ETFGI reports today that Leveraged and Inverse ETFs and ETPs listed globally suffered net outflows of US$138 million during November 2019


LONDON— December 30, 2019 —ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs/ETPs ecosystem, reported today that Leveraged and Inverse ETFs and ETPs suffered net outflows of US$138 million during November. Total assets invested in leveraged and inverse ETFs and ETPs decreased from US$77.5 billion at the end of October to $77.2 billion, according to ETFGI’s November 2019 Leveraged and Inverse ETFs and ETPs industry landscape insights report, an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.) 

Highlights

  • Assets invested in leveraged and inverse ETFs/ETPs decreased by 0.4% during November 2019 to $77.2 billion.
  • During November, leveraged and inverse ETFs/ETPs listed globally saw net outflows of $138 million.
  • The majority of assets were invested in Leverage ETFs/ETPs with $48.9 billion, followed by Leveraged/Inverse products with assets of $15.8 billion, then Inverse with $12.5 billion.

During November the S&P 500 gained 3.6% as global markets were resistant to fears of inflation and showed optimism on the trade talks.  Global equities as measured by the S&P Global BMI were up 2.5% and the S&P Emerging BMI gained 0.1%.” According to Deborah Fuhr, managing partner, founder and owner of ETFGI.

At the end of November 2019, the Global leveraged/inverse ETF/ETP industry had 852 ETFs/ETPs. Of these 852 ETFs/ETPs, 435 were leveraged products, while 202 were inverse listings, and 215 were leveraged inverse. The largest market for leveraged and inverse ETFs/ETPs was in the United States, which, at the end of November 2019, had assets of $48.1 billion invested in 281 ETFs/ETPs.

Global leveraged/inverse ETF and ETP asset growth as at the of end of November 2019

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During November, globally listed leveraged and inverse ETFs/ETPs suffered net outflows of $138 million and net outflows year-to-date reached $2.90 billion. The top 20 leveraged and inverse ETFs/ETPs by Year-to-Date net new assets collectively gathered $15.91 billion year-to-date to November. TheNEXT FUNDS Nikkei 225 Double Inverse Index Exchange Traded Fund (1357 JP) gathered $2.43 billion alone, the largest net inflow year-to-date to November. 

Top 20 ETFs/ETPs by YTD net new assets November 2019: Leveraged and Inverse

Name

 

 

Country Listed

Ticker

Assets

(US$ Mn)
 Nov-19

 

ADV

 (US$ Mn)   

Nov-19

NNA
(US$ Mn)
 YTD-19

Leverage

NEXT FUNDS Nikkei 225 Double Inverse Index Exchange Traded Fund

Japan

1357 JP

  2,428.47 

    160.21 

 2,209.10 

Leveraged Inverse

VelocityShares Daily 2x VIX Short Term ETN

US

TVIX US

     891.77 

    240.93 

 2,004.69 

Leveraged

ProShares UltraPro Short QQQ

US

SQQQ US

  1,222.63 

    264.20 

 1,493.33 

Leveraged Inverse

VelocityShares Daily 3x Long Natural Gas ETN

US

UGAZ US

     923.70 

    419.32 

 1,316.83 

Leveraged

iPath Series B S&P 500 VIX Short-Term Futures ETN

US

VXX US

     928.17 

    475.93 

 1,264.57 

Leveraged

ProShares Ultra VIX Short-Term Futures

US

UVXY US

     579.45 

    205.19 

 1,001.86 

Leveraged

ProShares UltraShort S&P500

US

SDS US

  1,080.97 

    117.92 

    654.13 

Leveraged Inverse

Daiwa ETF Japan Nikkei225 Inverse Index

Japan

1456 JP

     595.00 

       0.14 

    642.92 

Inverse

ProShares UltraPro Short S&P 500

US

SPXU US

     612.36 

     98.98 

    551.27 

Leveraged Inverse

ProShares Short S&P500

US

SH US

  1,930.97 

     79.48 

    494.66 

Inverse

Direxion Daily S&P 500 Bear 3X Shares

US

SPXS US

     501.04 

     84.56 

    480.22 

Leveraged Inverse

CSOP Hang Seng Index Daily -2x Inverse Product

Hong Kong

7500 HK

     484.25 

     56.04 

    468.70 

Leveraged Inverse

Samsung KODEX 200 Futures Inverse 2X ETF

South Korea

252670 KS

     674.13 

    117.05 

    408.90 

Leveraged Inverse

Direxion Daily Semiconductors Bear 3x Shares

US

SOXS US

     239.21 

     81.96 

    385.92 

Leveraged Inverse

Direxion Daily Gold Miners Bear 3x Shares

US

DUST US

     339.89 

     91.10 

    382.79 

Leveraged Inverse

Lyxor UCITS ETF CAC 40 DAILY DOUBLE SHORT

France

BX4 FP

     328.98 

     23.32 

    325.37 

Leveraged Inverse

Xtrackers ShortDAX Daily UCITS ETF - 1C

Germany

XSDX GY

     579.17 

       5.97 

    303.26 

Inverse

Simplex - Nikkei Average Bear Double Exchange Trade Fund

Japan

1360 JP

     381.23 

     21.43 

    292.81 

Leveraged Inverse

NEXT NOTES Nikkei TOCOM Leveraged Crude Oil ETN

Japan

2038 JP

     304.62 

       3.49 

    260.40 

Leveraged

ProShares UltraShort QQQ

US

QID US

     323.06 

     46.52 

    249.97 

Leveraged Inverse

 

Contact [email protected] if you have any questions or comments on the press release or ETFGI events, research or consulting services. 

