<< rosenblatt | All Market STructure REports

Rosenblatt's Monthly ETP Review: 2022 Year-In-Review

Rosenblatt's Monthly ETP Review: 2022 Year-In-Review

  • Our special year-in-review section starts on page 13.
  • ETP average daily volume fell 9.70% m/m (+5.73% y/y), to 2.21 bn, as the VIX average daily close declined 7.05% m/m (+2.01% y/y), to 21.78.
  • Average daily value traded dropped 10.61% m/m (-23.60% y/y), to $137.3 bn.
  • ETPs accounted for 20.46% of total equity ADV (-129 bps m/m) and 29.85% of ADVT (-95 bps m/m).
  • The 20-most-active ETPs comprised 42.20% (-433 bps m/m) of total ETP volume and 8.63% (-149 bps m/m) of all equity volume.
  • Off-exchange venues (+293 bps m/m) gained the most market share. All other exchanges lost market share, but Nasdaq (-84 bps m/m) and Cboe BZX (-44 bps m/m) shed the most.
  • Net ETP fund flows were positive for an eighth consecutive month (+$37.30 bn). US equity funds (+$14.06 bn) led the way, followed by US corporate fixed income (+$6.97 bn) and global funds (+$6.94 bn). Commodity (-$1.53 bn) and currency (-$381 mn) funds suffered net outflows.

View the report

more market structure reports

see all reports