etfSA.co.za Monthly South African ETF, ETN and Index Tracking Product Performance Survey
With good recovery in many South Africa investment markets, a number of index tracking products are providing superior returns. The underlying table show the increase in the main FTSE/JSE indices over the past year or more.
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With above-inflation returns being provided by the main market indices, for both bonds and equities, many of the index tracking products, ETPs and unit trusts, included in this Survey are yielding good results for investors. As pointed out in our recent news story “How Many Actively-Managed Unit Trusts Can Outperform the Index?” (12 July 2012), on average, more than 80% of active unit trusts managers have failed to beat the index performance over the past 1-7 years. In these difficult investment times, index tracking products, particularly low cost Exchange Traded Products, are coming into their own. |
Total Return Main JSE Indices To end July 2012 |
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1 year (p.a.) |
2 year (p.a.) |
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FTSE/JSE All Share |
15,72% |
16,18% |
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FTSE/JSE Top 40 |
13,92% |
15,08% |
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FTSE/JSE Industrial Index |
29,45% |
25,62% |
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The All Bond Index |
16,71% |
12,93% |
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MSCI World Equity Index (Rand) |
18,25% |
8,50% |
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Alternative investments are also coming under increasing attention in the quest to find alpha performance. Exchange Traded Products give exposure to many of these alternative asset classes. The underlying summary of the Performance Survey, illustrates the recent outstanding performance of commodity based ETNs (Wheat, Corn) as well as property index securities, for investment periods of less than one year.
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Best Performing Index Tracker Funds – 31 July 2012 (Total Return %)* |
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Fund Name |
Type |
5 Years (per annum) |
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Fund Name |
Type |
3 Years (per annum) |
|
NewGold |
ETF |
22,35% |
Proptrax SAPY |
ETF |
25,62% |
|
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Prudential Property Enhanced |
16,69% |
Satrix INDI 25 |
ETF |
25,02% |
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Satrix INDI 25 |
ETF |
14,97% |
Prudential Property Enhanced Index Fund |
Unit Trust |
24,82% |
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|
2 Years (per annum) |
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|
1 Year |
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Satrix INDI 25 |
ETF |
25,91% |
Standard Bank Corn-Linker |
ETN |
47,78% |
|
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NewGold |
ETF |
24,17% |
Standard Bank Wheat-Linker |
ETN |
36,24% |
|
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Proptrax SAPY |
ETF |
23,03% |
Proptrax TEN |
ETF |
34,72% |
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DBX Tracker MSCI USA |
ETF |
19,73% |
Proptrax SAPY |
ETF |
33,04% |
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Prudential Property Enhanced Index Fund |
Unit Trust |
32,62% |
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6 Months |
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|
3 Months |
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Standard Bank Corn-Linker |
ETN |
46,51% |
Standard Bank Corn-Linker |
ETN |
49,73% |
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Standard Bank Wheat-Linker |
ETN |
30,00% |
Standard Bank Wheat-Linker |
ETN |
43,45% |
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Proptrax SAPY |
ETF |
22,54% |
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Source: Profile Media FundsData (31/07/2012) * Includes reinvestment of dividends. |
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The full etfSA Performance Survey is attached. The etfSA Performance Survey measures the total return (Net Asset Value (NAV to NAV)) changes including reinvestment of dividends) for index tracking unit trusts and Exchange Traded Funds (ETFs) available to the retail public in South Africa. The performance tables (attached) measure the 1 month to 5 years total return compared with the benchmark index returns (including reinvestment of dividends). Note, as the FTSE/JSE calculates the index without taking into account any brokerage or other transaction costs, index tracking products will typically underperform the index because of their transaction and other running costs. .
