3 top-performing ASX ETFs in the first quarter of FY23

It's an all-BetaShares affair…

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With the first quarter of the new financial year done and dusted, it's an opportune time to take stock.

It was an eventful three months for the S&P/ASX 200 Index (ASX: XJO), which staged a comeback in August before giving back these gains in September.

In the end, the ASX 200 slipped by 1.4% across the quarter to finish at 6,474 points.

But that didn't stop some ASX exchange-traded funds (ETFs) from knocking it out of the park.

Using data from Google Finance, let's take a look at the three best-performing ASX ETFs in the first quarter of FY23.

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BetaShares Global Uranium ETF (ASX: URNM)

Leading the way in Q1 was the BetaShares Global Uranium ETF, taking out the gold medal with a quarterly gain of 21.8%.

As its name suggests, the URNM ETF aims to provide investors with exposure to a portfolio of leading companies in the global uranium industry.

This includes companies involved in the mining, exploration, development, and production of uranium and modern nuclear energy. It also includes companies that hold physical uranium or uranium royalties.

The URNM ETF comprises around 35 companies. At the moment, its top three holdings are Cameco Corp (NYSE: CCJ), NAC Kazatomprom (LSE: KAP), and Sprott Physical Uranium Trust (TSE: U.U), which account for nearly 43% of the portfolio.

Uranium shares have been on a tear this year as Russia's invasion of Ukraine has sent global energy markets into a tailspin. Countries have been turning to nuclear energy as a solution, which has sent uranium prices skyward.

BetaShares Crypto Innovators ETF (ASX: CRYP)

Next up, the silver medal goes to the BetaShares Crypto Innovators ETF, which soared by 20.2% across the quarter to finish at $2.68.

The CRYP ETF aims to provide investors with 'picks and shovels' exposure to companies at the forefront of the crypto economy. This includes crypto trading platforms, companies building crypto mining equipment, and companies that have significant investments in crypto.

The CRYP ETF currently invests in around 30 companies. Top holdings include Coinbase Global Inc (NASDAQ: COIN), MicroStrategy Incorporated (NASDAQ: MSTR), and Marathon Digital Holdings Inc (NASDAQ: MARA).

Crypto markets have been hammered since the beginning of 2022. But they've found some support in the new financial year.

The Ethereum price jumped 24% across the quarter to finish at around US$1,300. However, the Bitcoin price didn't fare as well, shedding roughly 3% to end at around US$19,500.

This comes amid hopes that the US Federal Reserve might slow down interest rate hikes. According to Forbes, experts believe cryptocurrencies offer a hedge against currency deflation, which is what could happen if interest rate hikes ease.

BetaShares Solar ETF (ASX: TANN)

Rounding out this all-BetaShares podium is the Solar ETF. It lit up with a quarterly gain of 14.4% to finish at $12.73.

The TANN ETF is a relatively new addition to the ASX, joining the ranks in June 2022. It aims to provide investors with exposure to a portfolio of global companies in the solar energy industry.

This includes solar panel manufacturers, inverter suppliers, installers, manufacturers of solar-powered charging systems, and providers of solar project finance.

There are currently 40 companies in the TANN ETF. Top holdings include First Solar Inc (NASDAQ: FSLR), a leading solar panel manufacturer; Enphase Energy Inc (NASDAQ: ENPH), a manufacturer of solar microinverters; and Tesla Inc (NASDAQ: TSLA), the renowned electric vehicle maker.

These companies enjoyed stellar quarters of their own, seemingly boosted by a recently-passed climate bill in the US. First Solar was the standout as its shares soared to new heights, nearly doubling across the three months to US$132.27.

Motley Fool contributor Cathryn Goh has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Betashares Crypto Innovators ETF, Coinbase Global, Inc., and Tesla. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended First Solar. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin and Ethereum. The Motley Fool Australia has positions in and recommends Bitcoin and Ethereum. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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