The Vetiva Series ETF started “life” on the wrong foot, going by its performance in October. The three ETFs launched last month at a period when the market was “tanking” making it look like the funds were dead on arrival. It was probably the worst time to launch an equity based fund. As can be seen from the performance of the equity market generally and the respective indices, watchful investors will agree that it’s been a truly dreadful run for equities this year. Such dread has been carried over to those newly born funds as their performance during their first month of life is nothing to write home about. All the three ETFs in the series suffered losses during the month of October but they all beat their respective indexes.
The Vetiva Sector Series ETFs are the Vetiva Banking ETF, Vetiva Consumer Goods ETF and Vetiva Industrial ETF. They are re open-ended equity-based exchange traded funds designed to individually track the NSE Banking Index, NSE Consumer Goods Index and NSE Industrial Index respectively and to replicate the price and yield performance of the relevant Index.
On a general note, all the ETFs, except the New Gold ETF returned negative performance in October although their performance was not as bad as the indices they are meant to track.