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Exchange-based equity ETF turnover rises 2.3 per cent


Exchange-based equity exchange-traded fund turnover rose by 2.3 per cent to EUR1.1bn in the week to 20 April, according to a report from Deutsche Bank.

Exchange-based equity exchange-traded fund turnover rose by 2.3 per cent to EUR1.1bn in the week to 20 April, according to a report from Deutsche Bank.

European fixed income ETF turnover declined by 1.5 per cent to EUR188m, with money market ETFs continuing to be the main focus.

In exchange-based bond ETFs, Lyxor ETF Euro Cash EuroMTS Eonia has the highest daily turnover of EUR33.5m. Among the equity ETFs, iShares Dax has the highest daily turnover of EUR59.7m.

There were six new ETF listings in the previous week. ETFlab launched a fund, linked to the new Dax Plus Maximum Dividend Index, at Deutsche Borse. Lyxor cross listed five existing funds, mainly fixed income based, at the Swiss Stock Exchange.

European-style ETFs, led by short and leveraged products, kept its position as the leading product area with total turnover of EUR390m accounting for 34.4 per cent of total ETF turnover, followed by European regional ETFs with total turnover of EUR312m with 27.5 per cent of total turnover.

The Dax ETFs remain the dominant country products with total average daily volume of EUR96m across the five listed products and accounting for 8.4 per cent of all equity ETF volume.

Euro Stoxx 50 ETFs accounted for 13.5 per cent of turnover trading EUR153m per day with liquidity split across 12 ETFs and 35 different listings on 9 exchanges.

The Deutsche Borse XTF platform has the largest market share with 32.7 per cent of total turnover. The Euronext NextTrack platform has 20.5 per cent market share. The LSE’s combined Italian Exchange and London market share is now 24.9 per cent.

Total European equity-related AUM rose by 2.1 per cent to EUR71.69bn. AUM for DJ Euro Stoxx 50 ETFs was EUR14bn accounting for 20 per cent of total European AUM.

Fixed income ETF AUM remained around the same level at EUR33.1bn.

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 EUR4.6bn.

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