Spotlight: The ETFs that had the best gains in 2023

Last year marked a significant period for the Singapore Exchange (SGX), especially in the Exchange-traded fund (ETF) sector, witnessing the introduction of five new ETFs and high gains driven by US and India-focused funds. These ETFs emerged as the top performers in a year characterised by strong economic dynamics and market shifts.

“The gains of the US technology stocks which comprise a third of the S&P 500, and increased odds for a soft landing in the US Economy supported the US Indices, while India‘s robust economic performance and 6%+ growth rates supported its local stock market,” said SGX, proving the dynamic interplay of global economic trends and their impact on investment vehicles.

Additionally, gold ETFs demonstrated remarkable resilience and growth in 2023, achieving a 12% gain in SGD terms and a cumulative 31% rise since 2019.

“The ETF ended the year at S$191.17 per unit, equivalent to ~0.094 ounces of gold. Physical gold prices also reached record highs in December 2023,” SGX elaborated.

Additionally, 2023 also saw new equities-focused ETFs. Two Asia-focused ETFs were launched: the iShares MSCI Asia ex-Japan Climate Action ETF and the CSOP iEdge Southeast Asia+ TECH Index ETF. The SGX also added two China-focused ETFs, namely the CGS Fullgoal CSI 1000 ETF and the CSOP Huatai-PineBridge SSE Dividend Index ETF, along with the CGS Fullgoal Vietnam 30 Sector Cap ETF.

More from OMY: Complete Guide to ETF Investing in Singapore

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