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US ETF turnover down 3.8 per cent

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US exchange-traded fund turnover declined by 3.8 per cent to USD66.4bn in the week to 15 June, according to Deutsche Bank researchers Shan Lan and Aram Flores.

US exchange-traded fund turnover declined by 3.8 per cent to USD66.4bn in the week to 15 June, according to Deutsche Bank researchers Shan Lan and Aram Flores.

Turnover in the S&P 500 SPDR was USD22.7bn. The PowerShares QQQ Nasdaq 100 had turnover of USD4.2bn followed by the iShares Russell 2000 with turnover of USD2.7bn.

There was one new ETF launched. Index IQ Advisors listed another hedge fund strategy based ETF listed at NYSE Arca.

Average daily turnover in the large cap, US sector, leveraged and short products was USD28.9bn (-2.2 per cent), USD10.0bn (-4.7 per cent), USD8.1bn (-8.8 per cent) and USD6.8bn (-8.1 per cent) respectively.

Among the emerging country ETFs, iShares MSCI Brazil ETF turnover was USD1,239m followed by the iShares FTSE/Xinhua China ETF with turnover of USD900m.

In non-US developed market flows, iShares MSCI Japan had turnover of USD222m. 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 declined by one per cent to USD467.4bn.

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