The Nigerian Exchange’s Exchange-Traded Funds (ETFs) experienced an extraordinary performance in January 2026, driven by an order-flow driven rally and growing investor appetite for diversified investment vehicles, rather than fundamental analysis. Several ETFs outperformed the NGX-All-Share Index (ASI), which posted a 6.27% return in January 2026.

Some smaller ETFs delivered impressive double-digit returns. The month-to-date (MTD) performance in January ranged from 35% to 322%, a significant increase compared to the year-to-date (YTD) return of 5% to 170% recorded in 2025.

Total ETF trading volume in January reached 6.33 million units, while the total value rose to N1.51 billion, indicating a significant surge in market activity. There are twelve ETFs listed on NGX. The remaining two, Vetiva Grifin 30 ETF and NewGold Exchange Traded Fund (ETF), posted 36.64% and 35.25%, respectively.

According to Nairametrics Research, if the NGX 30 Index did not rise 237% in January, then Stanbic IBTC ETF 30’s return reflects price dislocation rather than index replication. ETFs typically track a specific stock index, sector, or asset class, such as banking stocks, consumer goods companies, industrial firms, or government bonds. Their strong showing in January suggests that investors preferred targeted exposure to specific sectors rather than buying the entire market.

Data as of January 30, 2026, computed by Nairametrics Research from the Nigerian Exchange Group (NGX), shows increased trading activity in ETFs. This reflects growing awareness and participation from both retail and institutional investors who want simple, low-cost exposure to structured portfolios.

Below are the top 10 best-performing ETFs for January 2026, ranked by year-to-date (YTD) return.

Despite being the lowest-performing ETF on the list, Vetiva Consumer Goods ETF still recorded a solid 45.18% return, price moved from N39 to N56.62. This ETF posted 126.74% YTD for 2025.

This ETF focuses on the consumer goods sector, which showed strong growth as demand for consumer products rose in Nigeria. Managed by Vetiva Capital Management, it offers a stable investment for those looking for exposure to Nigeria’s growing consumer market.