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US ETF turnover down 3.7 per cent

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US exchange-traded fund turnover declined by 3.7 per cent to USD69bn in the week to 8 June, according to Deutsche Bank researchers Shan Lan and Aram Flores.

US exchange-traded fund turnover declined by 3.7 per cent to USD69bn in the week to 8 June, according to Deutsche Bank researchers Shan Lan and Aram Flores.

Turnover in the S&P 500 SPDR was USD23.1bn. The PowerShares QQQ Nasdaq 100 had turnover of USD4.4bn followed by the iShares Russell 2000 with turnover of USD2.7bn.

There were five new ETFs launched. Pimco launched their first bond ETF and ProShares launched four new leverage funds with country and regional focus.

Average daily turnover in the large cap, US sector, leveraged and short products was USD29.6bn (-2.9 per cent), USD10.5bn (-3.5 per cent), USD8.9bn (-6.7 per cent) and USD7.4bn (-6.1 per cent) respectively.

Among the emerging country ETFs, iShares MSCI Brazil ETF turnover was USD1,208m followed by the iShares FTSE/Xinhua China ETF with turnover of USD893m.

In non-US developed market flows, iShares MSCI Japan had turnover of USD232m. In non-domestic regional flows, emerging market turnover was USD2.5bn and developed markets regional flows EAFE had turnover of USD0.9bn.

Total assets under management for equity based ETFs remained at about the same level at USD472.2bn.

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