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Nine new listings for US ETF market

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There were nine new listings in the US exchange-traded fund market during the week ending 12 February, according to a report by Deutsche Bank.

ProShares listed eight equity ETFs offering +3X and -3X exposure on US indices while the remaining product, issued by Old Mutual Global Shares Trust, was a regional ETF offering global ex-US exposure.

Seven of the nine exchange-traded products are listed in NYSE Arca and two are listed in Nasdaq.

During the week USD1.44bn flowed into ETPs. Equity and fixed income ETPs had inflows of USD1.14bn and USD531m respectively, while commodity and currency ETPs had outflows of USD90m and USD130m respectively.

In the equity asset class, US sector ETPs had the highest inflows of USD1.5bn followed by small cap ETPs, while large cap ETPs experienced the largest outflows of USD914m, followed by regional ETPs tracking emerging markets. Strategy ETPs (short, leveraged, and leveraged short) continued to attract significant cash flows.

Sovereign and US sub-sovereign contributed the most to the positive cash flows into fixed income ETPs.

Within commodity ETPs, those tracking natural gas saw the largest outflows followed by those tracking the overall group of industrial metals. Meanwhile, broad commodity benchmark ETPs and crude oil ETPs experienced the largest inflows.

ETP turnover rose by 7.1 per cent during the week and totalled USD81bn. Equity ETP turnover experienced the largest increase.

Turnover has increased significantly in ETPs tracking the following benchmarks: large cap, leveraged/leveraged short strategy and regional/emerging markets. For fixed income ETPs, turnover in the sovereign space increased the most. Commodity ETP turnover decrease was mainly driven by natural gas, gold, silver, and agriculture.

US ETPs assets under management rose by 1.6 per cent totalling USD744bn at the end of the week. Equity ETPs had the lion’s share with USD550bn and 74 per cent of market share, followed by fixed income funds with USD115bn and 15 per cent of market share.

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