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ETF TV is a new show which provides insights into the use, trading, regulatory and product development trends for exchange traded funds ETFs and exchange traded products ETPs.  Go to www.ETFtv.net to view

Episode 1 ETF TV views from industry leaders in Europe
Episode 2 ETF TV Tara O'Reilly on the regulatory environment for ETFs 
Episode 3 ETF TV Dan Draper of Invesco picks out the key future trends to watch in the ETF market 
Episode 4 ETF TV Dr Xiaolin Chen of KraneShares explains ETF use in institutional investment and for access to China
Episode 5 ETF TV ETF market structure and trading protocols are evolving approaches to investment Tom Digby, Head of EMEA ETF Client Trading at Invesco
Episode 6 ETF TV Ciarán Fitzpatrick, Managing Director, Head of ETF Servicing Europe at State Street discuss generating alpha with ETFs  
Episode 7 of ETF TV features Eric M. Pollackov Global Head of ETF Capital Markets at Invesco sharing his views on active and passive investing being a collaboration of capabilities, the need for education and innovations developing in non-transparent active and Crypto ETPs
Episode 8 of ETF TV features Shaun Baskett, Director Index Sales at Cboe Europe sharing his views on the role of regulation, trade transparency and liquidity for ETFs
Episode 9 of ETF TV features Sergey Dolomanov, Partner at WILLIAM FRY sharing his views on the value of ETFs being the delivery of better value and choice for investors and the development of active and ESG strategies with Hamish McArthur of ETF TV and Deborah Fuhr of ETFGI 
Episode 10 of ETF TV features Jim Goldie, head of ETF Capital Markets (EMEA) at Invesco, sharing his views on the growth in the use of fixed income ETFs, how they can have tighter spreads than the index and provide cost efficient execution, with Hamish McArthur of ETF TV
Episode 11 of ETF TV features Elena Philipova, Global head of ESG proposition at Refinitiv, discussing how to define sustainable investment opportunities and the changing landscape of ESG application within the investment industry
Episode 12 of ETF TV part 2 of the Difference in US and European approaches to ESG should not inhibit growth interview with Elena Philipova, global head of ESG proposition at Refinitiv with Deborah Fuhr, Managing Partner of ETFGI and co-founder of ETF TV
Episode 13 of ETF TV   features Tom Stephens, head of international ETF Capital Markets at JP Morgan Asset Management, Active ETFs will be the next level.  The use of fixed income exchange-traded funds for long term investment as well as for shorter term liquidity management and portfolio transitions
Episode 14 of ETF TV episode features Manuela Sperandeo, EMEA head of smart beta, sustainable and thematic ETFs at BlackRock explains how to define the category, assess it in the context of investment strategy, and to implement it in practicality
Episode 15 of ETF TV features Ivan Gilmore, head of exchange-traded products and global product development at the London Stock Exchange sees innovation in trading protocols and ESG products are transforming the ETF landscape, plus his thoughts on active vs passive and governance.
Episode 16 of ETF TV features Deborah Fuhr and Dan Barnes - The ETF Rule in the US will lead to many new issues in the market across 2020; the ‘non-transparent active’ ETFs – in reality as transparent as mutual funds, and better described as periodically-disclosed ETFs, will increase in number. New smart-beta strategies and launches of funds based on existing smart-beta strategies will also grow.

 

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About Deborah Fuhr 
Previously Deborah Fuhr served as global head of ETF research and implementation strategy and as a managing director at BlackRock/Barclays Global Investors from 2008 – 2011. She also worked as a managing director and head of the investment strategy team at Morgan Stanley in London from 1997 – 2008, and as an associate at Greenwich Associates. 
 
She has been working with investors, ETF, ETP providers, index providers, exchanges, MMs and APs, regulators, trade associations, custodians, law firms, accounting firms around the world since 1997. 

ETFGI is honored to count as our research and consulting clients some of the leading firms in the ETF Ecosystem around the world as well as some new entrants and firms that are considering entering the ETF, ETP industry. 
 
Past awards for Ms Fuhr include the ETF.com’s 2018’s Lifetime Achievement Award, the recipient of the 100 Women in Finance 2017 European Industry Leadership Award, the 2014 William F. Sharpe Lifetime Achievement Award for outstanding contributions to the field of index investing and she named one of the “100 Most Influential Women in Finance” by Financial News over several years, most recently in 2016. 
 
Deborah Fuhr is a founder and board member of 
Women in ETFsthe first women’s group for the ETF ecosystem. Founded in January 2014, WE inc is a 501(c)(3) non-profit organization that brings together members, including women and men, in 7 WE inc chapters across the United States and works with Women in ETFs entities in Canada, EMEA (7 chapters) and Asia Pacific to: 1) CONNECT: Create opportunities for professional advancement of women by expanding connections among women and men in the ETF industry; 2) SUPPORT: Offer guidance for the current and next generation of women in ETFs and 3) INSPIRE: WE achieves this by organizing events at our chapters globally that support our goals of education, networking, philanthropy and idea sharing across the industry and beyond. For more information, visit: www.womeninetfs.comto learn more, join, or sponsor. Follow us on Twitter: @WomeninETFsand on Linkedin: Women in ETFs

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