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European ETF turnover slips despite market recovery

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Exchanged-based equity ETF turnover declined again on the previous week despite the slight market recovery, according to Deutsche Bank.

Exchanged-based equity ETF turnover declined again on the previous week despite the slight market recovery, according to Deutsche Bank.

Turnover declined 4.8 per cent with a total monthly average daily turnover of EUR1.048bn.

European fixed income ETF turnover declined four per cent to E221m with money market ETFs continuing to be the main focus.

Twenty four new ETFs launched in the past two months were added to the analysis.

Fourteen of them were from ETF Securities, which launched a mix of global, country and regional sector ETFs on Irish SE and NYSE Euronext Amsterdam.

European style ETFs, led by short and leveraged products, became the leading product area with a total turnover of EUR320m accounting for 30.5 per cent of total ETF turnover.

This was followed by European country ETFs with a total turnover of EUR314m accounting for 29.9 per cent of total turnover.

The DAX ETFs remain the dominant country products with a total average daily volume of EUR119m across the five listed products and accounting for 11 per cent of all equity ETF volume.

Euro STOXX 50 ETFs accounted for 17.4 per cent of turnover trading EUR183m per day with liquidity split across 12 ETFs and 35 different listings on nine exchanges.

The Deutsche Borse XTF platform continues to have the largest market share with 35.3 per cent of total turnover with leading market share in all ETFs categories.

The Euronext NextTrack platform has 25.4 per cent market share.

The LSE’s combined Italian Exchange and London market share is now 19.3 per cent.

Total European equity related assets under management rose to EUR64.9bn.

Assets under management for DJ Euro STOXX 50 ETFs were EUR14.2bn accounting for 22 per cent of total European assets under management.

Fixed income ETF assets under management stayed around EUR27.2bn.

The largest equity based ETF by assets under management was the Lyxor ETF DJ Euro STOXX 50 ETF with assets under management of EUR5.3bn.

On the fixed income side, the largest ETF by assets under management was the db x-trackers II EONIA TR Index ETF with assets under management of EUR4.4bn.

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