The Nigerian Exchange (NGX) Exchange-Traded Fund (ETF) segment experienced a sharp correction in August 2026, with ten of the twelve tracked funds recording losses. The SIAML Pension ETF 40 led the decline, plummeting 43.86%, while the Stanbic IBTC ETF 30 followed with a 41.07% drop. Only the Vetiva Banking ETF and the Vetiva Griffin 30 ETF closed the month with gains, each rising 2.83%. Overall, total trading volume for the month fell 23% to 9.81 million units, with transaction value declining 12.3% to N2.10 billion. Analysts note that thin liquidity in some ETFs often causes price swings that may deviate from underlying asset values.