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European equity ETF turnover drops by 9.1 per cent

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European exchange-based equity ETF turnover declined by 9.1 per cent to EUR1.1bn in the week to 15 June, research has found.

European exchange-based equity ETF turnover declined by 9.1 per cent to EUR1.1bn in the week to 15 June, research has found.

The study by Deutsche Bank also reveals that European fixed income ETF turnover declined by 2.4 per cent to EUR168.7m, with money market ETFs continuing to be the main focus.

In exchange based bond ETFs, db x-trackers II Eonia TR Index ETF has the highest daily turnover of EUR28.2m. Among the equity ETFs, iShares Dax (DE) has the highest daily turnover of EUR54.3m.

European style ETFs, led by short and leveraged products, kept its position as the leading product area with total turnover of EUR312m accounting for 29.6 per cent of total ETF turnover, followed by European regional ETFs with total turnover of EUR300m with 28.4 per cent of total turnover. The Dax ETFs remain the dominant country products with total average daily volume of EUR99m across the five listed products and accounting for 9.4 per cent of all equity ETF volume.

Euro Stoxx 50 ETFs accounted for 15.8 per cent of turnover trading EUR167m 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 31.8 per cent of total turnover. The Euronext NextTrack platform has 24.0 per cent market share. The LSE’s combined Italian Exchange and London market share is now 23.1 per cent.

Total European equity related AUM remained at about the same level at EUR80.9bn. AUM for DJ Euro Stoxx 50 ETFs was EUR15.8bn accounting for 19.5 per cent of total European AUM. Fixed income ETF AUM remained at about the same level at EUR32.6bn.

Overall, the largest ETF by AUM was the money market based db x-trackers II Eonia TR Index ETF with AUM of EUR4.9bn. The largest equity based ETF by AUM was Lyxor ETF DJ Euro Stoxx 50 with AUM of EUR4.6bn.

There was one new listing in the week to 15 June: ETF Securities cross-listed one gold sector ETF on Deutsche Borse.

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