The S&P/ASX 200 Accumulation Index was down 0.35% in October. This was the result of a weaker month from the Financials sector which makes up approximately 32% of the ASX200. A higher concentration of Financials into the top end of the index resulted in a monthly return in the S&P/ASX 20 Accumulation Index of –0.84%.
VanEck Vectors Australian Banks ETF (MVB) produced the lowest return amongst the domestic mandated ETFs with –3.5%. MVB aims to replicate the returns of the MVIS Australia Banks Index which is a rules based index that tracks the performance of the largest and most liquid ASX-listed companies that generate at least 50% of their revenues or assets from the Australian banking sector. The index focuses on liquidity, must have a minimum 6 holdings and a maximum weight of each holding of 20%
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