We're now 20 days into the second month of Spring. But it sure has been a bumpy ride for ASX shares so far this October. Sure, the S&P/ASX 200 Index (ASX: XJO) is up a pleasing 3.9% so far this month. But we have certainly had a few bumps and bruises along the way (including from today's session).
So what better time to examine the best ASX exchange-traded funds (ETFs) of the month so far.
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The best-performing ASX ETFs of October so far
Global X EURO STOXX 50 ETF (ASX: ESTX)
First up today is an ETF from the newly renamed Global X ETFs (formerly ETF Securities). The Euro STOXX 50 ETF is a fund covering the 50 largest companies on the European markets. It holds companies like LVMH Moet Hennessey, SAP and L'Oreal.
October seems to have been a killer month for European shares, with this ETF up a solid 9% since the start of October. Exchange rate movements have probably helped here too.
BetaSahres Geared Australian Equity Fund (ASX: GEAR)
Another ETF that has been enjoying October is this offering from provider BetaShares. The Geared Australian Fund is an interesting one. As its name suggests, it is a fund that employs a gearing (or borrowed money) strategy to amplify the returns of the ASX 200.
Since the ASX 200 has had a relatively strong month, this ETF has done even better, giving investors a return of 9.74% since the end of September.
But gearing cuts both ways, and we can expect a fund like this to rack up greater losses than the broader market during selling periods.
VanEck Australian Banks ETF (ASX: MVB)
Our third and final ETF is from yet another provider in VanEck. As the name suggests, the VanEck Australian Banks ETF tracks a basket of… well, bank shares. It only holds seven ASX shares in its portfolio.
These include the big four banks, like Commonwealth Bank of Australia (ASX: CBA). But it also includes those outside the big four, such as Macquarie Group Ltd (AX: MQG) and Bendigo and Adelaide Bank Ltd (ASX: BEN).
It's been a cracker of a month for ASX banks, with this ETF up a very pleasing 11.07% over October so far.
