- ETP average daily volume rose 2.17% m/m (-11.63% y/y), to 1.81 bn, as the VIX average daily close declined 3.23% m/m (-9.35% y/y), to 12.69.
- Average daily value traded dipped 0.74% m/m (-12.11% y/y), to $124.7 bn.
- ETPs accounted for 15.20% of total equity ADV (+101 bps m/m) and 20.55% of ADVT (-174 bps m/m).
- The 20-most-active ETPs comprised 37.92% (+67 bps m/m) of total ETP volume and 5.76% (-48 bps m/m) of all equity volume.
- Off-exchange venues (+317 bps m/m) gained the most market share; NYSE Arca (-104 bps m/m) and MIAX (-73 bps m/m) lost the most.
- Net ETP fund flows were positive for a 15th consecutive month at $56.57 bn, with US equity funds ($29.40 bn) leading the way and with US government fixed income funds (+$8.92 bn) a distant second. Only emerging market (-$227 mln) and commodity (-$116 mn) suffered net outflows.
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