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US ETF turnover down by 3.6 per cent

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US exchange-traded fund turnover declined by 3.6 per cent to USD55.6bn in the week to 14 September, according to Deutsche Bank researchers Shan Lan and Aram Flores.

US exchange-traded fund turnover declined by 3.6 per cent to USD55.6bn in the week to 14 September, according to Deutsche Bank researchers Shan Lan and Aram Flores.

Turnover in the S&P 500 SPDR was USD18.7bn. The PowerShares QQQ Nasdaq 100 had turnover of USD4.0bn followed by the Direxionshares Financial Bull 3X Shares with turnover of USD2.5bn.

There were two new ETFs launched in the previous week. ETF Securities launched one commodity based ETF and Pimco launched one fixed income ETF. Both ETFs are listed on NYSE Arca.

In the previous week, average daily turnover in the large cap, US sector, leveraged and short products was USD24.3bn (-3.1 per cent), USD7.9bn (-3.3 per cent), USD8.3bn (-5.8 per cent), and USD3.8bn (-5.7 per cent) respectively.

Among the emerging country ETFs, iShares FTSE/Xinhua China ETF turnover was USD928m followed by the iShares MSCI Brazil ETF with turnover of USD825m. In non-US developed market flows, iShares MSCI Japan had turnover of USD231m. 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 3.9 per cent to USD537.2bn.

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