ETFGI reports that ETFs and ETPs listed in Europe reported net outflows of US$22.83 billion at the end of March 2020

 

LONDONApril28, 2020 — ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs/ETPs ecosystem, reported today that ETFs and ETPs listed in Europe reported net outflows of 
US$22.83 billion at the end of March, the largest monthly outflow for Europe, bringing year-to-date net outflows to US$1.63 billion. Assets invested in the European ETFs/ETPs industry have decreased by 12.3%, from US$997.31 billion at the end of February, to US$874.87 billion, according to ETFGI's March 2020 European ETFs and ETPs industry landscape insights report, an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)


Highlights

  • April 2020 marks the 20thanniversary of the listing of the first ETFs to be listed in Europe.   
  • Commodities attracted the largest monthly inflows among the asset classes of $3.46 billion.
  • Commodity ETFs/ETPs gathered year-to-date net inflows of $7.90 billion, much higher than the 
    $616 million had attracted by this time last year.
  • Assets invested in the European ETFs/ETPs industry of $874.87 billion are the highest in comparison with previous years at this point.

 

April 2020 marks the 20thanniversary of the listing of the first ETFs to be listed in Europe.   The LDRS DJ STOXX 50 and LDRS DJ EUROSTOXX 50 sponsored by Merrill Lynch were listed on 11 April 2000 on the Deutsche Borse, closely followed by the listing of the iShares FTSE 100 ETF on the London Stock Exchange on April 28, 2000.  The LDRS ‘leaders’ were acquired by Barclays Global Investors from Merrill Lynch in September 2003 and their names were changed to iShares DJ STOXX 50 and iShares DJ EUROSTOXX 50.  

At the end of March, the S&P 500 was down 12.35% as the pandemic (Covid-19) forced US government to take strict measures and set some form of lockdown around the states reinforcing the fear for deep recession and high unemployment. Outside the U.S., the S&P Developed ex-U.S. BMI plummeted nearly 14.29%.  The S&P Emerging BMI dove 16.97% during the month and Global equities as measured by the S&P Global BMI plunged 14.32% as well.”  According to Deborah Fuhr, managing partner, founder and owner of ETFGI.

Europe ETFs and ETPs asset growth as at the end of March 2020 

 

At the end of March 2020, the European ETFs/ETPs industry had 2,205 ETFs/ETPs, with 8,440 listings, from 67 providers on 27 exchanges listed in 23 countries. 

ETFs and ETPs listed in Europe reported net outflows of US$22.83 billion at the end of March.  Commodity ETFs/ETPs gathered $3.46 billion in net inflows during March bringing net inflows to $7.90 billion for2020, which is greater than the $616 million in net inflows gatheredat this point in 2019. Equity ETFs/ETPs listed in Europe reported net outflows of $14.13 billion in March, bringing net outflows for the year 2020 to $5.31 billion, lower than the $10.19 billion in net inflows equity products had attracted at this point in 2019. Fixed income ETFs/ETPs listed in Europe had net outflows of $10.83 billion in March, bringing net outflows for the year to $3.35 billion, much lower than the $19.82 billion in net inflows fixed income products had at end of March 2019.

Substantial inflows can be attributed to the top 20 ETFs by net new assets, which collectively gathered $11.76 billion at the end of March. The Vanguard FTSE All-World High Dividend Yield UCITS ETF (VHYD LN)gathered $1.03 billion alone.

Top 20 ETFs by net inflows in March 2020: Europe

Name

Ticker

Assets
(US$ Mn)
 Mar-20

NNA
(US$ Mn)
 YTD-20

NNA
(US$ Mn)
Mar-20

Vanguard FTSE All-World High Dividend Yield UCITS ETF

VHYD LN

     1,895.58 

     1,167.34 

   1,032.36 

iShares MSCI Europe UCITS ETF EUR (Dist)

IMEU LN

     6,556.32 

     1,145.15 

      937.63 

Lyxor UCITS ETF EURO CASH

CSH FP

     1,529.76 

        524.97 

      831.71 

iShares $ Corp Bond UCITS ETF

LQDE LN

     5,475.70 

        959.61 

      808.34 

iShares STOXX Europe 600 UCITS ETF (DE)

SXXPIEX GY

     5,309.54 

        552.22 

      777.81 

iShares eb.rexx Money Market UCITS ETF (DE)