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MONTHLY PERFORMANCE SURVEY OF INDEX TRACKING ETFS, ETNs AND UNIT TRUSTS For Period Ended 31 July 2012 (Total Returns – dividends reinvested) |
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A) EXCHANGE TRADED FUNDS |
1 Month |
3 Months |
6 Months |
1 Year |
2 years p.a. |
3 years p.a. |
5 years p.a. |
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1. TOP 40 ETF PRODUCTS |
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|
|
|
|
|
|
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FTSE/JSE Top 40 Index |
4,15% |
1,77% |
2,67% |
13,94% |
13,77% |
15,08% |
6,98% |
|
Nedbank BettaBeta Equally Weighted Top 40 |
4,95% |
3,20% |
6,68% |
19,10% |
16,09% |
- |
- |
|
NewFunds SWIX Top 40 |
4,62% |
4,26% |
7,35% |
- |
- |
- |
- |
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RMB Top 40 Portfolio |
4,13% |
1,72% |
2,57% |
13,67% |
13,49% |
14,80% |
- |
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Satrix 40 Portfolio |
4,12% |
1,66% |
2,42% |
13,35% |
13,26% |
14,59% |
6,56% |
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Satrix SWIX Top 40 Portfolio A |
4,62% |
2,97% |
6,21% |
16,98% |
15,26% |
16,11% |
7,88% |
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Stanlib Top 40 |
3,08% |
1,40% |
2,48% |
12,78% |
- |
- |
- |
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Stanlib Swix Top 40 |
3,61% |
2,79% |
6,21% |
16,72% |
- |
- |
- |
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2. JSE Sector Exposure ETFs |
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|
|
|
|
|
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FTSE/JSE Industrial 25 Index |
8,14% |
7,92% |
17,56% |
29,45% |
26,51% |
25,62% |
15,50% |
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NewFunds eRAFI INDI 25 |
6,63% |
2,75% |
10,10% |
19,67% |
19,68% |
20,77% |
- |
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Satrix INDI 25 |
8,13% |
7,83% |
17,30% |
28,77% |
25,91% |
25,02% |
14,97% |
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FTSE/JSE Financial 15 Index |
5,03% |
7,09% |
15,71% |
31,84% |
17,68% |
19,93% |
7,63% |
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NewFunds eRAFI FINI 15 |
5,58% |
8,47% |
15,48% |
32,21% |
16,09% |
17,59% |
- |
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Satrix FINI 15 |
4,51% |
5,82% |
13,82% |
30,47% |
15,80% |
18,05% |
6,33% |
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FTSE/JSE Resources 10 Index |
(1,23%) |
(7,15%) |
(15,50%) |
(6,58%) |
0,67% |
4,51% |
0,02% |
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NewFunds eRAFI RESI 20 |
(2,86%) |
(5,46%) |
(10,84%) |
(3,66%) |
2,28% |
6,29% |
- |
|
Satrix RESI 10 |
(1,26%) |
(7,26%) |
(15,65%) |
(6,97%) |
0,26% |
4,04% |
(0,36%) |
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MONTHLY PERFORMANCE SURVEY OF INDEX TRACKING ETFS, ETNs AND UNIT TRUSTS For Period Ended 31 July 2012 (Total Returns – dividends reinvested) |
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A) EXCHANGE TRADED FUNDS(continued) |
1 Month |
3 Months |
6 Months |
1 Year |
2 years p.a. |
3 years p.a. |
5 years p.a. |
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3. Bond (Fixed Interest) ETFs |
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|
|
|
|
|
|
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All Bond Total Return Index |
4,08% |
7,52% |
9,46% |
16,71% |
12,92% |
12,93% |
11,08% |
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NewFunds GOVI |
3,80% |
7,13% |
8,97% |
- |
- |
- |
- |
|
NewFunds ILBI (Inflation-Linked) |
4,85% |
4,83% |
8,23% |
- |
- |
- |
- |
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zShares GOVI |
3,76% |
7,01% |
8,81% |
15,50% |
12,02% |
11,96% |
- |
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RMB Inflation Linked (Inflation-X) |
4,78% |
4,70% |
8,09% |
16,07% |
13,16% |
10,57% |
- |
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4. Property ETFs |
