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US ETF turnover down 2.9 per cent


US exchange-traded fund turnover declined 2.9 per cent to USD73.7bn in the week to 27 April, according to Deutsche Bank.

US exchange-traded fund turnover declined 2.9 per cent to USD73.7bn in the week to 27 April, according to Deutsche Bank.

Turnover in the S&P 500 SPDR was USD25.4bn. The PowerShares QQQ Nasdaq 100 had turnover of USD4.7bn followed by the UltraShort S&P500 ProShares with turnover of USD3.3bn.

Average daily turnover has declined almost 15 per cent in April, driven by a decrease in the turnover of short-related and large cap-related products. Short-related products fell to the fourth place behind large cap, US sector and leveraged ETFs.

Among the emerging country ETFs, iShares FTSE/Xinhua China ETF turnover was USD845m followed by the iShares MSCI Brazil ETF with turnover of USD795m.

In non-US developed market flows, iShares MSCI Japan had turnover of USD282m. In non-domestic regional flows, emerging market turnover was USD2.0bn and developed markets regional flows EAFE had turnover of USD1.3bn.

Total assets under management for equity based ETFs rose 4.3 per cent to USD407bn.

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