ETFs: “Tech is back – or never left”

Falling prices remain opportunities to buy. That continues to be the motto in ETF trading on the German stock exchange. Technology stocks are particularly popular. But emerging markets and Canada are also coming into focus for investors.

05. August 2025. Despite – or perhaps because of – the price losses at the end of the week, many investors were in a buying mood. “With significantly higher turnover, we recorded around 30 percent more purchases than sales,” reports Holger Heinrich of Baader Bank AG. Frank Mohr of Société Générale also draws a positive conclusion: “Good turnover, with a purchase surplus of 57 percent – slightly below the level of the previous week.”

US index funds: sales bucking the trend

Equity ETFs continue to account for the highest turnover – around three quarters of the total trading volume, according to Mohr. Particular focus is on US index funds, which are currently being sold rather than bought. The trader cites the iShares Core S&P 500 (IE00B5BMR087) and the JPM US Research Enhanced Index Equity SRI Paris Aligned Active (IE000I5MBLC4) as examples.

Dividend-oriented ETFs such as the UBS S&P USA Dividend Aristocrats ESG Elite (IE000JQ2IJD3) and the First Trust SMID Rising Dividend Achievers (IE0001R850E1) also recorded outflows, according to Heinrich. In contrast, he sees increased buying in standard indices (IE000Z7P04F4, IE000UBAW7M3, IE00BG04M077).
 

Global ETFs benefit from the start of the month

Globally diversified index funds benefit from the savings plan deadline: Mohr observes “significantly more purchases” at the beginning of the new month. In addition to classics such as the MSCI World (IE00B4L5Y983), actively managed ESG products such as the Invesco Global Active ESG Equity (IE00BJQRDN15) were also on the shopping lists. Heinrich adds: The Vanguard ESG Global All Cap (IE00BNG8L385), the Xtrackers MSCI Global SDGs (IE000PSF3A70) and the Frankfurter Modern Value (LU2439874319) were also in demand. On the other hand, he reports sales for the AXA IM MSCI World Equity (IE000TT7HZ88) and the BNP Paribas Easy MSCI World Equal Weight Select (IE0008D0AIU9). 

European ETFs: No clear trend

According to Heinrich, the picture in the European ETF segment is balanced: “There is no clear trend discernible.” Purchases and sales are also taking place in sub-segments such as small caps. The UBS MSCI EMU Small Cap (LU0671493277) is in demand, while the iShares EURO STOXX Small (IE00B02KXM00) is being sold off. Mohr names the iShares MSCI EMU Screened (IE00BFNM3B99) on the buy side and the iShares Core EURO STOXX 50 (DE0005933956) on the sell side.
 

Emerging markets and Canada on the rise

Away from established markets, investors are increasingly turning to emerging markets. The Amundi MSCI Emerging Markets ESG Broad Transition (LU2109787049) and the iShares MSCI EM IMI Screened (IE00BFNM3P36) are in high demand. Mohr also highlights strong inflows into the UBS MSCI Canada (LU0446734872) – Canadian stocks have recently recovered faster than many of their US counterparts.
 

Tech remains the star

Sector ETFs are once again showing a clear preference for tech stocks. “Tech is back – or never left,” says Mohr, referring to a significant buying surplus. Particularly in demand are:
• iShares S&P 500 Information Technology (IE00B3WJKG14)
• Xtrackers MSCI World Information Technology (IE00BM67HT60)
• Xtrackers Artificial Intelligence & Big Data (IE00BGV5VN51)
• First Trust Nasdaq Cybersecurity (IE00BF16M727)
• Xtrackers Future Mobility (IE00BGV5VR99)
• VanEck Space Innovators (IE000YU9K6K2)
 

Cryptocurrencies: Bitcoin with high turnover

According to Orlemann, the crypto market is also picking up again. Around 200,000 units were traded in WisdomTree Physical Bitcoin (GB00BJYDH287) last week – an exceptionally high volume.

Von Thomas Koch, 5. August 2025, © Deutsche Börse AG