) at 133.2% and VanEck Gold Miners ETF (GDX) at 129.8%. Global X Physical Platinum (ETPMPT) achieved 113.9%, while Betashares Energy Transition Metals ETF (XMET) recorded 93.6% and iShares MSCI South Korea Capped ETF (IKO) reached 85.9%. Global X Green Metal Miners ETF (GMTL) and Global X Copper Miners ETF (WIRE) posted gains of 83.1% and 79.4% respectively. Bearish strategies remained deeply negative, with SNAS at -33.3% and Betashares US Equities Strong Bear HF – Hedged (BBUS) at -37.6%, while cryptocurrency losses persisted with Global X 21Shares Ethereum ETF (EETH) down -17.6% and multiple bitcoin ETFs showing losses above -14%.
Flows & Turnover
Weekly flows showed concentrated activity in quality and global equity exposures, with VanEck MSCI World Ex-Australia Quality ETF (QUAL) recording a substantial inflow of A$60.5 million, followed by iShares Core S&P 500 (IVV) at A$45.2 million. Betashares Australia 200 ETF (A200) attracted A$43.8 million, while Betashares Global Shares ETF (BGBL) saw inflows of A$40.5 million. Betashares NASDAQ 100 (NDQ) recorded A$27.8 million in inflows, reflecting renewed interest in U.S. technology. Global X Physical Silver (ETPMAG) attracted A$21.6 million despite modest weekly gains. Conversely, iShares S&P/ASX 200 ETF (IOZ) experienced the largest outflow at -A$21.1 million, while Betashares Australian High Interest Cash ETF (AAA) saw significant redemptions of -A$15.1 million as investors rotated away from cash holdings.
Over 12 months cumulative flows showed Vanguard Australian Shares Index ETF (VAS) leading with A$3.06 billion, down from prior reporting periods, followed by Vanguard MSCI Index International Shares (VGS) at A$2.40 billion and Betashares Australia 200 ETF (A200) at A$2.08 billion. Vanguard Global Aggregate Bond Index (Hedged) ETF (VBND) recorded A$1.83 billion, while VHY reached A$1.47 billion. Betashares Global Shares ETF (BGBL) strengthened to A$1.42 billion, VGAD recorded A$1.35 billion, and VanEck Australian Subordinated Debt ETF (SUBD) achieved A$1.18 billion in 2025 cumulative flows.
In terms of turnover, Global X Physical Silver (ETPMAG) saw exceptional weekly average daily turnover of A$41.9 million, reflecting heightened trading activity despite the week’s modest performance. Vanguard MSCI Index International Shares (VGS) recorded turnover of A$22.9 million, while VAS saw A$19.8 million and iShares Core S&P 500 (IVV) recorded A$19.1 million. Betashares Australian High Interest Cash ETF (AAA) maintained turnover of A$19.0 million, while Global X Physical Gold (GOLD) saw A$16.8 million in weekly trading activity.
The week highlighted a significant rotation into Asian technology and emerging market exposures as investors positioned for 2026, while taking profits from precious metals and commodity exposures that delivered exceptional returns throughout 2025. Quality international equity strategies attracted substantial inflows, while cash holdings experienced notable redemptions, suggesting investors were redeploying capital into risk assets entering the New Year.
USA – Flow Trends
ETF investors added 42.8 billion dollars to U.S.-listed ETFs during the holiday shortened week ending January 2, 2026. Because the week bridged two calendar years, with only one trading day falling in 2026, most of the flows reflected the strong year‑end momentum from late 2025 rather than new positioning for the start of 2026.
U.S. equity ETFs led the week with 30.5 billion dollars in inflows as investors focused heavily on broad market exposure instead of sector specific or thematic strategies. Fixed income ETFs also saw healthy demand, with U.S. bond funds collecting 6.8 billion dollars and international fixed income funds adding another 2 billion dollars, indicating ongoing interest in securing yield while remaining cautious on long-duration risk. Meanwhile, commodity ETFs experienced meaningful outflows as investors pulled back from inflation hedges and macro driven trades.
