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Rosenblatt's Monthly ETP Review: 2021 Year-In-Review

Rosenblatt's Monthly ETP Review: 2021 Year-In-Review

  • Our special year-in-review section starts on page 13.
  • ETP average daily volume rose 9.51% m/m (+6.01% y/y), to 2.09 bn, as the VIX average daily close increased 15.43% m/m (-4.56% y/y), to 21.35.
  • Average daily value traded climbed 22.07% m/m (+89.95% y/y), to $179.7 bn.
  • ETPs accounted for 19.25% of total equity ADV (+402 bps m/m) and 28.98% of ADVT (+536 bps m/m).
  • The 20-most-active ETPs comprised 41.61% (-27 bps m/m) of total ETP volume and 8.01% (+163 bps m/m) of all equity volume.
  • Nasdaq PSX (+65 bps m/m) gained the most market share; NYSE Arca (-102 bps m/m) lost the most.
  • Net ETP fund flows were positive ($115.96 bn) for a 29th consecutive month. US equity funds ($+73.48 bn) led the way once again, followed by US government fixed-income (+$14.12 bn). Only commodity funds (-$2.58 bn) saw net outflows.
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