Solactive is excited to announce the release of the Solactive Spain 40 Index, a new benchmark tracking the performance of the forty largest and most liquid companies listed in Spain….
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Steffen Scheuble, CEO of Solactive
The index is used as the underlying index for the db xtrackers Spanish Equity UCITS ETF (DR), formerly db x-trackers IBEX 35® UCITS ETF (DR), switching today from the IBEX 35® Index to the Solactive Spain 40 Index. With this new launch, Solactive expands its range of competitively-priced benchmarks and offers for the first time in its history a broad-market index providing targeted exposure to a Southern European economy.
Specifically, the Solactive Spain 40 Index is a free-float market capitalization weighted index covering approximately 63% of the Spanish equity market*. The three most represented sectors are Finance, Technology and Utilities, with a composite weight of 66% of the total index*. The five largest positions by marketvalue weight are Banco Santander, Banco Bilbao Vizcaya Argentaria, Telefonica, Iberdrola and Inditex*.
Steffen Scheuble, CEO, Solactive AG, commented: “Solactive has been very active in the benchmark space since it first entered it two years ago. Following increased customer demand, we have continued expanding our suite of cost-efficient broadbased indices. The Solactive Spain 40 Index joins the portfolio of Solactive-branded benchmarks with regional and country exposure which at the moment cover Canada, Germany, Europe, Scandinavia, Switzerland and the US, among others.”
The Solactive Spain 40 Index can serve multiple purposes.
First, it can be used as a performance indicator of the Spanish equity market.
Second, investors can employ it as a yardstick against which to compare the performance of a security or their active portfolio strategies.
Alternatively, it can constitute the starting universe from which to build smart beta or niche indices. In addition, it can be used as the underlying index for investment products such as ETFs.
The Solactive Spain 40 Index is denominated in EUR and calculated as a gross total return (GTR), price return (PR) and net total return (NTR) index. Shares must be listed on the Madrid Stock Exchange. The forty largest companies among the sixty most liquid according to 6-month ADTV are chosen as final index components. The index composition is readjusted quarterly.
*as of 30th of May 2017