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European equity ETF turnover down 2.4 per cent


Exchange-based equity exchange-traded fund turnover declined by 2.4 per cent in the week to 30 March, according to research from Deutsche Bank.

Exchange-based equity exchange-traded fund turnover declined by 2.4 per cent in the week to 30 March, according to research from Deutsche Bank.

Researchers Aram Flores and Shan Lan found that daily turnover was EUR1.1bn. European fixed income ETF turnover decreased by 6.9 per cent to EUR190m, 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 EUR34.2m. Among the equity ETFs, iShares Dax has the highest daily turnover of EUR63.4m.

There were six new ETFs launched. ETFlab launched six new fixed income based ETFs covering different ranges of maturity which are listed at Deutsche Borse.

European style ETFs, led by short and leveraged products, kept its position as the leading product area with total turnover of EUR403m accounting for 36.5 per cent of total ETF turnover, followed by European regional ETFs with total turnover of EUR281m with 25.5 per cent of total turnover.

The Dax ETFs remain the dominant country products with total average daily volume of EUR104m across the five listed products and accounting for 9.5 per cent of all equity ETF volume.

Euro Stoxx 50 ETFs accounted for 14.1 per cent of turnover trading EUR155m 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 33.4 per cent of total turnover. The Euronext NextTrack platform has 23.8 per cent market share. The London Stock Exchange’s combined Italian Exchange and London market share is now 24.8 per cent.

Total European equity-related AUM decreased by 3.2 per cent to EUR64.5bn. AUM for DJ Euro Stoxx 50 ETFs was EUR12.7bn accounting for 19 per cent of total European AUM. Fixed income ETF AUM remained around the same level at EUR33.15bn.

Overall, the largest ETF by AUM was the money market based db x-trackers II Eonia TR Index ETF with AUM of EUR6.5bn. 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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