ETFs: US equities are particularly convincing

US and global equities account for 70 percent of turnover

The DAX broke through the 20,000 point barrier this Tuesday morning and rose to a new record high of 20,038 points. The Dow Jones, S&P 500 and Nasdaq 100 reached new all-time highs on Friday and Monday respectively. ETFs that focus on US equities account for 40 percent of turnover at Société Générale, while MSCI World ETFs, which have a strong US bias, account for a further 30 percent. S&P 500 trackers from iShares (IE00B5BMR087), Vanguard (IE00B3XXRP09), HSBC (IE00B5KQNG97) and SPDR (IE000XZSV718) as well as MSCI World ETFs from iShares (IE00B4L5Y983) are in demand. “DAX ETFs such as the Xtrackers DAX (LU0274211480) are also among the ten ETFs with the highest turnover, but these are mostly sellers,” explains Mohr.

Heinrich also confirms this: “We had significantly more purchases than sales with increased turnover. However, there were slightly more sales in the German ETFs,” the trader notes. Orlemann sees the focus on DAX, MSCI World and S&P 500 trackers. Schröer from Lang & Schwarz also observed a lot of buying for the major indices such as the S&P 500, MSCI World and Nasdaq. “In addition, S&P 500 and Nasdaq ETNs with leverage are very popular, such as the WisdomTree Nasdaq 100 3x Daily Leveraged (IE00BLRPRL42),” he reports.

Tech ETFs at ever new highs

Tech trackers continue to dominate trading in sector ETFs - with a clear buying overhang, as Mohr notes. The favorites include the Xtrackers Artificial Intelligence & Big Data (IE00BGV5VN51), the Invesco S&P World Information Technology ESG (IE000Q0IU5T1) and the Amundi MSCI World Information Technology (LU0533033667). All three are currently reaching new all-time highs. Also in high demand: the First Trust Nasdaq Cybersecurity (IE00BF16M727). According to Mohr, healthcare stocks are also still a hot topic, with slightly more inflows (LU0533033238) than outflows (IE00B43HR379). Also in demand at ICF: VanEck Defense (IE000YYE6WK5) and VanEck Uranium and Nuclear Technologies (IE000M7V94E1). 

Money market ETFs: both sides traded

In addition, money market ETFs continue to see high turnover, as Mohr reports, such as the Lyxor Smart Overnight Return (LU1190417599) - with inflows and outflows in equal measure. Short-dated US government bonds were also sold, such as the iShares USD Treasury Bond 1-3yr (IE00B14X4S71), while ETFs that track corporate bonds were bought. 

Crypto ETNs: partial price increase since Trump victory

All hands are full in the crypto ETN business. Bitcoin has not yet reached the 100,000 US dollar mark, but at midday on Tuesday the price was at 94,900 US dollars - more than double since the start of the year. However, other cryptocurrencies have performed much better since Donald Trump's victory in the US elections at the beginning of November. For example, the price of Ripple has quintupled and that of Cardano has quadrupled.

“Interest in cryptocurrencies is extremely high and has even increased recently,” explains Schröer. This involves many currencies, such as Polkadot in addition to Bitcoin. Orlemann reports “really big orders” for the Ripple ETN from 21Shares (CH0454664043). The 21Shares Solana Staking (CH1114873776), the 21Shares Cardano (CH1102728750) and the 21Shares Crypto Basket (CH0445689208) are also in high demand. “However, these are not just purchases, but also profit-taking.” According to Heinrich, Bitcon, Ethereum, Solana, Stellar, Ripple and Algorand ETNs are showing high turnover at Baader Bank.

By Anna-Maria Borse, 3 December 2024, © Deutsche Börse