The past year saw solid returns for shares listed on the Bucharest Stock Exchange, and a corresponding evolution for the major exchange-traded funds, or ETFs, that track the market’s indexes.
The main one on the BVB is the ETF BET Patria – Tradeville fund, managed by SAI Patria Asset Management. The ETF tracks the 20 most important companies listed on the BVB to replicate the structure and performance of the exchange’s main index, BET.
The fund delivered a gain of 52.9% to its investors in 2025. It also generated a gain of 133.2% over the last three years ended December 31, 2025, and 452.1% over the last ten years ended on the same date.
As of January 8, 2026, the fund recorded total net assets (an indicator of its size) of RON 809.7 million (EUR 162 million), up from RON 779.0 million (EUR 156 million) on December 31, 2025, RON 447.7 million (EUR 89.5 million) on December 31, 2024, and RON 170.5 million (EUR 34 million) on December 31, 2023.
The ETF’s total net assets increased more than tenfold over the last three years ended December 31, 2025, from RON 72.1 million (EUR 14.4 million) to RON 779.0 million (EUR 156 million) and more than 350-fold over the last ten years ended on the same date, from RON 2.2 million (EUR 0.44 million) to RON 779.0 million (EUR 156 million).
ETF BET Patria – Tradeville remains one of the largest ETFs established in Central and Eastern Europe by total assets. The growth in assets was driven by the fund’s very strong performance and by the increasing interest of investors in ETF funds.
Such funds are increasingly popular. Globally, total assets of this type of fund were estimated at USD 18.8 trillion as of September 30, 2025, up 26.7% compared to December 31, 2024.
A solid growth was also registered in the sheer number of investors. The number of investors in the ETF BET Patria – Tradeville fund stood at 33,317 at the end of December 2025, up 16.3% from 28,642 on December 31, 2024, and representing a 4.6-fold increase over the last three years compared to 7,217 investors on December 31, 2022.
ETF Energie Patria – Tradeville, a fund dedicated to the energy and utilities sector and the second ETF managed by SAI Patria Asset Management, recorded a 55.1% increase in its unit value in 2025. It was the best-performing ETF in Romania last year. The gain recorded by the fund since its launch in February 2023 through the end of 2025 is 116.5%.
The total net assets of this fund reached RON 50.5 million (EUR 10.1 million) as of January 8, 2026, up from RON 48.7 million (EUR 9.7 million) on December 31, 2025.
“2025 was an exceptional year for Romanian listed equities. I am pleased that the Patria ETFs delivered stock market performance simply and efficiently to a combined total of nearly 40,000 investors,” said Razvan Pasol, CEO of SAI Patria Asset Management.
The ETF BET Patria – Tradeville and ETF Energie Patria – Tradeville funds are listed on the Bucharest Stock Exchange and are traded on the exchange under the symbols TVBETETF and PTENGETF.
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