We thought 12 new products in July would be the year’s low point, but August proved us wrong with only nine new listings. This was the slowest pace since October 2010 and only the third time in three years launches failed to reach double-digits in a calendar month. Three ETN closures accompanied the eight new ETFs and one ETN, putting the net increase at just six. The number of listed products totaled 1,301 at the end of August: 1,131 ETFs and 170 ETNs. Actively-managed ETFs held steady at 40.
Trading typically slows in August, but this year surged 99% from July. Total monthly dollar volume across all ETPs surpassed $2.9 trillion. ETN trading activity was up 209% to $73 billion. An average day in August saw $127 billion of ETPs change hands.
The number of ETFs averaging more than $1 billion in daily trading activity (the Billion Dollar Club) doubled to twenty and accounted for more than 73% of all ETP dollars traded. SPDR S&P 500 (SPY) alone accounted for more than 36% of all ETP trading activity.
Products averaging more than $100 million of trading per day jumped from 76 to 100 and accounted for more than 93% of all dollars traded. Products averaging more than $10 million of trading per day increased from 234 to 289, grabbing nearly 99% of all ETP dollars traded.
Industry assets under management was $1.06 trillion at the end of August, a decrease of -3.9% for the month and a gain of +5.4% year-to-date.
|August 2011 Month End||ETFs||ETNs||Total|
|Currently Listed U.S.||1,131||170||1,301|
|Listed as of 12/31/2010||967||132||1,099|
|New Introductions for Month||8||1||9|
|Delistings/Closures for Month||0||3||3|
|Net Change for Month||+8||-2||+6|
|New Introductions 6 mths||135||40||175|
|New Introductions YTD||168||43||211|
|Net Change YTD||+164||+38||+202|
|Assets Under Mgmt ($ billion)||$1,048||$16.0||$1,064|
|% Change in Assets||-3.9%||-0.0%||-3.9%|
|Monthly $ Volume ($ billion)||$2,849||$73.0||$2,922|
|% Change in Monthly $ Volume||+97.2%||+209%||+99.0%|
|Avg Daily $ Volume > $1 Billion||19||1||20|
|Avg Daily $ Volume > $100 Million||96||4||100|
|Avg Daily $ Volume > $10 Million||275||14||289|
Data sources: AUM from National Stock Exchange, daily prices and volume of individual ETPs from Norgate Premium Data, fund counts and all other information compiled by Invest With An Edge.
New products launched in August (in chronological order), along with links to analysis of each:
- EGShares Emerging Markets High Income Low Beta ETF (HILO) [Emerging Markets+High Income+Low Beta=HILO]
- Rydex S&P MidCap 400 Equal Weight ETF (EWMD) [EWMD, EWSM: New Equal-Weight ETFs from Rydex]
- Rydex S&P SmallCap 600 Equal Weight ETF (EWSM)
- EGShares India Consumer ETF (INCO) [INCO: India Consumer ETF Begins Trading]
- Market Vectors Mortgage REIT Income ETF (MORT) [Latching On to a Double-Digit Yield with MORT]
- iPath S&P 500 Dynamic VIX ETN (XVZ) [XVZ: A Dynamic Volatility Strategy ETN]
- iShares MSCI Emerging Markets Small Cap Index Fund (EEMS) [iShares Joins Emerging Markets Small Cap ETF Party]
- iShares S&P Target Date 2045 Index Fund (TZW) [iShares Target Date Series Extended to 2050]
- iShares S&P Target Date 2050 Index Fund (TZY)
Product closures/delistings in August:
- ELEMENTS Benjamin Graham Total Market Value Index-Total Return ETN (BVT) [Ben Graham ELEMENTS ETNs Closing Today]
- ELEMENTS Benjamin Graham Large Cap Value Index-Total Return ETN (BVL)
- ELEMENTS Benjamin Graham Small Cap Value Index-Total Return ETN (BSC)
Product changes in August:
Announced Product Changes for Coming Months:
- FaithShares announced its last remaining fund, FaithShares Christian Values (FOC), would close in September with the last day of trading set for 8/31/11.
- PowerShares Active AlphaQ (PQY) and PowerShares Active Alpha Multi-Cap (PQZ) will close and liquidate after the last day of trading on 9/30/11.
- Van Eck Global and Merrill Lynch announced (8/12/11 press release) an agreement to seek SEC and shareholder approval for a fourth quarter 2011 exchange of six HOLDRS products into similar to-be-released Market Vector ETFs.
Previous monthly ETF statistics reports are available here.
Disclosure covering writer, editor, publisher, and affiliates: No positions in any of the securities mentioned. No positions in any of the companies or ETF sponsors mentioned. No income, revenue, or other compensation (either directly or indirectly) received from, or on behalf of, any of the companies or ETF sponsors mentioned.