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Proptrax SAPY |
8,08% |
18,29% |
22,54% |
33,04% |
23,03% |
25,62% |
- |
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Proptrax TEN |
8,46% |
15,13% |
20,34% |
34,72% |
- |
- |
- |
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5. “Style” ETFs |
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|
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|
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FTSE/JSE All Share Index |
4,11% |
2,23% |
4,33% |
15,72% |
14,54% |
16,18% |
7,75% |
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Nedbank BGreen |
3,20% |
1,37% |
5,16% |
- |
- |
- |
- |
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NewFunds Equity Momentum Fund |
8,03% |
7,32% |
13,95% |
- |
- |
- |
- |
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NewFunds Shari’ah Top 40 |
1,71% |
(3,23%) |
(7,40%) |
(0,33%) |
5,83% |
7,16% |
- |
|
NewFunds NewSA |
4,85% |
3,73% |
10,63% |
17,77% |
14,69% |
15,31% |
- |
|
NewFunds NewRand |
2,73% |
4,41% |
4,15% |
9,93% |
10,22% |
14,26% |
6,51% |
|
NewFunds eRAFI Overall |
3,09% |
(0,41%) |
1,12% |
12,57% |
11,95% |
15,13% |
- |
|
NewFunds MAPPS – Protect |
4,13% |
4,96% |
8,23% |
16,08% |
- |
- |
- |
|
NewFunds MAPPS – Growth |
4,29% |
4,54% |
8,23% |
17,49% |
- |
- |
- |
|
Satrix DIVI Plus |
2,75% |
(0,82%) |
5,07% |
19,58% |
14,79% |
19,31% |
- |
|
Satrix RAFI Total Return |
3,39% |
0,22% |
1,78% |
14,95% |
14,17% |
16,35% |
- |
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MONTHLY PERFORMANCE SURVEY OF INDEX TRACKING ETFS, ETNs AND UNIT TRUSTS For Period Ended 31 July 2012 (Total Returns – dividends reinvested) |
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A) EXCHANGE TRADED FUNDS(continued) |
1 Month |
3 Months |
6 Months |
1 Year |
2 years p.a. |
3 years p.a. |
5 years p.a. |
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6. Foreign ETFs |
|
|
|
|
|
|
|
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MSCI World Index (in Rands) |
2,48% |
2,67% |
6,79% |
18,25% |
11,88% |
8,50% |
(1,59%) |
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DBX Tracker MSCI EuroStoxx 50 |
0,97% |
2,09% |
(2,75%) |
(4,99%) |
(1,64%) |
(4,18%) |
(8,16%) |
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DBX Tracker MSCI FTSE 100 |
2,97% |
2,66% |
6,36% |
18,07% |
13,28% |
9,78% |
(1,30%) |
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DBX Tracker MSCI USA |
1,98% |
4,80% |
12,05% |
31,64% |
19,73% |
14,39% |
- |
|
DBX Tracker MSCI Japan |
(4,09%) |
(1,56%) |
0,11% |
4,81% |
3,41% |
0,19% |
- |
|
DBX Tracker MSCI World |
2,08% |
3,40% |
8,14% |
20,18% |
13,49% |
9,32% |
- |
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7. Money Market ETFs |
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|
|
|
|
|
|
|
Grindrod PrefEx |
(1,75%) |
(3,85%) |
- |
- |
- |
- |
- |
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NewFunds TRACI |
0,60% |
2,70% |
2,77% |
- |
- |
- |
- |
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B) EXCHANGE TRADED NOTES |
1 Month |
3 Months |
6 Months |
1 Year |
2 years p.a. |
3 years p.a. |
5 years p.a. |
|
|
Absa Capital |
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NewGold* |
1,97% |
4,44% |
(0,49%) |
20,61% |
24,17% |
21,20% |
22,35% |
|
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NewWave EURO |
(2,21%) |
(0,78%) |
- |
- |
- |
- |
- |
|
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NewWave Pound |
(10,18%) |
(8,47%) |
- |
- |
- |
- |
- |
|
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NewWave US Dollar |
0,61% |
6,72% |
- |
- |
- |
- |
- |
|
|
NewWave Platinum |
(1,06%) |
(5,13%) |
- |
- |
- |
- |
- |
|
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NewWave Silver |
41,96% |
33,61% |
- |
- |
- |
- |
- |
|
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* |
Exchange Traded Fund (ETF). |
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MONTHLY PERFORMANCE SURVEY OF INDEX TRACKING ETFS, ETNs AND UNIT TRUSTS For Period Ended 31 July 2012 (Total Returns – dividends reinvested) |
