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ETFGI reports ETFs industry in Europe celebrates 23rd anniversary

LONDONApril 14, 2023 — ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs ecosystem, reported today that ETFs industry in Europe celebrates 23rd anniversary.  On April 11, 2000, the first two ETFs based on the Euro Stoxx 50 and the Stoxx Europe 50 were listed on Deutsche Boerse in Germany by Merrill Lynch International.  This was followed by iShares listing the iShares Core FTSE 100 Ucits ETF on the London Stock Exchange on April 28, 2000.

At the end of March iShares is the largest provider in terms of assets with US$685 Bn, reflecting 44.2% market share; Amundi ETF is second with US$197 Bn and 12.7% market share, followed by DWS Xtrackers with US$154 Bn and 9.9% market share. The top three providers, out of 101, account for 66.9% of assets invested in the ETFs industry in Europe.  

We expect assets invested in the ETFs industry in Europe to break through US$3 trillion by 2029.

During March the ETFs industry in Europe gathered net inflows of US$14.64 billion, bringing year-to-date net inflows to US$42.55 billion. During the month, assets invested in the ETFs industry in Europe increased by 4.4% going from US$1.48 trillion at the end of February to US$1.55 trillion, according to ETFGI's March 2023 European ETFs and ETPs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)

Highlights​​

  • ETFs industry in Europe celebrates 23rd anniversary.
  • ETFs industry in Europe gathered net inflows of $14.64 Bn in March.
  • YTD net inflows in 2023 of $42.55 Bn are third highest on record, after YTD net inflows of $59.30 Bn in 2021 and YTD net inflows of $49.73 in 2022.
  • 6th month of net inflows.
  • Assets of $1.55 Tn invested in ETFs and ETPs listed in Europe at the end of March 2023.
  • Assets increased 9.2% YTD in 2023, going from $1.42 Tn at end of 2022 to $1.55 Tn.

“The S&P 500 increased by 3.67 % in March and is up by 7.50% YTD in 2023. Developed markets excluding the US increased by 2.19% in March and are up 7.77% YTD in 2023. Denmark (up 7.10%) and Korea (up 5.16%) saw the best performance amongst the developed markets in March. Emerging markets increased by 2.16% during March and were up 2.90% YTD in 2023. Saudi Arabia (up 5.63%) and Peru (up 3.85%) saw the best performance amongst emerging markets in March.” According to Deborah Fuhr, managing partner, founder and owner of ETFGI.

Europe ETFs and ETPs asset growth as at the end of March 2023

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The European ETFs industry had 2,954 products, with 11,948 listings, assets of $1.549 Tn, from 101 providers listed on 29 exchanges in 24 countries at the end of March.

Top 10 providers of ETFs in Europe at the end of March 2023 ranked by AUM

Provider

# ETFs/

Assets

%

NNA

NNA

NNA

NNA

ETPs

(US$ Mn)

market

(US$ Mn)

(US$ Mn)

(US$ Mn)

(US$ Mn)

 

 Mar-23

share

23-Mar

YTD 2023

YTD 2022

2022

iShares

386

684,921

44.20%

8,227

19,728

22,166

47,304

Amundi ETF

389

197,173

12.70%

1,817

2,159

10,404

6,378

Xtrackers

235

153,559

9.90%

798

3,982

531

-3,869

Vanguard

35

94,028

6.10%

1,532

3,942

3,510

12,791

UBS ETFs

134

87,931

5.70%

-2,124

198

-967

1,747

Invesco

144

68,057

4.40%

942

-80

6,971

7,537

SPDR ETFs

108

61,142

3.90%

237

2,143

3,036

4,262

WisdomTree

262

29,548

1.90%

-46

2,292

-1,045

-1,986

HSBC ETFs

52

20,972

1.40%

606

1,603

655

2,906

BNP Paribas Easy

60

20,955

1.40%

944

1,150

1,351

5,057

During March, ETFs gathered net inflows to $14.64 billion. Equity ETFs gathered net inflows of $6.36 Bn over March, bringing YTD net inflows to $23.04 Bn, lower than the $34.57 Bn in net inflows gathered YTD in 2022. Fixed income ETFs reported net inflows of $5.94 Bn during March, bringing YTD net inflows to $15.48 Bn, significantly higher than the $6.85 Bn in net inflows YTD in 2022. Commodities ETFs/ETPs reported net inflows of $1.21 Bn during March, bringing YTD net inflows to $1.67 Bn, much lower than the $7.61 Bn in net inflows YTD in 2022. Active ETFs attracted net inflows of $1.34 Bn over the month, gathering YTD net inflows of $2.18 Bn, much higher than the $675 Mn in net inflows reported YTD in 2022.

