Exchange-traded funds (ETFs) have gained ground as underlying assets, accounting for two out of the five best-sellers during the period analysed.

The US market collected US$11.9 billion notional from approximately 3,700 structured notes registered with the US Securities and Exchange Commission (SEC) in March, a 11.9% increase from February or down 1.4% year-over-year (YoY), SRP data shows. The S&P 500 dropped 5.75% in March, closing at 5,611.85, which brought its year-to-date return to -4.59%. March’s total return of - 5.63% would have been a decline of 2.59% without the Magnificent 7, which remain at the top of the underlying