EBMMEX GY

        927.79 

        690.64 

      720.94 

iShares Core FTSE 100 UCITS ETF

ISF LN

     9,426.35 

     1,075.56 

      716.16 

Lyxor CAC 40 (DR) UCITS ETF

CAC FP

     3,491.62 

        570.20 

      592.65 

Lyxor UCITS ETF EURO STOXX 50 - D-EUR

MSE FP

     4,855.33 

        (29.16)

      588.45 

Vanguard FTSE All-World UCITS ETF

VWRD LN

     3,714.42 

        904.50 

      549.96 

SPDR Barclays 1 – 3 Year Euro Government Bond UCITS ETF

SYB3 GY

     1,616.05 

        503.59 

      519.17 

Xtrackers DAX UCITS ETF

XDAX GY

     3,137.67 

         60.60 

      432.00 

Xtrackers USD Corporate Bond UCITS ETF (DR)

XDGU GY

     1,013.11 

        460.86 

      426.94 

iShares Core DAX UCITS ETF (DE)

DAXEX GY

     5,120.99 

      (279.24)

      426.16 

iShares $ Treasury Bond 1-3yr UCITS ETF (EUR)

IBTE LN

        816.80 

        454.85 

      419.49 

Vanguard FTSE 100 UCITS ETF

VUKE LN

     3,397.28 

        472.41 

      413.23 

iShares EURO STOXX 50 UCITS ETF

EUN2 GY

     3,705.04 

      (254.36)

      397.45 

SPDR Barclays Euro Government Bond UCITS ETF

SYBB GY

     1,219.54 

        487.88 

      392.38 

iShares Core MSCI World UCITS ETF

IWDA LN

   19,295.87 

     1,148.43 

      391.64 

iShares Core € Govt Bond UCITS ETF

SEGA LN

     3,377.29 

        595.43 

      389.13 

https://etfgi.com/sites/default/files/styles/feature_image/public/source_3.png?itok=sw3zyEon 

The top 10 ETPs by net new assets collectively gathered $5.65 billion at the end of March. The Invesco Physical Gold ETC (SGLD LN) gathered $1.74 billion alone.

 

Top 10 ETPs by net inflows in March 2020: Europe

Name

Ticker

Assets
(US$ Mn)
 Mar-20

NNA
(US$ Mn)
 YTD-20

NNA
(US$ Mn)
 Mar-20

Invesco Physical Gold ETC

SGLD LN

     9,554.42 

     2,049.46 

   1,744.79 

iShares Physical Gold ETC

SGLN LN

   10,753.68 

     2,670.16 

   1,510.85 

Amundi Physical Metals PLC

GOLD FP

     2,378.39 

     1,238.97 

      866.06 

Xtrackers Physical Gold Euro Hedged ETC

XAD1 GY

     3,025.93 

        381.43 

      596.83 

WisdomTree WTI Crude Oil

CRUD LN

        592.53 

        621.40 

      457.33 

WisdomTree Physical Gold

PHAU LN

     7,526.89 

           0.15 

      180.29 

WisdomTree Brent Crude Oil 1mth

OILB LN

        207.62 

        153.61 

      150.35 

WisdomTree WTI Crude Oil 2x Daily Leveraged

LOIL LN

          41.70 

         89.05 

        62.63 

Xtrackers Brent Crude Oil Booster Euro Hedged ETC

XETC GY

          92.92 

         64.36 

        50.06 

WisdomTree Physical Gold - GBP Daily Hedged

GBSP LN

        558.33 

         41.13 

        34.66

https://etfgi.com/sites/default/files/styles/feature_image/public/source_3.png?itok=sw3zyEon
   

Investors have tended to invest in Commodity ETFs and ETPs at the end of March.


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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Due to the corona virus situation in New York and London, we have postponed our April 2ndNew York and May 19thLondon events. 

Register now to join us at the ETFGI Global ETFs Insights Summit in New York which has been postponed from April 2nduntil the fall of 2020. Free registration and CPD educational credits are offered to buyside institutional investors, financial advisors and RIAs. 

Our summits are designed to provide the opportunity for institutional investors, RIAs and financial advisors, to hear from the leading ETF issuers, banks, exchanges, law firms and others around the impact that market structure and regulations have on ETF product development for ESG and non-transparent active, due diligence, suitability, the use and trading, and technological developments of ETFs. 