Among individual ETFs, the Vanguard S&P 500 ETF (VOO) attracted the largest inflows at 8.65 billion dollars. It was followed by the SPDR S&P 500 ETF Trust (SPY) with 7.75 billion dollars and the Invesco QQQ Trust (QQQ) with 4.03 billion dollars. Other notable inflows included the iShares Core S&P 500 ETF (IVV) with 1.93 billion dollars, the iShares 0–3 Month Treasury Bond ETF (SGOV) with 1.14 billion dollars, and the Vanguard Total Stock Market ETF (VTI) with nearly 1 billion dollars. International exposure also strengthened, with developed and global stock ETFs such as VEA and VXUS recording moderate inflows.
On the outflows side, the SPDR Gold Shares (GLD) saw the largest withdrawals at approximately 830 million dollars. The iShares Russell 2000 ETF (IWM), along with several sector-focused funds including financials, technology, and biotech ETFs, also experienced notable redemptions. Leveraged and inverse ETFs saw additional outflows, reflecting a shift away from higher volatility trading strategies during the transition into the New Year.
Overall, the week’s flows were broadly positive, driven primarily by strong demand for equity and short‑term fixed income exposure. Outflows were concentrated in commodities, leveraged products, and macro‑sensitive strategies. Despite the shortened trading schedule, investor activity remained robust and largely extended the powerful year‑end inflow surge from 2025.
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 | 50.14 | 0.04 | 0.37 | 4.01 | 4 | 4,821.25 |
| BetaShares Australian Government Bond ETF | AGVT.AXW | 41.38 | 0.43 | 1.14 | 4.61 | 3.76 | 1,090.46 |
| BetaShares Australian Major Bank Hybrids Index ETF | BHYB.AXW | 9.86 | -0.02 | 0.52 | 4.46 | 6.24 | 641.13 |
| iShares Core Cash ETF | BILL.AXW | 100.49 | -0.26 | 0.29 | 4 | 3.91 | 1,085.95 |
| SPDR S&P/ASX Australian Bond Fund ETF | BOND.AXW | 25.3 | 0.08 | 0.5 | 4.14 | 2.9 | 43.35 |
| BetaShares Legg Mason Australian Bond Fund | BNDS.AXW | 23.47 | 0.15 | 0.82 | 4.51 | 4.08 | 852.79 |
| BetaShares Australian Investment Grade Corporate Bond ETF | CRED.AXW | 23.19 | 0.19 | 1.08 | 6.3 | 4.96 | 1,612.94 |
| Daintree Hybrid Opportunities ETF | DHOF.AXW | 9.72 | 0.02 | 0.82 | 4.22 | 3.6 | 37.54 |
| Elstree Hybrid Fund ETF | EHF1.CXA | 5.16 | -0.04 | 5.73 | 41.06 | ||
| Daintree Core Income Fund ETF | DCOR.AXW | 51.93 | 0.06 | 0.44 | 1 | 69.61 | |
| VanEck Vectors Australian Floating Rate ETF | FLOT.AXW | 24.95 | -0.07 | 0.48 | 4.8 | 4.61 | 939.58 |
| BetaShares Sustainability Leaders Diversified Bond Hedged ETF | GBND.AXW | 20.51 | 0.04 | 0.41 | 3.27 | 3.43 | 216.56 |
| BetaShares Global Government Bond 20+ Year ETF – Currency Hedged | GGOV.AXW | 13.16 | 0.08 | 0.06 | 6.15 | 3.24 | 135.26 |
| Janus Henderson Sustainable Credit Active ETF | GOOD.AXW | 50.72 | 0.25 | 0.42 | 1.17 | 4.73 | 3.06 |
| SPDR S&P/ASX Australian Government Bond Fund ETF | GOVT.AXW | 24.29 | 0.21 | 0.8 | 4.43 | 2.83 | 70.66 |
