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Rosenblatt’s Monthly ETP Review: April 2024

Rosenblatt’s Monthly ETP Review: April 2024
  • ETP average daily volume climbed 3.30% m/m (+17.55% y/y), to 2.31 bn, as the VIX average daily close increased 17.05% m/m (-9.43% y/y), to 16.14.
  • Average daily value traded rose 5.89% m/m (+33.87% y/y), to $166.7 bn.
  • ETPs accounted for 21.06% of total equity ADV (+247 bps m/m) and 27.89% of ADVT (+405 bps m/m).
  • The 20-most-active ETPs comprised 39.07% (-179 bps m/m) of total ETP volume and 8.23% (+63 bps m/m) of all equity volume.
  • Nasdaq (+55 bps m/m) gained the most market share; Off-board venues (-84 bps m/m) lost the most.
  • Net ETP fund flows were positive for a 13th consecutive month at $74.99 bn, with all groups seeing net inflows. US equity funds ($51.29 bn) lead the way, with US corporate fixed income funds (+$7.15 bln) a distant second.

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