Tradeweb Exchange-Traded Funds Update – April 2023
The following data is derived from trading activity on the Tradeweb Markets institutional European- and U.S.-listed ETF platforms.
EUROPEAN-LISTED ETFs
Total traded volume
Trading activity on the Tradeweb European ETF marketplace reached EUR 39.6 billion in April, while the proportion of transactions processed via Tradeweb’s Automated Intelligent Execution (AiEX) tool was 81.9%.
Volume breakdown
All ETF asset classes saw net buying in April, particularly fixed income products with ‘buys’ surpassing ‘sells’ by 18 percentage points. Activity in the asset class accounted for 37% of the overall platform flow, beating the previous 12-month rolling average by one percentage point.
North America Equities was once again the most heavily-traded ETF category during the month, with over EUR 7 billion in total traded volume.
Top ten by traded notional volume
Half of April’s ten most actively-traded ETFs were equities-based; however, the iShares Core Corporate Bond UCITS ETF was ranked first. The fund last occupied the top spot in February 2023.
U.S.-LISTED ETFs
Total traded volume
Total consolidated U.S. ETF notional value traded in April amounted to USD 42.7 billion.
Volume breakdown
As a percentage of total notional value, equities accounted for 52% and fixed income for 38%, with the remainder comprising commodity and specialty ETFs.
Adam Gould, head of equities at Tradeweb, said: “Institutional investors continue to adopt ETFs as a liquid, low-cost and flexible investment vehicle to help them navigate a wide range of market environments. As a result, we are seeing increasing adoption of RFQ trading as an effective way to transfer risk in ETFs.”
Top ten by traded notional volume
Fixed income products dominated April’s top ten by traded notional volume for another month, with the iShares 7-10 Year Treasury Bond ETF moving up seven places from March to claim first place.
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