ETFs: “Emerging Markets Are Gaining Traction Again”
Gold ETCs and gold mining ETFs remain popular, as do equity ETFs. In addition to stocks from developed markets, those from emerging markets are also proving extremely popular right now. The rush for crypto ETNs has subsided.
September 1, 2026. FRANKFURT (Deutsche Börse). High oil prices, high inflation, high interest rates—after the DAX hit new all-time highs last week, a sense of disillusionment has set in this week. Nevertheless, the buying mood in the ETF market persists. Holger Heinrich of Baader Bank reports nearly twice as many purchases as sales of equity ETFs—amid slightly declining trading volumes.
Gold remains a major topic: Although the gold price rally has not continued, after surpassing $4,660 last week, the price per troy ounce is now back down to just $4,374. However, gold ETCs and gold mining ETFs remain extremely popular. Invesco gold price ETCs—both currency-hedged (XS2183935274) and unhedged (IE00B579F325)—are in high demand among ICF Bank’s clients, as reported by Ivo Orlemann.
Flight to Gold
In the first three weeks of August alone, gold ETCs recorded historic capital inflows totaling over $5 billion, according to the ETF information platform ETF Stream. “Driven by ongoing concerns about the massive U.S. debt burden and the persistently high level of U.S. Treasury yields, investors in Europe are specifically seeking protection in the form of gold,” the report states. European gold mining ETFs also saw inflows, particularly the two largest UCITS strategies, iShares Gold Producers and VanEck Gold Miners, ETF Stream reports, citing figures from the data provider ETFBOOK.
- Learn more: etfstream.com
Bitcoin ETNs: “Sometimes bought, sometimes sold”
The Bitcoin rally has also run its course. Two weeks ago, the leading cryptocurrency rose from around $63,000 to briefly exceed $80,000 in a short period of time. It currently stands at less than $78,000. Last week’s rush on crypto-ETNs has not continued. Andreas Schröer of Lang & Schwarz still sees some trading volume, especially in Bitcoin ETNs (GB00BLD4ZL17). “Depending on the news, however, investors sometimes buy and sometimes sell,” he explains. Trading in crypto ETNs is also slow at ICF Bank. Only the WisdomTree Physical Bitcoin (GB00BJYDH287) makes it onto the top 10 list by trading volume.
Gerd Kommer-ETF: Popularity for Special Weighting
It’s business as usual in the equity ETF market. According to Orlemann, the VanEck Morningstar Developed Markets Dividend Leaders (NL0011683594) is in demand—as always. Also extremely popular: the L&G Gerd Kommer Multifactor Equity (IE0001UQQ933). The ETF provides exposure to stocks from developed and emerging markets worldwide, including small-, mid-, and large-cap companies. Unlike typical approaches, the country weighting is based 50 percent on market capitalization and 50 percent on national GDP; furthermore, factors such as size and value are used to weight individual securities. Since the beginning of the year, the fund has posted a 16 percent gain.
Baader Bank’s clients are focusing on active and value strategies in the World Tracker segment, such as those from iShares (IE000D8XC064) or WisdomTree (IE000D1017N2). “There is no clear trend in U.S. stocks; investors are tending to switch between different segments,” Heinrich adds. Classic S&P 500 and Nasdaq ETFs from Ossiam (LU2997383372) and BNP Paribas (IE000QDFFK00) are being bought, while the currency-hedged Invesco S&P 500 Scored & Screened (IE000QF66PE6) is being sold. ICF trader Orlemann reports more sales than purchases for Amundi’s Nasdaq tracker (LU2197908721). Among Lang & Schwarz’s trading-oriented clientele, leveraged Nasdaq ETFs are also popular, such as Amundi’s 2x leveraged ETF (FR0010342592).
Emerging Markets: 25 Percent Price Gain
According to Heinrich, European stocks are also bought and sold from time to time. He sees buying in traditional MSCI Europe trackers from UBS (LU0950668524) and selling in the Xtrackers DAX ESG Screened (LU0838782315). Lang & Schwarz is also seeing a lot of activity in the emerging markets ETF business. The iShares Core MSCI EM IMI (IE00BKM4GZ66) is generating strong trading volume. It has posted a 25 percent gain since the start of the year, outperforming both the S&P 500 (up 12 percent) and the Nasdaq 100 (up 17 percent).
In addition, defense ETFs such as the VanEck Defense (IE000YYE6WK5) are being sold off in the sector ETF market, as Orlemann notes.
By Anna-Maria Borse, September 1, 2026, © Deutsche Börse AG
About the Author
Anna-Maria Borse is a finance and business editor specializing in financial markets, the stock market, and economic issues.
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