SINGAPORE – Exchange-traded funds (ETFs) listed on the Singapore Exchange (SGX) have recorded net inflows of $700 million in the first half of 2025, according to the local bourse’s latest ETF Market Highlights report.
This is supported by $1.2 billion in net creations across 22 ETFs, alongside $500 million in net redemptions from 13 ETFs.
As at June, Singapore’s ETF market comprised 47 listings with total assets under management (AUM) reaching $14.3 billion, up 32 per cent year on year.
Equity and gold ETFs led the growth, with turnover increasing by 69 per cent and 62 per cent, respectively. Retail segment turnover also saw strong momentum, climbing 67 per cent.
Inflows for Singapore-focused ETFs stood at $568 million, driven by declining Singapore dollar rates and robust market momentum. In particular, the combined AUM of the SPDR Straits Times Index ETF and Nikko AM Singapore STI ETF hit a record high of $2.8 billion in June.
Here are the top 10 SGX-listed ETFs in terms of total returns for the first half of 2025. As a gauge, the US S&P 500 is up more than 8 per cent in 2025.
The SPDR Gold Shares ETF tracks the performance of gold bullion, with its underlying index being LBMA Gold Price PM.
As such, it provides investors with direct exposure to gold prices without the need to hold physical metal. Its return rate was the highest among all SGX-listed ETFs for the half-year at 17 per cent.
With growing geopolitical uncertainties and robust safe-haven demand, the ETF saw record inflows and AUM, as holdings surged 75 per cent year on year to reach $2.4 billion in June.
The top Singapore equity ETF for the first half of 2025 offers exposure to 30 high-yielding SGX-listed stocks screened for quality and financial health. Its interest is in income-focused strategies and has a dividend yield of 3.6 per cent.
It tracks the Morningstar Singapore Yield Focus index and saw a return of 11.9 per cent for the half-year and nearly 26 per cent for the full year.
An actively managed ETF using artificial intelligence (AI) driven models to select constituents from Japan’s Tokyo Stock Price Index, its returns for the first half-year were at 11.7 per cent. Its total returns for one year stood at 13.8 per cent.
The Lion-Nomura Japan Active ETF is the second best performing equity ETF on SGX for the half-year.
The ETF tracks the Hang Seng Tech Index and provides exposure to 30 of the largest Chinese tech firms listed in Hong Kong, such as Tencent, Alibaba and Meituan. Its first half-year return stood at 10.4 per cent.
The Lion-OCBC Securities Hang Seng Tech ETF continued to perform well amid China’s stimulus efforts and optimism on AI-related technologies despite broader macro challenges.
Its top three sectors are consumer discretionary, communications and information technology, with its AUM standing at $378 million as at May.
This ETF tracks top dividend-paying financial stocks across the Asia-Pacific via the iEdge APAC Financials Dividend Plus Index, with a 9.9 per cent return recorded for the period.
It is able to offer stable income and quality exposure to the region’s banking and insurance sectors and benefits from regional rate cut expectations.
The Lion-OCBC Securities APAC Financials Dividend Plus ETF is the fourth top-performing equity SGX-listed ETF for the half-year.
This ETF offers exposure to Vietnam’s equity market, which made gains on manufacturing recovery and foreign direct investment inflows. It tracks the FTSE Vietnam Index and benefits from Vietnam’s export-driven growth and regional supply chain shifts.
For the first half, its return stood at 9.9 per cent. It is the fifth top-performing equity SGX-listed ETF for the half-year.
The CGS-Fullgoal Vietnam 30 Sector Cap ETF tracks 30 of Vietnam’s top-performing sectors with caps to prevent over-concentration. It gives investors balanced exposure across financials, industrials and consumer sectors – key growth drivers in the country’s economy.
The ETF’s underlying index is the SGX iEdge Vietnam 30 Index and recorded a first half return of 9.7 per cent.
The ETF benefited from the recovery in property and banking stocks and Singapore dollar-focused investor sentiment amid falling local rates.
It provides exposure to large-, mid- and small-cap Singapore companies by tracking the MSCI Singapore Investable Market Total Return Net Index, with a first half return of 9.7 per cent.
Focused on high-yield real estate investment trusts (Reits) across the Asia-Pacific with strong environmental, social and governance credentials, the UOB APAC Green Reit ETF achieved the best half-year performance among the five Reit ETFs listed on the SGX.
It tracks the iEdge-UOB APAC Yield Focus Green Reit Index, with a first half return at 9.3 per cent.
The ETF recorded the highest returns among SGX’s sustainability-linked ETFs as well for the first half of 2025.
This ETF offers broad exposure to Chinese equities, including tech, financials and consumer names, as its underlying index is the MSCI China TR Net Daily USD Index. For the half-year, its returns stood at 8.9 per cent.
It tracks the performance of large- and mid-cap Chinese companies across A Shares, H Shares, B Shares, Red Chips, P Chips and foreign listings.
Amid the current murky geopolitical and global trade climate, SGX-listed Reit ETFs displayed strength in the first half, with S-Reit ETFs offering the highest returns in June. S-Reit ETFs also have the highest gross dividend indicated yields of up to 6 per cent now.
The AUM value of Reit ETFs achieved a new record of nearly $1.2 billion, surpassing the last high in September 2024 of around $1 billion.
UOB APAC Green Reit ETF recorded the top half-year returns level of 9.3 per cent, followed by Phillip APAC Div Reit ETF with 7.5 per cent.
CSOP iEdge S-Reit ETF was the best performer for the month of June, returning 4.7 per cent.
The five Reit ETFs pay out an average dividend of close to 5.2 per cent, with the CSOP iEdge S-Reit ETF’s 12-month gross yield at about 6 per cent.
According to SGX data in June, retail investors were the net buyers of S-Reits, as the sector received a total net retail inflow of around $400 million as at June 26.
The report noted that investor interest in S-Reits has been “reignited” in the first half of 2025, as reflected in strong total inflows of $155 million for the period.
THE BUSINESS TIMES