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European equity ETF turnover up 19.9 per cent


European exchange based equity ETF turnover rose by 19.9 per cent to EUR1.7bn during the week to 15 February, research by Deutsche Bank has found.

European fixed income ETF turnover rose by 1.9 per cent to EUR269.7m.

In exchange based bond ETFs, db x-trackers US Dollar Money Market ETF has the highest daily turnover of EUR30.95m. Among the equity ETFs, iShares Dax (DE) has the highest daily turnover of EUR85.99m.

There was one new listing during the week: Osmosis Fund issued one ETF on the London Stock Exchange.

Style ETFs rose to the top position as leading product area with total turnover of EUR488m with 29.20 per cent of total ETF turnover, followed by European regional ETFs with total turnover of EUR482m accounting for 28.87 per cent of total ETF turnover.

The Dax ETFs remain the dominant country products with total average daily volume of EUR193m across the 14 listed products and accounting for 11.6 per cent of all equity ETF volume.

DJ Euro Stoxx 50 ETFs accounted for 15.6 per cent of turnover trading E261m per day with liquidity split across 17 ETFs and 44 different listings on nine exchanges.

The Deutsche Borse XTF platform has the largest market share with 37.1 per cent of total turnover. The Euronext NextTrack platform has 19.0 per cent market share. The LSE’s combined Italian Exchange and London market share is now 20.8 per cent.

Total European equity related assets under management remained at about the same level at EUR110.7bn. AUM for DJ Euro Stoxx 50 ETFs was EUR20.8bn accounting for 18.8 per cent of total European AUM. Fixed income ETF AUM remained at about the same level at EUR36.6bn.

Overall, the largest ETF by AUM was Lyxor ETF DJ Euro Stoxx 50, an equity based ETF, with AUM of EUR5.0bn. The largest fixed income ETF by AUM was the iShares EUR Corporate Bond with AUM of EUR3.2bn.

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