- ETP average daily volume fell 23.47% m/m (-12.00% y/y), to 1.77 bn, as the VIX average daily close declined 18.76% m/m (-25.70% y/y), to 13.11.
- Average daily value traded dropped 24.64% m/m (+0.60% y/y), to $125.7 bn.
- ETPs accounted for 14.18% of total equity ADV (-688 bps m/m) and 22.29% of ADVT (-560 bps m/m).
- The 20-most-active ETPs comprised 37.25% (-182 bps m/m) of total ETP volume and 5.28% (-295 bps m/m) of all equity volume.
- Off-exchange venues (+230 bps m/m) gained the most market share; MIAX (-96 bps m/m) and NYSE Arca (-68 bps m/m) lost the most.
- Net ETP fund flows were positive for a 14th consecutive month at $71.80 bn, with US equity funds ($44.89 bn) leading the way and with US corporate fixed income funds (+$10.30 bln) a distant second. Only commodity funds (-$443 nm) suffered net outflows.
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