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B) EXCHANGE TRADED NOTES (continued) |
1 Month |
3 Months |
6 Months |
1 Year |
2 years p.a. |
3 years p.a. |
5 years p.a. |
|
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Deutsche Bank |
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DB MSCI China Total Return |
1,92% |
(0,71%) |
(0,49%) |
5,48% |
- |
- |
- |
|
|
DB MSCI Emerging Markets Total Return |
2,52% |
0,49% |
(0,90%) |
6,79% |
- |
- |
- |
|
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DB Africa Top 50 Capped Total Return |
7,00% |
6,29% |
12,33% |
26,90% |
- |
- |
- |
|
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Rand Merchant Bank |
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RMB Oil |
8,03% |
(13,90%) |
(5,30%) |
8,10% |
- |
- |
- |
|
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RMB Coal |
2,95% |
(4,30%) |
(10,55%) |
(15,06%) |
- |
- |
- |
|
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Standard Bank |
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Africa Equity Index Total Return |
1,69% |
2,31% |
4,47% |
4,60% |
- |
- |
- |
|
|
Africa Commodity Basket Index |
5,88% |
(1,26%) |
0,73% |
- |
- |
- |
- |
|
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Gold-Linker |
1,81% |
3,66% |
(1,57%) |
18,82% |
- |
- |
- |
|
|
Silver-Linker |
0,92% |
(4,76%) |
(13,15%) |
(17,62%) |
- |
- |
- |
|
|
Palladium-Linker |
1,37% |
(7,88%) |
(11,61%) |
(15,71%) |
- |
- |
- |
|
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Platinum-Linker |
(1,73%) |
(4,16%) |
(7,15%) |
(5,50%) |
- |
- |
- |
|
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Copper ETN |
(1,96%) |
(5,34%) |
(5,42%) |
(7,33%) |
- |
- |
- |
|
|
Corn ETN |
23,55% |
49,73% |
46,51% |
47,78% |
- |
- |
- |
|
|
Oil ETN |
8,30% |
(10,92%) |
(2,45%) |
12,11% |
- |
- |
- |
|
|
Wheat ETN |
15,77% |
43,45% |
30,00% |
36,24% |
- |
- |
- |
|
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Source: |
Profile Media – FundsData (31/07/2012) |
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MONTHLY PERFORMANCE SURVEY OF INDEX TRACKING ETFS, ETNs AND UNIT TRUSTS For Period Ended 31 July 2012 (Total Returns – dividends reinvested) |
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C) INDEX TRACKING UNIT TRUSTS |
1 Month |
3 Months |
1 Year |
3 years p.a. |
5 years p.a. |
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1. TOP 40 PRODUCTS |
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|
|
|
|
|
|
FTSE/JSE Top 40 Index |
4,15% |
1,77% |
13,94% |
15,08% |
6,98% |
|
|
Kagiso Top 40 Tracker Fund |
3,73% |
1,21% |
12,27% |
14,08% |
6,01% |
|
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Old Mutual Top 40 Fund |
3,68% |
1,19% |
11,80% |
13,85% |
5,46% |
|
|
Stanlib ALSI 40 Fund |
4,00% |
1,29% |
12,19% |
14,70% |
6,41% |
|
|
SIM Index Fund |
4,04% |
1,46% |
12,52% |
13,68% |
5,69% |
|
|
Momentum Top 40 Index Fund |
4,00% |
1,17% |
12,07% |
14,27% |
5,55% |
|
|
SIM Equally Weighted Top 40 Index Fund |
3,78% |
2,46% |
17,95% |
- |
- |
|
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2. All Other Index Tracking Products |
|
|
|
|
|
|
|
FTSE/JSE All Share Index |
4,11% |
2,23% |
15,72% |
16,18% |
7,75% |
|
|
Sanlam All Share Index Fund |
4,16% |
2,25% |
15,45% |
15,71% |
- |
|
|
Gryphon All Share Tracker Fund |
3,21% |
0,98% |
14,53% |
15,99% |
6,94% |
|
|
Stanlib Index Fund |
4,17% |
2,04% |
14,33% |
15,46% |
7,29% |
|
|
SIM RAFI 40 Index Fund |
3,20% |
0,25% |
- |
- |
- |
|
|
Grindrod RAFI Enhanced SA Strategy Fund |
2,75% |
(1,26%) |
9,54% |
13,44% |
- |
|
|
Old Mutual RAFI 40 Tracker Fund |
2,93% |
(0,08%) |
12,34% |
14,15% |
- |
|
|
Prudential Enhanced SA Property Tracker Fund |
8,64% |
16,32% |
32,62% |
24,82% |
16,69% |
|
|
SIM Dividend Plus Index Fund |
2,70% |
(0,94%) |
- |
- |
- |
|
|
Source: |
Profile Media – FundsData (31/07/2012) |
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