Rhodium was 2017’s best performing asset out of those available as exchange-traded products to JSE investors. A comparison of JSE’s range of exchange-traded products — an umbrella term for exchange-traded funds (ETFs), which have to physically own their underlying assets, and exchange-traded notes (ETNs), which can synthetically track prices using futures contracts — are a handy way of ranking the performance of different geographical areas and commodities over the year. Though Standard Bank’s AfricaRhodium ETF briefly spiked at R299 on October 24 before plunging back to end the year at R206.54, it still managed an annual gain of 100.45%. Local was generally lekker in 2017, and emerging markets beat developed markets. Thanks to Naspers’s 68% rise over the year, the JSE’s best performing sector was industrial. This placed the Satrix Indi ETF which tracks the industrial index in eighth place with a 23% gain. Absa’s NewFunds Swix 40 ETF, which re-weighs the top 40 index to exclude fore...
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