Trading on the Swiss Stock Exchange continues to pick up in the first quarter of 2021. The vaccination programs that have been launched and the associated hope that the pandemic will be overcome are boosting the markets. This is shown in the latest edition of the ETF Market Report.
ETFs on the Swiss Stock Exchange: Record Levels of Trades
Hopes for an end to the pandemic and the associated optimism are also reflected on the stock market: equity markets continued their upward trend in the first quarter of 2021. Potential negative effects of Covid-19 were cushioned by the huge U.S. support program and the Federal Reserve's continued expansionary monetary policy.
The figures reflect the optimism of investors: with 524,984 trades in the first quarter, the Swiss Stock Exchange achieved record figures. Ticket sizes below CHF 10,000 - which have already exceeded 35.85% of last year's level this quarter – were the main reason for this. The ETF offering continues to develop: with 32 new ETFs, a total of 1542 ETFs is now tradable on the exchange.
Bond ETFs and Commodity ETFs Overtake Equity ETFs
Compared to the previous quarter, total turnover decreased by 6.96% to CHF 23,465 million. This was due to the normally strongest asset class of equities, which lost 12.01% this quarter due to a lack of new momentum.
Thanks to higher interest rates, bond ETFs and commodity ETFs came out on top this quarter, achieving 28.95% and 6.04% higher turnover respectively compared to the previous quarter. In terms of total turnover, equity ETFs (74.51% vs. 78.87% in Q4/21) lead the pack, followed by commodity ETFs (16.79% vs. 14.74% in Q4/21) and bond ETFs (8.38% vs. 6.05% in Q4/21).
The top ranks of the 20 most traded ETFs in the first quarter were led by UBS' ETF JPNA on MSCI Japan, followed by iShares' very popular ETF INRG on the S&P Global Clean Energy Index and Lyxor's ETF LYBNK on the STOXX Europe 600 Banks Index. Gold, silver, commodity baskets and commodity equity ETFs also enjoyed strong demand, with a total of seven making the top 20.
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