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US equity ETPs see inflows of USD6.7bn

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US exchange-traded products registered USD9.62bn of inflows during last week versus USD14.97bn of inflows the previous week, setting the year-to-date weekly flows average at +USD3.2bn (+USD123.0bn YTD in total cash flows), according to Deutsche Bank.



Equity, fixed income, and commodity ETPs experienced flows of +USD6.72bn, +USD1.42bn, +USD1.49bn last week versus +USD12.79bn, +USD1.37bn, +USD0.84bn in the previous week, respectively.

Within equity ETPs, US sector products had the most inflows (+USD1.7bn), while developed non-US country products had the largest outflows (-USD0.2bn). Within fixed income ETPs, corporate products had the largest inflows (+USD1.2bn), while sovereign products experienced the only outflows (-USD0.3bn). Within commodity ETPs, precious metals products experienced inflows of +USD1.3bn, while the other sectors experienced less relevant flows.

Total weekly turnover decreased by 14 per cent to USD251bn versus USD292bn from the previous week. Moreover, last week’s turnover level was 34 per cent below last year’s weekly average. Equity ETP turnover decreased by USD32.8bn, or 13.3 per cent, to USD214bn. Concurrently, fixed income and commodity ETPs turnover fell by 28.5 per cent (-USD5.7bn) and 6.4 per cent (-USD1.4bn), respectively.

Despite the market pullback, inflows were enough to offset the decline. As of last Friday, US ETPs have accumulated an asset growth of 23.5 per cent YTD, reaching USD1.292trn. Assets for equity, fixed income and commodity ETPs moved -USD1.4bn, +USD1.6bn, +USD1.3bn during last week, respectively.

There were two new equity ETFs listed during the previous week. One of them was listed in the NYSE Arca and offers exposure to an active asset allocation strategy by employing a “buy-write” or “covered call” overlay, while the other was listed in the Nasdaq Exchange and offers access to a China dividend strategy.

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