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European equity ETF turnover up 3.2 per cent

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European exchange-based equity ETF turnover rose by 3.2 per cent to EUR1.1bn during the week ending 29 June, Deutsche Bank research has found.

European exchange-based equity ETF turnover rose by 3.2 per cent to EUR1.1bn during the week ending 29 June, Deutsche Bank research has found.

European fixed income ETF turnover rose by 1.6 per cent to EUR201.4m, 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 EUR34.5m. Among the equity ETFs, iShares Dax (DE) has the highest daily turnover of EUR48.2m.

There were 13 new listings in week to 29 June. ETF Securities listed six new leveraged ETFs and also cross listed four of these new products in GBP at London Stock Exchange. Db x-trackers cross listed two ETFs and Lyxor cross listed one fund at Borsa Italiana. 

European-style ETFs, led by short and leveraged products, kept its position as the leading product area with total turnover of EUR325m accounting for 30 per cent of total ETF turnover, followed by European regional ETFs with total turnover of EUR320m with 29.5 per cent of total turnover.

The Dax ETFs remain the dominant country products with total average daily volume of EUR96m across the five listed products and accounting for 8.8 per cent of all equity ETF volume.

Euro Stoxx 50 ETFs accounted for 15.8 per cent of turnover trading EUR171m 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 31.7 per cent of total turnover. The Euronext NextTrack platform has 23.5 per cent market share. The LSE’s combined Italian Exchange and London market share is now 24.8 per cent.

Total European equity related assets under management rose by 3.1 per cent to EUR80.5bn. AUM for DJ Euro Stoxx 50 ETFs was EUR15.7bn 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 EUR4.8bn. The largest equity based ETF by AUM was Lyxor ETF DJ Euro Stoxx 50 with AUM of EUR4.6bn.

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