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European ETF turnover rises 3.6 per cent

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Exchange based equity exchange-traded fund turnover rose 3.6 per cent in the week to 16 March, according to Deutsche Bank.

Exchange based equity exchange-traded fund turnover rose 3.6 per cent in the week to 16 March, according to Deutsche Bank.

Daily turnover for the previous week was EUR1.01bn. European fixed income ETF turnover remained stable at EUR197m, 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 EUR34.6m. Among the Equity ETFs, iShares DAX has the highest daily turnover of EUR60.5m.

Thirteen new ETFs were launched in the previous week. ETFlab launched six of these funds listed on Deutsche Borse, while iShares launched five and db x-trackers launched two new funds listed on London Stock Exchange and Deutsche Borse respectively.

db x-trackers launched the first ETF offering exposure to the hedge fund industry.

European style ETFs, led by short and leveraged products, kept its position as the leading product area with total turnover of EUR372m accounting for 37 per cent of total ETF turnover, followed by European regional ETFs with total turnover of EUR256m with 25 per cent of total turnover.

The Dax ETFs remain the dominant country products with total average daily volume of EUR98m across the five listed products and accounting for ten per cent of all equity ETF volume.

Euro Stoxx 50 ETFs accounted for 15.1 per cent of turnover trading EUR152m 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 33.1 per cent of total turnover. The Euronext NextTrack platform has 24.8 per cent market share. The LSE’s combined Italian Exchange and London market share is now 23.7 per cent.

Total European equity related AUM increased by 9.5 per cent to EUR64.8bn during the week ending 16 March. AUM for DJ Euro Stoxx 50 ETFs was EUR12.8bn accounting for 19.6 per cent of total European AUM. Fixed Income ETF AUM rose slightly to E33.01bn.

Overall, the largest ETF by AUM was the money market based db x-trackers II Eonia TR Index ETF with AUM of EUR6.6bn. The largest equity based ETF by AUM was the Lyxor ETF DJ Euro Stoxx 50 ETF with AUM of EUR4.3bn.

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