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US ETF turnover down 8.4 per cent


US exchange-traded fund turnover declined by 8.4 per cent to USD60.2bn in the week ending 7 December, according to research by Deutsche Bank.


Turnover in the S&P 500 SPDR was USD18.6bn. The PowerShares QQQ Nasdaq 100 had turnover of USD3.9bn followed by the iShares Russell 2000 with turnover of USD3.7bn.

There were six new ETFs launched in the last week. Global X launched two new ETFs on NYSE Arca and Direxionshares launched four new leveraged ETFs on NYSE Arca.

Average daily turnover in the large cap, US sector, leveraged and global regional products was USD24.2bn (-8.7 per cent), USD9.5bn (-4.0 per cent), USD8.4bn (-11.8 per cent) and USD5.0bn (-7.7 per cent) respectively.

Among the emerging country ETFs, iShares MSCI Brazil ETF turnover was USD1,309m followed by iShares FTSE/Xinhua China ETF with turnover of USD919m.

In non-US developed market flows, iShares MSCI Japan had turnover of USD344m.

In non-domestic regional flows, emerging market turnover was USD3.8bn and developed markets regional flows EAFE had turnover of USD1.0bn.

Total assets under management for equity based ETFs rose by 2.5 per cent to USD586.9bn.

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