- ETP average daily volume fell 6.23% m/m (-2.65% y/y), to 1.55 bn, as the VIX average daily close declined 9.85% m/m (-39.29% y/y), to 17.87.
- Average daily value traded dropped 10.28% m/m (+15.47% y/y), to $131.0 bn.
- ETPs accounted for 14.86% of total equity ADV (-71 bps m/m) and 24.96% of ADVT (-185 bps m/m).
- The 20-most-active ETPs comprised 41.03% (-244 bps m/m) of total ETP volume and 6.10% (-67 bps m/m) of all equity volume.
- Off-exchange venues (+232 bps m/m) gained the most market share; NYSE Arca (-72 bps m/m) and Cboe EDGX (-70 bps m/m) saw the steepest declines.
- Net ETP fund flows were positive (+$73.16 bn) for a 26th consecutive month. All subgroups saw net inflows but US equity funds ($+48.42 bn) led the way once again, followed by US government
- fixed-income (+$9.57 bn) and corporate fixed-income (+$5.90 bn) products.