- ETP average daily volume declined 3.27% m/m (-1.11% y/y), to 2.22 bn, as the VIX average daily close increased 5.32% m/m (-33.88% y/y), to 13.40.
- Average daily value traded fell 4.91% m/m (+16.16% y/y), to $161.9 bn.
- ETPs accounted for 19.20% of total equity ADV (+69 bps m/m) and 27.66% of ADVT (-223 bps m/m).
- The 20-most-active ETPs comprised 41.61% (+331 bps m/m) of total ETP volume and 7.99% (+39 bps m/m) of all equity volume.
- Nasdaq (+60 bps m/m) gained the most market share; Off-board venues (-126 bps m/m) lost the most.
- Net ETP fund net flows were positive for a tenth consecutive month at $19.81 bn, with US corporate fixed income funds ($13.71 bn) leading the way and global funds (+$3.37 bln) a distant second. Commodity funds (-$3.12 bn) suffered the largest net outflows.
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