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US ETF turnover rises by 9.1 per cent

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US exchange-traded fund turnover rose by 9.1 per cent to USD66.7bn in the week ending 2 November, according to a report from Deutsche Bank.

Turnover in the S&P 500 SPDR was USD21.6bn. The PowerShares QQQ Nasdaq 100 had turnover of USD4.4bn followed by the iShares MSCI Emerging Markets with turnover of USD3.4bn.

There were six new ETFs launched during the week. Alps Fund Services and IndexIQ Advisors each launched two new ETFs while UBS Securities and Ook Advisors each launched one new ETF. All these ETFs are listed on NYSE Arca.

Average daily turnover in the large cap, US sector, leveraged and global regional products was USD27.9bn (6.3 per cent), USD10.1bn (8.6 per cent), USD9.3bn (10.9 per cent) and USD5.1bn (14.6 per cent) respectively.

Among the emerging country ETFs, iShares MSCI Brazil ETF turnover was USD1,601m followed by iShares FTSE/Xinhua China ETF with turnover of USD932m.

In non-US developed market flows, iShares MSCI Japan had turnover of USD253m.

In non-domestic regional flows, emerging market turnover was USD3.8bn and developed markets regional flows EAFE had turnover of USD1.1bn.

Total assets under management for equity based ETFs declined by 3.8 per cent to USD538.8bn.

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