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Monthly ETP Review

June 7, 2021

  • ETP average daily volume rose 15.95% m/m (-4.13% y/y), to 1.76 bn, compared with a 9.19% m/m drop in total equity volume, as the VIX average daily close climbed 13.46% m/m (-36.04% y/y), to 19.76.
  • Average daily value traded increased 15.35% m/m (26.31% y/y), to $144.5 bn.
  • ETPs accounted for 16.24% of equity ADV (+95 bps m/m), and 26.09% of ADVT (+170 bps m/m).
  • The 20-most-active ETPs accounted for 42.63% (+135 bps m/m) of total ETP volume and 6.92% (+61 bps m/m) of all equity volume.
  • Nasdaq (+65 bps m/m), NYSE Arca (+54 bps m/m) and Cboe BZX (+54 bps m/m) gained the most market share; Off-exchange venues (-197 bps m/m) saw the steepest declines.
  • Net ETP fund flows rose (+$54.33 bn) for a 21st consecutive month, with all fund types seeing net inflows. US equity funds ($+20.52 bn) paved the way once again, followed by foreign-developed-market funds (+$7.75 bn) and US government fixed-income funds (+$6.10 bn).
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