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European equity ETF turnover down 1.4 per cent

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European exchange-based equity ETF turnover declined by 1.4 per cent to EUR1.0bn in the week to 20 July, according to Deutsche Bank researchers Shan Lan and Aram Flores.

European exchange-based equity ETF turnover declined by 1.4 per cent to EUR1.0bn in the week to 20 July, according to Deutsche Bank researchers Shan Lan and Aram Flores.

European fixed income ETF turnover declined by 11.4 per cent to EUR186.6m, 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 EUR35.8m. Among the equity ETFs, iShares Dax (DE) has the highest daily turnover of EUR55.9m.

There were six new listings during the week. db x-trackers launched three new ETFs and two new listings. The new ETFs launched comprise an ETF focusing on carbon efficient US companies and an ETF offering exposure to Eurozone inflation, both listed at Deutsche Borse, and a hedge fund based ETF listed at London Stock Exchange. db x-trackers also had two new lisings at LSE. Lyxor launched one ETF listed at Bolsa de Madrid.

European-style ETFs, led by short and leveraged products, kept its position as the leading product area with total turnover of EUR309m accounting for 30.3 per cent of total ETF turnover, followed by European regional ETFs with total turnover of EUR292m with 28.6 per cent of total turnover. The Dax ETFs remain the dominant country products with total average daily volume of EUR117m across the five listed products and accounting for 11.5 per cent of all equity ETF volume.

Euro Stoxx 50 ETFs accounted for 16.5 per cent of turnover trading EUR168m 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 36.1 per cent of total turnover. The Euronext NextTrack platform has 25.1 per cent market share. The LSE’s combined Italian Exchange and London market share is now 23.5 per cent.

Total European equity-related assets under management rose by 5.5 per cent to EUR82.7bn. AUM for DJ Euro Stoxx 50 ETFs was EUR15.7bn accounting for 19.0 per cent of total European AUM. Fixed income ETF AUM rose by one per cent to EUR32.6bn.

Overall, the largest ETF by AUM was the equity based Lyxor ETF DJ Euro Stoxx 50 with AUM of EUR4.5bn. The largest fixed income ETF by AUM was db x-trackers II Eonia TR Index ETF with AUM of EUR4.0bn.

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