ETFs
The worst performing ETFs of the month
Exchange-traded funds, or ETFs, are often inexpensive vehicles that allow investors to track popular indexes or take advantage of the picks of experienced managers to try to beat the market. The best of them serve as the basis of a portfolio, and unlike open-end mutual funds, all ETFs trade throughout the day on stock exchanges.
As of April 2024, the worst performers were VanEck Crypto & Blockchain Innovators UCITS ETF (DAPP) and iShares Blockchain Technology UCITS ETF (BLKC). Data in this article comes from Morningstar Direct.
To learn more about the best performing ETFs, discover our other story.
To find the worst performing ETFs of the month, we looked at those in Morningstar’s Equity, Allocation or Fixed Income categories available in the UK. We excluded exchange-traded notes, known as ETNs, and ETFs with total assets of less than $25 million (£20.0 million). We also excluded funds that fall into Morningstar’s “trading” categories, as these funds are designed for active traders and are not suitable for long-term investors.
Among the worst-performing ETFs, three were in the Indonesian equities category, where funds fell 7.23% in April.
The 10 Worst Performing ETFs of April 2024
1. VanEck Crypto & Blockchain Innovators UCITS ETF (DAPP)
2. iShares Blockchain Technology UCITS ETF (BLKC)
3. Invesco CoinShares Global Blockchain UCITS ETF (BCHN)
4. Invesco UCITS ETF on solar energy (ISUN)
5. Xtrackers MSCI Europe Information Technology ESG Screened UCITS ETF (XS8R)
6. HSBC MSCI Indonesia UCITS ETF (HIDDEN)
7. Amundi MSCI Indonesia UCITS ETF (INDO)
8. Xtrackers MSCI Indonesia Swap UCITS ETF (XMIN)
9. Invesco Real Estate S&P US Select Sector UCITS ETF (XRES)
10. WisdomTree Cloud Computing UCITS ETF (WCLD)
Metrics for worst performing ETFs
VanEck Crypto & Blockchain Innovators UCITS ETF
• Morningstar Rating: N/A
• Ongoing charges: 0.65%
• Morningstar Category: Equity Technology
The worst performing ETF in April was the £93m VanEck Crypto & Blockchain Innovators UCITS ETF, which lost 22.69%. The passively managed VanEck ETF fell further than the 3.05% average loss on funds in the technology stock category in April. Over the past 12 months, the VanEck Crypto & Blockchain Innovators UCITS ETF is up 66.74%, placing it in the 2nd percentile of its category and outperforming the average fund’s return of 26.96%.
The VanEck Crypto & Blockchain Innovators UCITS ETF, launched in April 2021, has a Bronze Medal Morningstar Rating.
iShares Blockchain Technology UCITS ETF
• Morningstar Rating: N/A
• Ongoing charges: 0.50%
• Morningstar Category: Equity Technology
With a loss of 19.23%, the £35m iShares Blockchain Technology UCITS ETF was the second worst performing ETF on our list for April. The passively managed iShares ETF fell further than the average 3.05% loss on funds in the technology stock category. Over the past 12 months, the iShares Blockchain Technology UCITS ETF has gained 52.26%, placing it in the 7th percentile in its category and outperforming the average fund’s return of 26.96%.
The Gold-rated iShares Blockchain Technology UCITS ETF was launched in September 2022.
Invesco CoinShares Global Blockchain UCITS ETF
• Morningstar Rating: ★★
• Ongoing charges: 0.65%
• Morningstar Category: Equity Technology
The third worst performing ETF in April was the £460m Invesco CoinShares Global Blockchain UCITS ETF, down 15.95%. The Invesco ETF, which is passively managed, fell further than the average loss of 3.05% on funds in the technology stock category. Over the past 12 months, the ETF is up 39.67% to rank in the 27th percentile in its category, outperforming the category’s average one-year return of 26.96%.
The Invesco CoinShares Global Blockchain UCITS ETF has a Bronze Medal Morningstar Rating. It was launched in March 2019.
Invesco Solar Energy UCITS ETF
• Morningstar Rating: N/A
• Ongoing charges: 0.69%
• Morningstar Category: Alternative Energy Stocks
The £47m Invesco Solar Energy UCITS ETF was the fourth worst performing ETF in April, with a loss of 9.55%. The passively managed Invesco ETF underperformed the 1.75% average loss of funds in the alternative energy equity category. Over the past year, the ETF has fallen 43.45% to be in the 100th percentile in its category, an even bigger decline than the category’s average one-year loss of 14.32%.
The Invesco Solar Energy UCITS ETF takes into account environmental, social and governance issues criteria in consideration. This fund has a Morningstar Medalist rating of neutral.
Xtrackers MSCI Europe Information Technology ESG Screened UCITS ETF
• Morningstar Rating: ★★★
• Ongoing charges: 0.17%
• Morningstar Category: Equity Technology
The fifth worst performer was the £41m Xtrackers MSCI Europe Information Technology ESG Screened UCITS ETF, which lost 7.84% in April. The passively managed Xtrackers ETF fell further than the average 3.05% decline for funds in the technology stock category. Over the past year, the Xtrackers MSCI Europe Information Technology ESG Screened UCITS ETF is up 20.99%, finishing in the 67th percentile in its category. It underperformed the category’s average one-year return of 26.96%.
