Global equity funds and ETFs, including energy and natural resource funds, suffer double-digit losses from tariffs.

From Morningstar: 2025-04-09 11:46:00

Global equity markets experienced extreme volatility in April, resulting in double-digit losses for multiple funds and ETFs available to UK and European investors. Energy, natural resources, and Japan-focused funds were among the biggest losers.

Among European investors, the worst 10 performers saw losses between 15% and 19% over a one-week period. Crypto tracker CoinShares XBT Provider Ether Tracker Euro XBT Provider Ethereum XBTE suffered the biggest loss at 18.68% in the past week.

Natural resource equity funds and energy equity ETFs were hit hard, with Copper Miners COPG and iShares Oil & Gas Exploration & Production SPOG among the notable losers. Copper prices have fallen due to reduced growth forecasts, impacting global economy-related commodities.

Japan’s Nikkei 225 benchmark declined over 9.5% in five days, affecting Japan equity funds like Nikko AM Japan Value D GBP Hedge and Alma Eikoh Japan L-Cap Eq I GBP Hedged. The yen, a safe-haven currency, strengthened against the pound and US dollar, affecting hedged share classes.

Baillie Gifford Worldwide Long Term Global Growth, the largest fund, fell 15.42% in one week, bringing 2025 losses to 20.41%. While it recovered from losses in 2022, the fund has a three-year annualized loss of 3.15%. Long-term investors are advised on weathering the storm amidst tariff turmoil.



Read more at Morningstar: These Funds Have Taken The Biggest Hit From Tariffs