- ETP average daily volume rose 12.43% m/m (+33.54% y/y), to 3.51 bn, as the VIX average daily close increased just 0.25% m/m (-11.14% y/y), to 15.79.
- Average daily value traded jumped 20.14% m/m (+43.41% y/y) to $244.1 bn.
ETPs accounted for 18.28% of total equity ADV (-80 bps m/m) and 25.50% of ADVT (-24 bps m/m). - Active ETPs (transparent and semi-transparent) accounted for 10.29% (+22 bps m/m) of total AUM, 30.85% (+54 bps m/m) of total ADV and 8.66% (-41 bps m/m) of total ADVT.
- The 20-most-active ETPs comprised 33.66% (-206 bp m/m) of total ETP volume and 6.15% (-67 bps m/m) of all equity volume.
- Off-exchange venues (+51 bps m/m) gained the most market share. Cboe EDGX (-28 bps m/m) lost the most. Nasdaq BX (-4 bps m/m) and Nasdaq PSX (-2 bp m/m) fell to record lows of 0.30% and 0.13%, respectively.
- Net ETP flows were positive once again, at $152.82 bn. All groups saw net inflows, with US equity ($72.38 bn) leading the pack, and US corporate fixed income funds ($23.70 bn) US government fixed income ($13.66 bn) a distant second and third.
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