Last week’s market sell-off removed USD23bn or almost 2% from ETP assets, according to figures released by Deutsche Bank. ETP AUM shrank by 1.9% to USD1.17 trillion from the previous week’s level.
YTD growth remains at two-digits with 11.7%. Assets for equity, fixed income and commodity ETPs moved -USD23.9bn, +USD3.2bn, and -USD2.5bn during last week, respectively.
The total US ETP flows from all products registered USD1.6bn of outflows during last week vs USD7.3bn of inflows the previous week, setting the YTD weekly flows average at +USD3.0bn (+USD53.2bn YTD in total cash flows).
Equity, Fixed Income, and Commodity ETPs experienced flows of -USD4.2bn, +USD3.1bn, and -USD0.5bn last week vs. +USD5.7bn, +USD1.7bn, and -USD0.2bn the previous week, respectively.
Within Equity ETPs, Large Cap, Small Cap, and US sector products experienced the largest outflows (-USD2.6bn, -USD1.2bn, -USD0.9bn, respectively); while dividend vehicles experienced the largest inflows (+USD0.3bn). Within Fixed Income ETPs, Sovereign products recorded the largest inflows (+USD1.8bn), followed by Corporates products (+USD0.8bn). Within Commodity ETPs, Gold products experienced the largest outflows (-USD0.6bn).
Total weekly turnover increased by 4.2% to USD284bn vs. USD272bn in the previous week. Last week’s turnover level, however, is still 24% below last year’s weekly average. The largest increase was on Equity ETP turnover, which rose by USD7.8bn or 3.2% to USD252bn. Fixed Income and Commodity ETP turnover followed with increases of 26.5% (USD3.2bn) and 4.3% (USD0.6bn), respectively.
There was one new ETF launched during the previous week. The product was listed on NYSE Arca. The new fixed income ETF employs an active strategy to offer access to global inflation protection by holding a basket of inflation-linked debt instruments.