| BetaShares Active Australian Hybrids Fund ETF | HBRD.AXW | 10.11 | 0.01 | 0.56 | 5.15 | 5.72 | 2,563.17 |
| BetaShares Interest Rate Hedged Australian Investment Grade Corporate Bond ETF | HCRD.AXW | 25.49 | 0.07 | 0.64 | 6.36 | 4.68 | 135.9 |
| iShares Core Composite Bond ETF | IAF.AXW | 101.66 | 0 | 1.01 | 4.16 | 3.75 | 3,539.82 |
| iShares Treasury ETF | IGB.AXW | 97.27 | 0.11 | 0.82 | 3.54 | 3.14 | 347.73 |
| iShares Global High Yield Bond ETF | IHHY.AXW | 95.21 | 0.45 | 1.06 | 7.89 | 5.58 | 360.4 |
| iShares Core Global Corporate Bond ETF | IHCB.AXW | 92.86 | 0.17 | 0.47 | 7.19 | 4.46 | 321.99 |
| iShares J.P. Morgan USD Emerging Markets Bond ETF | IHEB.AXW | 78.99 | -0.41 | 0.46 | 12.71 | 5.77 | 65.09 |
| iShares Government Inflation ETF | ILB.AXW | 126.21 | 1.17 | 1.25 | 3.63 | 1.9 | 1,062.60 |
| iShares Enhanced Cash ETF | ISEC.AXW | 100.57 | -0.28 | 0.35 | 4.15 | 4.12 | 514.35 |
| Betashares Australian Composite Bond ETF | OZBD.AXW | 44.33 | 0.37 | 1.32 | 5.05 | 4 | 1,033.16 |
| VanEck Vectors Australian Corporate Bond Plus ETF | PLUS.AXW | 17 | 0.08 | 1.25 | 5.53 | 4.18 | 393.86 |
| BetaShares Australian Bank Senior Floating Rate Bond ETF | QPON.AXW | 26.17 | 0.03 | 0.43 | 5.2 | 4.4 | 1,851.96 |
| Russell Australian Select Corporate Bond ETF | RCB.AXW | 19.95 | 0.11 | 0.95 | 4.44 | 4.67 | 325.85 |
| Russell Australian Government Bond ETF | RGB.AXW | 18.96 | 0.2 | 1.04 | 3.9 | 2.43 | 258 |
| Russell Australian Semi-Government Bond ETF | RSM.AXW | 20.57 | 0.14 | 0.23 | 3.33 | 2.11 | 60.01 |
| VanEck Vectors Australian Subordinated Debt ETF | SUBD.AXW | 25.23 | -0.06 | 0.52 | 5.65 | 5.49 | 3,313.94 |
| VanEck 1-3 Month US Treasury Bond ETF | TBIL.AXW | 50.01 | 0.01 | -0.56 | -3.91 | 4.13 | 117.07 |
| US Treasury Bond 7-10 Year Currency Hedged ETF | US10.AXW | 51.41 | 0.03 | 0.29 | 8.2 | 3.26 | 26.27 |
| Betashares Inflation Protected US Treasury Bond (Hedged) ETF | UTIP.AXW | 25.77 | 0.02 | 0.03 | 6.47 | 3.5 | 190.72 |
| Vanguard Australian Corporate Fixed Interest ETF | VACF.AXW | 51.34 | 0.28 | 1.16 | 4.78 | 3.85 | 762.23 |
| Vanguard Australian Fixed Interest Index ETF | VAF.AXW | 45.65 | 0.34 | 0.96 | 4.39 | 3.12 | 3,341.73 |
| Vanguard Global Aggregate Fixed Interest Index Hedged ETF | VBND.AXW | 42.35 | 0.06 | 0.61 | 5.32 | 2.65 | 3,867.68 |
| Vanguard International Credit Securities Index ETF | VCF.AXW | 39.28 | 0.18 | 0.69 | 6.71 | 3.17 | 185.13 |
| Vanguard Ethically Conscious Global Aggregate Bond Index Hedged ETF | VEFI.AXW | 42.91 | 0.01 | 0.36 | 5.18 | 2.84 | 79.17 |
| Vanguard Australian Government Bond Index ETF | VGB.AXW | 46.16 | 0.38 | 0.98 | 4.06 | 3.35 | 1,275.45 |
| Vanguard International Fixed Interest Index ETF | VIF.AXW | 38.82 | 0.11 | 0.5 | 3.76 | 2.19 | 990.72 |
| ActiveX Ardea Real Outcome Bond Fund ETF | XARO.AXW | 24.89 | 0.06 | 0.91 | 6.73 | 1.59 | 162.71 |
*Closing price as of the end of the week. Returns in AUD before fees