Source has announced the launch of a euro-hedged version of the Source S&P 500 UCITS ETF, which currently has approximately US$ 1.7 billion of assets under management. The euro-hedged version of the fund is available on Xetra…
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and aims to provide the return of the S&P 500 Euro Hedged Total Return (Net) Index, after fees.
“Over the past year, we have seen a tremendous amount of interest in ETFs tracking the S&P 500,” says Michael John Lytle, Chief Development Officer. “This fund offers investors low cost exposure to the US stock market with lower risk of currency volatility, which could be attractive for some investors given the appreciation seen in the US dollar versus the euro this year.”
The ETF’s currency exposure will be hedged on a monthly basis, which reduces currency volatility without incurring prohibitive costs.
Source UK Services Limited is authorised and regulated by the Financial Conduct Authority in the UK.
Key ETF terms
Name of ETF: Source S&P 500 EUR-Hedged UCITS ETF
Benchmark index: S&P 500 Euro Hedged Total Return (Net) Index
Base currency: USD
Trading currency: EUR
Bloomberg: E500 GR
Management fee: 0.15% per annum