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US ETF turnover up 1.8 per cent


US exchange-traded fund turnover rose by 1.8 per cent to USD68bn in the week to 9 November, according to Deutsche Bank.

Turnover in the S&P 500 SPDR was USD22.0bn. The PowerShares QQQ Nasdaq 100 had turnover of USD4.4bn followed by the iShares Russell 2000 with turnover of USD3.6bn.

There were seven new ETFs launched in the last week. Charles Schwab Investment launched four new ETFs, Pimco launched two new fixed income ETFs and Ook Advisors 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 USD28.3bn (1.4 per cent), USD10.3bn (1.5 per cent), USD9.6bn (3.2 per cent) and USD5.2bn (2.6 per cent) respectively.

Among the emerging country ETFs, iShares MSCI Brazil ETF turnover was USD1,580m followed by iShares FTSE/Xinhua China ETF with turnover of USD961m. In non-US developed market flows, iShares MSCI Japan had turnover of USD232m. In non-domestic regional flows, emerging market turnover was USD4.0bn and developed markets regional flows EAFE had turnover of USD1.0bn.

Total assets under management for equity based ETFs rose by six per cent to USD570.9bn.

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