Substantial inflows can be attributed to the top 20 ETFs by net new assets, which collectively gathered $10.84 Bn during March. Amundi MSCI Emerging Markets II - UCITS ETF - Dist (AE5A GY) gathered $1.42 Bn, the largest individual net inflow.

Top 20 ETFs by net inflows in March 2023: Europe

Name

Ticker

Assets
($ Mn)
 Mar-23

NNA
($ Mn)
 YTD-23

NNA
($ Mn)
Mar-23

Amundi MSCI Emerging Markets II - UCITS ETF - Dist

AE5A GY

1,762.36

1,716.55

1,415.62

iShares Core S&P 500 UCITS ETF - Acc

CSSPX SW

56,894.64

(106.49)

1,095.92

iShares Core MSCI World UCITS ETF - Acc

IWDA LN

50,451.52

2,123.22

880.39

Xtrackers II iBoxx Sovereigns Eurozone 1-3 UCITS ETF - 1C - Acc

DBXP GY

2,362.30

781.09

803.06

iShares USD Treasury Bond 0-1yr UCITS ETF

IBTU LN

12,875.36

283.08

794.73

iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF - Acc

ROLL LN

1,243.76

614.31

579.10

UBS ETF (CH) SPI (CHF) A-dis

SPICHA SW

1,858.25

656.36

517.27

iShares € High Yield Corp Bond UCITS ETF

IHYG LN

5,411.27

327.86

498.19

Lyxor Smart Overnight Return - UCITS ETF - C-EUR - Acc

CSH2 FP

1,700.47

85.42

462.88

iShares Core € Corp Bond UCITS ETF

IEBC LN

12,699.35

944.15

429.99

iShares NASDAQ 100 UCITS ETF - Acc

CSNDX SW

9,110.24

708.55

420.68

Lyxor US Curve Steepening 2-10 UCITS ETF - Acc

STPU LN

889.09

838.29

420.24

Invesco EQQQ Nasdaq-100 UCITS ETF

EQQQ IM

6,627.84

453.04

363.65

Vanguard FTSE All-World UCITS ETF

VWRD LN

16,421.00

1,176.91

339.76

Lyxor Euro Government Bond 3-5Y DR UCITS ETF - Acc

MTB FP

1,284.04

299.11

333.31

Xtrackers II EONIA UCITS ETF - 1C - Acc

XEON GY

1,214.57

(65.80)

321.67

Ziraat Portfolio BIST 30 Index Stock Exchange Traded Fund

ZPX30 TI

733.44

743.05

300.13

iShares Edge MSCI USA Quality Factor UCITS ETF - Acc

IUQA LN

1,692.76

124.33

298.36

Vanguard S&P 500 UCITS ETF

VUSA LN

35,155.08

39.82

288.78

iShares MSCI USA ESG Enhanced UCITS ETF

EEDS LN

10,455.06

137.06

277.08

The top 10 ETPs by net new assets collectively gathered $1.97 Bn during March.

iShares Physical Gold ETC - Acc (SGLN LN) gathered $1.10 Bn the largest individual net inflow.

Top 10 ETPs by net inflows in March 2023: Europe

Name

Ticker

Assets
($ Mn)
 Mar-23

NNA
($ Mn)
 YTD-23

NNA
($ Mn)
 Mar-23

iShares Physical Gold ETC - Acc

SGLN LN

15,556.77

739.88

1,096.87

Invesco Physical Gold ETC - Acc

SGLD LN

14,868.26

(1,110.64)

217.31

WisdomTree Brent Crude Oil - Acc

BRNT LN

2,341.51

1,149.59

196.15

WisdomTree Physical Gold - GBP Daily Hedged - Acc

GBSP LN

1,380.81

112.26

111.06

WisdomTree Physical Gold - EUR Daily Hedged - Acc

GBSE GY

535.42

111.35

105.78

Xtrackers Physical Gold Euro Hedged ETC - Acc

XAD1 GY

1,818.99

(118.26)

82.27

AMUNDI PHYSICAL GOLD ETC (C) - Acc

GOLD FP

4,375.02

(140.20)

47.33

Invesco Physical Gold ETC - EUR Hdg Acc

SGLE IM

647.38

41.20

39.90

WisdomTree Physical Silver - Acc

PHAG LN

1,380.21

(32.53)

39.34

BTCetc – ETC Group Physical Bitcoin - Acc

BTCE GY

530.45

71.17

38.26

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investors have tended to invest in Equity ETFs during March.

Contact deborah.fuhr@etfgi.com if you have any questions or comments on the press release or ETFGI events, research or consulting services.

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