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US ETF turnover jumps 23.3 per cent


US exchange-traded funds turnover rose by 23.3 per cent to USD66bn in the week to 1 February, according to Deutsche Bank.

Turnover in the S&P 500 SPDR was USD21.7bn. The PowerShares QQQ Nasdaq 100 had turnover of USD5.7bn followed by iShares Russell 2000 with turnover of USD3.9bn.

There were three new ETFs launched during the week. Grail Advisors launched two new active bond ETFs, while UBS launched one new equity gold hedged ETF. All the listings were on NYSE Arca.

Average daily turnover in the large cap, US sector, leveraged and global regional products was USD29.3bn (24.8 per cent), USD10.8bn (21.6 per cent), USD7.3bn (25.7 per cent) and USD4.9bn (21.9 per cent) respectively.

Among the emerging country ETFs, iShares MSCI Brazil ETF turnover was USD1,306m followed by iShares FTSE/Xinhua China ETF with turnover of USD1,197m.

In non-US developed market flows, iShares MSCI Japan had turnover of USD311m.

In non-domestic regional flows, emerging market turnover was USD3.5bn and developed markets regional flows EAFE had turnover of USD1.1bn.

Total assets under management for equity based ETFs declined by two per cent to USD569.9bn.

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