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European equity ETF turnover up by four per cent


Exchange-based equity exchange-traded fund turnover rose by four per cent to EUR1.2bn in the week to 27 April, according to research from Deutsche Bank.

Exchange-based equity exchange-traded fund turnover rose by four per cent to EUR1.2bn in the week to 27 April, according to research from Deutsche Bank.

European fixed income ETF turnover declined by 4.7 per cent to EUR179m, 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 EUR32.3m. Among the equity ETFs, iShares Dax has the highest daily turnover of EUR65.5m.

There were 48 new listings in the previous week. A new issuer named Source, joint venture of Bank of America Merrill Lynch, Goldman Sachs and Morgan Stanley, entered the European exchange-traded products market listing 13 new ETFs and 22 new ETCs, all of them listed at Deutsche Borse. iShares launched seven new funds with 13 listings at the London Stock Exchange.

European-style ETFs, led by short and leveraged products, kept its position as the leading product area with total turnover of EUR409m accounting for 34.7 per cent of total ETF turnover, followed by European regional ETFs with total turnover of EUR322m with 27.3 per cent of total turnover.

The Dax ETFs remain the dominant country products with total average daily volume of EUR107m across the five listed products and accounting for 8.4 per cent of all equity ETF volume.

Euro Stoxx 50 ETFs accounted for 13.8 per cent of turnover trading EUR162m per day with liquidity split across 13 ETFs and 36 different listings on nine 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 25.9 per cent.

Total European equity-related AUM rose by 5.2 per cent to EUR75.41bn. AUM for DJ Euro Stoxx 50 ETFs was EUR14.5bn accounting for 19.3 per cent of total European AUM. Fixed Income ETF AUM remained around the same level at EUR32.9bn. Overall, the largest ETF by AUM was the money market based db x-trackers II Eonia TR Index ETF with AUM of EUR5.7bn. 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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