The SIAML Pension ETF 40 recorded the steepest decline among Exchange Traded Funds listed on the Nigerian Exchange in August 2026, falling 43.86% to lead a broad pullback across the segment, with ten of the twelve tracked funds recording losses and only two closing the month in positive territory.
Nairametrics Research analysis of NGX trading data shows that August generated total trading volume of 9.81 million units, with total transaction value reaching N2.10 billion across all twelve funds.
Price performance was broadly negative, with ten funds declining and only two advancing, representing a sharp reversal of the recovery recorded in July 2026. Trading activity also moderated relative to the prior month.
It is important to note that 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.
Price performance across the ETF segment was broadly negative in August 2026, with ten decliners and only two gainers.
On the losing side, ten ETFs closed August in negative territory.
Total ETF trading volume in August stood at 9.81 million units, with total transaction value reaching N2.10 billion, representing a 23.0% decline in volume and a 12.3% decline in transaction value compared with July’s 12.74 million units and N2.39 billion respectively.
The NewGold Exchange Traded Fund remained the least traded by volume in August, with just 1,599 units exchanged. Its high unit price, however, meant it still generated N162.64 million in transaction value during the month.
In an earlier article published by Nairametrics, the July 2026 performance of NGX-listed ETFs was reported, covering price returns from July 1 to July 31, 2026.
