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EghtesadOnline: A monthly report by the Central Securities Depository of Iran shows that the value of exchange-traded funds crossed 184 trillion rials ($1.6b) by the end of the last calendar month to October 22.

The value increased by 7.6% over the earlier month when ETFs were worth 170.31 trillion rials.

According to the CSDI website, there were a total of 39 ETFs operating in the domestic capital market during the month. 

An ETF is a type of fund that owns underlying assets (shares, stocks, bonds, oil futures, gold bullion and foreign currency) and divides ownership of those assets into shares, according to Financial Tribune.

ETFs hold multiple underlying assets, rather than only one like a stock. An ETF can own hundreds or thousands of stocks across various industries, or it could be isolated to one particular industry or sector.

 

Top-Performers

CSDI  named the top 10 ETFs in terms of total capital market value.

The top-performer was Arman Parand Mapna Project Fund. The fund’s value stood at 44.5 trillion rials, rising 2.5 trillion rials above the last month’s figure. 

The next was Parand Paydar Sepehr Fund that was worth 20.18 trillion rials. 

Amin Yekom Farda Fund came in third with 15.2 trillion rials. 

The fund made a dramatic improvement over its sixth rank a month earlier when it was worth 10.2 trillion rials.  

Kamand Fixed Income Investment Fund was next with 15.16 trillion rials. 

This was followed by Etemad Afarin Parsian Fund with 13.44 trillion rials, Arman Ati Kosar Fund with 10.47 trillion rials. 

At the bottom of the list were Kian Fund, Yekom Development Equity Bonus Fund and Tose Andukhte Fund.

A past study on the performance of domestic ETFs indicates that the funds are stumbling despite the fact that on the global and regional level they continue to expand both in value and variety. 

Data shows that since inception in 1990, the value of ETF assets across continents reached $4 trillion by April 2017 and exceeded $5 trillion by the end of January 2018, indicating their increasing popularity. 

The US has the biggest ETF market in the world, holding 71% of the total value of ETF assets followed by Europe and Japan with  17% and 6%, respectively.   

 

Iran Central Securities Depository value ETFs exchange-traded funds