Speakers include: 

  • Barbara Novick, Vice Chairman, BlackRock
  • Rick Redding, CEO, Index Industry Association
  • Kathleen H. Moriarty, Partner, Chapman and Cutler LLP
  • Jeffrey B. Baccash, Director, Global Head of ETF Solutions, BNP Paribas Securities Services
  • Kevin R. Gopaul, Global Head, Exchange Traded Funds, BMO Global Asset Management
  • Eric M. Pollackov, Global Head of ETF Capital Markets, Invesco Ltd.
  • Deborah Fuhr, Managing Partner and Founder, ETFGI
  • Dan McCabe, Chief Executive Officer, Precidian Investments

To see the full list of confirmed speakers - click here and visit the website to see further updates.

Panel discussions and fireside chats offer an opportunity for substantive and in-depth discussions on topics including:

  • ETFs and Their Impact on the Markets, Trading and Market Structure
  • Regulatory Impact on Investor Choice – ETF Rule, Non-Transparent Active, Derivatives Rule, Best Interest Rule
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  • Portfolio Construction – Outlook for the Markets, How and When to Use ETFs, Mutual Funds, Shares and/or Futures 
  • Non-Transparent Active, How Will They Work, What Types of Products Are Likely to Be Offered
  • Trends in ESG and Thematic Investing
  • The Future Trends Impacting the Use and Development of ETFs in the Next 5 – 10 Years

Workshops give attendees the opportunity to separate into small groups to engage with peers on a number of topics of importance relating to the use, implementation and trading of ETFs, as well as raise any questions with and obtain guidance from ETF thought leaders.
 
Spaces are limited so register now to ensure your attendance. Free registration and CPD educational credits are offered to buyside investors and financial advisors.

If you are interested in sponsoring or speaking at the event please contact [email protected].

ETFGI sends our best wishes to those countries and individuals impacted by the Coronavirus. Guest health and safety is the utmost priority for ETFGI. We are closely monitoring the situation for our many upcoming events and ask that all attendees check our website for any updates.

In the meantime, we look forward to welcoming everyone to ETFGI Global ETFs Insights Summits in:
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Toronto, September 2020
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Other ETFGI Summits
See Highlights Reel from our successful Toronto Summit, December 2019.
 
Best regards,

Deborah Fuhr
Managing Partner, Founder
ETFGI
125 Old Broad Street
London EC2N 1AR United Kingdom
Phone +44 777 5823 111
[email protected]

 

 

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https://etfgi.com/sites/default/files/styles/small_75x75/public/etftv.png?itok=5ed7_Z59   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 watch episodes 1 - 12
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, sharing her views on the changing landscape of ESG application within the investment industry
Episode 12 of ETF TV features Elena Philipova, Global head of ESG proposition at Refinitiv,sharing her views on the regional differences in approach to supporting investment based on environmental, social and governance factors
 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.
Episode 17 of ETF TV features Highlights from ETFGI Global ETFs Insights Summit Toronto.
Episode 18 of ETF TV features Deborah Fuhr and Dan Barnes - Buy-side trading skills make bond ETFs and mutual funds safer for investors.
Episode 19 of ETF TV features Dan Barnes producer at ETF TV discusses with Tobias Sproehnle chief executive officer at Moorgate Benchmarks and Deborah Fuhr Managing Partner at ETFGI and producer at ETF TV – Why index providers decided to postpone index rebalances and how that has impacted investors and ETFs.
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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. 
 
Ms Fuhr was made a Fellow of CFA UK in January 2020, was the recipient of the ETF.com 2018 lifetime achievement award, 100 Women in Finance’s 2017 European Industry Leadership Award, the 2014 William F. Sharpe Lifetime Achievement Award for outstanding and lasting contributions to the field of index investing, the Nate Most Greatest Contributor to the ETF industry award at the 11th annual ExchangeTradedFunds.com awards dinner in 2015, the ETF.com Lifetime achievement award in 2015.  She has been named as one of the “100 Most Influential Women in Finance” by Financial News over several years, most recently in 2016, and as one of the “10 to Watch in 2014” by Rep. magazine and wealthmanagement.com. Ms Fuhr won the award for the Greatest Overall Contribution to the development of the Global ETF industry in the ExchangeTradedFunds.com survey in 2011 and 2008 and received an award for her contribution to the ETF sector at the annual closed end funds and ETF event in New York and was featured in the Investors Chronicle’s list of “150 people that can make you money” in 2010.    

Deborah Fuhr is a founder and board member of Women in ETFs “WE” the first women’s group for the ETF industry. Founded in January 2014, WE is a non-profit organization that brings together over 5,600 members, including women and men, in chapters in major financial centers around the world to CONNECT, SUPPORT and 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.com


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