STOXX Limited, has announced that the newly launched EURO iSTOXX ex Financials High Dividend 50 Index has been licensed to DekaBank as the underlying for an exchange-traded fund (ETF). The Deka EURO …
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iSTOXX ex Fin Dividend+ UCITS ETF will be listed on Deutsche Börse and Börse Stuttgart today.
“The newly launched EURO iSTOXX ex Financials High Dividend 50 Index combines access to the performance of leading Euro zone companies without exposure to the financial industry with a screen for high dividend yielding companies,” said Hartmut Graf, chief executive officer, STOXX Limited. “The selection process for index components is easily understandable for market participants, and as all STOXX indices, our new index is completely rules-based and transparent.”
Gordon Rose, Head of ETF Management and Development, bei Deka Investment GmbH, commented: “The EURO STOXX Index is one of Europe’s most well-respected benchmarks for companies in the Eurozone. Adding ex-Financials and high dividend yield filters to this makes a very appealing index for market participants.”
The index universe for the EURO iSTOXX ex Financials High Dividend 50 Index is the broad EURO STOXX ex Financials Index. All components in the underlying index are ranked in descending order of their 12 month historical dividend yield, and the top 50 are selected for inclusion in the index. Index components are then weighted by their gross dividend yield, and capped at a maximum weight of 10 percent.
The EURO iSTOXX ex Financials High Dividend 50 Index is reviewed together with the underlying index in March, June, September and December. The index is available in price, net and gross return versions, and calculated in euro and U.S. dollar. Daily historical index values are available back to Mar. 22, 2004.