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European ETF turnover slips in early February, says Deutsche


Exchanged based equity ETF turnover declined 8.5 per cent in the week ending 13 February, according to Deutsche.

Exchanged based equity ETF turnover declined 8.5 per cent in the week ending 13 February, according to Deutsche.

Daily turnover for the previous week was EUR880m.

European fixed income ETF turnover declined 8.3 per cent on the same period. Daily turnover for the previous week was EUR188m, with money market ETFs continuing to be the main focus.

In exchange based bond ETFs, Db x-trackers II Eonia TR Index ETF has the highest daily turnover of EUR44.4m.

Among the equity ETFs, Xact Bear ETF has the highest daily turnover of EUR48.81m.

There were three new ETFs issued and two new cross listings on the previous week. db x-trackers issued two new ETFs on the Asia Pacific ex Japan region, one ETF on the DJ Stoxx 600 index and cross listed the first couple of products on the CAC index outside France.

European style ETFs, led by short and leveraged products, kept its position as the leading product area with total turnover of EUR303m accounting for 34 per cent of total ETF turnover, followed by European regional ETFs with total turnover of EUR246m with 28 per cent of total turnover.

The DAX ETFs remain the dominant country products with total average daily volume of EUR85m across the five listed products and accounting for 9.7 per cent of all equity ETF volume.

Euro Stoxx 50 ETFs accounted for 15.8 per cent of turnover trading EUR139m per day with liquidity split across 12 ETFs and 35 different listings on nine exchanges.

The Deutsche Borse XTF platform has the largest market share with 28.1 per cent of total turnover. The Euronext NextTrack platform has 25.5 per cent market share. The LSE’s combined Italian Exchange and London market share is now 24.5 per cent.

Total European equity related AUM declined 4.4 per cent to EUR71.05bn during last week. AUM for DJ Euro Stoxx 50 ETFs was EUR14.4bn accounting for 20 per cent of total European AUM.

Fixed income ETF AUM declined three per cent to EUR32.6bn.

Overall, the largest ETF by AUM was the money market based db x-trackers II Eonia TR Index ETF with AUM of EUR6.4bn.

The largest equity based ETF by AUM was the Lyxor ETF DJ Euro Stoxx 50 ETF with AUM of EUR4.8bn.

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