The Xtrackers MSCI Europe Information Technology ESG Screened UCITS ETF has a Bronze Medal Morningstar Rating. It was launched in June 2007.
HSBC MSCI Indonesia UCITS ETF
• Morningstar Rating: ★★★★★
• Ongoing charges: 0.50%
• Morningstar Category: Indonesian Equities
The sixth worst performing ETF in April was the £72m HSBC MSCI Indonesia UCITS ETF, which lost 7.78%. The passively managed HSBC ETF performed roughly in line with the average loss of 7.23% on funds in the Indonesian equity category. Over the past 12 months, the HSBC MSCI Indonesia UCITS ETF has fallen 11.49%, putting it in the 52nd percentile in its category and down less than the average fund’s 12.71% loss.
The HSBC MSCI Indonesia UCITS ETF has a Morningstar Medalist rating of Silver. It was launched in March 2011.
Amundi MSCI Indonesia UCITS ETF
• Morningstar Rating: ★★★★★
• Ongoing charges: 0.45%
• Morningstar Category: Indonesian Equities
With a loss of 7.78%, the £44m Amundi MSCI Indonesia UCITS ETF was the seventh worst performing ETF on our list for April. The passively managed Amundi ETF performed roughly in line with the 7.23% average loss of funds in the Indonesian equity category. Over the past 12 months, the Amundi MSCI Indonesia UCITS ETF has lost 11.38%, putting it in the 65th percentile of its category and sending it down less than the average fund’s loss of 12.71%.
The Amundi MSCI Indonesia UCITS ETF, launched in March 2019, has a Morningstar Medalist Gold rating.
Xtrackers MSCI Indonesia Swap UCITS ETF
• Morningstar Rating: ★★★★★
• Ongoing charges: 0.65%
• Morningstar Category: Indonesian Equities
The eighth worst performing ETF in April was the £39m Xtrackers MSCI Indonesia Swap UCITS ETF, down 7.77%. The Xtrackers ETF, which is passively managed, performed roughly in line with the average loss of 7.23% across funds in the Indonesian equity category. Over the past 12 months, the ETF has fallen 11.55% to rank in the 54th percentile in its category, a lower decline than the average one-year loss of 12.71%.
The Xtrackers MSCI Indonesia Swap UCITS ETF, launched in March 2010, has a Morningstar Medalist rating of Silver.
Invesco Real Estate S&P US Select Sector UCITS ETF
• Morningstar Rating: ★★★★★
• Ongoing charges: 0.14%
• Morningstar Category: Real Estate – Indirect North America
The £64m Invesco Real Estate S&P US Select Sector UCITS ETF was the ninth worst performing ETF in April, falling 7.72%. The passively managed Invesco ETF underperformed the average loss of 4.95% across funds in the Real Estate – Indirect category in North America. Over the past year, the ETF has fallen 0.97% to land in the 77th percentile, underperforming the category’s average one-year return of 1.10%.
The Invesco Real Estate S&P US Select Sector UCITS ETF has a Morningstar Medalist rating of Silver. It was launched in February 2016.
WisdomTree Cloud Computing UCITS ETF
• Morningstar Rating: ★
• Ongoing charges: 0.40%
• Morningstar Category: Equity Technology
Tenth worst was the £272m WisdomTree Cloud Computing UCITS ETF, which lost 7.48% in April. The passively managed WisdomTree ETF fell further than the 3.05% average loss on funds in the technology stock category for the month. Over the past year, the WisdomTree Cloud Computing UCITS ETF rose 20.42%, finishing the 12-month period in the 68th percentile in the technology stock category. It underperformed the category’s average one-year return of 26.96%.
The Bronze-rated WisdomTree Cloud Computing UCITS ETF was launched in September 2019.
What are ETFs?
Exchange traded funds are investments that trade throughout the day on a stock exchange, much like individual stocks. They differ from traditional mutual funds – called open-end funds – which can only be bought or sold at one price each day. Historically, ETFs have tracked indexes, but in recent years more and more ETFs have been actively managed. ETFs cover a range of asset classes, including stocks, bonds, commodities and, more recently, cryptocurrencies.
ETF: other ideas to consider
Investors who want to find more ETF investment ideas can do the following:
• Read the latest ETF articles.
• Use the ETF Filter to find the best ETFs based on your specific criteria. You can search for funds by their fees, Morningstar Medalist ratings, manager tenures, and more.
• Compare funds and ETFs side by side and easily track their reviews, ratings and fees.
This article was compiled by Bella Albrecht, edited by Lauren Solberg, and reviewed by Sunniva Kolostyak.
As part of our mission to put more information in the hands of investors, this article was compiled using Morningstar data and independent research using automation technology. The original article was written by Morningstar reporters and editors. This updated version has been reviewed by an editor.