Dollars

US ETP assets retreat from the USD1.3trn mark on market pullback

US equity markets weighed on exchange-traded fund assets last week, pushing them down by 0.9 per cent (-USD11.9bn) to USD1.26trn, according to Deutsche Bank.

As of last Friday, US ETPs have accumulated an asset growth of 20.5 per cent YTD.

Assets for equity, fixed income and commodity ETPs moved -USD16.6bn, +USD1.4bn, +USD3.3bn during last week, respectively.

The total US ETP flows from all products registered USD2.42bn (+0.2 per cent of AUM) of inflows during last week vs USD5.15bn (+0.4 per cent) of inflows the previous week, setting the YTD weekly flows average at +USD3.1bn (+USD138.35bn, +13.2 per cent YTD in total cash flows).

Equity, fixed income, and commodity ETPs experienced flows of +USD0.96bn (+0.1 per cent), +USD1.07bn (+0.4 per cent), +USD0.37bn (+0.3 per cent) last week vs. +USD2.78bn (+0.3 per cent), +USD2.33bn (+0.9 per cent), +USD0.01bn (+0.0 per cent) in the previous week, respectively.

Among US sectors, industrials (+USD0.22bn, +3.9 per cent) and materials (+USD0.14bn, +2.0 per cent) received the most significant flows.

In the equity space, large cap ETFs experienced USD1.9bn (-0.9 per cent) in outflows, while emerging markets (+USD0.7bn, +0.7 per cent) and value (+USD0.4bn, +0.9 per cent) ETFs saw the largest inflows. In the debt space, sovereign products gathered most of the inflows (+USD0.8bn, +1.3 per cent). Within commodity products, flows were driven by precious metals with +USD0.3bn (+0.3 per cent).

Total weekly turnover increased by 95.5 per cent to USD313bn vs. USD160bn from the previous week. However, last week's turnover level was still 17 per cent below last year's weekly average.

Equity, fixed income and commodity ETPs turnover increased by USD137bn (+98 per cent), USD7.1bn (+64 per cent) and USD7.4bn (+93 per cent), respectively.

Last week Pyxis Funds launched their first ETF (SNLN), the new fund was listed on the NYSE Arca and offers exposure to a portfolio of senior loans.

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