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European equity ETF turnover up by 1.6 per cent


European exchange based equity ETF turnover rose by 1.6 per cent to EUR1.1bn during the week ending 21 September, according to Deutsche Bank.

European fixed income ETF turnover declined by 2.4 per cent to EUR181.2m, 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 EUR21.84m. Among the equity ETFs, iShares Dax (DE) has the highest daily turnover of EUR66.22m.

There were eight new listings during the week. db x-trackers launched four new ETFs on Deutsche Borse and four ETFs on London Stock Exchange, covering basic resources, industrial goods, utilities and insurance.

European style ETFs, led by short and leveraged products, kept its position as the leading product area with total turnover of EUR349m accounting for 30.96 per cent of total ETF turnover, followed by European regional ETFs with total turnover of EUR304m with 26.97 per cent of total turnover. The Dax ETFs remain the dominant country products with total average daily volume of EUR141m across the nine listed products and accounting for 12.5 per cent of all equity ETF volume.

DJ Euro Stoxx 50 ETFs accounted for 13.4 per cent of turnover trading EUR151m per day with liquidity split across 25 ETFs and 41 different listings on nine exchanges.

The Deutsche Borse XTF platform has the largest market share with 35.6 per cent of total turnover. The Euronext NextTrack platform has 22.2 per cent market share. The LSE’s combined Italian Exchange and London market share is now 24.9 per cent.

Total European equity related AUM rose by 2.5 per cent to EUR98.8bn. AUM for DJ Euro Stoxx 50 ETFs was EUR19.8bn accounting for 20.0 per cent of total European AUM. Fixed income ETF AUM remained at about the same level at EUR32.7bn.

Overall, the largest ETF by AUM was the equity based Lyxor ETF DJ Euro Stoxx 50 with AUM of EUR5.0bn. The largest fixed income ETF by AUM was the iShares EUR Corporate Bond with AUM of EUR3.1bn.

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