STOXX Limited announced that the Dow Jones EURO STOXX 50 Index has been licensed to ..…
XACT Fonder AB to serve as the basis for two exchange-traded funds (ETFs). This is the first time that ETFs based on a regional European index will be available to market participants in the Nordic markets.
The XACT Europe Bull 2 and XACT Europe Bear 2 ETFs—which seek to apply positive and negative leverage of approximately 200% of the index’s performance, respectively, are available on the Stockholm Stock Exchange (OMX NASDAQ) today.
“The Dow Jones EURO STOXX 50 Index continues to be the leading underlying for financial products that seek to offer investors exposure to blue-chip companies in the euro zone equity markets,” said Ricardo Manrique, chief executive officer, STOXX Ltd. “The liquid and well-established index tracks the performance of 50 leading stocks within the euro zone and is a valuable addition for XACT Fonder as they expand their offering of leveraged ETFs.”
“Our leveraged ETFs are among the most traded ETFs in Europe. It therefore makes sense to add one of Europe’s most popular indices—the Dow Jones EURO STOXX 50 Index—to our Bull and Bear concept,” said Henrik Norén, Managing Director, XACT Fonder.
The Dow Jones EURO STOXX 50 Index was launched on February 28, 1998. It represents 50 supersector leaders in the 12 euro zone countries Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxemburg, the Netherlands, Portugal and Spain. As of December 3, 2009, the index was up 17.32% for the year.
The Dow Jones EURO STOXX 50 Index is weighted by float-adjusted market capitalization, and each component’s weight is capped at 10% of the index’s total free-float market capitalization. The index captures approximately 60% of the free-float market capitalization of the Dow Jones EURO STOXX TMI Index. Daily historical data is available back to December 31, 1986.
Source: ETFWorld – STOXX Limited