Industry Updates

European banks dominate top 10 best performing ETFs

Tom Eckett

a city skyline at night

European bank ETFs dominated the top 10 best performing strategies in the week ending 15 March, after reports Deutsche Bank and Commerzbank had begun tentative merger talks gave a boost to the sector.

According to data from Ultumus, four European bank ETFs made the top 10 last week. The strongest performer out of the four was the $516m Lyxor EURO STOXX Banks (DR) UCITS ETF (BNKE), which rose 6.01% over the week.

This was closely followed by the $1.5bn iShares EURO STOXX Banks 30-15 UCITS ETF, which jumped 5.98% while the $279m Invesco EURO STOXX Optimised Banks UCITS ETF and the $4.7m Invesco STOXX Europe 600 Optimised Financial Services UCITS ETF rounded off the top four, both climbing 5.97%.

It was revealed on 10 March by German newspaper Welt am Sonntag that the two German were under political pressure to consider a merger and avoid a foreign takeover of Commerzbank.

The two banks subsequently issued statements on 17 March confirming they were in talks over a potential merger.

Along with the merger talks between the two German banks, another reason for the sector's performance was shares in Banco Santander, which makes up 17.1% of BNKE, jumping 5.8% over the week while BNP Paribas BNKE's second largest weighting rose 2.2%.

Overall, the best performing fund of the week was the $3bn ETFS Lean Hogs, which climbed 11.8%.

Top 10 performing ETFs (11 March - 15 March)

ETFS Lean Hogs11.76%ETFS Longer Dated Lean Hogs11.37%UBS ETF (IE) Solactive Global Oil Equities UCITS ETF6.63%ETFS GBP Daily Hdg. WTI Crude Oil6.27%Lyxor EURO STOXX Banks (DR) UCITS ETF6.01%iShares EURO STOXX Banks 30-15 UCITS ETF (DE)5.98%Invesco EURO STOXX Optimised Banks UCITS ETF5.97%ETFS EUR Daily Hdg. Wheat5.97%Invesco STOXX Europe 600 Optimised Financial Services UCITS ETF5.97%ETFS Swiss Franc Daily Hedged Wheat5.62%

Source: Ultumus

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