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US ETF turnover down 4.6 per cent


US exchange-traded fund turnover declined by 4.6 per cent to USD60.5bn in the week to 6 July, according to a report by Deutsche Bank.

US exchange-traded fund turnover declined by 4.6 per cent to USD60.5bn in the week to 6 July, according to a report by Deutsche Bank.

Turnover in the S&P 500 SPDR was USD20.5bn. The PowerShares QQQ Nasdaq 100 had turnover of USD4.1bn followed by the iShares Russell 2000 with turnover of USD2.5bn.

There were six new ETFs launched. MacroMarkets and ProShares launched two funds each and First Trust and Javelin Investment launched one fund each. All ETFs are listed at NYSE Arca except for the First Trust fund which was listed on Nasdaq.

In the previous week, average daily turnover in the large cap, US sector, leveraged and short products was USD26.6bn (-3.7 per cent), USD8.9bn (-7.4 per cent), USD7.0bn (-5.7 per cent) and USD6.2bn (-2.2 per cent) respectively.

Among the emerging country ETFs, iShares MSCI Brazil ETF turnover was USD1,098m followed by the iShares FTSE/Xinhua China ETF with turnover of USD860m. In non-US developed market flows, iShares MSCI Japan had turnover of USD230m.

In non-domestic regional flows, emerging market turnover was USD2.5bn and developed markets regional flows EAFE had turnover of USD1.0bn.

Total assets under management for equity based ETFs declined by 3.2 per cent to USD450.3bn.

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