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US ETF turnover down three per cent


US exchange-traded fund turnover declined by three per cent to USD68.3bn in the week ending 23 November, according to Deutsche Bank researchers Shan Lan and Aram Flores.

Turnover in the S&P 500 SPDR was USD21.5bn. The PowerShares QQQ Nasdaq 100 had turnover of USD4.5bn followed by the iShares Russell 2000 with turnover of USD4.0bn.

There were six new ETFs launched during the week. Barclays Global Investors launched one new ETF on NYSE Arca and one on Nasdaq Stock Exchange. Index IQ, First Trust Ad, United States Commodity Funds and PowerShares each launched one new ETF on NYSE Arca.

Average daily turnover in the large cap, US sector, leveraged and global regional products was USD28.0bn (-3.5 per cent), USD10.2bn (-3.6 per cent), USD9.9bn (-2.2 per cent) and USD5.3bn (-0.9 per cent) respectively.

Among the emerging country ETFs, iShares MSCI Brazil ETF turnover was USD1,421m followed by iShares FTSE/Xinhua China ETF with turnover of USD971m.

In non-US developed market flows, iShares MSCI Japan had turnover of USD256m.

In non-domestic regional flows, emerging market turnover was USD4.0bn and developed markets regional flows EAFE had turnover of USD1.1bn.

Total assets under management for equity based ETFs declined by 1.3 per to USD576.9bn.

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