Gap between OM ETF, benchmark narrows

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THE difference between returns of the Old Mutual Exchange Traded Fund (ETF) and its benchmark — the Zimbabwe Stock Exchange (ZSE) Top Ten Index — narrowed to 63 percent at the end of May from 76 percent on March 31, 2021.
An ETF is a security that tracks another asset, index, sector or commodity, but which can be purchased or sold on an exchange the same as a regular stock.
For a number of reasons, ETFs rarely ever track the underlying perfectly.

The Old Mutual Investment Group Zimbabwe (OMIG)-sponsored instrument’s year-to-date gains closed May at 98 percent from 93 percent at the end of March, while returns of the heavies Index increased to 34 percent from 17 percent during the same period.