US ETP assets reach record high

Total assets under management of US exchange-traded products reached a new all-time high of USD1.219trn last week, according to Deutsche Bank.

Although equity ETP assets declined by USD2.3bn, fixed income and commodity ETP assets gained USD1.8bn and USD4.5bn, respectively.

As of last Friday, total assets had grown by 16.6 per cent or USD173.4bn year-to-date.

All US ETP products in aggregate had inflows of USD2.9bn last week versus USD0.6bn of inflows in the previous week. Cash flows year-to-date total USD91.4bn, for a weekly average of USD2.7bn.

Equity, fixed income, and commodity ETPs experienced inflows of USD1.3bn, USD0.5bn, and USD0.9bn last week versus outflows of USD0.5bn and inflows of USD0.3bn and USD0.8bn in the previous week, respectively.

Within equity ETPs, large cap products had the most inflows (USD0.8bn), while small cap products had the most outflows (USD0.2bn). Within fixed income ETPs, corporate products had the largest inflows (USD0.5bn), while sovereign products had the only outflows (USD0.3bn). Within commodity ETPs, only the precious metals products had significant flows (+USD0.9bn).

Total weekly turnover increased by 16 per cent to USD218bn versus USD188bn from the previous week. However, last week’s turnover level was 42 per cent below last year’s weekly average.

Equity ETP turnover increased by USD21.6bn, or 13.3 per cent, to USD184bn. Concurrently, fixed income and commodity ETPs turnover rose by 0.7 per cent (USD0.1bn) and 82.9 per cent (USD7.6bn), respectively.

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