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US ETF turnover rises by 4.5 per cent

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US exchange-traded fund turnover rose by 4.5 per cent to USD44.7bn in the week to 18 January, according to a report from Deutsche Bank.

Turnover in the S&P 500 SPDR was USD14.0bn. The PowerShares QQQ Nasdaq 100 had turnover of USD3.6bn followed by iShares Russell 2000 with turnover of USD3.1bn.

There were three new ETFs launched in the last week. Charles Schwab launched two ETFs followed by Global X which launched one new emerging country ETF. All the listings were on NYSE Arca.

Average daily turnover in the large cap, US sector, leveraged and global regional products was USD18.9bn (5.8 per cent), USD7.6bn (5.1 per cent), USD4.6bn (4.1 per cent) and USD3.6bn (-0.2 per cent) respectively.

Among the emerging country ETFs, iShares MSCI Brazil ETF turnover was USD948m followed by iShares FTSE/Xinhua China ETF with turnover of USD791m.

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

In non-domestic regional flows, emerging market turnover was USD2.6bn and developed markets regional flows EAFE had turnover of USD0.9bn.

Total assets under management for equity based ETFs declined by 1.9 per cent to USD609.9bn.

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