Exchange-traded funds betting against the market were among the few to post double-digit returns in April, as a global rout in equity markets stopped the fast-growing local ETF industry in its tracks.

That’s according to data compiled by Betashares, which showed two short-strategy funds – Global X Ultra Short Nasdaq 100 Hedge Fund and the Betashares Geared Short US Treasury Bond Fund – were the best-performing local ETFs in April, returning 11.7 per cent and 11.5 per cent, respectively.