Nigerian Exchange ETFs face volatility with August losses and recent recovery

The Nigerian Exchange (NGX) ETF market experienced significant volatility, characterized by a sharp pullback in August 2026 followed by recent sessions of positive momentum.

In August, ten out of twelve listed ETFs closed in negative territory. The SIAML Pension ETF 40 saw the most substantial decline, plunging 43.86% and losing its N20 billion market capitalization milestone. Other major losers included the Stanbic IBTC ETF 30, which fell 41.07%, and the Greenwich Alpha ETF, which dropped 17.21%. During this period, total ETF trading volume decreased to 9.81 million units valued at N2.10 billion, down from July levels.

More recently, the ETF segment has shown signs of recovery. The NEWGOLD ETF and SIAMLETF40 recorded fresh gains, with NEWGOLD climbing to N99,999.00. Other funds, including VSPBONDETF, VETINDETF, and VETGOODS, also closed higher. This recent trend suggests investors are increasingly utilizing diversified investment products to complement direct equity investments as market sentiment gradually strengthens.