September brought more pain to ASX investors as the benchmark S&P/ASX 200 Index (ASX: XJO) slid by 7.3%.
But amidst the broader market weakness, some ASX exchange-traded funds (ETFs) lit up green across the month.
Let's take a look at the best-performing ETFs on the ASX in September. Before we dive in, it's worth noting that this list is limited to the ~190 ASX ETFs tracked by Google Finance.
VanEck Australian Property ETF (ASX: MVA)
According to Google Finance, MVA topped the ETF tables in September with a 7.7% gain.
The MVA ETF invests in a basket of ASX real estate investment trusts (REITs), such as Scentre Group (ASX: SCG) and Goodman Group (ASX: GMG).
The S&P/ASX 200 A-REIT Index (ASX: XPJ) actually shed 13.7% in September, yet the MVA ETF bizarrely shot up in the other direction.
Upon closer inspection, the MVA ETF was sitting well and truly in the red for most of the month. Had the ASX closed at 3pm on Friday last week, MVA would have finished September at $18.86, down 11.7%.
But a few (possibly errant) trades at the 11th hour saw the MVA price suddenly rocket to $23.
Unsurprisingly, the MVA ETF fell back to earth yesterday, tumbling nearly 18% to close the day at $18.92, back in line with recent prices.
BetaShares US Dollar ETF (ASX: USD)
Had it not been for MVA's unusual trading activity, the BetaShares US Dollar ETF would have taken out the top spot as the best-performing ASX ETF in September.
The USD ETF notched up a monthly rise of 5.8% as the greenback grew even stronger.
The USD ETF aims to track the performance of the US dollar against the Aussie dollar. If the greenback goes up 10% against AUD, the ETF is designed to go up by 10% as well, before fees and expenses.
Across the month, the USD/AUD exchange rate soared from $1.46 to $1.56, representing a rough 6.8% rise.
Swift interest rate rises from the US Federal Reserve and the relative health of the US economy have seen investors flood into the US dollar. This, in turn, has pushed up the value of the US dollar, particularly against currencies such as the British pound and Japanese yen.
VanEck Gold Miners ETF AUD (ASX: GDX)
Rounding out the top three is the VanEck Gold Miners ETF, which delivered a monthly gain of 4.5%.
The GDX ETF aims to provide investors with global exposure to a diversified portfolio of companies in the gold mining industry. Its top holdings include the likes of Newmont Corporation (NYSE: NEM), Barrick Gold Corp (NYSE: GOLD), and Newcrest Mining Ltd (ASX: NCM).
Gold is often seen as a safe haven for investors during times of market turmoil.
This rang true in September as gold shares held their ground while the market floundered.
This came despite the spot price of gold trending lower across the month, finishing at around US$1,672 an ounce. In fact, according to Reuters, the precious metal was headed towards its worst quarter since March 2021.
