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US ETF turnover stays level at USD57.6bn

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US exchange-traded fund turnover remained at about the same level at USD57.6bn in the week ending 7 September, according to research from Deutsche Bank.

US exchange-traded fund turnover remained at about the same level at USD57.6bn in the week ending 7 September, according to research from Deutsche Bank.

Turnover in the S&P 500 SPDR was USD19.3bn. The PowerShares QQQ Nasdaq 100 had turnover of USD4.2bn followed by the Direxionshares Financial Bull 3X Shares with turnover of USD2.7bn.

There were two new ETFs launched during the week. Pimco launched two fixed income ETF on NYSE Arca: the Pimco 15+ Year US TIPS Index Fund and the Pimco Broad US TIPS Index Fund.
 
Average daily turnover in the large cap, US sector, leveraged and short products was USD25.1bn (0.5 per cent), USD8.8bn (-0.6 per cent), USD8.2bn (-2.4 per cent) and USD4.1bn (0.2 per cent) respectively.

Among the emerging country ETFs, iShares FTSE/Xinhua China ETF turnover was USD1,018m followed by the iShares MSCI Brazil ETF with turnover of USD834m.

In non-US developed market flows, iShares MSCI Japan had turnover of USD216m.

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 declined by 1.1 per cent to USD516.9bn.

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