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US ETF turnover down 1.7 per cent


US exchange-traded fund turnover declined by 1.7 per cent to USD65.2bn in the week to 22 June, according to ETF Securities.

US exchange-traded fund turnover declined by 1.7 per cent to USD65.2bn in the week to 22 June, according to ETF Securities.

Turnover in the S&P 500 SPDR was USD22.1bn. The PowerShares QQQ Nasdaq 100 had turnover of USD4.2bn followed by the iShares Russell 2000 with turnover of USD2.7bn.

There were five new ETFs launched. iShares launched one sector fund and ProShares launched four new country and regional leveraged products. The iShares ETF is listed at Nasdaq and the ProShares ETFs are listed at NYSE Arca.

Average daily turnover in the large cap, US sector, leveraged and short products was USD28.4bn (-1.8 per cent), USD9.9bn (-1.0 per cent), USD7.7bn (-4.7 per cent) and USD6.5bn (-3.8 per cent) respectively.

Among the emerging country ETFs, iShares MSCI Brazil ETF turnover was USD1,257m followed by the iShares FTSE/Xinhua China ETF with turnover of USD901m.

In non-US developed market flows, iShares MSCI Japan had turnover of USD236m. In non-domestic regional flows, emerging market turnover was USD2.6bn and developed markets regional flows EAFE had turnover of USD1.0bn.

Total assets under management for equity based ETFs declined by 4.6 per cent to USD445.9bn.

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