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Turnover of US sector ETFs up three per cent

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Average daily turnover in the US large cap, US sector, leveraged and short exchange-traded funds was USD24.9bn (0.8 per cent), USD8.9bn (3.0 per cent), USD8.4bn (-0.2 per cent) and USD4

Average daily turnover in the US large cap, US sector, leveraged and short exchange-traded funds was USD24.9bn (0.8 per cent), USD8.9bn (3.0 per cent), USD8.4bn (-0.2 per cent) and USD4.0bn (-4.8 per cent) respectively during the week ending 31 August, according to research by Deutsche Bank.

Overall US ETF turnover remained at about the same level at USD57.8bn. Turnover in the S&P 500 SPDR was USD19.1bn. The PowerShares QQQ Nasdaq 100 had turnover of USD4.2bn followed by the Direxionshares Financial Bull 3X Shares with turnover of USD2.6bn.

There was one new ETF launched during the week: Pimco launched one new fixed income ETF on NYSE Arca.

Among the emerging country ETFs, iShares FTSE/Xinhua China ETF turnover was USD972m followed by the iShares MSCI Brazil ETF with turnover of USD892m.

In non-US developed market flows, iShares MSCI Japan had turnover of USD213m.

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 remained at about the same level at USD522.6bn.

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