SINGAPORE – Singapore-listed exchange-traded funds (ETFs) galloped to a bumper year in 2025, with net inflows hitting $2.4 billion, driven by the sparkle of gold and surging interest in Reits and equities.
One telling statistic from the Singapore Exchange’s latest ETF Market Highlights report is that total allocations to ETFs under the Central Provident Fund Investment Scheme and the Supplementary Retirement Scheme reached $1.2 billion. This is nearly a 400 per cent growth since 2020.
In total, there was $3.5 billion in net inflows across 27 ETFs, offset by $1 billion outflows from 22 ETFs.
By end-2025, Singapore’s ETF market had expanded to 50 ETFs with total assets of $18 billion, marking a 37 per cent year-on-year increase. SGX noted that average daily trading turnover for its ETFs in 2025 rose 69 per cent to $29 million. October 2025 alone set a five-year high, with average daily turnover reaching $49 million.
Gold ETFs offered in Singapore and US dollars were a star in 2025 amid global market turmoil and a shift towards safe-haven assets.
This drove total assets under management to $4.2 billion, up 139 per cent year on year, supported by annual inflows of $1.2 billion. Average daily trading turnover for gold ETFs surged 146 per cent to $7.7 million.
Real estate investment trust (REIT) ETFs were another bright spot, benefiting from lower interest rates. They attracted $557 million in net inflows, lifting assets under management by 68 per cent to $1.7 billion.
“REIT ETFs have proven to be an attractive proposition for real estate investing, offering investors quality dividend income with easy diversification without the need for individual stock-picking,” said SGX.
Equity ETFs also performed strongly. Straits Times Index-tracking ETFs, including the SPDR STI ETF and the Amova STI ETF, delivered total returns of 28 per cent in 2025.
Together, they had assets under management of $3.7 billion and recorded cumulative net inflows of $542 million during the year.
SGX said that long-term investing in the STI was made easier with the launch of the Amova Singapore STI ETF – SGD Accumulating Class, which automatically reinvests dividends.
In an indication of a shift towards long-term automated ETF adoption, ETF investments via robo-advisers and savings plans climbed to $1.3 billion, up 341 per cent since 2020.
Among the top 10 performing ETFs listed on SGX in 2025, the Xtrackers Vietnam Swap UCITS ETF was the best performer, rising 58 per cent over the year.
It tracks the STOXX Vietnam Total Market Liquid Index, a broad benchmark covering large-, mid- and small-cap Vietnamese stocks.
According to data by the London Stock Exchange Group, Vietnam achieved 8.2 per cent in gross domestic product growth in the third quarter of 2025, driven by its industrial, construction and service sectors, while its stock market delivered a 57.7 per cent price return within the same period.
The SPDR Gold Shares ETF, which tracks the price of gold bullion and delivered returns of 57 per cent, came in second place on the top 10 list.
This was followed by the CSOP CSI STAR and ChiNext 50 Index ETF, which gained 53.1 per cent. The fund tracks the CSI STAR and ChiNext 50 Index, which comprises technology and innovation-focused companies listed on China’s Shanghai Stock Exchange Science and Technology Innovation board and ChiNext board.
The iShares USD Asia High Yield Bond Index ETF, which tracks the Bloomberg Barclays Asia USD High Yield Diversified Credit Index, was the top dividend-paying ETF in 2025, with an indicated yield of 7.3 per cent.
It was followed by the Lion-OCBC Securities APAC Financials Dividend Plus ETF, which tracks the iEdge APAC Financials Dividend Plus Index, with an indicated yield of 6.1 per cent.
Next was the Lion-OCBC Securities Singapore Low Carbon Index ETF, which tracks the iEdge-OCBC Singapore Low Carbon Select 40 Capped Index, offering an indicated yield of 5.8 per cent.
SGX said on Jan 15 that retail investors recorded net inflows of $2.2 billion into Singapore stocks in the first half of 2025, followed by $413 million in the second half.
This marked the highest annual net retail inflows since 2020 and brought cumulative net retail inflows over the past six years to $17 billion.