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S&P 500 ETFs lead US equity ETF turnover, says Deutsche report

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US ETF turnover rose 9.7 per cent on the previous week, while the monthly average daily turnover was USD80bn, according to the latest weekly report on the US ETF market by Deutsche Bank

US ETF turnover rose 9.7 per cent on the previous week, while the monthly average daily turnover was USD80bn, according to the latest weekly report on the US ETF market by Deutsche Bank researchers Aram Flores and Shan Lan.

Turnover in the S&P 500 SPDR was USD29.3bn. The UltraShort Financials ProShares had turnover of USD4.3bn followed by the PowerShares QQQ Nasdaq 100 with turnover of USD4.1bn.

Four new ETFs and two new ETNs were launched on the previous week. BGI and State Street both issued a couple of very similar fixed income based products. BGI’s new ETFs are listed on Nasdaq and State Street’s new ETFs are listed on NYSE Arca. The two new ETNs were launched by BGI and they are listed on NYSE Arca.

Short-related ETF turnover rose 13 per cent to USD12.4bn, being the second largest category of ETFs after large cap ETFs.

Among the emerging country ETFs, turnover in the iShares FTSE/Xinhua China ETF was USD982m followed by the iShares MSCI Brazil ETF with turnover of USD685m.

In developed market flows, iShares MSCI Japan had turnover of USD267m.

In non-domestic regional flows emerging market turnover was USD1.99bn, while in developed markets regional flows EAFE had a turnover of USD1.41bn.

Total assets under management for equity based ETFs broadly maintained a similar level. AUM was USD398bn on the previous week.

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