KUALA LUMPUR: The Tradeplus Shariah Gold Tracker ETF (Gold ETF) has tightened its grip as Bursa Malaysia's standout performer this year, clocking gains that have already surpassed its previous full-year returns, with almost two months still to go.
The physically-backed exchange-traded fund (ETF) has jumped 43.13 per cent year-to-date, outperforming its full-calendar advances of 21.54 per cent in 2024, 16.73 per cent in 2023 and 5.83 per cent in 2022.
It is the ETF's fastest annual climb since its debut, signalling strong demand for liquid gold exposure amid currency swings, ongoing geopolitical risk and selective investor positioning this year.
Managed by Affin Hwang Asset Management, the fund tracks the London Bullion Market Association Gold Price AM benchmark. It reached an all-time high of RM5.95 on Oct 17, which also saw heightened interest in gold-related counters across the market.
Gold has also marked a succession of record highs this year and was last quoted at RM538.98 per gram as at press time.
The metal is up more than 50 per cent year-to-date, reflecting continued demand for stability amid shifting global rate expectations and an uncertain macro backdrop.
The ETF's surge also set it apart within the broader Bursa ETF universe.
China-focused funds staged notable recoveries, with the Tradeplus S&P New China Tracker-MYR up 29.01 per cent and the Principal FTSE China 50 ETF higher by 21.19 per cent, while the EQ8 Dow Jones US Titans 50 ETF gained 17.88 per cent.
Domestic dividend and Asean strategies, however, lagged as investors favoured offshore and alternative exposures.
Launched on Dec 6, 2017 at an indicative NAV of RM1.706, the Gold ETF now carries a net asset value of about RM5.16, based on its latest Bursa filing.
Meanwhile, gold-related stocks have shown mixed performance this year, with jewellers Poh Kong Holdings Bhd and Tomei Consolidated Bhd climbing 10.77 per cent and 10.63 per cent on steady physical-gold demand.
In contrast, gold-linked explorers AuMas Resources Bhd and Niche Capital Emas Holdings Bhd have lost 9.20 per cent and 29.41 per cent respectively, while Zhulian Corp Bhd, with a diversified direct-selling portfolio, has eased by 0.90 per cent.
Like the ETF, all three jewellers and miners, except Zhulian, saw an uptick in share prices and trading volumes on Oct 17, reflecting concentrated flows into gold-exposed assets on that day.
If current momentum persists, the Gold ETF is on course to end 2025 as Bursa Malaysia's top-performing listed fund, achieving its strongest annual return since inception well before the year's final bell.