US ETP assets at new all-time highs of USD1.21trn

Positive markets drove US exchange-traded product assets up by 1.2 per cent or USD14.1bn, ending the week at a new all-time high of USD1.21trn, according to figures released by Deutsche Bank.

As of last Friday, US ETPs have accumulated an asset growth of 15.6 per cent YTD. Assets for equity, fixed income and commodity ETPs increased USD12.3bn, USD0.4bn, and USD1.4bn during last week, respectively.

The total US ETP flows from all products registered USD0.6bn of inflows during last week versus USD4.9bn of inflows the previous week, setting the YTD weekly flows average at +USD2.6bn (+USD82.5bn YTD in total cash flows).

Equity, fixed income and commodity ETPs experienced flows of -USD0.2bn, +USD0.5bn, and +USD0.3bn last week versus +USD1.9bn, +USD2.6bn, and +USD0.4bn the previous week, respectively.

Within equity ETPs, US sector products experienced the largest inflows (+USD1.3bn), while large cap products had the largest outflows (-USD2.6bn). Within fixed income ETPs, corporate products had the largest inflows (+USD0.3bn), while sovereign ETPs experienced the largest outflows (-USD0.1bn), respectively. Within commodity ETPs, precious metals products experienced the largest inflows (+USD0.2bn), while the other sectors experienced less relevant flows.

Total weekly turnover decreased by 32.0 per cent to USD192bn versus USD282bn in the previous week. Last week's turnover level was 48.8 per cent below last year's weekly average. Equity ETPs experienced a decrease of USD76.0bn or 31.2 per cent to USD167bn along with fixed income ETPs which dropped by 27.3 per cent (-USD5.5bn) and commodity ETPs which experienced the biggest decline (-47.9 per cent).

There was one new ETF listed during last week. The new product offers exposure to an active long/short strategy and aims to deliver better risk-adjusted return than the S&P 500 with a high correlation to the HFRI Equity Hedge Total Index.

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