Exchange Traded Funds (ETFs) listed on the Nigerian Exchange (NGX) recorded a broadly positive performance in the week ended May 8, 2026, with the SIAML Pension ETF 40 leading the gainers after surging 58.78% to N9,349.99, as most tracked ETFs closed in the green.
- +NGX ETFs rebound strongly as trading value rises to N1.11 billion
Data compiled by Nairametrics Research from NGX trading activity shows that both total trading volume and transaction value increased week-on-week, reflecting stronger investor participation and renewed interest in ETF products following the sharp selloff recorded in the previous week.
Data compiled by Nairametrics Research from NGX trading activity shows that both total trading volume and transaction value increased week-on-week, reflecting stronger investor participation and renewed interest in ETF products following the sharp selloff recorded in the previous week.
The positive performance was widespread across the ETF market, with major funds such as the Stanbic IBTC ETF 30, Lotus Halal Equity ETF, and Vetiva Griffin 30 ETF posting double-digit gains during the period.
The rebound across several funds suggests improved market sentiment and bargain hunting by investors after steep declines in the previous week.
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.
ETF performance during the week was marked by strong recoveries across most funds, with several ETFs reversing losses recorded in the prior week.
On the losing side, the Vetiva S&P Nigeria Sovereign Bond ETF fell 3.85% to N250, while the Meristem Value ETF dropped 9.63% to close at N126.3. The Meristem Growth ETF recorded the steepest decline among laggards, shedding 27.71% to close at N98.6.
ETF trading activity strengthened during the week, with total trading volume rising to 7.59 million units while the total value of transactions increased to N1.11 billion, reflecting stronger market participation compared to the previous week.
The NewGold ETF traded just 791 units during the week, making it the least traded ETF by volume. With such low trading activity, small transactions can significantly influence price movement, meaning price changes may not necessarily reflect shifts in the underlying value of the asset.
A previous report by Nairametrics highlighted that ETFs on the Nigerian Exchange recorded broad losses in April 2026, providing context for the rebound seen in the week ended May 8, 2026.
