Best and Worst Performing ETFs in April

With
the
symbol
Rh
and
atomic
number
45
on
the
periodic
table,
rhodium
is
a
noble
metal
that
belongs
to
the
platinum
family,
along
with
palladium,
ruthenium,
osmium
and
iridium.
It
is,
along
with
iridium,
the
rarest
non-radioactive
metal
on
Earth.
Often
used
in
alloys
with
platinum
and
palladium
to
increase
its
hardness,
rhodium
is
an
excellent
catalyst
and
is
often
used
in
automotive,
aviation,
electronics
or
medical
industries.

The
price
of
rhodium
(and
palladium)
has
been
boosted
by
a
seemingly
permanent
political
dysfunction
in
South
Africa,
where
83%
of
world
production
is
concentrated.
With
the
strikes
at
the
mines
and
power
outages
in
the
country,
rhodium
supply
came
to
a
halt,
triggering
a
rebound
in
the
price.

In
addition
to
ETCs
on
soft
commodities
such
as
sugar
and
coffee,
there
is
also
an
ETF
exposed
to
the
Polish
market.
The
Warsaw
Stock
Exchange
benefited
from
the
performance
of
the
real
estate
sector,
after
the
government
intervened
with
subsidies
dedicated
to
first
home
purchases
to
boost
mortgage
lending.
This
is
the
opposite
of
what
the
real
estate
industry
is
experiencing
in
the

rest
of
the
continent.

Worst
Performing
ETFs

The
ranking
of
the
worst
performing
ETFs
in
April,
on
the
other
hand,
sees
five
ETFs
exposed
in
different
ways
to
the
electric
vehicles
theme.
The
entire
industry
suffered
most
from
the
slide
of
Tesla
(TSLA),
whose
stock
lost
about
17%
in
US
dollars
in
April.
Elon
Musk’s
company
ended
the
first
quarter
of
2023
with
revenues
up
24%
to
$23.32
billion
but
profits
down
24%
to
$2.51
billion,
weakened
by
repeated
cuts
in
list
prices
of
cars
to
boost
sales.
The
company
posted
a
total
gross
margin
of
19.3%,
compared
to
expectations
of
22.4%.
The
operating
margin
fell
to
11.4%
from
19.2%
last
year,
although
it
remained
among
the
highest
in
the
industry.

Chinese
tech
stocks
also
struggled
last
month,
with
the
KraneShares
CSI
China
Internet
ETF
(KWEB)
losing
12.5%.
Growth
concerns
and
geopolitical
uncertainty
led
to
broader
caution surrounding
Chinese
assets.
Besides,
intensifying
competition
within
the
tech
sector
has
the
potential
to
severely
depress
profit
margins.

Biggest
ETFs
in
April

Monthly
top
and
flop
performers
often
coincide
with
very
volatile
and
therefore
risky
products,
which
should
play
a
satellite
role
in
your
portfolio.
As
such,
we
also
include
an
overview
of
the
biggest
European-domiciled
ETPs
in
terms
of
assets,
which
could
be
more
appropriate
to
consider
among
core
holdings.
Performance
in
April
2023
ranges
from
3.4%
for
the
iShares
Core
FTSE
100
UCITS
ETF
GBP
(ISF),
down
to
the
iShares
Core
MSCI
EM
IMI
UCITS
ETF
USD
(EIMI),
which
lost
2.5%.  

Methodology

According
to
Morningstar
data,
there
are
about
44
percentage
points
between
the
best
and
worst
performing
Exchange-traded
products
(ETPs)
in
April,
with
returns
for
the
month
ranging
from
24.2%
to
-19.5%.

We
have
looked
at
the
key
trends
in
the
fourth
month
of
the
year,
excluding
inverse
and
leveraged
funds.
These
instruments,
being
purely
passive
products,
reflect
the
evolution
of
the
markets
without
the
bias
(good
or
bad)
of
an
active
manager.

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