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US ETF turnover climbs to USD65.7bn


US exchange-traded fund turnover declined by 3.8 per cent to USD65.7bn in the week ending 30 November, research by Deutsche Bank shows.

Turnover in the S&P 500 SPDR was USD20.3bn. The PowerShares QQQ Nasdaq 100 had turnover of USD4.2bn followed by the iShares Russell 2000 with turnover of USD4.0bn.

There were eight new ETFs launched during the week. Van Eck Funds launched one new ETF on NYSE Arca and Vanguard launched seven new fixed income ETFs on Nasdaq.

Average daily turnover in the large cap, US sector, leveraged and global regional products was USD26.5bn (-5.2 per cent), USD9.8bn (-4.0 per cent), USD9.6bn (-3.6 per cent) and USD5.4bn (1.5 per cent) respectively.

Among the emerging country ETFs, iShares MSCI Brazil ETF turnover was USD1,380m followed by iShares FTSE/Xinhua China ETF with turnover of USD1,007m.

In non-US developed market flows, iShares MSCI Japan had turnover of USD275m.

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

Total assets under management for equity based ETFs remained at about the same level at USD572.4bn.

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