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US ETF turnover down 2.3 per cent


US exchange-traded fund turnover declined by 2.3 per cent to USD57.2bn in the week to 20 July, according to Deutsche Bank research.

US exchange-traded fund turnover declined by 2.3 per cent to USD57.2bn in the week to 20 July, according to Deutsche Bank research.

Turnover in the S&P 500 SPDR was USD18.2bn. The PowerShares QQQ Nasdaq 100 had turnover of USD4.1bn followed by the iShares Russell 2000 with turnover of USD2.3bn.

There were three new ETFs launched during the week. Direxion launched two new funds, the Direxion Daily Real Estate Bull 3x Shares and the Direxion Daily Real Estate Bear 3x Shares, and Proshares launched one new fund, the ProShares Credit Suisse 130/30. All three are listed at NYSE Arca.

Average daily turnover in the large cap, US sector, leveraged and short products was USD24.1bn (-2.5 per cent), USD8.5bn (-3.4 per cent), USD7.3bn (2.8 per cent) and USD6.1bn (-4.3 per cent) respectively.

Among the emerging country ETFs, iShares MSCI Brazil ETF turnover was USD1,033m followed by the iShares FTSE/Xinhua China ETF with turnover of USD873m.

In non-US developed market flows, iShares MSCI Japan had turnover of USD236m.

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 rose by 6.3 per cent to USD474.2bn.

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