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US ETF turnover down 2.7 per cent to USD63.5bn

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US exchange-traded fund turnover declined by 2.7 per cent to USD63.5bn in the week to 29 June, according to Deutsche Bank researchers Shan Lan and Aram Flores.

US exchange-traded fund turnover declined by 2.7 per cent to USD63.5bn in the week to 29 June, according to Deutsche Bank researchers Shan Lan and Aram Flores.

Turnover in the S&P 500 SPDR was USD21.5bn. The PowerShares QQQ Nasdaq 100 had turnover of USD4.2bn followed by the iShares Russell 2000 with turnover of USD2.6bn.

There were three new ETFs launched. iShares launched one fund and ProShares launched two leveraged products. All ETFs are listed at NYSE Arca.

Average daily turnover in the large cap, US sector, leveraged and short products was USD27.6bn (-2.8 per cent), USD9.6bn (-3.0 per cent), USD7.4bn (-4.1 per cent) and USD6.3bn (-3.3 per cent) respectively.

Among the emerging country ETFs, iShares MSCI Brazil ETF turnover was USD1,207m followed by the iShares FTSE/Xinhua China ETF with turnover of USD904m.

In non-US developed market flows, iShares MSCI Japan had turnover of USD235m. 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 rose by 4.3 per cent to USD465.2bn.

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