- ETP average daily volume rose 16.01% m/m (-1.47% y/y), to 1.49 bn, as the VIX average daily close increased 3.81% m/m (-34.41% y/y), to 17.60.
- Average daily value traded dropped 18.41% m/m (+31.88% y/y), to $132.0 bn.
- ETPs accounted for 15.28% of total equity ADV (+374 bps m/m), which fell 12.34% m/m, and 25.73% of ADVT (+501 bps m/m).
- The 20-most-active ETPs comprised 40.20% (+39 bps m/m) of total ETP volume and 6.14% (+154 bps m/m) of all equity volume.
- MEMX (+63 bps m/m) gained the most market share, while off-exchange venues (-97 bps m/m) saw the steepest decline.
- Net ETP fund flows rose (+$40.50 bn) for a 23rd consecutive month, with all but two fund groups seeing net inflows. US equity funds ($+14.73 bn) paved the way once again, followed by global (+$7.35 bn) and US government fixed-income (+$6.62 bn) ETPs. Only commodity (-$1.59 bmn) and specialty (-$73 mn) suffered net outflows.