Exchange Traded Funds (ETFs) listed on the Nigerian Exchange (NGX) recorded weaker trading activity in May 2026, as total transaction value fell to N3.67 billion from N3.71 billion in April.
- +ETF turnover falls to N3.67 billion despite broad gains in May
Data compiled by Nairametrics Research from NGX trading activity shows that total trading volume also declined marginally month-on-month, falling to 25.92 million units from 26.90 million units, reflecting a slight moderation in investor participation across the ETF segment.
Data compiled by Nairametrics Research from NGX trading activity shows that total trading volume also declined marginally month-on-month, falling to 25.92 million units from 26.90 million units, reflecting a slight moderation in investor participation across the ETF segment.
The month’s price performance was broadly positive, with nine of the twelve tracked ETFs recording gains, while three funds closed lower.
May marked a sharp turnaround from April, when nearly the entire ETF market closed lower.
ETF price movements on the NGX may not fully reflect underlying asset values, as relatively thin liquidity can cause significant deviations from net asset value (NAV). Consequently, sharp price swings are often influenced more by trading activity than by changes in the fundamentals of the underlying assets.
Although trading activity weakened slightly during the month, ETF price performance was largely positive, with nine gainers and three losers.
On the losing side, three ETFs closed the month in negative territory, with losses concentrated in Greenwich Alpha ETF, NewGold ETF, and Meristem Growth ETF.
ETF trading activity weakened slightly during the month, with total trading volume falling to 25.92 million units from 26.90 million units in April.
In April 2026, ETF performance on the Nigerian Exchange was broadly negative, as eleven of the twelve tracked ETFs closed the month in the red.
